Cboe is preparing to launch long-term futures for Bitcoin and Ether that provide efficient, regulated access to digital assets while reducing rollover complexity for market participants.
Summary
- Cboe plans to launch long-dated Bitcoin and Ether Continuous futures for U.S. traders starting November 10.
- Contracts are single, 10-year instruments with daily cash adjustments tied to spot prices.
- Products will be cleared through Cboe Clear U.S., regulated by the Commodity Futures Trading Commission.
According to a press release dated September 9, Cboe Global Markets plans to list its new Continuous futures for Bitcoin (BTC) and Ether (ETH) on the Cboe Futures Exchange starting November 10, pending the green light from regulators.
The Cboe said the products are designed as single contracts with a 10-year expiration and will use a daily cash adjustment mechanism, similar to the funding rate used by offshore perpetual swaps, to maintain alignment with the spot prices of BTC and ETH.
What Cboe’s new BTC and ETH futures mean for U.S. traders
The products’ design delivers the seamless, long-term exposure of a perpetual swap but eliminates the operational friction and transaction costs associated with rolling quarterly contracts. The design provides a streamlined tool for executing basis trades, hedging spot holdings, or maintaining a leveraged position without the burden of constant management.
Notably, the Cboe team said it is targeting a broad spectrum of the market with this launch.
“We expect Continuous futures to appeal to not only institutional market participants and existing CFE customers, but also to a growing segment of retail traders seeking access to crypto derivatives. As we continue to expand CFE’s offerings to serve all types of market participants, these futures are a next step to advancing our product innovation roadmap,” Catherine Clay, Global Head of Derivatives at Cboe, noted.
According to the release, the new Bitcoin and Ether Continuous futures will be cleared through Cboe Clear U.S., a derivatives clearing organization regulated by the Commodity Futures Trading Commission.
The regulatory clarity provides the foundational trust and security for institutional adoption, ensuring counterparty risk is managed within a federally supervised clearinghouse, a nonnegotiable requirement for major financial firms.
Per the statement, the launch builds directly on Cboe’s ongoing commitment to diversify its CFE product suite, which already includes products based on equity volatility and global fixed income.