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Cboe Plans to Launch Continuous Futures for Bitcoin and Ether, Beginning November 10

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Cboe Global Markets (NYSE: CBOE) has announced plans to launch Cboe Continuous futures for Bitcoin and Ether on November 10, 2025, pending regulatory review. The innovative product will feature 10-year expiration contracts that are cash-settled and aligned to real-time spot market prices through daily cash adjustments.

Unlike traditional futures that require periodic rolling, these new contracts aim to simplify position management and provide efficient long-term market exposure to digital assets within a U.S.-regulated, centrally cleared, and intermediated framework. The futures will be cleared through Cboe Clear U.S., a CFTC-regulated derivatives clearing organization.

Cboe Global Markets (NYSE: CBOE) ha annunciato l'intenzione di lanciare Cboe Continuous futures per Bitcoin ed Ether il 10 novembre 2025, subordinatamente alla revisione normativa. Il prodotto innovativo prevederà contratti con scadenza a 10 anni, liquidati in contanti e allineati ai prezzi spot in tempo reale mediante aggiustamenti giornalieri in contanti.

Diversamente dai future tradizionali che richiedono roll periodici, questi nuovi contratti mirano a semplificare la gestione delle posizioni e a offrire un'esposizione efficiente a lungo termine agli asset digitali all'interno di un quadro regolamentato statunitense, con compensazione centrale e intermediazione. I future saranno compensati tramite Cboe Clear U.S., un organismo di compensazione di derivati regolato dalla CFTC.

Cboe Global Markets (NYSE: CBOE) ha anunciado planes para lanzar Cboe Continuous futures para Bitcoin y Ether el 10 de noviembre de 2025, sujeto a revisión regulatoria. El producto innovador incluirá contratos con vencimiento a 10 años, liquidados en efectivo y vinculados a los precios spot en tiempo real mediante ajustes diarios en efectivo.

A diferencia de los futuros tradicionales que requieren renovaciones periódicas, estos nuevos contratos buscan simplificar la gestión de posiciones y proporcionar una exposición eficiente a largo plazo a activos digitales dentro de un marco regulado en EE. UU., con compensación centralizada e intermediación. Los futuros se compensarán a través de Cboe Clear U.S., una cámara de compensación de derivados regulada por la CFTC.

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Cboe Global Markets (NYSE: CBOE) a annoncé son intention de lancer, sous réserve d'examen réglementaire, les Cboe Continuous futures pour Bitcoin et Ether le 10 novembre 2025. Le produit innovant proposera des contrats d'une durée de 10 ans, réglés en espèces et liés aux prix spot en temps réel via des ajustements quotidiens en espèces.

À la différence des futures traditionnels nécessitant des roulements périodiques, ces nouveaux contrats visent à simplifier la gestion des positions et à offrir une exposition longue durée et efficace aux actifs numériques dans un cadre régulé aux États-Unis, avec compensation centrale et intermédiation. Les futures seront compensés par Cboe Clear U.S., une chambre de compensation de produits dérivés régulée par la CFTC.

Cboe Global Markets (NYSE: CBOE) hat angekündigt, unter Vorbehalt der regulatorischen Prüfung Cboe Continuous-Futures für Bitcoin und Ether am 10. November 2025 einzuführen. Das innovative Produkt wird 10-jährige Ablaufkontrakte umfassen, die bar abgerechnet werden und durch tägliche Barausgleiche an die Echtzeit-Spothmarktpreise angeglichen sind.

Im Unterschied zu traditionellen Futures, die regelmäßiges Rollen erfordern, sollen diese neuen Kontrakte das Positionsmanagement vereinfachen und eine effiziente langfristige Marktexponierung gegenüber digitalen Assets innerhalb eines in den USA regulierten, zentral abgewickelten und vermittelten Rahmens bieten. Die Futures werden über Cboe Clear U.S. abgewickelt, eine von der CFTC regulierte Derivate-Clearingorganisation.

Positive
  • Introduction of innovative 10-year expiration contracts reducing position management complexity
  • Expansion into growing crypto derivatives market with regulated products
  • Potential to attract both institutional and retail traders
  • Enhancement of clearing capabilities through CFTC-regulated framework
Negative
  • Product launch subject to regulatory review and approval
  • Success dependent on crypto market adoption and volatility

Insights

Cboe's new Bitcoin/Ether Continuous futures bring perpetual-style crypto derivatives to regulated U.S. markets, reducing position management complexity.

Cboe's planned introduction of Continuous futures for Bitcoin and Ether represents a significant development in U.S. cryptocurrency derivatives markets. These products address a key friction point in traditional futures trading by eliminating the frequent need to roll contracts forward. With their 10-year expiration and daily cash adjustments to align with spot prices, these instruments effectively mirror the perpetual futures that have dominated offshore crypto trading venues.

The structure offers substantial operational advantages for traders seeking long-term crypto exposure. By reducing roll costs and simplifying position management, these products lower the total cost of ownership compared to traditional futures. The cash-settled nature eliminates concerns about crypto custody while still providing price exposure.

What's particularly notable is how this represents a regulatory bridge between established offshore crypto derivatives practices and the U.S. regulated marketplace. By offering these products through CFE with CFTC oversight and central clearing through Cboe Clear U.S., institutional investors previously hesitant to engage with offshore venues can now access similar trading functionality.

This launch signals Cboe's strategic push to capture market share in digital asset derivatives trading and diversify beyond its traditional volatility products. By targeting both institutional and retail participants, Cboe is positioning these products as part of a broader expansion of its futures exchange offerings. The company is clearly betting that bringing perpetual-style futures into a regulated environment will attract significant trading volume from participants seeking crypto exposure with the safeguards of U.S. market infrastructure.

  • New futures designed to efficiently deliver continuous long-term market exposure to bitcoin and ether
  • Aims to provide access to perpetual-style futures in a U.S.-regulated, intermediated environment
  • Marks next phase of Cboe's expanding product innovation roadmap

CHICAGO, Sept. 9, 2025 /PRNewswire/ -- Cboe Global Markets, Inc. (Cboe: CBOE), the world's leading derivatives and securities exchange network, today announced plans to launch Cboe Continuous futures on Cboe Futures Exchange, LLC (CFE) beginning November 10, 2025, pending regulatory review.

The new product suite will debut with bitcoin and ether Continuous futures, offering U.S. traders a simpler and efficient way to gain long-term exposure to digital assets, execute trading strategies and manage risk � all within a U.S.-regulated, centrally cleared and intermediated framework.

Unlike traditional futures contracts that may require periodic rolling, Cboe Continuous futures are planned to be structured as single, long-dated contracts with a 10-year expiration, reducing the need to roll positions over time and simplifying position management. These contracts will be cash-settled and aligned to real-time spot market prices (i.e., spot prices of bitcoin and ether, respectively) through daily cash adjustments, using a transparent and replicable funding rate methodology.

At the HOOD Summit in Las Vegas, Catherine Clay, Global Head of Derivatives at Cboe, remarked: "Perpetual-style futures have gained strong adoption in offshore markets. Now, Cboe is bringing that same utility to our U.S.-regulated futures exchange and enabling U.S. traders to access these products with confidence in a trusted, transparent and intermediated environment. 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."

The launch builds on Cboe's ongoing commitment to further growing and diversifying its CFE product suite, which in addition to its flagship Cboe Volatility Index (VIX) futures include innovative products based on equity volatility, digital assets and global fixed income.

The new bitcoin and ether Continuous futures will be cleared through Cboe Clear U.S., a CFTC-regulated derivatives clearing organization, positioning Cboe to further expand its clearing capabilities as it looks to build a robust global derivatives exchange and clearing ecosystem.

The Options Institute will host educational courses on continuous futures on October 30 and November 20. Registration is open to the public. For more technical information on Cboe's new bitcoin and ether Continuous futures, visit .

About Cboe Global Markets

Cboe Global Markets (Cboe: CBOE), the world's leading derivatives and securities exchange network, delivers cutting-edge trading, clearing, and investment solutions to people around the world. Cboe provides trading solutions and products in multiple asset classes, including equities, derivatives, and FX across North America, Europe, and Asia Pacific. Above all, we are committed to building a trusted, inclusive global marketplace that enables people to pursue a sustainable financial future. To learn more about the Exchange for the World Stage, visit .

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FAQ

When will Cboe launch Bitcoin and Ether Continuous futures (NYSE: CBOE)?

Cboe plans to launch Bitcoin and Ether Continuous futures on November 10, 2025, pending regulatory review.

How are Cboe's Continuous futures different from traditional crypto futures?

Cboe's Continuous futures feature 10-year expiration contracts that don't require periodic rolling, with cash settlement aligned to real-time spot prices through daily cash adjustments.

Who will clear Cboe's new crypto Continuous futures?

The futures will be cleared through Cboe Clear U.S., a CFTC-regulated derivatives clearing organization.

What educational resources are available for Cboe's Continuous futures?

The Options Institute will host educational courses on October 30 and November 20, 2025, with registration open to the public.

Who are the target customers for Cboe's new Continuous futures?

The products target both institutional market participants and retail traders seeking access to crypto derivatives in a regulated environment.
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