Cboe Digital to Launch Bitcoin Futures Product in Collaboration with FTSE Russell
Cboe Digital, the cryptocurrency arm of the Chicago Board of Options Exchange, announced plans to launch a new Bitcoin (BTC) futures product later this month, contingent on regulatory approval, the exchange revealed on Monday.
The new futures contract, developed in partnership with FTSE Russell, will be cash-settled and linked to the XBTF Index, which reflects 1/10th of the value of the FTSE Bitcoin Index. The contracts will settle on the last business day of each month.
Pending approval from regulators, the futures are expected to begin trading on April 28.
Bitcoin futures are financial derivatives in which participants agree to buy or sell Bitcoin at a predetermined price on a future date, allowing them to hedge risks or speculate on price changes.
“This launch is timely as the demand for crypto exposure continues to surge, with investors seeking more efficient and flexible solutions to enter and manage the market,” said Catherine Clay, Global Head of Derivatives at Cboe.
In November 2023, Cboe became the first U.S. regulated exchange to offer both spot and leveraged derivatives for Bitcoin and Ether (ETH), following approval from the CFTC to list margined Bitcoin and Ether futures.
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