- Cboe to launch continuous BTC and ETH futures on Nov. 10, pending regulatory approval.
- Continuous futures last up to 10 years, removing frequent contract rollovers for traders.
- Cboe expects new products to attract both institutions and retail crypto derivatives traders.
Cboe Global Markets announced plans to launch new “Continuous futures” for bitcoin (BTC) and ether (ETH), with trading expected to begin on November 10, pending regulatory approval.
The products are designed to resemble perpetual futures contracts that are widely traded on offshore exchanges, but with adjustments to align with US regulatory requirements.
What sets continuous futures apart
Unlike traditional futures, which require frequent rolling as contracts near expiration, Cboe’s Continuous futures are structured as single contracts that can last up to 10 years.
This design is intended to simplify position management for traders by removing the need to roll over contracts at regular intervals.
According to Cboe, the contracts will be cash-settled and linked to real-time spot market prices.
They will incorporate daily cash adjustments, supported by a transparent and replicable funding rate methodology.
This approach is aimed at creating a stable and reliable trading instrument for both institutional and retail participants.
Bringing perpetual-style futures to US markets
Catherine Clay, Global Head of Derivatives at Cboe, highlighted the growing popularity of perpetual-style futures in offshore markets.
She noted that Cboe’s introduction of a similar product within a regulated US framework would provide traders with greater confidence.
“Perpetual-style futures have gained strong adoption in offshore markets. Now, Cboe is bringing that same utility to our US-regulated futures exchange and enabling US traders to access these products with confidence in a trusted, transparent, and intermediated environment,” Clay said in a statement.
The contracts will be cleared through Cboe Clear US, a derivatives clearing organization regulated by the Commodity Futures Trading Commission (CFTC).
This ensures that the products fall under the oversight of US financial authorities, addressing one of the main concerns around offshore perpetual futures.
Cboe’s broader push into digital assets
Cboe, originally known as the Chicago Board Options Exchange, was the first US exchange to offer bitcoin futures in 2017.
However, the company suspended new contracts about two years later as the crypto market downturn reduced demand.
With the recent resurgence in digital assets and renewed bullish momentum in the market, Cboe has re-energized its efforts to expand crypto-related offerings.
The exchange has been particularly active in pursuing listings of exchange-traded funds (ETFs) tied to digital assets.
The addition of Continuous futures for bitcoin and ether reflects its strategy of broadening crypto derivatives available to US traders.
Clay added that Cboe expects the new products to attract a wide range of participants.
“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,” she said.
By providing long-dated, perpetual-style contracts within a US-regulated environment, Cboe is positioning itself to capture both institutional and retail demand in the rapidly evolving crypto derivatives market.
