The Chicago Board Options Exchange (Cboe) said it plans to introduce a new Bitcoin futures product on April 28, 2025. This new product will be based on the VanEck Bitcoin Strategy ETF (XBTF) and will track the FTSE Bitcoin Index.
Cboe is working with FTSE Russell, a London Stock Exchange Group subsidiary, to launch this product.
According to the announcement, the futures will be cash-settled and will settle on the last business day of the month. Each contract will be equivalent to one-tenth the value of the FTSE Bitcoin Index.
Cboe’s Global Head of Derivatives, Catherine Clay, emphasized that the new launch comes at a crucial time. “This launch comes at a pivotal time as demand for crypto exposure continues to grow and market participants are increasingly seeking more capital-efficient and versatile ways to gain and manage that exposure,” Clay said in the announcement.
This new offering is expected to complement Cboe’s other Bitcoin-related products, such as the Bitcoin US ETF Index Options (CBTX) and Bitcoin US ETF Index Options (MBTX), which were recently launched.
Cboe began operations in the financial market in 1973. The exchange launched Bitcoin futures contracts in December 2017, making it among the first large exchanges to do so.
Cboe has persisted in innovating within the crypto space throughout the years. In early February 2025, the exchange made an announcement regarding the launch of a 24-hour trading day for crypto products in an effort to make crypto markets more accessible for global investors.
Even with increased popularity in Bitcoin exchange-traded funds (ETFs), Bitcoin futures are still widely traded. Futures contracts provide investors with opportunities to hedge, speculate, and offset risk when markets are volatile. Cboe’s new product is anticipated to continue cultivating interest in this part of the crypto market.
Other companies are also expanding their crypto product offerings. Coinbase, for example, announced plans to introduce 24/7 trading for Bitcoin and Ether futures. The Singapore Exchange (SGX) is set to launch Bitcoin perpetual futures in the second half of 2025.
Also Read: BlackRock, SEC Meet Privately to Discuss Next Step of Crypto ETFs
