Cboe Global Markets has announced plans to launch new futures products tied to Bitcoin and Ether in November 2025, subject to regulatory clearance.
The contracts, referred to as ‘continuous futures,’ are designed to provide long-term exposure to digital assets in a regulated US environment. The contracts will differ from traditional futures, which typically require rolling at expiration. Instead, they will be structured as long-dated instruments with a 10-year maturity.
Daily cash adjustments will be used to align them with spot market prices for Bitcoin and Ether. Settlement will take place in cash, and the pricing model will follow a defined funding rate methodology that Cboe says is intended to be transparent and repeatable.
Focus on market accessibility
Cboe officials stated that the aim is to replicate some of the features of perpetual futures that have become common on offshore exchanges, while offering them through an intermediated, regulated venue. According to representatives from the company, the product is expected to appeal to a mix of institutional and retail participants who are already active in derivatives markets or looking to access digital asset exposure.
The clearing of the new contracts will be handled by Cboe Clear US, a derivatives clearing organisation overseen by the Commodity Futures Trading Commission (CFTC). This structure is intended to provide risk management safeguards through centralised clearing.
The introduction of continuous futures adds to the existing product set available on the Cboe Futures Exchange (CFE), which includes volatility derivatives and other asset classes. Officials noted that the launch reflects Cboe’s efforts to expand and diversify its futures platform.
In advance of the product rollout, Cboe’s Options Institute will host educational sessions on 30 October 2025 and 20 November 2025, open to market participants and the general public.
