Cboe announces the upcoming release of Bitcoin futures alongside FTSE Russell.

Cboe Digital to Unveil Bitcoin Futures Product in Partnership with FTSE Russell

Cboe Digital, the crypto-focused arm of the Chicago Board of Options Exchange, is preparing to launch a new Bitcoin (BTC) futures product later this month, pending approval from regulators, the exchange announced on Monday.

Developed in collaboration with FTSE Russell, the futures contracts will be cash-settled and based on the XBTF Index, which tracks 1/10th of the value of the FTSE Bitcoin Index. These contracts will settle on the final business day of each month.

If approved, the new futures product will begin trading on April 28.

Bitcoin futures are financial derivatives where participants agree to buy or sell Bitcoin at a predetermined price on a future date, offering an opportunity to hedge or speculate on price movements in the digital asset market.

“The timing of this launch is critical as demand for crypto exposure continues to grow, and market participants are increasingly seeking more flexible and efficient methods to gain exposure and manage risks,” 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.