Cboe Digital, the cryptocurrency arm of the Chicago Options Exchange, plans to launch a new Bitcoin (BTC) futures product by the end of this month
The Chicago Options Exchange (Cboe) is venturing deeper into the cryptocurrency market with the introduction of a new Bitcoin futures product, set to launch by the end of April, pending approval from relevant authorities.
This product, which will be co-branded with FTSE Russell, will be cash-collateralized and futures will trade on the XBTF Index, which represents 1/10th of the value of the FTSE Bitcoin Index. The product will also be settled on the last business day of each month.
Cboe announced that if it receives regulatory approval, trading for the futures will begin on April 28.
“This launch comes at a critical time when demand for cryptocurrencies is increasing and market participants are seeking more efficient and flexible tools to meet that demand,” said Catherine Clay, Cboe's global head of derivatives.
In November 2023, Cboe became the first regulated exchange to offer both Bitcoin and Ether (ETH) futures on a single platform after receiving approval from U.S. regulators.
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