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Highlights
- Cboe said that the continuous will deliver continuous long-term market exposure to Bitcoin and Ethereum.
- The exchange aims to provide perpetual-style futures in the U.S.
- The launch is still pending regulatory review.
Derivatives exchange Cboe has revealed plans to launch continuous futures for Bitcoin and Ethereum starting in November. These Cboe continuous futures will aim to provide perpetual-style futures in a U.S.-regulated environment for traders.
Cboe Continuous Futures For BTC and ETH To Launch In November
In a press release, the exchange announced that it plans to launch continuous futures for Bitcoin and Ethereum, beginning November 10, pending regulatory review. It stated that it has designed these new futures products to “efficiently deliver continuous long-term market exposure” to BTC and ETH.
Furthermore, the Cboe continuous futures will aim to provide access to perpetual-style futures in a U.S.-regulated, intermediated environment. This is similar to the CFTC-regulated perpetual futures that the top crypto exchange Coinbase launched in July.
Cboe noted that the new product suite will offer U.S. traders a “simpler and efficient way to gain long-term exposure to digital assets, execute trading strategies and manage risk – all within a U.S.-regulated, centrally cleared and intermediated framework.”
The Cboe Continuous futures contracts will have a 10-year expiration. The exchange will also settle the contracts in cash and align them with real-time spot Bitcoin and Ethereum prices through daily cash adjustments.
The Growing Demand For Futures Products
Catherine Clay, Global Head of Derivatives at Cboe, had noted that perpetual-style futures have gained strong adoption in offshore markets. Now, her exchange is looking to bring the same utility to the U.S. market within a regulated environment, enabling traders to access these products with “confidence.”
Meanwhile, Clay stated that they expect the Cboe 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 also noted that these futures are the next steps towards advancing their product innovation roadmap as they continue to expand their offerings to serve all types of market participants.
It is worth noting that this move comes ahead of the SEC CFTC roundtable, where both agencies intend to discuss whether to consider onshoring perpetual contracts that meet investor and consumer protection. If approved, these products could trade on a regulated U.S. exchange like Cboe.
This is part of their plans to harmonize their regulatory frameworks for the crypto industry. Additionally, the SEC and CFTC have already opened the door for U.S.-regulated exchanges to offer crypto spot trading.
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