New Cboe FTSE Bitcoin Index Futures planned to launch on April 28, 2025, subject to regulatory review
Cboe Global Markets, the world’s leading derivatives and securities exchange network, announced plans to introduce Cboe FTSE Bitcoin Index futures. Based on the FTSE Bitcoin Reduced Value (1/10th) (Ticker: XBTF) Index, the new futures are expected to begin trading on Cboe Futures Exchange, LLC (CFE) on April 28, 2025, subject to regulatory review. This launch marks the first product to be introduced under Cboe’s latest collaboration with FTSE Russell, focused on driving product innovation in the digital assets markets
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Building on Cboe’s growing suite of bitcoin derivatives products, the new XBTF futures are designed to complement its recently launched options on the Cboe Bitcoin U.S. ETF Index1 (Tickers: CBTX, MBTX). By offering both cash-settled futures and securities options based on bitcoin, Cboe intends to provide market participants with a more comprehensive suite of products to implement trading and hedging strategies related to bitcoin. Cboe expects each product can be a useful tool for managing bitcoin volatility on their own, or both products can be used in tandem to execute more advanced trading strategies. Additionally, Cboe plans to clear XBTF futures through OCC, which also clears CBTX and MBTX options.
“We’re excited to expand our collaboration with FTSE Russell to help grow the digital assets markets through continued innovation,” said Catherine Clay, Global Head of Derivatives at Cboe. “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. Many of our customers are already utilizing Cboe’s full suite of bitcoin products – whether the spot U.S. bitcoin ETFs listed on Cboe’s equities exchange, our cash-settled Bitcoin ETF index options, or defined-outcome ETFs that hold those options. These new futures will be the latest addition to continue evolving our bitcoin product ecosystem and providing traders with even more tools to navigate the digital assets market.”
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XBTF futures are cash-settled contracts and settle in the afternoon (P.M) on the last business day of each month. They are based on the XBTF Index – developed by FTSE Russell in collaboration with Digital Asset Research – which represents 1/10th the value of the FTSE Bitcoin Index.
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Shawn Creighton, Director, Index Derivatives Solutions at FTSE Russell, an LSEG business, commented: “We’re delighted to be working with Cboe on the expansion of its bitcoin product ecosystem, with the introduction of futures based on the FTSE Bitcoin Index. We have established an industry standard for assessing underlying digital asset and exchange inclusion, and our rigorous vetting and monitoring process is designed to help ensure our indices are reflective of the investable digital assets market.”
Cboe has continued to expand its digital asset offerings in recent years, providing a wide range of product offerings to provide customers greater flexibility and choice. Cboe lists a majority of U.S. spot bitcoin and ether ETFs on its Cboe BZX Equities Exchange. Cboe recently also launched the market’s first cash-settled index options related to the price of spot bitcoin, available in both standard and mini contracts. This innovation has since spurred a new wave of ETFs listing on Cboe and using these options to help provide investors with capped-risk exposure to Bitcoin. Additionally, Cboe offers margined bitcoin and ether futures cleared through Cboe Clear U.S., LLC, which currently trade on Cboe Digital Exchange and are planned to be migrated to CFE in the second quarter of 2025, subject to regulatory review.
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Source – PR Newswire
