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>>Cboe introduces futures contracts based on a Bitcoin index, with cash settlement.

Cboe introduces futures contracts based on a Bitcoin index, with cash settlement.

crypthub

4/29/2025, 5:51:30 PM

New Bitcoin Derivative Offering

Cboe Global Markets introduced new Bitcoin (BTC) index futures on the Cboe Futures Exchange. This new product, named XBTF, is a cash-settled futures contract based on the FTSE Bitcoin Reduced Value Index. It expands Cboe's suite of digital asset products, building on existing spot Bitcoin ETFs and Bitcoin ETF options. The offering provides another avenue for investors to engage with BTC.

Product Details and Settlement

XBTF settles in the afternoon on the last business day of each month. The contract is cash-settled, simplifying the process compared to physically-delivered Bitcoin. Cboe developed the offering in collaboration with Cboe Labs and Cboe Global Indices. This launch responds to considerable investor demand.

Broader Digital Asset Suite

Cboe's BZX Equities Exchange also lists spot Ether (ETH) ETFs, demonstrating a commitment to diverse digital asset offerings. The Cboe FTSE Bitcoin Index Futures serves as a significant addition to Cboe's crypto derivatives tools. The product aims to provide a regulated and transparent marketplace for Bitcoin exposure.

Index Background and Purpose

The Cboe FTSE Bitcoin Index Futures builds upon the Cboe FTSE Bitcoin Index. This index, CBTX, is a modified market cap-weighted index that tracks the performance of spot BTC ETFs listed in the U.S. It closely correlates with the price of spot Bitcoin and was introduced in November 2024.