Cboe Bridges Crypto and Wall Street with Regulated 10-Year Futures

Cboe Global Markets, Inc. (CBOE), the world’s leading derivatives and securities exchange network, has announced plans to launch Cboe Continuous futures for bitcoin and ether on its Cboe Futures Exchange (CFE) on November 10, 2025, pending regulatory approval. This initiative marks a significant expansion of Cboe’s digital asset product offerings and aims to provide U.S. traders with a regulated alternative to offshore perpetual-style futures.

These Continuous futures will differ from traditional futures contracts by offering a single, long-dated structure with a 10-year expiration. This approach minimizes the need for frequent contract rolling, a process that is both costly and operationally complex. Instead, the contracts will be cash-settled daily, aligning their values with the real-time spot prices of bitcoin and ether using a transparent and replicable funding rate methodology. This structure is designed to simplify long-term exposure and position management for traders.

Catherine Clay, Global Head of Derivatives at Cboe, emphasized the potential appeal of these futures to both institutional and retail market participants. “Perpetual-style futures have gained strong adoption in offshore markets,” she said during the HOOD Summit in Las Vegas. “Now, Cboe is bringing that same utility to our U.S.-regulated futures exchange,” she added, noting the importance of providing this product in a trusted, transparent, and intermediated environment.

The launch builds on Cboe’s broader strategy to expand its CFE product suite, which already includes flagship products such as Cboe Volatility Index (VIX) futures. These new contracts will be cleared through Cboe Clear U.S., a CFTC-regulated derivatives clearing organization, further reinforcing Cboe’s role in the global derivatives ecosystem. The move also positions Cboe to strengthen its global clearing capabilities and expand its influence in the evolving crypto derivatives market.

To support traders in understanding and utilizing the new product, Cboe’s The Options Institute will host educational sessions on October 30 and November 20. These sessions, open to the public, aim to enhance market literacy and promote informed participation in the new futures market.

The introduction of Cboe Continuous futures underscores the growing demand for regulated crypto derivatives in the U.S. market. While offshore exchanges have seen widespread adoption of perpetual-style futures, U.S. traders have previously lacked access to similar products under a centralized and regulated framework. Cboe’s offering aims to bridge that gap by delivering a product that aligns with U.S. regulatory standards while replicating the flexibility and efficiency of offshore instruments.

With this initiative, Cboe continues to solidify its position as a key player in the convergence of digital assets and traditional finance. The launch reflects the company’s commitment to innovation and its broader vision of creating a robust, regulated ecosystem for both institutional and retail participants in the crypto markets.