Bitcoin News Today: Cboe's 10-Year Crypto Futures Bridge Gap Between Offshore and Regulated Markets

Cboe Global Markets Inc. is set to revolutionize U.S. crypto derivatives trading with the launch of its Bitcoin and Ether Continuous Futures on December 15, 2025, marking the first time perpetual-style exposure will be available in a U.S.-regulated environment. The contracts, designed to eliminate the operational complexity of rolling expiring futures, feature a 10-year expiration and daily cash adjustments to align prices with spot markets. This innovation addresses a growing demand from institutional investors seeking efficient, long-term crypto exposure without the logistical challenges of offshore platforms.

The Continuous Futures will be centrally cleared through Cboe Clear U.S., a Commodity Futures Trading Commission (CFTC)-regulated derivatives clearing organization, and will trade 23 hours a day, five days a week. Rob Hocking, Global Head of Derivatives at Cboe, emphasized that the product streamlines portfolio and risk management while offering controlled leveraged exposure to digital assets. The contracts will track Cboe Kaiko Real-Time Rates for Bitcoin and Ether, with daily "Funding Amounts" applied to open positions to maintain price alignment. Anne-Claire Maurice of Kaiko, which provides the underlying rates, noted that the product bridges the gap between offshore perpetuals and U.S. regulatory standards, offering transparency and oversight.

Cboe's move follows a parallel trend in Asia, where Singapore's SGX Exchange launched Bitcoin and Ether perpetual futures on November 24, 2025, targeting institutional investors. SGX's contracts, benchmarking to iEdge CoinDesk Crypto Indices, aim to bring onshore, regulated access to a market segment that has historically been dominated by offshore platforms. The Singaporean exchange cited rising institutional demand and the convergence of traditional finance (TradFi) and crypto-native ecosystems as key drivers.

The global expansion of regulated crypto derivatives reflects a broader shift in institutional adoption. According to a joint Bitget-Nansen study, institutional participation on centralized exchanges has surged, with futures market-maker activity on Bitget climbing from 3% to 56.6% between January and July 2025. Meanwhile, DefiLlama data shows Bitget ranked second globally for monthly centralized exchange inflows in October, with $1.78 billion in net inflows. These metrics underscore the growing appetite for sophisticated crypto products among institutional players.

Cboe's Continuous Futures are expected to enhance capital efficiency and tactical trading flexibility, particularly for investors managing long-term crypto positions. The product's 23x5 trading schedule mirrors existing CFE crypto derivatives, ensuring continuity for traders accustomed to the exchange's ecosystem. Additionally, Cboe plans educational initiatives, including workshops on December 17 and January 13, to help market participants navigate the new instruments.

As regulatory frameworks evolve, the U.S. and Asia are converging on solutions that balance innovation with oversight. Cboe's and SGX's launches signal a maturing market where institutional-grade crypto derivatives are no longer confined to offshore venues. With perpetual-style products now accessible in major financial hubs, the stage is set for further integration of digital assets into mainstream portfolios.