Cboe to launch FTSE Bitcoin Index Futures product on Apr. 28

Cboe Global Markets plans to roll out a new Bitcoin futures product later this month, subject to regulatory approval.

In an Apr. 7 press release, the exchange network, said the new futures contract, called the Cboe FTSE Bitcoin (BTC) Index Futures, is set to begin trading on Apr. 28. The FTSE Bitcoin Index will serve as the basis for the cash-settled futures, which will be reduced to a tenth of its value. 

The product will trade under the XBTF ticker and settle on the last business day of each month. It aims to provide traders greater control over their exposure to Bitcoin without requiring them to hold the actual asset. Cboe says the new FTSE Bitcoin Index Futures product complements its recently launched options tied to Bitcoin exchange-traded funds.

Together, these products are intended to give investors a broader set of tools for hedging or building crypto-related strategies. Cboe’s global head of derivatives Catherine Clay hailed the launch as a useful addition to their Bitcoin product ecosystem. She emphasized that it will provide traders with even more tools to navigate the digital assets ecosystem.

“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.”

Catherine Clay, Global head of derivatives at Cboe

The index used for the new futures product was developed by FTSE Russell in partnership with Digital Asset Research. It’s designed to track Bitcoin’s price using strict standards for which exchanges and data sources are included, helping ensure the index reflects the investable market.

This move aligns with Cboe’s growing commitment to digital asset products, including the listing of spot Bitcoin and Ethereum (ETH) ETFs and recent launches of Bitcoin ETF index options in both standard and mini sizes. Cboe saw a record-breaking March, registering its highest volume ever with an average of 18.8 million options contracts traded every day.

In addition, its S&P 500 contracts and proprietary index options reached a new monthly average daily volume record of 3.9 million contracts. Cboe also set a single-day SPX trading record of 4.8 million contracts on Mar. 10.