- Cboe Global Markets has launched a new cash-settled Bitcoin Index futures contract, expanding its crypto derivatives offerings with a simplified, regulated tool for Bitcoin exposure.
- The product, XBTF, follows strong investor demand and complements Cboe’s existing suite of digital asset products, including spot Bitcoin ETFs and options.
Cboe Global Markets has launched a new cash-settled Bitcoin Index futures product, adding to its growing suite of crypto-based financial instruments. The new contract began trading on April 29 through the Cboe Futures Exchange (CFE), marking another step in the firm’s effort to provide regulated and innovative tools for digital asset investors.
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A Strategic Addition to Cboe’s Crypto Toolkit
The newly introduced Cboe FTSE Bitcoin Index futures is a cash-settled contract based on the FTSE Bitcoin Reduced Value Index. Unlike physically delivered futures, cash-settled contracts offer exposure without requiring ownership of the underlying Bitcoin, making them simpler and more efficient for institutional and retail traders alike. The futures product, labeled XBTF, will settle monthly on the last business day, providing predictability and clarity for investors managing their portfolios.
Catherine Clay, Cboe’s Global Head of Derivatives, emphasized the significance of this addition, calling it “a key building block” in their crypto derivatives lineup. She highlighted that XBTF gives market participants a transparent and regulated way to gain exposure or hedge positions in Bitcoin.
Demand Fuels Expansion
The XBTF launch comes on the heels of growing investor interest following the success of Cboe’s cash-settled options on the Cboe Bitcoin U.S. ETF Index. The firm’s decision to introduce the futures contract was driven by strong demand for accessible and secure BTC exposure.
This expansion also aligns with Cboe’s broader crypto strategy, which includes spot Bitcoin ETFs, Bitcoin ETF options, and the CBTX Index—the first U.S. spot Bitcoin ETF index launched in December 2024. CBTX is a modified market cap-weighted index that closely tracks the performance of spot Bitcoin ETFs listed in the United States.
In addition to Bitcoin-focused products, Cboe’s BZX Equities Exchange also lists spot Ethereum (ETH) ETFs, further positioning the platform as a go-to destination for regulated crypto derivatives.
With the rollout of XBTF, Cboe continues to meet the evolving needs of crypto investors by delivering secure, regulated tools that mirror traditional financial products. As the digital asset space matures, such offerings could pave the way for broader institutional adoption of Bitcoin and beyond.
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