Cboe Global Markets announced the launch of trading in its new Cboe FTSE Bitcoin Index futures, expanding its suite of regulated cryptocurrency derivatives. The futures are based on the FTSE Bitcoin Reduced Value Index (Ticker: XBTF).
Cboe Futures Exchange Begins Trading in Cboe FTSE Bitcoin Index Futures
The contracts began trading Tuesday on the Cboe Futures Exchange (CFE), offering cash-settled exposure to bitcoin through the FTSE Bitcoin Reduced Value Index.
The exchange stated that the new XBTF futures provide institutional and professional investors with a tool to gain or hedge bitcoin exposure. XBTF futures are cash-settled contracts.
“As customer demand for crypto-based derivatives continues to rise, Cboe is committed to building a well-rounded ecosystem to help facilitate more efficient, flexible access to bitcoin exposure and risk management,” said Catherine Clay, Global Head of Derivatives at Cboe.
The launch complements Cboe’s existing digital asset offerings, including spot bitcoin ETFs and cash-settled options on the Cboe Bitcoin U.S. ETF Index.
The products can be used to manage market risk or execute advanced strategies. All are cleared through the Options Clearing Corporation (OCC).
Market participants welcomed the development. Barak Capital said it would act as a liquidity provider, while Prime Trading, LLC praised the move as part of a broader effort to deliver a “best-in-class trading experience.”
XBTF futures are settled on the last business day of each month and reflect 1/10th the value of the FTSE Bitcoin Index.
