Cboe to debut bitcoin and ether Continuous futures in November
Cboe Futures Exchange aims to introduce long-dated crypto contracts under US regulatory oversight
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Cboe Global Markets announced on September 9 that it plans to launch bitcoin and ether “Continuous futures” on the Cboe Futures Exchange (CFE) beginning November 10, 2025, pending regulatory review.
The contracts are designed to mimic the appeal of offshore perpetual futures while operating within a US-regulated, centrally cleared, and intermediated framework.
Unlike traditional futures, which require periodic rolling into new maturities, Continuous futures are structured as single, long-dated contracts with a 10-year expiration. According to Cboe, positions will be adjusted daily to spot prices of bitcoin and ether using a transparent funding rate mechanism, creating a regulated alternative to perpetual contracts.
Catherine Clay, Cboe’s Global Head of Derivatives, said the products are intended to expand access to US traders, including institutions and retail customers, while simplifying risk management. The initiative follows Cboe’s June 2025 migration of its financially settled bitcoin and ether futures to CFE, part of its broader roadmap to expand digital asset offerings.
The contracts will clear through Cboe Clear U.S., a derivatives clearing organization regulated by the Commodity Futures Trading Commission (CFTC). Educational sessions hosted by Cboe’s Options Institute are scheduled for October 30 and November 20. While the exchange emphasized regulatory safeguards, it cautioned that futures trading carries substantial risk and may not suit all participants.
Cboe first entered crypto derivatives with margined Bitcoin and Ether futures, announced in November 2023 and launched on Cboe Digital on January 11, 2024. Backed by 11 major firms, the launch made Cboe the first U.S.-regulated crypto-native exchange to offer both spot and leveraged futures on one platform.
On June 9, 2025, Cboe migrated its Financially Settled Bitcoin (FBT) and Ether (FET) futures from Cboe Digital to the Cboe Futures Exchange (CFE), bringing them under its centrally cleared ecosystem. These contracts are cash-settled, reference Kaiko rates, and trade nearly 24×5, providing regulated tools for speculation, hedging, and risk management.
This is a developing story.
Updated 10:29 a.m. ET for with details about Cboe.
This article was generated with the assistance of AI and reviewed by editor Jeffrey Albus before publication.
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