Cboe to Launch 10-Year Bitcoin, Ethereum Futures
Cboe Global Markets, one of the world’s largest derivatives and securities exchange networks, has announced plans to launch new continuous futures contracts for Bitcoin (BTC) and Ethereum (ETH) on November 10, 2025. The products are designed to give traders long-term exposure to crypto assets in a U.S.-regulated environment, addressing growing demand for secure, transparent alternatives to offshore markets.
Unlike conventional futures, which expire in weeks or months, continuous futures can run for as long as 10 years, closely resembling the “perpetual futures” that dominate trading volume on international crypto exchanges. These contracts will be cash-settled and tied to spot market prices using a transparent funding-rate model, ensuring alignment with real-time market movements.
The new products will trade on the Cboe Futures Exchange (CFE) and be cleared through Cboe Clear U.S., a CFTC-regulated clearinghouse that brings risk management and oversight not typically available on offshore platforms.
Catherine Clay, Global Head of Derivatives at Cboe, said the launch bridges a key gap between traditional finance and the fast-growing crypto market.
“Perpetual-style futures have gained strong traction offshore. By bringing them to our regulated U.S. futures exchange, we give both institutional and retail traders a trusted, transparent, and intermediated way to access these products,” she explained.
Cboe expects the contracts to appeal to a broad base, from hedge funds and market makers to smaller investors seeking exposure to crypto derivatives without navigating the complexities of unregulated venues.
The launch also signals Cboe’s return to the crypto derivatives market, years after it first introduced and later discontinued Bitcoin futures in 2017. This time, the exchange aims to differentiate itself from rivals like CME Group by offering innovative, long-term structures tailored to digital assets.
While the market impact will unfold in time, the move marks a strategic evolution for Cboe—one that could further legitimise crypto derivatives within U.S. markets and accelerate the convergence of traditional finance and blockchain-based assets.
