CMC News

Cboe Debuts Perpetual $BTC and $ETH Futures for U.S. Traders on Dec. 15

Cboe Global Markets will launch perpetual-style #Bitcoin and #Ethereum futures called continuous futures on Dec. 15, pending regulatory review. The products will be listed on Cboe Futures Exchange.

Each futures contract will list with a 10-year expiration and apply a daily cash adjustment to keep prices aligned with the underlying asset. Rob Hocking, Cboe's global head of derivatives, stated that as perpetual futures have historically been traded offshore, Cboe is expanding access within a U.S.-regulated, transparent and intermediary-friendly environment.

Perpetual futures DEX volumes topped $1 trillion in September, the highest on record, while centralized exchange futures volumes driven largely by perpetuals reached nearly $7 trillion last month.

Cboe's perpetual-like contracts, PBT for $BTC and PET for $ETH, will trade Sunday through Friday from 11 p.m. to 10 p.m. UTC on a 23x5 basis. The products will reference Cboe Kaiko Real-Time Rates, with a daily funding amount applied to open positions to maintain alignment with spot prices.

The futures will be cash-settled and cleared through Cboe Clear U.S., with margin requirements set under CFTC rules and potential cross-margining offsets with other CFE-listed crypto futures. This includes financially settled Bitcoin and Ethereum contracts already trading on the exchange.