Cboe Global Markets plans to launch "continuous futures" contracts for Bitcoin and Ethereum, bringing popular trading products from decentralized finance to the U.S. market.
The Cboe Global Markets derivatives exchange, a subsidiary of the Chicago Board Options Exchange, announced on Tuesday that it will launch the product on November 10, pending regulatory review.
The continuous futures for Bitcoin (BTC) and Ethereum (ETH) will provide U.S. traders with "a single long-term contract with a duration of 10 years, reducing the need to roll over positions over time and simplifying position management."
Unlike traditional futures contracts that may require regular rollovers, continuous futures function similarly to perpetual contracts, which have no expiration date and are popular in DeFi and offshore exchanges.
Cboe's contracts will use transparent funding to align with BTC and ETH spot prices and will be cash-settled.
Catherine Clay, Cboe's global head of derivatives, stated, "Perpetual futures have seen strong adoption in offshore markets. Now, Cboe is bringing the same utility to our U.S. regulated futures exchange."
According to Kaiko research, as of 2025, perpetual contracts accounted for 68% of all Bitcoin trading volume.
These new continuous futures represent a different product structure compared to the Bitcoin futures products that Cboe previously offered since 2017.
This launch marks Cboe's re-expansion into the crypto derivatives market after previously exiting.
U.S. financial regulators had previously blocked exchanges from launching such products, but under the Trump administration, a more favorable stance towards cryptocurrencies opened the door for more crypto derivatives products.
Cboe is not the first exchange to offer crypto perpetual contracts to U.S. traders.
Bitnomial launched the first U.S. perpetual futures contract in April. Coinbase followed closely, launching its nano Bitcoin perpetual futures and nano Ethereum perpetual futures in July.
Related: U.S. Senate Democrats propose a competitive framework for cryptocurrency market structure
Original: “Cboe plans to launch 10-year Bitcoin (BTC) and Ethereum (ETH) futures in the U.S.”
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