Cboe Digital, the cryptocurrency arm of the Chicago Board Options Exchange (Cboe), has announced its intent to launch a new Bitcoin futures product called XBTF on April 28, pending regulatory approval.Â
The new offering is part of Cboe’s ongoing effort to deepen its presence in the digital asset market and expand its suite of crypto-related financial products.
The XBTF futures contract will be cash-settled and is designed to offer traders a new instrument to gain exposure to Bitcoin price movements without needing to hold the underlying asset.
XBTF Futures Based on FTSE Russell Index, Designed for Capital Efficiency
The XBTF futures product is based on the XBTF Index, which tracks one-tenth of the value of the FTSE Bitcoin Index.
The index was developed by FTSE Russell in partnership with Digital Asset Research and is known for its rigorous vetting process for digital asset inclusion.
The futures contracts will settle in cash on the last business day of each month, specifically in the afternoon (P.M), providing a standardized, capital-efficient vehicle for institutional and professional traders to manage their Bitcoin exposure.
The product is aimed at satisfying increasing demand for efficient, compliant crypto investment tools.
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FTSE Russell Endorses Product, Citing Industry Standards and Integrity
Shawn Creighton, Director of Index Derivatives Solutions at FTSE Russell, emphasized the importance of transparency and rigorous standards in developing crypto indices.
He expressed enthusiasm for the partnership with Cboe, noting that the FTSE Bitcoin Index has become a benchmark for assessing digital asset value.
Creighton highlighted that the index is built with a stringent framework to ensure only high-quality, investable digital assets are included.
The structure underpins the reliability of XBTF as a trading instrument, offering reassurance to market participants about its integrity.
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Cboe’s Continued Innovation in Digital Asset Market
Cboe has been steadily expanding its digital asset offerings, building out a comprehensive infrastructure for crypto investment.
The firm already lists the majority of U.S.-based spot Bitcoin and Ether ETFs on its Cboe BZX Equities Exchange.
In addition, Cboe recently introduced the first-ever cash-settled index options tied to spot Bitcoin prices, available in both standard and mini contracts.
These innovations have led to the launch of a new generation of ETFs that utilize these options for capped-risk Bitcoin exposure.
Moreover, Cboe’s existing margined Bitcoin and Ether futures, currently traded on its digital exchange and cleared by Cboe Clear U.S., are expected to transition to the Cboe Futures Exchange (CFE) in the second quarter of 2025, pending regulatory approval.
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Institutional Demand Drives Product Launch Strategy
Catherine Clay, Cboe’s global head of derivatives, stated that the decision to introduce XBTF futures is a direct response to growing institutional demand for regulated crypto exposure.
She emphasized that the new product is intended to provide market participants with more capital-efficient tools to access Bitcoin’s price dynamics.
As the digital asset space continues to mature, the demand for institutional-grade products is rising.
Also, Cboe is positioning itself at the forefront of this trend by offering a wide range of regulated, innovative instruments tailored for professional investors.
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