Cboe is set to launch a new class of crypto futures on November 10, offering U.S. traders long-term exposure to bitcoin and ether in a regulated environment.
Key Takeaways
- Cboe plans to list Continuous futures for bitcoin and ether on November 10, pending regulatory approval
- The new products will offer 10-year expiration terms and daily price adjustments tied to spot market values
- These contracts will be available via the Cboe Futures Exchange and cleared through a CFTC-regulated clearinghouse
- This marks a major move to bring perpetual-style futures under U.S. regulation
What Happened?
CBOE Global Markets is expanding its digital asset offerings with the planned launch of Continuous futures for bitcoin and ether. Scheduled to go live on November 10, 2025, the new products aim to replicate the functionality of perpetual futures commonly found in offshore markets, while operating within a U.S. regulated framework.
These Continuous futures will provide long-duration exposure without the need for frequent contract rolling. With a 10-year expiration period, they are structured to simplify how both institutional and retail traders manage crypto derivatives.
NEWS: Cboe Plans to Launch Continuous Futures for Bitcoin and Ether, Beginning November 10
— Cboe (@CBOE) September 9, 2025
See the press release: https://t.co/EptnQm9PGW pic.twitter.com/BHH8xy3Ejm
Cboe Brings Long-Term Crypto Futures to the U.S.
Cboe’s Continuous futures are a first-of-their-kind U.S. offering, designed to serve market participants looking for consistent, long-term exposure to bitcoin and ether. These contracts will be cash-settled and adjusted daily, aligning with real-time spot prices via a transparent and replicable funding rate methodology.
This new model addresses key issues that have plagued traditional crypto futures, including:
- Frequent contract rollovers
- Operational inefficiencies
- Lack of regulatory oversight in offshore markets
By offering a 10-year expiration window, Cboe enables traders to maintain stable positions without the costs and risks associated with short-term futures.
Clearing and Compliance in Focus
All contracts will be cleared through Cboe Clear U.S., a CFTC-regulated derivatives clearing organization, adding a significant layer of risk management and trust. This approach ensures a compliance-friendly path for both institutional and retail traders looking to participate in the crypto market without directly owning digital assets.
Cboe’s Global Head of Derivatives, Catherine Clay, emphasized the importance of bringing perpetual-style utility to a trusted U.S. platform, stating:
Tailored Access for Bitcoin and Ether Traders
Both bitcoin and ether Continuous futures will be launched simultaneously. They will:
- Use the same daily funding rate mechanism to reflect spot prices
- Offer long-term pricing continuity
- Provide structured access for hedging, directional trading, or portfolio diversification
Cboe’s decision to include ether along with bitcoin reflects growing demand from institutions looking to engage with Ethereum-based assets in a compliant manner.
Building Adoption Through Education
To support the rollout, The Options Institute, Cboe’s educational arm, will offer free public training sessions on October 30 and November 20. These sessions aim to help market participants understand how Continuous futures work and how to integrate them into their trading strategies.
CoinLaw’s Takeaway
I think this move from Cboe is a game-changer for crypto derivatives in the U.S. In my experience, one of the biggest hurdles for U.S. traders has been the lack of regulated access to perpetual-style products. Offshore platforms have led the charge here, but without the same investor protections. With these new Continuous futures, Cboe is filling that gap with a product that offers both long-term value and regulatory clarity. I found their 10-year structure and daily adjustment model to be incredibly thoughtful. It simplifies trading and makes these futures way more accessible for a broader group of investors, not just the institutions.
