CBOE Global Markets, the world's leading derivatives and security exchange networks, have announced that it has begun to offer trading to the new CBOE FTSE Bitcoin Index Futures. The firm said the new cash-settled futures are based on the FTSE Bitcoin reduced index value (XBTF).
Cboe mentioned That XBTF futures are fixed in the afternoon on the last business day of each month. The firm added that new futures are based on the XBTF index, which represents 1/10 the FTSE bitcoin index value.
CBOE launched the cash-settled bitcoin index futures
The latest addition to our growing suite of digital asset derivatives is available for trading: CBOE FTSE Bitcoin Index Futures (#Xbtf)
More details and comments from market participants in press release: @Ftsesesell pic.twitter.com/oum0y8fydr
– CBOE (@cboe) April 29, 2025
CBOE Global Markets have added new cash futures based on the FTSE Bitcoin Reduced Value Index, which is the latest addition to the growing suite of digital asset derivatives. The Futures Exchange Firm announced the launch of the CBOE FTSE FTSE bitcoin index futures, which is exclusively listed in the CBOE Futures Exchange, LLC (CFE).
The company noted that the new XBTF Futures is expected to provide market participants another versatile tool to express views on BTC or manage the risk. CBOE also acknowledged that XBTF futures are CASH contracts, which means that positions are closed in cash in expiry. The firm argued that it eliminated the complexity of the physical transmission of digital assets.
“While customer demand for crypto-based derivatives continues to rise, CBOE is focused on developing a well-rounded ecosystem to help facilitate better, flexible access to Bitcoin exposure and risk management.”
–Catherine ClayGlobal Head of Derivatives in CBOE.
Clay added that the launch of the new CBOE FTSE Bitcoin Index Futures adds a major building block to the company's crypto derivatives toolkit. He argued that it would offer market participants another versatile tool to obtain and aspire to hedge the BTC exposure, all within a regulated and transparent market with a centralized covering.
CBOE promotes cash-settled products
1/big news: @Cboe Bitcoin index options are live! 🚨
While it doesn't get Bitcoin ETF-Level Buzz from retail, it's not mistaken-it's a game changing.
Why? These flexible options will open the door to the "specified outcome" Product market for bitcoin.
Let's break it 🧵: pic.twitter.com/tx1dcqgei5
– Jeff Park (@DGT10011) December 3, 2024
The Futures Exchange introduced XBTF Futures following the previous launch of cash-settled options in CBOE Bitcoin US ETF Index (CBTX and MBTX). The firm argued that the same launch created an auxiliary suite of bitcoin -related products related to Bitcoin.
The company said it is hoped that each product will become a beneficial tool for BTC's volatility management on its own. CBOE also hopes that both products can be used in tandem to perform more advanced trading techniques. The exchange noted that XBTF futures are being cleared by OCC, which also removes CBTX and MBTX.
Barak Capital commented on the launch and said that the ability to access the good and stable market was of utmost importance, as the investor's participation in virtual currencies grew and became more established. The firm also featured that it was an established liquidity provider for CBEE markets for years.
The Barak Capital noted that it hopes to act as a liquidity provider at the CBOE FTSE Bitcoin Index Futures and to also support the CBOE market in the product.
Tom Chlada, chief operating officer at Prime Trading, LLC, identified that Prime Trading was excited to support the continued expansion of CBOE's CBOE of the crypto derivatives product suite. He also revealed the company's chaos about acting as a liquidity in the new XBTF futures.
Chlada maintains that the trading chief is strongly aligned with CBOE's efforts to grow the crypto derivatives market. He also added that the company would expect cooperation with CBEE to provide its customers a “Best-in-class trading experience.”
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