Cboe announces the launch of XBTF #CriptoNews

Cboe Global Marketsthe largest global network for the exchange of derivatives and securities, has announced the launch of a new product: the Cboe FTSE Bitcoin Index Futuresscheduled to debut on the Cboe Futures Exchange (CFE) on April 28, 2025, pending regulatory approval. The new contracts result from collaborative work with FTSE Russella well-known entity for structuring market indices, and will be based on the FTSE Bitcoin Reduced Value Index (ticker: XBTF)equivalent to one-tenth of the main FTSE Bitcoin index value.

Cboe expands the offering of Bitcoin derivatives with a new instrument based on the FTSE index

For some time now, Cboe has been consolidating its position in the derivatives market on digital assets, and the introduction of XBTF futures represents a significant evolution. These cash-settled contracts are designed as the ideal complement to the options already active on the Cboe Bitcoin U.S. ETF index, completing an ecosystem that offers investors greater versatility, capital efficiencyand above all, new ways to navigate Bitcoin volatility. The XBTF contracts will be cash-settledexpiring on the last business day of each month, in the afternoon (time slot ‘P.M.’). A key point is that they will be managed by OCCthe same entity that already handles clearing for options on CBTX and MBTX, further strengthening the guarantee structure around these products.

Rigorous indexing for a reliable tool

At the core of the future XBTF is a carefully constructed index: the FTSE Bitcoin Reduced Value, conceived by FTSE Russell in collaboration with Digital Asset Research. The goal is ambitious yet clear: to offer a reliable benchmark that faithfully and representatively reflects the investable digital asset market. A careful selection of platforms and underlying assets, accompanied by constant monitoring, contributes to the credibility of the index and thus of the derivative product built on it.

Cboe: a favorable moment for the launch of the new product on Bitcoin

According to Catherine ClayGlobal Head of Derivatives at Cboe, the arrival of these new futures comes at a decisive time: “The demand for exposure tools to the crypto world is growing strongly,” observes Clay. “Clients are looking for more capital-efficient and flexible methods to access this type of market, and our new offerings fit perfectly into this dynamic.” The launch of the XBTF follows the recent success of options on the Cboe Bitcoin ETF index, available in both standard and mini contractsan innovation that has already triggered new ETFs on the market based precisely on these instruments. Additionally, Cboe lists a significant share of the physical ETFs on Bitcoin and Ethereum in the United States, reinforcing its centrality in this segment.

A complete range for an evolved strategy

In practice, Cboe intends to build an integrated platform where investors and traders can effectively impact Bitcoin exposure, combining different instruments – cash-settled futures, options, and ETFs – for advanced hedging or allocation strategies. As highlighted by Cboe, each of these products can operate independently for risk management related to Bitcoin volatility, but their combined use opens the doors to sophisticated and differentiated strategiesincreasingly demanded by institutional and professional investors.

Flexibility, innovation, and security at the center of Cboe’s Bitcoin vision

In its growth journey in the world of digital assets, Cboe demonstrates consistency and foresight. In addition to the new XBTF futures, the company offers Bitcoin and Ether futures with margin – currently traded on Cboe Digital Exchange – and plans their move to the CFE in the second quarter of 2025, pending approval from the relevant authorities. From an infrastructural standpoint, the use of reliable clearing entities such as OCC and Cboe Clear U.S. is part of a broader strategy to ensure operational securityrisk management, and regulatory protectionfundamental elements to attract institutional capital in a sector historically perceived as unstable.

FTSE Russell: top partner for an evolved market

FTSE Russell, a subsidiary of LSEG, also shows enthusiasm for the new collaboration. Shawn Creightondirector of index derivative solutions, emphasized how this launch represents a natural extension of FTSE’s mission: “We have created a technical and methodological standard for the construction of reliable digital indices, with a rigorous inclusion and monitoring process. This allows us to contribute significantly to the maturation of the market.”

Towards a more mature future for digital markets

The picture that emerges from this new initiative by Cboe is that of a rapidly evolving ecosystem, where traditional financial instruments integrate with the liquid and decentralized nature of digital assets. The success of products like XBTF could accelerate the institutional adoption of Bitcoin, incorporating it into strategic portfolios through models of completely regulated risk management.

The announcement of April 28 as a potential launch date thus marks not only the entry of a new product into the market but also a strong signal: the crypto markets are increasingly becoming an integral part of global finance. And Cboe, a leader in derivatives innovation, is determined to remain at the center of this transformation.