Cboe Global Markets will launch perpetual-style Bitcoin and Ethereum futures called continuous futures on December 15, pending regulatory review.
The products will be listed on the Cboe Futures Exchange, with each contract carrying a 10-year expiration and a daily cash adjustment to keep prices aligned with the underlying assets.
The contracts, referred to as PBT for Bitcoin and PET for Ethereum, will trade Sunday through Friday from 11 p.m. to 10 p.m. UTC on a 23×5 schedule and will reference Cboe Kaiko Real-Time Rates.
They will be accompanied by a funding amount applied to open positions to maintain alignment with spot prices.
They will be cash-settled and cleared through Cboe Clear U.S., with margin requirements set under CFTC rules and the potential for cross-margining with other CFE-listed crypto futures.
Anne-Claire Maurice of Kaiko noted that bringing perpetual-style futures to U.S.-regulated markets addresses demand from institutional investors seeking efficient, long-term crypto exposure, while the continuous futures aim to remove the operational friction of rolling positions and preserve market transparency.
The launch had initially been targeted for Nov. 10 but was delayed to allow further regulatory review, with the CFTC having requested public feedback in April on the benefits and risks of perpetual derivatives.
Leave a Reply