Cboe to Launch Continuous Futures on Bitcoin and Ethereum
Cboe Global Markets, one of America’s derivatives giants, is preparing a significant innovation: introducing continuous futures contracts on Bitcoin and Ethereum. This marks the first time in a market typically dominated by traditional futures, which are often seen as cumbersome and complex.
Starting from November 10, 2025, pending regulatory approval, these new products will be available on the American platform of Cboe.
A Future Contract Without Short-Term Expiry
Unlike traditional futures contracts that require regular “rolling” at each expiry, Cboe’s “continuous futures” are designed to last up to ten years. A major simplification for institutional investors and active traders, who no longer need to manage the constraints of constant renewal.
Another unique feature: these contracts will be settled in cash, with daily adjustments based on real-time spot prices. Cboe highlights a transparent and replicable funding rate methodology, inspired by the operation of “perpetual futures” and their successful funding rates already prevalent on offshore platforms.
From Offshore to Regulated: a Turning Point for the United States
By adopting the idea of “perpetual” contracts in a regulated framework, Cboe is making a strategic move. Catherine Clay, Global Head of Derivatives at Cboe, clearly states:
Perpetual futures have already gained traction in offshore markets. We now aim to offer the same utility on a regulated American exchange, in a transparent and secure environment.
With this announcement, Cboe seeks to attract both major institutional investors, its traditional clients, and a new generation of retail traders interested in crypto derivatives.
A Strong Comeback in the Crypto Market
Cboe is no stranger to groundbreaking initiatives. The exchange was the first in the United States to launch Bitcoin futures in 2017, before taking a hiatus two years later during a market downturn. However, the landscape has drastically changed: in 2025, Bitcoin and Ethereum are in a bullish cycle that reignites investor interest.
These “continuous futures” will be cleared by Cboe Clear U.S., a clearinghouse regulated by the CFTC. This security measure could provide American investors with unprecedented access to derivative products comparable to those long offered by offshore entities but with the safeguards of a regulated market.
Why This is a Key Milestone for Crypto
This launch exemplifies the ongoing transformation of the crypto derivatives market. Investors, whether funds, trading firms, or individuals, demand more flexible yet regulated products. The introduction of these “continuous futures” in the United States creates a bridge between two worlds: the innovation born in the crypto sphere and the resilience of regulated markets.
For active traders in Bitcoin and Ethereum, Cboe’s announcement could be a game-changer come November. And for the entire crypto ecosystem, it signifies a new milestone: the most popular instruments from offshore platforms are now entering the American arena.
