Cboe Introduces Nation’s First Regulated 10-Year Crypto Futures to Address Institutional Needs
- Cboe launches first U.S.-regulated 10-year Bitcoin/Ether Continuous Futures (PBT/PET) on Dec 15, 2025, offering institutional investors long-term crypto exposure without offshore reliance. - Products feature daily cash adjustments to spot prices, eliminating rollovers, and are centrally cleared via CFTC-regulated Cboe Clear U.S., enabling cross-margining with existing FBT/FET futures. - 23×5 trading schedule and Funding Amount mechanism align with market conditions, addressing operational friction while
Cboe Global Markets is preparing to transform the U.S. crypto derivatives sector with the introduction of its
The futures will settle in cash and be cleared centrally by Cboe Clear U.S., which is overseen by the CFTC,
This launch comes amid wider regulatory changes under the Trump administration, which has shown a willingness to embrace crypto innovation. In March, the CFTC sought public input on perpetual derivatives, and
Anne-Claire Maurice from Kaiko, the provider of real-time reference rates for these contracts, pointed out the product’s ability to streamline operations: "These continuous futures remove the operational hassle of rolling positions while preserving the oversight and transparency of regulated markets"
Cboe’s initiative also comes as global competition in crypto derivatives intensifies. The Singapore Exchange (SGX) recently introduced its own perpetual futures on November 24,
To encourage uptake, Cboe’s Options Institute will conduct educational webinars on December 17 and January 13, 2026, to explain use cases and technical details
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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