According to a recent Coindesk report dated April 8th, Cboe Digital, the cryptocurrency division of the Chicago-based Cboe options exchange, is set to unveil a new Bitcoin futures product on April 28th, pending necessary regulatory approvals. This innovative product will be launched in collaboration with FTSE Russell and will utilize the XBTF Index, which is designed to represent one-tenth of the FTSE Bitcoin Index’s value. Notably, the futures contracts will be cash-settled and are scheduled for settlement on the last business day of each month.
Catherine Clay, the Head of Global Derivatives at Cboe, highlighted that the timing of this launch aligns with rising investor demand for diversified exposure to cryptocurrencies. As more investors look for efficient means to manage their crypto assets, Cboe aims to offer products that facilitate this drive. Cboe has already established itself as a pioneer in the space, having received CFTC approval in November 2023 to simultaneously provide both spot and leveraged derivatives trading.