ICE Launches CoinDesk-Linked Crypto Futures, Plans USDC Rate Contracts

HONG KONG — Intercontinental Exchange (ICE), the operator of the New York Stock Exchange, has introduced a new range of cryptocurrency futures tied to CoinDesk indices, expanding its footprint in regulated digital asset markets. The contracts began trading Monday after first being announced on Jan. 9.

The newly listed futures are cash-settled and denominated in U.S. dollars, offering exposure to seven CoinDesk benchmarks. The lineup includes broad-market products linked to the CoinDesk 20 and CoinDesk 5 indices, as well as single-asset futures tracking bitcoin, ether, solana, XRP and BNB.

Because the contracts settle in cash rather than requiring physical delivery of tokens, they are structured to meet institutional demand for crypto price exposure without the complexities of custody and token management.

ICE is now preparing to expand the offering with One Month CoinDesk Overnight Rates (CDOR) USDC futures, subject to regulatory approval. The proposed contracts would track the annualized effective borrowing rate in decentralized finance (DeFi) markets.

The rate-based products are intended to mirror the role traditional benchmarks such as the Secured Overnight Financing Rate (SOFR) play in conventional finance, allowing market participants to trade expectations around short-term funding costs. By doing so, ICE aims to position crypto not only as an asset class driven by price movements but also as a developing credit and liquidity market.

The exchange operator also emphasized the scale of CoinDesk’s index ecosystem, noting that tens of billions of dollars are benchmarked to its indices. The CoinDesk 20, which uses a capped market-cap-weighted methodology, is designed to represent a substantial portion of the broader digital asset market.

With index futures now live and rate products in development, ICE is advancing efforts to bridge traditional derivatives infrastructure with onchain financial activity.