Cboe to Launch ‘Continuous Futures’ for Bitcoin and Ether in November, Pending Approval

Cboe Global Markets announced plans to introduce a new class of crypto derivatives dubbed “Continuous futures” for bitcoin (BTC) and ether (ETH) on November 10, subject to regulatory approval. The products aim to replicate the appeal of perpetual futures contracts common on offshore exchanges while adapting them to fit within U.S. regulatory standards.

Unlike traditional futures contracts, which expire on monthly or quarterly cycles, Cboe’s Continuous futures are designed with a lifespan of up to 10 years. This extended horizon eliminates the frequent “roll” process, allowing traders to maintain exposure without incurring the costs and inefficiencies of constantly shifting into new contracts. The contracts will be cash-settled in U.S. dollars, with payouts tied to the spot price of bitcoin or ether, and adjusted daily through a transparent funding-rate mechanism.

Catherine Clay, Cboe’s head of derivatives, said the innovation is intended to bridge the gap between offshore perpetual markets and regulated U.S. trading venues. “Perpetual-style futures have seen strong adoption in offshore markets. We expect Continuous futures to resonate with institutional clients, existing CFE participants, and retail traders who want secure and regulated access to crypto derivatives,” Clay noted.

Cboe added that the contracts will clear through Cboe Clear U.S., its CFTC-regulated clearinghouse, ensuring compliance with U.S. oversight standards.

If approved, the launch would mark one of the most significant steps by a U.S. exchange to bring perpetual-style crypto derivatives into the regulated market, offering both institutions and retail investors a new way to gain long-term exposure to digital assets.