Cboe to Launch Bitcoin (BTC), Ether (ETH) ‘Perpetual-Style’ Crypto Futures on Dec. 15

Cboe Global Markets is set to launch Bitcoin Continuous Futures (PBT) and Ether Continuous Futures (PET) on December 15, 2025. These contracts are designed to mimic perpetual futures, allowing for long-term exposure to cryptocurrencies without the typical rollover hassles associated with traditional futures. Each contract will have a 10-year expiration and will be cash-settled, featuring daily funding adjustments to align with spot prices. This initiative is particularly targeted at institutional investors and sophisticated retail traders, aiming to provide a compliant alternative to offshore perpetual futures platforms that carry regulatory risks. Rob Hocking, Cboe’s global head of derivatives, emphasized that the design facilitates efficient risk management while offering leveraged exposure to digital assets. Cboe's move is significant as it complies with U.S. regulatory standards, offering a structure that could greatly appeal to hedge funds and asset managers who have been hesitant to engage with offshore crypto platforms.

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