Cboe Global Markets is gearing up to introduce a new Bitcoin futures product the Cboe FTSE Bitcoin Index Futures slated for trading start on April 28 pending regulatory nods. The new futures contract will be based on the FTSE Bitcoin Index and is designed as a cash-settled offering reduced to a tenth of Bitcoin’s value enabling finer control over Bitcoin exposure without direct ownership.

Trading under the ticker XBTF the product will settle transactions on the last business day each month. Aimed at enhancing traders’ arsenal the futures complement Cboe’s recent Bitcoin ETF options providing a diversified toolkit for navigating the cryptocurrency markets. Catherine Clay Cboe’s global head of derivatives praised the new product as a significant addition enhancing trading flexibility amidst rising crypto demand.

The FTSE Bitcoin Index developed by FTSE Russell and Digital Asset Research ensures accurate Bitcoin price tracking by employing stringent criteria for exchange and data inclusion. This strategic expansion in Cboe’s digital asset offerings marks a continued commitment to providing advanced trading tools capturing the burgeoning interest in cryptocurrency investments.

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