Cboe Brings Bitcoin and Ethereum Futures to US Market

Cboe Brings Long-Term Bitcoin and Ethereum Futures to US Market

Written by Aaron S.,

Editor-In-Chief

Last Updated: September 10, 2025

Key Takeaways

Cboe plans to launch "continuous futures" for Bitcoin and Ethereum on November 10, which will offer contracts with up to 10-year durations;
These long-term contracts mimic the behavior of offshore perpetuals by using funding adjustments to track spot prices, with cash settlement;
With perpetuals making up 68% of 2025 Bitcoin trading volume, Cboe aims to bring that popular structure into a regulated US framework.

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Cboe Global Markets has announced plans to offer a new kind of futures contract tied to Bitcoin BTC $113,755.05 and Ethereum ETH $4,362.10 , with the aim of simplifying crypto trading for US-based investors.

These contracts, referred to as "continuous futures", will be introduced on November 10, according to a September 9 announcement.

Instead of the usual short-term format, these contracts have a long expiration window, which lasts up to 10 years. The goal is to make it easier for market participants to maintain exposure to crypto assets over the long run without needing to frequently renew contracts.

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Though these contracts will eventually expire, their structure mimics the way perpetual contracts work on offshore and decentralized platforms. Perpetuals are favored in crypto trading for their ability to track spot prices without fixed settlement dates.

Similarly, Cboe’s new offering uses regular funding adjustments to align with the actual market value of Bitcoin and Ethereum. All trades will be settled in cash.

According to Catherine Clay, who leads derivatives at Cboe, the idea is to bring a familiar tool from offshore exchanges to a US-regulated setting. She said:

Perpetual-style futures have gained strong adoption in offshore markets. Now, Cboe is bringing that same utility to our US-regulated futures exchange.

Research from crypto data provider Kaiko indicates that in 2025, perpetual contracts made up around 68% of Bitcoin’s total trading volume across the industry.

Coinbase recently announced plans to release a new futures product called "Mag7 + Crypto Equity Index Futures". What is the goal of the product? Read the full story.