CBOE Digital, the cryptogue arm of the Chicago Options Exchange Board, hopes to implement a new Bitcoin futures product (BTC) at the end of this month if the regulators approved, the exchange said on Monday.
The new commercial vehicle, in association with FTSE Russell, will be based on cash and will be based on the XBTF index, which represents 1/10 the value of the FTSE Bitcoin index. It will be established on the last business day of each month.
If the regulators approve the CBOE application, the futures would begin to quote on April 28, he said.
Futures are a type of derivatives in which the buyer and the seller agree to exchange an asset at a price and a fixed date in the future. They are a popular vehicle to cover and manage risk and capitalize on trends and market behavior.
“This launch comes at a fundamental time as the demand for exposure to cryptography continues to grow and market participants seek more and more forms of capital and versatile to win and manage that exhibition,” said Catherine Clay, global director of derivatives in CBOE, in a statement.
In November 2023, CBOE became the first regulated exchange in the USA. In offering a spot derivatives trade and leveraged on a single platform after receiving the approval of the CFTC to list the future marginalized of Bitcoin and Ethher (Eth).
