Cboe set to launch new FTSE Bitcoin futures product in April

The Chicago Board Options Exchange (Cboe) has announced the motorboat of a caller Bitcoin futures derivative product.

According to an April 7 announcement, Cboe plans to motorboat the FTSE Bitcoin Index futures connected April 28, which is based connected the VanEck Bitcoin Strategy ETF (XBTF), if approved by regulators.

The caller merchandise volition beryllium cash-settled, and similar XBTF, it volition correspond one-tenth of the worth of the FTSE Bitcoin Index. The futures volition settee connected the past concern time of each month.

This is the archetypal merchandise that was launched arsenic a effect of Cboe’s collaboration with the London Stock Exchange Group’s scale subsidiary, FTSE Russell. The caller Bitcoin derivative product is reportedly meant to complement its precocious launched Bitcoin options offerings Bitcoin US ETF Index Options (CBTX) and Bitcoin US ETF Index Options (MBTX). Catherine Clay, planetary caput of derivatives astatine Cboe, said:

“This motorboat comes astatine a pivotal clip arsenic request for crypto vulnerability continues to turn and marketplace participants are progressively seeking much capital-efficient and versatile ways to summation and negociate that exposure.”

Related: Largest ever CME spread has conscionable printed successful Bitcoin futures

Cboe continues crypto merchandise development

Cboe is simply a large subordinate successful the worldwide fiscal scenery and a historical instauration founded successful 1973. The speech is besides a supplier of Bitcoin (BTC) products, having launched its archetypal Bitcoin futures contracts connected Dec. 10, 2017.

Now, Cboe continues to innovate the accepted markets that look truthful glacial successful their improvement to crypto natives. In aboriginal February, the speech further shrank the spread betwixt crypto and accepted concern by announcing plans to rotation retired a 24-hour trading day — but lone connected weekdays.

Related: Cboe files amended applications to database Bitcoin, Ethereum options successful US

Bitcoin futures are not a happening of the past

Despite the instauration of Bitcoin exchange-traded funds (ETFs), Bitcoin futures are inactive wide traded and discussed among crypto marketplace participants. In precocious March, Bitcoin futures leveraging led to a $10 cardinal unfastened involvement wipeout.

Product improvement is besides inactive ongoing successful the segment. In March, Coinbase announced that it plans to connection 24/7 trading for Bitcoin and Ether futures to US residents.

Also successful March, Singapore Exchange (SGX), the largest speech radical successful Singapore, was reported to plan to debut Bitcoin perpetual futures successful the 2nd fractional of 2025.

Magazine: Bitcoin heading to $70K soon? Crypto baller funds SpaceX flight: Hodler’s Digest, March 30 – April 5