Catenaa, Saturday, November 22, 2025-Cboe Global Markets will debut perpetual-style bitcoin and ether futures, known as “continuous” futures, on December 15 pending regulatory approval.
The contracts, designed for long-term exposure without the need to roll positions, will feature 10-year expirations, daily cash adjustments, and trade on a 23×5 schedule.
Each contract will reference Cboe Kaiko Real-Time Rates, with daily funding applied to maintain alignment with spot prices.
The futures will be cash-settled and cleared through Cboe Clear US, with margin requirements set under CFTC rules. Cross-margining offsets will be possible with other CFE-listed crypto futures, including financially settled bitcoin (FBT) and ether (FET) contracts.
Cboe executives emphasized that the new products provide a US-regulated, transparent environment for perpetual-style trading, historically conducted offshore. The contracts, PBT for bitcoin and PET for ether, aim to simplify portfolio and risk management for institutional investors seeking leveraged, long-term crypto exposure.
Perpetual futures have recently surged in popularity. Volumes on decentralized exchanges surpassed $1 trillion in September, while centralized exchanges reached nearly $7 trillion last month, led by Binance and OKX.
Singapore Exchange also announced plans to launch bitcoin and ether perpetual futures on Nov. 24 to meet rising institutional demand.
