Cboe to launch FTSE Bitcoin Index Futures on April 28

CBOE Global Markets plans to deploy a new Bitcoin term product later this month, subject to regulatory approval.

In an April 7 press releaseThe exchange network, said the new term contract, called CBOE FTSE Bitcoin (BTC) Tower contracts on the index should start to negotiate on April 28. The Bitcoin FTSE index will serve as the basis for term and cash contracts, which will be reduced to a tenth of its value.

The product will be negotiated under the XBTF Ticker and will be satisfied with the last working day of each month. It aims to provide merchants with greater control over their exposure to Bitcoin without obliging them to hold real assets. CBOE claims that the new FTSE Bitcoin Future index product completes its recently launched options linked to Bitcoin negotiated funds.

Together, these products are intended to give investors a wider set of tools for the coverage or creation of strategies related to cryptography. The global manager of CBOE derivatives, Catherine Clay, praised the launch as a useful addition to their Bitcoin product ecosystem. She stressed that he will provide merchants even more tools to navigate the digital asset ecosystem.

“This launch arrives at a pivotal moment, because the request for an exposure to cryptography continues to grow and that the market participants are looking for more and more more economical and versatile means to win and manage this exhibition.”

Catherine Clay, global manager of derivatives in CBOE

The index used for the new future product has been developed by FTSE Russell in partnership with Digital Asset Research. It is designed to follow the price of Bitcoin using strict standards for which the exchanges and data sources are included, helping to ensure that the index reflects the investable market.

This movement is aligned with CBOe’s growing commitment to digital asset products, including registration of Bitcoin and Ethereum spot (Ethn) ETF and recent launches of Bitcoin ETF index options in standard and mini sizes. CBOE saw a save-rupture March, recording its highest volume ever recorded with an average of 18.8 million options for negotiated options every day.

In addition, its S&P 500 contracts and its owner index options have reached a new average monthly daily volume record of 3.9 million contracts. CBOE also established a one -day SPX negotiation record of 4.8 million contracts on March 10.