Cboe Global Markets has announced plans to launch “continuous futures” contracts for Bitcoin, bringing a popular decentralized finance trading product to US markets.
The new offering, expected to begin on November 10 pending regulatory review, will allow traders to access single, long-dated contracts with a 10-year expiration, significantly reducing the need to roll over positions and simplifying position management.
Key features of the new futures
Unlike traditional futures, which require regular rolling at expiry, Cboe’s continuous futures for Bitcoin will function similarly to perpetual contracts, which are widely used on offshore and DeFi platforms.
These contracts will be cash-settled and aligned to the spot price of Bitcoin using transparent funding mechanisms.
Catherine Clay, global head of derivatives at Cboe, explained:
“Perpetual-style futures have gained strong adoption in offshore markets. Now, Cboe is bringing that same utility to our US-regulated futures exchange.”
Market context and adoption
Currently, perpetual contracts account for 68% of all Bitcoin trading volume, according to Kaiko research.
The open interest in crypto perpetuals has reached $876 billion, highlighting the strong demand for these products in the market.
Expansion of bitcoin derivatives in the US
This move marks Cboe’s return to expanding its bitcoin derivatives offerings since it first launched Bitcoin futures in 2017.
While US regulators had previously blocked such products, regulatory attitudes have shifted, opening the door for new derivatives on regulated exchanges.
Other exchanges, such as Bitnomial and Coinbase, have also begun offering perpetual bitcoin futures to US traders in 2025.
The introduction of these products by major regulated venues signals growing institutional acceptance of bitcoin derivatives.
