Cboe to Launch Bitcoin Spot Index Options

Cryptotimes2024/11/23 08:55

By:Jahnu Jagtap

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Cboe Global Markets is set to introduce the first cash-settled index options tracking the price of spot Bitcoin. The Cboe Bitcoin U.S. ETF Index (CBTX) will follow the performance of Bitcoin exchange-traded funds listed in the U.S. and is slated to launch on the Cboe Options Exchange on December 2nd.

NEWS: Cboe to Launch the First Cash-Settled Options Product Related to Spot Bitcoin, Beginning Monday, December 2

Read the press release: https://t.co/e3WkjBpQRg

🔹 The first cash-settled index #options related to the price of spot Bitcoin
🔹 Options are based on the new Cboe… pic.twitter.com/jduITZq8pQ
— Cboe (@CBOE) November 22, 2024

CBTX, a joint venture between Cboe Labs and Cboe Global Indices, according to press release will correlate Bitcoin’s price, providing investors with indirect exposure to the cryptocurrency through a basket of ETFs. The index options will be cash-settled, meaning there won’t be a physical delivery of ETFs.

Cboe will also offer mini options (MBTX) for CBTX, representing 1/10th of the notional value of standard options. Additionally, cash-settled FLEX options will be available for both CBTX and MBTX, allowing traders to customize contract terms.

Rob Hocking, Global Head of Product Innovation at Cboe, stated, “Our new suite of options on the Cboe Bitcoin U.S. ETF Index offers a timely and compelling solution for traders to efficiently gain exposure to spot Bitcoin.”

Cboe’s expansion into Bitcoin derivatives includes cash-settled Bitcoin and Ether margin futures on Cboe Digital Exchange, which are expected to transition to Cboe Futures Exchange in 2025. Additionally, Cboe’s BZX Equities Exchange is a leading venue for spot U.S. crypto ETFs.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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