The Cboe Futures Exchange (CFE) is set to make waves in the cryptocurrency market with the upcoming launch of its new Bitcoin and Ethereum Continuous Futures (PBT and PET). Scheduled for December 15, 2025, this innovative product represents a significant leap in regulated crypto derivatives trading.
What Are Continuous Futures?
Unlike traditional futures contracts, continuous futures offer a streamlined trading method with a 10-year expiration period and daily cash adjustments. This innovative design eliminates the need for investors to roll expiring contracts, simplifying long-term exposure for institutional and retail traders. This marks a milestone in making cryptocurrency investments more efficient and accessible.
According to Anne-Claire Maurice, Managing Director of Derived Data at Kaiko, “Bringing perpetual-style futures to U.S. regulated markets addresses a real need for institutional investors seeking efficient, long-term crypto exposure. These continuous futures eliminate the operational friction of rolling positions while maintaining the transparency and oversight that regulated markets provide.”
Why This Matters
The launch of PBT and PET futures caters to an increasing demand from investors for regulated, transparent, and intermediary-friendly trading options. In an environment where perpetual futures have predominantly existed offshore with limited oversight, Cboe’s move to introduce these products domestically is expected to have a transformative impact.
Rob Hocking, Global Head of Derivatives at Cboe, mirrors this sentiment, stating, “The structure of Cboe’s Continuous Futures is designed to enable streamlined and efficient portfolio and risk management, while providing investors a controlled way to gain some leveraged exposure to digital assets.”
Key Features of PBT and PET Futures
- Daily cash adjustment for simplified rollovers
- Available trading hours: 23×5 (Sunday 6 p.m. ET to Friday 5 p.m. ET)
- Regulated by U.S. markets, ensuring greater transparency
These contracts directly address issues faced by investors and traders in the crypto space while maintaining strict adherence to regulatory standards.
Educational Resources for Investors
To support the launch of these innovative products, Cboe will offer educational material through its renowned Options Institute. These materials will simplify the complexities of Continuous Futures, covering everything from fundamental concepts to trading strategies. Live courses are scheduled for December 17, 2025, and January 13, 2026, providing traders with actionable insights tailored for the crypto market.
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Conclusion
The launch of Bitcoin and Ethereum Continuous Futures by Cboe reflects the ongoing evolution of cryptocurrency markets, blending innovation with regulatory oversight. As these futures hit the market, they are poised to reshape the landscape of digital asset investments, making them more accessible and secure for institutional and retail investors alike.
