Yigit Taha OZTURK 
Cboe Global Markets has announced the launch of its new Cboe FTSE Bitcoin Index Futures (XBTF), adding to its growing lineup of digital asset derivatives. The product is based on the FTSE Bitcoin Reduced Value Index, which represents 1/10th the value of Bitcoin (BTC).
XBTF contracts are cash-settled and settle in the afternoon on the last business day of each month, eliminating the complexities of physical Bitcoin delivery and offering flexible access to BTC exposure. The product is exclusively listed on Cboe Futures Exchange, LLC (CFE).
A Tool for Risk Management and Exposure
Catherine Clay, Global Head of Derivatives at Cboe, emphasized that XBTF provides market participants with a new tool for managing BTC risk or gaining price exposure in a regulated, centralized clearing environment.
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The new XBTF futures complement previously launched cash-settled options on the Cboe Bitcoin U.S. ETF Index, namely CBTX and MBTX. Each product is designed to manage BTC volatility on its own, while together they offer the flexibility for more advanced strategies.
Like other Bitcoin derivatives, XBTF futures are cleared through the OCC, enhancing transparency and market trust.
Institutional Demand Strengthens
Institutional participants are showing growing interest. Barak Capital, a long-time liquidity provider for Cboe markets, confirmed its intent to support XBTF trading actively.
Similarly, Tom Chlada, COO at Prime Trading LLC, shared enthusiasm for the product, noting the firm’s alignment with Cboe’s efforts to deliver a “best-in-class trading experience” to crypto investors.
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