The Chicago Board Options Exchange (Cboe) has announced the launch of a new Bitcoin futures derivative product.
According to an April 7 announcement, Cboe plans to launch the FTSE Bitcoin Index futures on April 28, which is based on the VanEck Bitcoin Strategy ETF (XBTF), if approved by regulators.
The new product will be cash-settled, and like XBTF, it will represent one-tenth of the value of the FTSE Bitcoin Index. The futures will settle on the last business day of each month.
This is the first product that was launched as a result of Cboe’s collaboration with the London Stock Exchange Group’s index subsidiary, FTSE Russell. The new Bitcoin derivative product is reportedly meant to complement its recently launched Bitcoin options offerings Bitcoin US ETF Index Options (CBTX) and Bitcoin US ETF Index Options