Cboe to Launch Bitcoin Spot Index Options

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.

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.