CBOE weighs converting BTC, ETH continuous futures into perpetual futures: Report
CBOE is exploring turning its continuous Bitcoin and Ether futures into perpetual futures to compete in a fast-growing crypto derivatives market. The move follows recent CFTC guidance that opened a regulatory path for U.S. exchanges to list perpetual products, after Kalshi launched crypto perps and saw rapid volume growth. CBOE’s continuous BTC and ETH futures were launched last December with expirations up to 10 years, but perpetuals would remove expiration dates and use funding payments to keep prices aligned with spot markets. Demand for perpetual futures is rising across both centralized and decentralized venues. Coinbase has also entered the market with perpetuals tied to stock indexes, while DeFi platforms continue to process massive perp volume. The CFTC’s decision has drawn pushback from incumbents, with CME suing the regulator over Kalshi’s listing and arguing it creates unfair competition.
