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Cboe Global Markets has completed the migration of its digital asset futures, specifically the Financially Settled Bitcoin (FBT) and Financially Settled Ether (FET) contracts, from Cboe Digital Exchange to the Cboe Futures Exchange (CFE) as of 9 June 2025. This move consolidates all of Cboe’s US futures products onto a single exchange, streamlining access for clients and leveraging a unified technology platform.
The transition brings FBT and FET futures, which are cash-settled and based on the Cboe Kaiko Rate Index, into CFE’s suite alongside existing products such as the Cboe FTSE Bitcoin Index Futures. The FBT and FET contracts, initially launched on Cboe Digital Exchange in January 2024, will now be available to trade nearly 24 hours a day, Monday through Friday, providing extended trading hours for market participants looking to manage bitcoin and ether exposure.
Cboe’s move is expected to deliver greater operational efficiency and product choice for customers. The company notes that the migration also positions it to expand its global clearing capabilities, with FBT and FET futures now centrally cleared through Cboe Clear U.S., a CFTC-regulated derivatives clearing organisation. This establishes a direct clearing relationship between CFE and Cboe Clear U.S., while all other US futures listed on CFE will continue to clear through OCC.
Catherine Clay, Global Head of Derivatives at Cboe, said:
“We are excited to successfully migrate bitcoin and ether futures trading onto CFE, powered by our world-class technology – a platform that our customers know and trust. Accessibility is crucial when creating a healthy futures trading ecosystem, and by moving FBT and FET futures to CFE, we expect to open the door for potentially greater customer access and liquidity in these products. CFE established volatility as a tradable asset class, and Cboe continues to build on this legacy by growing our exchange-traded futures ecosystem. Significantly, with the addition of ether futures, our customers can now trade a more diverse range of products on one platform.”
Catherine Clay, Global Head of Derivatives at Cboe
Trading on CFE is underpinned by Cboe Titanium, the company’s unified technology platform that powers its global equities, options, and futures markets. The platform uses common protocols and features across all markets, designed to offer clients an efficient and seamless trading experience regardless of location. It also allows for local optimization and innovation for specific asset classes, including digital asset futures.
Chris Isaacson, Chief Operating Officer at Cboe, commented:
“By migrating the bitcoin and ether futures to CFE, powered by Cboe Titanium technology, customers will be able to leverage the state-of-the-art platform that powers Cboe’s trading across the globe. Cboe Titanium provides immense value to the regulated crypto market as it is built to be resilient, power nearly 24-hour trading and seamlessly handle bouts of volatility. With all of Cboe’s equities and derivatives markets successfully migrated onto one common technology platform, we will look to build on our customer-first approach and strive toward expanding market access and innovation, while growing our global clearing capabilities.”
Chris Isaacson, Chief Operating Officer at Cboe
Contract specifications and trading symbols for FBT and FET futures remain materially unchanged following the transfer to CFE.
