Cboe Digital Launches Margined Bitcoin and Ether Futures with First Successful Trade

January 12, 2024 - Cboe Digital has launched margined Bitcoin and Ether futures, with the successful completion of its first margined Bitcoin futures trade. This launch, supported by industry leaders including Blockfills, DV Trading LLC, Jump Trading Group, Marex, Toa Capital Partners, and Wedbush, marks Cboe Digital as the first U.S. regulated crypto-native exchange and clearinghouse offering both spot and leveraged derivatives trading on a single platform.

John Palmer, President of Cboe Digital, expressed the significance of this development, “As an exchange and clearinghouse, this is a significant milestone for Cboe Digital and its vision to unify the crypto spot and futures market. The future of crypto is at an exciting juncture and as more investors look to participate in this asset class, we expect to see greater demand for derivatives to help manage their crypto exposures, hedge risk and enhance capital and operational efficiencies. We are grateful for the hard work from our intermediaries, partners and team members that got us here and look forward to continuing working with them to help drive the market's growth."

Thomas Texier, Head of Clearing at Marex, highlighted the value of regulated markets, “We believe transparent and U.S. regulated markets drive customer demand for these products and Marex was keen to support its customers from the outset. Cboe Digital's margin futures launch will help bring competitive technology and innovative solutions to the crypto spot and leveraged derivatives markets.”

Jake Moore of Toa Capital Group noted the significance of secure market access, “As a market maker with industry leading risk controls, we are pleased to be working with a high-quality exchange such as Cboe Digital whose focus is to enable broader institutional participation and adoption of cryptocurrencies. Cboe Digital's offer in providing secure access to regulated futures markets is key to maturing this nascent asset class.”

Bob Fitzsimmons at Wedbush Securities also acknowledged Cboe Digital's role: "Cboe Digital has been influential in helping facilitate the creation of a transparent well-regulated crypto spot and derivatives market. We look forward to continued collaboration in this market and congratulate Cboe Digital on this exciting next step."

Following its launch of financially settled margined contracts on Bitcoin and Ether, Cboe Digital plans to broaden its product offerings to include physically delivered products, subject to regulatory approval. Its unified spot and derivatives trading platform aims to provide seamless access to both markets. This integrated exchange and clearinghouse model positions Cboe Digital to potentially introduce more innovative offerings to the crypto markets.

For additional information on the new margined Bitcoin and Ether futures, please visit Cboe Digital's website here.