Which venue launched continuous crypto futures?

TLDR

Cboe Futures Exchange (CFE) launched continuous crypto futures for Bitcoin and Ether, introducing perpetual?style exposure on a U.S. regulated venue per a recent report from CoinDesk.

1. Products are Bitcoin Continuous Futures (PBT) and Ether Continuous Futures (PET), cash?settled with daily adjustments.
2. Designed to mimic perpetuals using a 10?year term and daily funding to track spot.
3. Cleared through Cboe Clear US with a near 24x5 trading schedule.

Deep Dive

1. What Launched

Cboe Futures Exchange introduced continuous futures for Bitcoin and Ether that behave like perpetuals but within U.S. derivatives rules.

1. Contracts list with a 10?year term, cash settlement, and a daily funding adjustment that aligns with spot prices, per a CoinDesk report.
2. The products trade nearly 24x5 and are designed for long?term exposure without rolling. The structure is detailed in coverage from The Block.

2. Why It Matters

This fills a long?standing gap for regulated, perp?style crypto exposure in the U.S.

1. Clearing is via Cboe Clear US, with margin requirements aligned to CFTC standards, per Yahoo Finances summary.
2. The design targets institutional and sophisticated retail traders that want leverage and shorting in a regulated environment, as noted by CoinDesk.

3. Global Context

Other major venues are also moving toward perpetual?style products.

1. Singapore Exchange Derivatives announced Bitcoin and Ether perpetual futures for institutions, highlighting regional growth in regulated perps, per Reuters via Yahoo.
2. That parallel development underscores a broader trend toward on?exchange, regulated alternatives to offshore perpetuals, as also reflected in The Blocks coverage.

Conclusion

Cboe Futures Exchange brought perpetual?style crypto exposure into a U.S. regulated setting with its continuous futures, aiming to combine the convenience of perps with clearing, margin, and oversight. Globally, similar launches, like SGXs institutional perps, suggest regulated perp?like products are becoming a standard option alongside offshore markets.