Cboe Global Markets, Inc. has announced a series of initiatives that emphasize its commitment to growth within the global financial landscape. Among its plans are the launch of continuous futures for Bitcoin and Ether, robust trading volume reports, new leadership appointments, and the milestone of surpassing 1,000 U.S.-listed ETFs. These developments highlight Cboe’s strategic vision to cater to a diverse range of market participants while ensuring a trusted and regulated environment.
On September 9, 2025, Cboe revealed its intent to introduce Cboe Continuous Futures for Bitcoin and Ether on its Cboe Futures Exchange (CFE), with trading anticipated to begin on November 10, 2025, pending regulatory approval. The unique structure of these continuous futures differs from traditional contracts that often require periodic rollovers due to monthly or quarterly expirations. The new futures will function as long-dated contracts with a 10-year expiration, allowing traders to avoid the hassle of frequent rollovers and manage their positions more efficiently.
These contracts are cash-settled and designed to align with real-time spot prices via daily cash adjustments, providing U.S. traders with streamlined, long-term exposure to digital assets within a regulated framework. Catherine Clay, Cboe’s Global Head of Derivatives, has emphasized the promising adoption of these “perpetual-style” futures in offshore markets, suggesting potential interest from both institutional and retail traders domestically. To further enhance investor understanding, educational sessions about these futures are scheduled for October 30 and November 20, 2025, through Cboe’s Options Institute.
In addition to the announcement regarding futures, Cboe reported substantial growth in its August 2025 trading volume, demonstrating a solid performance across various market segments. The exchange noted a 9.6% year-over-year increase in multiply-listed options, alongside an 8.0% rise in index options. Particularly noteworthy was the record-breaking performance in zero-days-to-expiry (0DTE) trading for S&P 500 Index (SPX) and Mini-SPX Index (XSP) options. On the equities front, U.S. trading volumes experienced impressive growth, with on-exchange volume rising by 39.9% and off-exchange volume increasing by 84.8% compared to the previous year. European equities also saw record market shares, achieving 26.6% for overall trading and 34.7% for continuous trading, while global FX trading volume climbed by 17.8%, reaching $51 billion.
In a strategic move to bolster its leadership team, Cboe appointed Prashant Bhatia as Executive Vice President, Head of Enterprise Strategy & Corporate Development. Bhatia brings over a decade of financial services experience, having previously led strategy at TD Ameritrade. In his new role, he will collaborate with Cboe’s executive team to identify growth opportunities and enhance the firm’s market positioning, particularly in emerging areas such as digital assets and innovative financial products.
Additionally, Cboe achieved a significant milestone by surpassing 1,000 U.S.-listed ETFs on its Cboe BZX Exchange, becoming only the second venue to reach this landmark. This achievement reflects a 70% growth in ETF listings since early 2023, showcasing the rising demand for actively managed ETFs and innovative investment products. Cboe’s role as a listing venue is increasingly pivotal as it caters to issuers aiming to meet the growing investor demand for a diversified array of financial instruments.
Collectively, these initiatives signal Cboe’s strategy to embrace technological advancements, expand its operational scope, and solidify its presence in the global financial markets. By introducing regulated crypto derivatives, showcasing robust trading volumes, nurturing seasoned leadership, and facilitating the growth of ETFs, Cboe aims to adapt to prevailing market trends while positively influencing the digital finance ecosystem. As it continues to implement its product development roadmap, the company remains dedicated to fostering an inclusive marketplace for both institutional and retail investors.
