tl;dr
Cboe Global Markets is introducing 10-year Continuous futures for Bitcoin and Ethereum, set to launch on November 10, 2025, pending regulatory approval. These contracts combine the benefits of perpetual and traditional futures, offering a 10-year maturity with daily cash settlements tied to spot p...
**Cboe’s New 10-Year Bitcoin and Ether Futures: A Game-Changer for Long-Term Traders?**
Imagine holding a crypto position for a decade without worrying about rolling over contracts every few months. That’s the promise of Cboe Global Markets’ upcoming **10-year “Continuous futures”** for Bitcoin and Ethereum, set to debut on November 10, 2025, pending regulatory approval. This move could reshape how institutional and retail investors approach crypto trading in the U.S.
### What Are Continuous Futures, and Why Do They Matter?
Traditional futures contracts expire after a set period—often months—forcing traders to roll them over to maintain exposure. This process is time-consuming, costly, and risky, especially in volatile markets like crypto. Enter **Continuous futures**, which blend the best of perpetual and traditional futures.
These contracts have a **10-year maturity** but use **daily cash settlements** tied to spot prices. Think of them as a bridge between perpetual futures (common on offshore platforms) and regulated, time-bound contracts. Unlike perpetuals, which lack a defined end date, Cboe’s version offers a clear timeline, reducing uncertainty for long-term holders. Traders can lock in positions for years without the hassle of frequent rollovers, a feature that could attract both seasoned investors and newcomers.
### A Regulated Alternative to Offshore Perpetuals
Perpetual futures have gained traction on platforms like Binance and Bybit, but they’re often criticized for their lack of central clearing and higher volatility. Cboe’s offering, however, clears through **Cboe Clear U.S.**, a subsidiary overseen by the **Commodity Futures Trading Commission (CFTC)**. This ensures transparency, reduces counterparty risk, and aligns with U.S. regulatory standards—a critical selling point for institutional players wary of offshore risks.
The daily funding mechanism, which adjusts positions based on spot price movements, also simplifies operations. Instead of dealing with expiring contracts, traders can focus on their long-term strategies, knowing their positions are automatically adjusted to reflect market realities.
### Bridging the Gap Between Retail and Institutional Investors
For retail traders, the ease of maintaining long-term positions without rollover costs could lower barriers to entry. For institutions, the regulated framework and centralized clearing make these contracts a safer, more scalable option. The U.S. market, which has seen a surge in institutional crypto interest, now has a product that balances innovation with compliance.
Cboe’s **Options Institute** is even hosting educational sessions on October 30 and November 20 to demystify the contracts, covering everything from trading mechanics to clearing procedures. This effort underscores the exchange’s commitment to making crypto derivatives accessible to a broader audience.
### The Bigger Picture: A Sign of Maturing Markets
This launch marks a milestone in the evolution of crypto trading. By introducing the longest-dated regulated futures in the U.S., Cboe is signaling that crypto is no longer a niche asset class but a serious contender for institutional portfolios. The move also reflects a broader trend: as crypto adoption grows, so does the demand for products that balance flexibility, security, and regulatory oversight.
So, what does this mean for you? If you’re a trader who’s ever felt the pain of frequent rollovers or the risks of offshore platforms, Cboe’s Continuous futures might just be the solution you’ve been waiting for. The question is—will you be among the first to take advantage?