Cboe Global Markets Announces Bitcoin Index Options Launch

Cboe Global Markets has announced that it will launch SEC-regulated, cash-settled index options tied to Bitcoin on December 2. These options, based on the new Cboe Bitcoin US ETF Index (CBTX), will allow investors to speculate on Bitcoin's price without owning the cryptocurrency.

Cash-Settled Index Options will enable market participants to gain exposure to spot Bitcoin ETFs – and indirectly to Bitcoin itself – allowing them to capitalize on price movements, manage risk, and express their market views. These index options will be cash-settled, meaning positions are closed in cash at expiration, removing the complexities of physically delivering Bitcoin ETFs. In addition to cash settlement, these index options will offer European-style exercise, meaning they are exercisable only on the expiration date, eliminating the risks of early assignment.