Cboe Global Markets is preparing to introduce Bitcoin Continuous Futures (PBT) to its Futures Exchange on December 15, pending final regulatory sign-off. This innovative product represents a significant evolution in cryptocurrency derivatives trading, offering investors a streamlined approach to maintaining Bitcoin futures exposure without the complexity of manual contract rollovers.
Cboe Global Markets, one of the world's leading exchange operators, has announced plans to launch Bitcoin Continuous Futures (ticker: PBT) on December 15, 2025, through its Cboe Futures Exchange (CFE), subject to regulatory approval. This development marks a notable expansion of institutional-grade Bitcoin derivatives products available to traders and investors.
The introduction of continuous futures represents a significant advancement in cryptocurrency derivatives trading infrastructure. Unlike traditional futures contracts that require traders to manually roll their positions from one expiration date to another, continuous futures provide a seamless, perpetual exposure to Bitcoin price movements. This structure eliminates the operational burden and potential slippage costs associated with contract rollovers, making it particularly attractive for institutional investors and fund managers seeking sustained Bitcoin exposure.
Cboe's move into continuous Bitcoin futures comes at a time when institutional adoption of cryptocurrency products continues to accelerate. The exchange has been a pioneer in regulated crypto derivatives, having launched one of the first Bitcoin futures products back in 2017. This latest offering demonstrates Cboe's commitment to evolving its cryptocurrency product suite to meet sophisticated investor demand.
The timing of this launch is particularly strategic, as the cryptocurrency market experiences renewed institutional interest following the approval of spot Bitcoin ETFs earlier this year. Continuous futures products provide portfolio managers with an efficient tool for gaining Bitcoin exposure without the complexities of holding the underlying asset or managing expiring contracts.
For the broader cryptocurrency ecosystem, Cboe's continuous futures launch represents another step toward market maturation. As traditional financial infrastructure increasingly accommodates digital assets, the gap between conventional and crypto markets continues to narrow. This integration brings enhanced liquidity, price discovery, and legitimacy to Bitcoin trading.
The December 15 launch date, pending regulatory approval from the Commodity Futures Trading Commission (CFTC), positions Cboe to capture year-end positioning flows as institutional investors finalize their 2025 strategies. Market participants will be watching closely to see how trading volumes develop and whether this product attracts meaningful institutional participation, potentially setting the stage for similar offerings from competing exchanges in 2026.