CBOE Launches 10-Year BTC & ETH Perpetual Futures in U.S.
CBOE Global Markets will roll out 10-year cash-settled perpetual futures for Bitcoin (BTC) and Ethereum (ETH) to U.S. investors late in 2025. Initially set for November 10, the continuous futures series uses funding-rate adjustments to track spot prices and eliminate frequent rollovers. An updated launch on December 15 will clear through a government-regulated clearinghouse, boosting transparency and reducing counterparty risk. The onshore perpetual futures fill a gap in long-duration crypto derivatives, aiming to improve liquidity, cost efficiency and risk management under a fully regulated framework.
Bullish
The introduction of onshore, cash-settled 10-year perpetual futures for BTC and ETH by CBOE is likely bullish. In the short term, traders may bid up prices in anticipation of improved access and reduced rollover costs. Over the long term, the fully regulated structure and government-cleared mechanism enhance institutional confidence, boost liquidity and lower counterparty risk, all of which support sustained demand and price appreciation for Bitcoin and Ethereum.