Core Insights - Cboe Global Markets is set to launch Cboe Bitcoin Continuous Futures (PBT) and Cboe Ether Continuous Futures (PET) on December 15, 2025, pending regulatory review [1] - The Continuous Futures aim to provide long-term exposure to bitcoin and ether, featuring a 10-year expiration at listing and daily cash adjustments to create perpetual-style exposure [1] - The introduction of these futures is designed to enhance portfolio and risk management for investors while offering leveraged exposure to digital assets [1] Product Features - Continuous Futures will offer benefits similar to traditional futures, including capital efficiency, volatility management, tactical trading, and the ability to enter short positions [1] - The PBT and PET futures will utilize the Cboe Kaiko Real-Time Rate to track the underlying digital assets, with a daily Funding Amount applied to open positions for price alignment [1] - These futures will be cash-settled and centrally cleared through Cboe Clear U.S., which helps mitigate counterparty risk [1] Market Demand and Education - The structure of Continuous Futures addresses the needs of institutional investors seeking efficient, long-term crypto exposure while eliminating the operational friction of rolling positions [1] - Cboe is focused on expanding educational efforts to help market participants understand the utility of these new futures, with courses scheduled for December 17, 2025, and January 13, 2026 [1] - Trading for PBT and PET futures will be available on a 23×5 basis, from Sunday to Friday, 6 p.m. ET to 5 p.m. ET [1] Company Overview - Cboe Global Markets provides trading, clearing, and investment solutions across various asset classes, including equities, derivatives, and FX, in North America, Europe, and Asia Pacific [2]