Core Viewpoint - Cboe Global Markets is set to launch the Cboe IBIT Volatility Index (BITVX) on March 23, 2026, which will measure the 30-day forward-looking volatility of the bitcoin market based on options from the iShares Bitcoin Trust ETF (IBIT) [1] Group 1: Product Launch - The BITVX index will expand Cboe's volatility index suite and apply its proprietary VIX® methodology to the bitcoin market [1] - BITVX is designed to reflect market expectations of near-term volatility derived from IBIT options activity [1] - The index will be calculated using weekly Friday expirations of IBIT options, focusing on two maturities that bracket a constant 30-day target horizon [1] Group 2: Market Context - The new index aims to provide a transparent, rules-based benchmark for expected volatility in digital assets, enhancing the ecosystem for investors [1] - Bitcoin ETF options are increasingly popular among investors for managing bitcoin exposure, indicating a growing interest in digital asset derivatives [1] Group 3: Methodology - BITVX will utilize a model-free measure of implied volatility, aggregating information across a broad range of out-of-the-money option strikes [1] - The methodology is consistent with the established VIX Index framework, which is recognized as a leading gauge of market volatility for the U.S. equity market [1]