Chicago Board Options Exchange (CBOE) to Launch Bitcoin-Related Index Options Product

The Chicago Board Options Exchange (CBOE) today announced plans to launch the first cash-settled index options related to the spot price of bitcoin starting Monday, December 2, according to foreign media reports. These options will be exclusively listed and traded on the CBOE Options Exchange, regulated by the U.S. Securities and Exchange Commission, and based on the new CBOE Bitcoin U.S. Traded Open-End Index Fund (ETF) Index. Rob Hocking, Global Head of Product Innovation at Chips Ahoy, said, ‘Our new series of options based on the Chips Ahoy Bitcoin US ETF Index offers traders a timely and attractive solution for efficiently dipping their toes into Bitcoin spot. We anticipate that the unique benefits of cash settlement, coupled with the introduction of a variety of index-sized options and flexible options, will provide our clients with even more flexibility in their trading strategies. Our index options offer a unique value proposition that we believe will appeal to both institutional participants and retail traders looking to profit or hedge against bitcoin price volatility without holding the asset directly.’