According to TechFlow news on November 22, as reported by PR Newswire, the Chicago Board Options Exchange (CBOE) will launch the world's first cash-settled index options product based on the spot Bitcoin price on December 2. This product will be exclusively listed for trading on the CBOE Options Exchange and will be regulated by the SEC.
The new product is based on the CBOE Bitcoin US ETF Index (code: CBTX), which is the first index in the market to track the performance of the US spot Bitcoin ETF. CBOE will simultaneously launch three types of contracts: standard index options, mini index options (code: MBTX, scaled to one-tenth of the standard contract), and FLEX options, the latter allowing traders to customize key contract terms.
CBOE Global Head of Product Innovation Rob Hocking stated that the cash settlement mechanism combined with diversified index scales and FLEX options will provide institutional and retail investors with more flexible trading strategy choices, allowing them to participate in the market without directly holding Bitcoin.
