CBOE to launch Bitcoin-related index options product

The Chicago Board Options Exchange (CBOE) announced today that it plans to launch the first cash-settled index options related to the spot price of Bitcoin starting on Monday, December 2. 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. Dollar Index (XBT). Rob Hocking, CBOE's Global Head of Product Innovation, stated: "Our new suite of Bitcoin-based options, which are based on the CBOE Bitcoin U.S. Dollar Index, provides traders with a valuable tool to gain exposure to the Bitcoin market in a regulated and efficient manner. We expect the unique benefits of cash settlement, as well as the ability to trade a wide range of index-sized options and flexible contract types, will provide users with greater flexibility in trading strategies. Our index options provide a unique value proposition, and we believe they will be attractive to both institutional participants and retail traders who want to gain exposure to Bitcoin price movements without holding the underlying asset directly."