Cboe FTSE Bitcoin Index Futures

Sized at 0.1 BTC. Built for Precision

Cboe FTSE Bitcoin Index Futures (Ticker: XBTF) provide a powerful tool to gain exposure to bitcoin price movements, manage risk, and optimize capital efficiency—all within a regulated U.S. exchange environment. XBTF futures are cash-settled contracts on the FTSE Bitcoin Reduced Value (1/10th) Index.

Why Trade XBTF Futures?

Precise Exposure

Based on 1/10th the value of the FTSE Bitcoin Index, XBTF futures provide a smaller, more manageable contract size for tactical trading and positioning.

Capital Efficiency

XBTF futures settle in cash, eliminating the complexity of physical bitcoin delivery and streamline portfolio management.

Hedging Flexibility

XBTF futures may be utilized to mitigate volatility and adverse price movements from other bitcoin exposure, including in bitcoin and in bitcoin ETFs, bitcoin ETF options, and other bitcoin futures.

Regulated Marketplace

XBTF futures are offered for trading on Cboe Futures Exchange, LLC (CFE) and are cleared through The Options Clearing Corporation (OCC)—providing a trusted market and reducing counterparty risk.

Potential Uses for XBTF Futures

Institutional Asset Managers

Portfolio diversification with smaller bitcoin exposure

Strategic hedging relating to inflation

Client-directed allocations with minimal capital

Hedge Funds

Tactical trading with 0.1 BTC precision

Volatility arbitrage between bitcoin derivatives

Pairs trading with Bitcoin ETFs

Proprietary Trading Firms

Liquidity provision across Cboe bitcoin products

Trading strategies between different bitcoin futures contracts

Strategy execution with lower capital needs

Cboe Bitcoin Derivatives Suite

Cboe's Bitcoin derivatives provide a comprehensive toolkit of complementary products for diverse trading strategies. XBTF futures offer direct index exposure, while CBTX/MBTX options enable ETF-based strategies in different sizes. All products are cash-settled and OCC-cleared.

Product Comparison

Product	Cboe FTSE Bitcoin Index Futures	Cboe Bitcoin U.S. ETF Index Options	Cboe Mini Bitcoin U.S. ETF Index Options
Ticker	XBTF	CBTX	MBTX
Underlying	FTSE Bitcoin Reduced Value (1/10th) Index	U.S. Bitcoin ETF Index	Mini U.S. Bitcoin ETF Index
Size	0.1 BTC equivalent	1x Bitcoin ETF exposure	1/10th Bitcoin ETF exposure
Settlement	Cash-Settled
Trading	Cboe Futures Exchange, LLC (CFE)	Cboe Exchange, Inc. (Cboe Options)