XBT-Cboe Bitcoin Futures

Cboe XBT Bitcoin Futures Trading Data

Symbol Expiration Last Change High Low Settlement Volume
^GXBT - 4020.77 29.16 4022.76 3965.82 - -
XBTJ19 04/17/2019 4035.00 45.00 4045.00 4025.00 4017.5000 26

The First U.S. Bitcoin Futures

Bitcoin futures are now available for trading on the Cboe Futures Exchange, LLC (CFE). CFE launched trading in Cboe bitcoin futures on December 10 under the ticker symbol "XBT" (contract specifications | fact sheet.) This brings many benefits to traders, including transparency, efficient price discovery, deep liquidity and centralized clearing. XBTSM futures provides a centralized marketplace for participants to trade based on their view of bitcoin prices, gain exposure to bitcoin prices or hedge their existing bitcoin positions.

XBT futures are cash-settled contracts based on the Gemini's auction price for bitcoin, denominated in U.S. dollars. Gemini Trust Company, LLC (Gemini) is a digital asset exchange and custodian founded in 2014 that allows customers to buy, sell, and store digital assets such as bitcoin, and is subject to fiduciary obligations, capital reserve requirements, and banking compliance standards of the New York State Department of Financial Services.

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Watch our interview with Cameron and Tyler Winklevoss, founders of Gemini, at the 2017 Cboe Risk Management Conference Asia

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What Do Bitcoin Futures Do?

Trade Based on Your Outlook or Hedge Your Bitcoin Risk

XBT futures provides a way for you to buy and sell bitcoin futures in a highly regulated marketplace nearly 24 hours a day, five days per week. This gives you the flexibility to invest and divest at the optimal time for your specific trading strategy.

Get Exposure to Bitcoin Price Moves without Holding Bitcoins

XBT futures provides investors with the opportunity to buy, sell and trade bitcoin futures or implement your trading strategies without having to pay for the actual currency.

Download our free Beginner's Guide to Bitcoin Futures
Learn how Gemini runs a bitcoin exchange. Click here to download the free Gemini Bitcoin Presentation
Learn more about Bitcoin and XBT Futures

Why Trade XBT Futures

Settle to a Single Auction Price

XBT futures is a cash-settled contract that settles to a single, tradeable auction price. In designing XBT futures, Cboe leveraged its significant product development expertise to design an instrument that allows participants to implement trading strategies in a manner to which they are accustomed. The single price settlement process gives participants the option of using XBT futures to hedge their exposure in underlying bitcoin or gain exposure to traded bitcoin prices without holding bitcoin.

Where Can I Trade XBT Futures?

Bitcoin futures based on the Gemini auction prices are traded exclusively at Cboe Futures Exchange. The brokers below are confirmed to offer trading in XBT futures. Contact your brokerage firm to find out how to trade XBT futures at Cboe Futures Exchange.

Disclaimer: Unlike security options, CFE futures contracts (other than security futures) cannot be held in a securities account and are required to be held in a futures account. CFE security futures contracts may be held in either a futures account or a securities account. In order to assist those customers that wish to consider a Futures Commission Merchant (FCM), Introducing Broker (IB), or clearing firm in order to trade CFE futures contracts, we have assembled the above list of FCMs, IBs, and clearing firms offering CFE futures products.

It is not an endorsement of the firms listed, and no significance should be attached to a firm's inclusion or omission. CFE has not investigated the background or disciplinary history of any of the firms listed or of any individual broker in connection with providing this list. The selection of an FCM, broker, or clearing firm involves matters of personal preference. In choosing a firm, an investor should ask questions and take into account such factors as the investor individually regards as important.

This list may not be exhaustive since the list only includes those firms that have requested to be included on the list. Any CFE Trading Privilege Holder, OCC Clearing Member, or OCC Clearing Member affiliate that is an FCM, IB, or Clearing Member and that would like to be included in this list should contact Jay Caauwe at caauwe@cboe.com.

What potential risks are involved in trading XBT Futures?

Like any futures contract, trading in XBT futures is not suitable for all investors and involves the risk of loss. The risk of loss in XBT futures can be substantial. Market participants should, therefore, carefully consider whether such trading is suitable in light of their own circumstances and financial resources. For additional information regarding futures trading risks, see the Risk Disclosure Statement set forth in CFTC Regulation 1.55(b).

For additional information regarding trading risks associated with trading virtual currencies and bitcoin futures and options, please refer to:

CFTC Customer Advisory: Understand the Risk of Virtual Currency Trading
NFA Investor Advisory – Futures on Virtual Currencies Including Bitcoin

Ask Us About XBT Futures