Rob Hocking, Head of Global Derivatives at the Chicago Board Options Exchange (CBOE), stated that the exchange is exploring the possibility of converting its Bitcoin and Ethereum serial futures into perpetual futures. Serial futures are standardized contracts with consecutive expiration dates, while perpetual futures have no expiry and maintain price alignment through a funding rate mechanism. This exploration indicates CBOE's intent to expand its cryptocurrency derivatives offerings.
Earlier, the U.S. Commodity Futures Trading Commission (CFTC) had approved prediction market platform Kalshi to launch crypto perpetual futures. This precedent paved a regulatory avenue for similar products at other registered U.S. exchanges, enabling regulated perpetual futures contracts. Hocking did not provide a specific timeline for the potential conversion, noting that the process remains in an early exploratory phase.