Cryptocurrency futures

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Cryptocurrency futures are instruments, traded on unregulated cryptocurrency exchanges outside the United States, that resemble U.S. exchange-traded futures contracts. Like a futures contract, cryptocurrency futures provide for settlement on a date in the future from the trading date and are leveraged.

Cryptocurrency futures are not novated, cleared and guaranteed by derivatives clearing organizations (DCOs). Nor are cryptocurrency futures subject to regulatory oversight.

Two U.S. futures exchanges, the CME and the Cboe Futures Exchange, listed bitcoin futures for trading in November 2017. Their contracts are not meant to be included in the meaning of cryptocurrency futures because they are traded on futures (not cryptocurrency) exchanges in the United States and are cleared by DCOs.