CBOE's conversion of continuous Bitcoin and Ether futures to perpetuals could position the exchange to capture expanding crypto derivatives market share if executed with competitive execution quality

"From an exchange strategy perspective, the appeal is straightforward: perps have become the primary derivatives format for many crypto-native liquidity providers. If CBOE can offer perpetual contracts in a compliant way, it could position itself inside a market segment that is expanding rapidly in both trading venues and product variety."