With the new offering, traders can bypass complexities involved in setting up options strategies and directly buy and sell volatility similar to trading futures tied to bitcoin’s price. The product may attract more institutional and retail investor participation, much like the Chicago Board Options Exchange’s (Cboe) VIX futures – derivatives on The Cboe Volatility Index, or VIX. The index represents the market’s expectation for volatility in the S&P 500 over the coming 30 days.