Cboe and S&P Team Up on Tokenized Options Push
Cboe Global Markets and S&P Dow Jones Indices have extended their exclusive licensing agreement through 2051, giving them a long-term partnership to develop new products. This includes exploring tokenized options contracts, which would allow for on-chain trading of these complex financial instruments.
The move is significant as it pairs one of the largest and most established index franchises with blockchain technology. The S&P 500 Index, or SPX, has seen a record number of options trades in 2025, reaching 970.6 million contracts. Cboe shares rose more than 6% on the news.
The partnership dates back to 1983 and has been renewed for another 25 years. During this time, the companies may collaborate on new products beyond traditional index derivatives, including tokenized options contracts. The tokenization piece is still exploratory, but it marks a significant step towards mainstream adoption of blockchain technology in finance.