Cboe Extends Exclusive S&P 500 Options Licence to 2051, Names Tokenized Contracts
Cboe Global Markets and S&P Dow Jones Indices extended their exclusive S&P 500 index options licence through 2051 and said they may collaborate on tokenized options contracts.
Why it matters
The licence gives Cboe certainty on its most heavily traded index options product for another quarter-century, with revised royalty terms taking effect in 2027. Any tokenized S&P 500 options contract remains a possibility under the agreement rather than an announced product, and CoinDesk linked the timing to broader moves by Nasdaq, NYSE, DTCC and others to put traditional securities on blockchain rails.
Where the sources disagree
Volume growth figure
4.63 million contracts per day in August 2026
Crypto News Flash
3.9 million contracts average daily volume in 2025
CoinGape, Crypto News (CryptoNews.net), Crypto News Flash, Crypto.News, Unchained
CoinGape described 970.6 million contracts in 2025 as up 25% from the previous year, while Crypto.News described the average daily volume of 3.9 million contracts as up 25% from 2024.
Date the extension was announced
September 29, 2026
CoinGape, Crypto News (CryptoNews.net), CoinDesk, Crypto.News, Decrypt, Crypto News (CryptoNews.net)
Tuesday
Unchained
Most outlets reported the announcement as made on September 29, 2026, while Unchained described it as announced on Tuesday.
Key facts
Cboe Global Markets and S&P Dow Jones Indices extended their exclusive S&P 500 options licensing agreement through 2051, a 25-year extension.
25 yearsReported by CoinGape
The two companies said they may collaborate on products beyond traditional index derivatives, including tokenized options contracts.
Reported by CoinGape
The announcement identified no tokenized product, launch date, trading venue, settlement design or regulatory filing.
Reported by Crypto.News
The Cboe and S&P DJI partnership began in 1983 when SPX options first traded.
1,983Reported by CoinGape
Cboe CEO Craig Donohue said the agreement gives the company certainty and continuity around its SPX and VIX franchises and runway to pursue new innovation.
Reported by CoinGape
Royalty terms remain unchanged during 2026, with revised terms beginning in 2027, which Crypto.News said Cboe expects to have minimal effect on net revenue growth.
Disputed figureReported by CoinGape
CoinGape reported Cboe shares rose 6.6% in premarket trading after the announcement, and Decrypt reported the shares rose more than 6%.
6.6 %Reported by CoinGape
CoinDesk reported the extension came as Nasdaq, NYSE and DTCC move traditional markets onchain.
Reported by CoinDesk
What happened
Cboe Global Markets and S&P Dow Jones Indices announced on September 29 a 25-year extension of their exclusive licensing agreement, keeping Cboe's rights to list and trade S&P 500 Index options, known as SPX options, through 2051. The arrangement dates to 1983, when SPX options began trading, and Unchained reported that the firms previously extended Cboe's exclusive rights on options tied to certain S&P DJI indexes through 2032 in 2013. Alongside the extension, the two companies said they may collaborate on products beyond traditional index derivatives, naming tokenized options contracts as one example. Crypto.News reported the announcement identified no filing, trading venue, settlement design or launch date, and Decrypt described the tokenization reference as exploratory rather than a launch, with any tokenized contract a separate product from the SPX options trading today. On the existing franchise, CoinGape and Unchained reported SPX options reached 970.6 million contracts in 2025 at an average of 3.9 million contracts a day, up 25% from 2024 and a fourth consecutive record year, while Crypto News Flash gave a separate daily figure of 4.63 million contracts for August 2026. Cboe shares rose more than 6% after the announcement, CoinGape reporting a 6.6% premarket gain. Royalty terms stay unchanged through 2026 and revised terms start in 2027, which Crypto.News said Cboe expects to have minimal effect on net revenue growth.
How the story developed
- First report
First report by CoinGape
BREAKING: Cboe Extends S&P 500 Options Deal to 2051, Explores Tokenized Contracts
- Update
Cboe and S&P Dow Jones Indices announce 25-year licence extension
The exclusive S&P 500 index options licensing agreement runs through 2051 and names tokenized options contracts as a possible area of collaboration.
- Independent corroboration
Independently corroborated by Crypto News Flash
Cboe Secures SPX Monopoly to 2051 as Tokenization Enters
- Update
CoinDesk frames tokenization line against moves by Nasdaq, NYSE and DTCC
CoinDesk reported the tokenized options reference as another sign blockchain products are moving closer to traditional derivatives, alongside institutional moves to put securities on blockchain rails.
- Update
Unchained reports details of the 2013 prior extension and record volumes
Unchained reported that in 2013 the firms extended Cboe's exclusive rights on options tied to certain S&P DJI indexes through 2032, and gave the 2025 volume and record figures.
How coverage built up
Independent sources over time, counted the way the consensus panel counts them: a republication of a wire story does not move the line.
- 29 Sept 2026, 15:05 UTC: CoinGape — 1 independent source, 1 reports
- 29 Sept 2026, 16:00 UTC: Crypto News Flash — 2 independent sources, 2 reports
- 29 Sept 2026, 17:59 UTC: Crypto News (CryptoNews.net) — 3 independent sources, 3 reports
- 29 Sept 2026, 18:21 UTC: CoinDesk — 4 independent sources, 4 reports
- 29 Sept 2026, 18:38 UTC: Crypto.News — 5 independent sources, 5 reports
- 29 Sept 2026, 21:16 UTC: Decrypt — 6 independent sources, 6 reports
- 30 Sept 2026, 10:33 UTC: Unchained — 7 independent sources, 9 reports
Affected entities
Also mentioned: Goldman Sachs, JPMorgan, Hyperliquid, Binance, Kraken, Base, International Monetary Fund
Original sources
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