Traders will soon have another option for trading option contracts linked to the price of bitcoin.

Cboe Global Markets announced on Friday that it’s planning to launch the first cash-settled index options tied to the pioneering cryptocurrency shortly after the Thanksgiving holiday. The new contracts are expected to begin trading on Dec. 2, according to a press release.

The contracts won’t track the price of bitcoin directly. Instead, they will be based on the Cboe Bitcoin U.S. ETF Index. The index was designed by Cboe to track the prices of several spot bitcoin exchange-traded funds on a modified market-cap-weighted basis. The gauge should be closely correlated with the actual spot price of bitcoin, however.

Cboe Global Markets, Inc., established in 1973, is a leading American company specializing in market infrastructure and tradable products. It operates several exchanges, including the Chicago Board Options Exchange (CBOE) and BATS Global Markets.

Cboe offers a diverse range of financial products and services:

Options and Futures: Provides trading platforms for various options and futures contracts.

Equities: Operates stock exchanges facilitating equity trading.

Foreign Exchange (FX): Offers platforms for currency trading.

Digital Assets: Engages in the cryptocurrency market, including plans to launch cash-settled Bitcoin options.