CoinShares BTF ETF liquidation shifts options to cash settlement

Following the liquidation of the CoinShares Bitcoin and Ether ETF (BTF), the Options Clearing Corporation (OCC) has transitioned remaining options contracts to cash settlement. On October 22, the fund distributed $22.16255605 per share as liquidation proceeds.

As a result, the cash deliverable for each BTF options contract has been set at $2,216.26, representing 100 shares multiplied by the payout per share. While the BTF option symbol remains unchanged, the contracts now settle based on the difference between the strike amount and the cash deliverable rather than providing share-based exposure.

Additionally, the OCC announced that series previously scheduled to expire after November 20, 2026, have been advanced to expire on November 20, 2026. Contracts with earlier expiration dates remain unaffected. The BTF fund, which focused on Bitcoin and Ether futures, ceased share trading on October 20.