The cryptocurrency derivatives market is dynamic, with continuous adjustments made to ensure liquidity, user experience, and long-term sustainability. As part of our commitment to maintaining high trading standards, certain contracts are periodically reviewed for delisting or early settlement. This ensures that only the most liquid and in-demand instruments remain available to traders.
This article outlines the planned expiration of BCH, EOS, LTC, TRX linear futures, and XBTEUR inverse futures, as well as the early settlement of ALTMEXUSD and DEFIMEXUSD perpetual contracts. We’ll explain what these changes mean for active traders, how settlements will be executed, and what actions you may need to take.
Upcoming Expiry of BCH, EOS, LTC, TRX, and XBTEUR Futures
To maintain a healthy trading environment, we are scheduled to delist several futures contracts on December 31, 2025, at 12:00 UTC, following the regular December expiry cycle.
The affected instruments include:
- BCHXBT
- EOSXBT
- LTCXBT
- TRXXBT
- XBTEUR
These contracts will not be renewed for the H22 cycle, meaning no new futures series will be listed after their final settlement. This decision reflects ongoing market assessment of trading volume, open interest, and overall demand.
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Final Trading and Settlement Details
All existing contracts — BCHZ21, EOSZ21, LTCZ21, TRXZ21, and XBTEURZ21 — will remain tradable until the official expiry time. At 12:00 UTC on December 31, 2025, they will be settled using the 30-minute volume-weighted average price (VWAP) index, commonly referred to as the 30M settlement index.
Traders holding positions at expiry will be automatically settled based on this index. It is crucial to monitor your open positions ahead of this deadline to avoid unintended outcomes.
This routine delisting process ensures that only the most actively traded assets continue to have derivative support, aligning product offerings with real market demand.
Early Settlement of ALTMEXUSD and DEFIMEXUSD Perpetual Contracts
In addition to scheduled expiries, certain perpetual contracts are subject to early termination due to strategic platform updates or low market activity. In this case, ALTMEXUSD and DEFIMEXUSD perpetual swaps will undergo early settlement on December 15, 2025, at 12:00 UTC.
This proactive measure allows for a smooth transition and prevents potential disruptions during future network upgrades or maintenance cycles.
How the Early Settlement Process Works
The early settlement follows the protocol detailed in the official BitMEX Exchange Guide, specifically under the section on The Process for Early Settlement — Perpetual Swaps. Key points include:
- Settlement will be based on the 30M index price at the time of expiry.
- No funding payment will occur at the 12:00 UTC timestamp on December 15.
- There will be no settlement fees charged to users.
- All outstanding positions will be closed automatically using the final index value.
To ensure transparency and preparedness, a testnet simulation of the delisting process will take place 24 hours before the mainnet settlement — that is, on December 14, 2025, at 12:00 UTC. This allows users to observe how the system handles contract termination and verify their risk management strategies in a sandbox environment.
Traders are strongly advised to either close their positions manually before the deadline or ensure their risk parameters are aligned with automatic settlement mechanics.
Why Are Contracts Delisted or Settled Early?
Understanding the rationale behind contract removal helps traders anticipate changes and adapt their strategies accordingly. The primary reasons include:
- Low liquidity: Contracts with minimal trading volume can lead to slippage and unfair pricing.
- Declining interest: As market focus shifts toward newer or more volatile assets, older pairs lose relevance.
- Operational efficiency: Maintaining fewer contracts improves platform stability and resource allocation.
- Strategic realignment: Platforms may refocus on core asset classes like Bitcoin (BTC), Ethereum (ETH), or high-growth altcoins.
By retiring underperforming instruments, exchanges enhance overall market quality — benefiting both retail and institutional participants.
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Frequently Asked Questions (FAQ)
What happens if I don’t close my position before expiry?
If you hold an open position when a contract expires or is settled early, it will be automatically closed at the final 30M settlement index price. You do not need to take any action, but your P&L will be calculated based on that rate.
Will I be charged a fee during early settlement?
No. There are no fees associated with the early settlement of ALTMEXUSD and DEFIMEXUSD perpetual contracts. Additionally, no funding payment will be processed at the final timestamp.
Can I still trade these contracts before delisting?
Yes. All affected futures and perpetuals will remain available for trading until their respective expiry times:
- BCH, EOS, LTC, TRX, XBTEUR: Until December 31, 2025
- ALTMEXUSD & DEFIMEXUSD: Until December 15, 2025
After these dates, no further trading will be possible.
Why was the testnet simulation introduced?
The testnet rehearsal allows users to see how the delisting process unfolds without financial risk. It promotes transparency and gives traders confidence in the platform’s reliability during critical operations.
Are new contracts expected to replace these?
While no direct replacements have been announced for BCHXBT or EOSXBT, platforms often introduce new instruments based on emerging market trends — such as AI-related tokens, RWA-based assets, or Layer 3 solutions. Stay tuned for future listings focused on innovation and growth sectors.
How can I stay informed about future changes?
Regular updates are posted through official channels. Monitoring announcements helps you adjust your portfolio proactively and avoid surprises during roll-over periods.
Final Thoughts
Market evolution requires constant refinement of available financial instruments. The delisting of BCH, EOS, LTC, TRX, and XBTEUR futures — along with the early closure of ALTMEXUSD and DEFIMEXUSD perpetuals — reflects a strategic effort to maintain a clean, efficient, and liquid trading environment.
For active derivatives traders, staying informed about expiry schedules and settlement rules is essential. Proper planning around these events can help preserve capital, reduce risk exposure, and improve overall trading performance.
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As always, we encourage users to review their positions ahead of key deadlines and leverage available resources to navigate transitions smoothly. The crypto market moves fast — being prepared is half the battle won.