According to CoinMeta, CBOE is exploring perpetual VIX futures, with the aim of introducing the never-expiring contract style of crypto into Wall Street's panic indicators. Unlike traditional VIX futures, traders do not need to roll their positions into new contracts monthly, which could make volatility exposure more continuous, reduce rolling costs, and may attract more short-term and systematic trading activity. However, a key challenge is that VIX itself cannot be purchased like stocks or Bitcoin; therefore, market makers will still face funding costs, basis risk, and more complex hedging issues. A larger signal is structural: the design of the crypto market is increasingly shifting towards traditional finance.