Cboe Options Exchange is set to introduce the Cboe IBIT Volatility Index (BITVX) on March 23, expanding its suite of volatility indices. BITVX will apply Cboe's VIX methodology to the bitcoin market, measuring expected 30-day volatility using options pricing data from the iShares Bitcoin Trust ETF (IBIT), managed by BlackRock. The index will be calculated by Cboe Global Indices, utilizing implied volatility derived from options prices, similar to the CBOE Volatility Index (VIX).