ErisX - Exchange Review

First look

ErisX came out, it had the image of a safe bet. Fully licensed, working under U.S. regulations, offering spot markets and physically settled futures. Traders were supposed to trust it. Institutions too. But the buzz never turned into real activity.

Cboe stepped in, bought the platform in 2022, and folded it into their digital plans. It sounded like the start of something big. New partners joined, new features were promised. Yet the market stayed cold. No volume, no crowd, no growth.

The fall

By 2024, Cboe decided to close the spot side. Futures didn’t die - they were moved under Cboe’s bigger derivatives arm. The change was quiet. No scandal, no hacks. Just a slow end to something that couldn’t hold on.

What’s left now

In 2025, ErisX as an exchange is gone. You won’t find public order books or traders using it. The name still pops up, but only as part of Cboe’s history. It faded out, simple as that.

Why it slipped away

The structure was there. Licenses, solid backers, a product mix that looked fine. But crypto needs more than that. It needs people trading, liquidity, movement. ErisX never had enough of it.

Quick facts

Final thoughts

ErisX had everything on paper, but crypto doesn’t run on paper. It runs on users and trust. Without them, even the most compliant exchange fades. By 2025, ErisX is just a name people mention when they talk about what could have been.