Bitcoin Cash (BCH) Futures Officially Launched
Crypto Facilities, a CME partner, has announced the addition of Bitcoin Cash (BCH) to its list of futures products. Bitcoin Cash, the fourth cryptocurrency ranked by market cap has seen an increase in price since the news was made.
Crypto Facilities, a global trading platform for cryptos, and the partner to CME Group with whom it launched the first Bitcoin futures in December 2017, officially revealed that it would be made available the first BitcoinCash-Dollar (BCH/USD) futures, starting with Friday 17th August.
This new financial product will enable investors and traders to take a long or short position in Bitcoin Cash and to have access to more investment and risk management opportunities. Before this addition, Crypto Facilities already offered futures with the following coins: Bitcoin, Ripple XRP, Ether, and Litecoin.
Timo Schlaefer, CEO of Crypto Facilities, said regarding the news:
“We are pleased to be expanding our cryptocurrency derivatives offering with the launch of BitcoinCash futures. BCH is a top five coin with a market capitalization of around $10 billion* and we expect our new contracts to spur the evolution of the crypto markets by bringing greater liquidity and transparency to the digital asset class.”
Bitmain, one of the largest crypto mining hardware manufacturer, expressed its confidence in the BTC fork, being probably one of the biggest holders of Bitcoin Cash (BCH). Such information was revealed from an IPO filing which showed that the company owned over USD 500 million in BCH, the largest of its crypto assets. The other crypto holdings of Bitmain include USD 132 million of BTC, USD 47 million worth of Litecoins, USD 43 million of DASH and USD 288K worth of Ethereum.
The future for BCH looks quite prosperous for now, considering the interest given by major figures in the crypto space and its newest developments. These new futures derivatives of BCH will most certainly open new investment opportunities for traders.