First Bitcoin Cash Regulated Futures Released by Crypto Facilities


CME futures partner, Crypto facilities announced on Friday, August 17, that it has added Bitcoin Cash (BCH) to its list of futures product.

This announcement was contained in a press release by the company which added that the product has gone live at 4 PM BST Friday, August 17.

Bitcoin Cash Joins Bitcoin, Ripple, Ethereum, and Litecoin

Crypto Facilities became popular after it partnered with CME Group on its first-of-its-kind Bitcoin futures towards the end of last year.

In its press release, the firm stated that the move reflected Bitcoin Cash’s status as one of the top five cryptocurrencies by market cap.

Crypto Facilities currently offers Bitcoin (BTC), Ripple (XRP), Ethereum (ETH) and Litecoin (LTC) futures. CEO Timo Schlaefer commented in the release

We are pleased to be expanding our cryptocurrency derivatives offering with the launch of [Bitcoin Cash] futures.

He further added

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.

Investors interested in Bitcoin Cash will now be able to gain exposure to the coin. This move by Crypto Facilities means this is the first FCA-regulated futures options for the cryptocurrency.

Bitmain holds more BCH than BTC

This latest development comes at a time when Bitcoin Cash is receiving a lot of mixed attention from the crypto world. Mining giant Bitcoin announced a few days ago that it is set to perform an Initial Public Offering (IPO) in the near future.

Leaked documents from Bitmain’s pre-IPO investor deck show that, as of March 31, the China-based firm was holding more than 1 million bitcoin cash (BCH) on its balance sheet, worth nearly $600 million at the present exchange rate.

However, that amount has reportedly dropped nearly $300 million from when the data in the investor deck was published.

This represents 5 percent of the 17.3 million BCH currently in circulation and 12.5 percent of the 8.4 million BCH that have been moved since the Aug. 2017 hard fork.

No one is certain how much bitcoin cash Bitmain is holding now, as it has been five months since the last data was published.

Data extracted from bitcoin cash “rich list” indicates that the figure is between 664,000 and 1.33 million.

This has raised concerns amongst analysts and experts over giant liquidity problems due to BCH’s relatively illiquid trading market.

ICOs can be released on Bitcoin Cash Network

Earlier this week, developers released a new protocol which would allow the release of Initial Coin Offering (ICO) tokens on the Bitcoin Cash network.

The new tool was unveiled by and lead developer Corbin Frasers. Ver in his video presentation stated that the advent of the Wormhole Cash protocol, which allows for token creation on Bitcoin Cash, would afford new possibilities.

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