Crypto Facilities, the U.K-based crypto futures exchange and CME Group partner, is adding a bitcoin cash product to its offerings.
Trading of the bitcoin cash future will begin at 4 p.m. British Standard Time.
The contract joins the company's existing bitcoin, ethereum, XRP and litecoin futures contracts.
Investors can take long or short positions on bitcoin cash, "Allowing them to broaden investment opportunities and hedge risk more effectively," according to the company.
Crypto Facilities CEO Timo Schlaefer told CoinDesk that "Bitcoin cash is a top-five cryptocurrency by market cap so it was a logical next step to add BCH to our BTC, ETH, XRP and LTC futures offering."
"We have seen volumes as high as $180 million in a 24-hour period and have average daily volumes ranging from $20-60 million notional per day. We expect BCH to be as successful as our BTC, XRP, ETH and LTC futures that all trade in significant volume."
"Since 2015 we have seen a steady increase in volume in the cryptocurrency derivatives space, with the past year seeing the highest growth so far," he added.
While Crypto Facilities does not have a U.S. branch, the firm partnered with CME Group to launch the latter firm's bitcoin futures contract last December.
To that end, Crypto Facilities powers two bitcoin price indexes - the CME CF Bitcoin Reference Rate and CME CF Bitcoin Real Time Index - that underpin CME Group's futures product.
CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
UK Crypto Futures Exchange Adds Bitcoin Cash Contract
gepubliceerd op Aug 17, 2018
by Coindesk | gepubliceerd op Coinage
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