- CME Group plans to launch Bitcoin Cash futures and Micro Bitcoin Cash futures on October 19, pending regulatory review.
- Bitcoin Cash (BCH) surged roughly 30% over 24 hours and gained approximately 58% over the past seven days.
- Grayscale filed an amended registration statement to convert its Bitcoin Cash Trust into an ETF listed on the NYSE Arca.
- BCH open interest hit roughly $600 million, the highest level since May, as trading volume reached a one-month high.
CME Group announced plans to launch Bitcoin Cash futures and Micro Bitcoin Cash futures on October 19, pending regulatory review. The news sent Bitcoin Cash (BCH) skyrocketing over 30% in 24 hours, trading above $351. Consequently, trading activity surged to a one-month high, with volume rising to $1.8 billion over the past day. According to data from Coinglass, BCH open interest increased to around $600 million from approximately $350 million just days earlier.
Grayscale added to the momentum by filing an amended registration statement on September 11 for its Bitcoin Cash Trust. The filing proposes renaming the product Grayscale Bitcoin Cash Trust ETF and listing its shares on the NYSE Arca under the ticker “BCHG.” This development provides investors another regulated route for BCH exposure beyond the spot market. Retail sentiment on Stocktwits shifted to ‘bullish’ territory from ‘bearish’ as the broader Bitcoin Fork sector also rallied over 25% in 24 hours.
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