The British digital assets trading platform Crypto Facilities will launch futures contracts for Bitcoin Cash. The project is Chicago Mercantile Exchange’s (CME) partner.
Representatives of the platform noted that investors can hedge risks and expand their investment opportunities more effectively by opening long and short positions on Bitcoin Cash. Adding BCH to the financial instruments has become a logical step for the company. Previously, Crypto Facilities launched trading in futures contracts for Bitcoin, Ethereum, XRP and Litecoin. The average daily trading volume on the platform is about $20-60 million.
WHY IS IT IMPORTANT?
- Crypto Facilities is CME’s partner. In December last year, the team of the British platform helped the exchange to launch bitcoin futures.
- Terry Duffy, the CEO of CME Group, stated that the Chicago Mercantile Exchange does not plan to launch futures products for altcoins in the near future due to their volatility and novelty.
- Also recently, CME reported that the average daily trade volume of bitcoin futures rose by 93% on the exchange in the second quarter of this year. The number of open contracts for bitcoin futures for the same period exceeded 2,400. This is 58% more than in the first quarter of 2018.