UK Crypto Futures Exchange Includes Bitcoin Cash

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The U.K-based crypto futures exchange, and CME Group partner “Crypto Facilities” has announced that it will be adding a bitcoin cash product to its offerings.

According to the announcement, the firm is launching the contract on its platform that is regulated by the U.K. Financial Conduct Authority. The trading will start from Friday evening at 4 p.m in British Standard Time.

The record joins the company’s existing bitcoin, ethereum, XRP and litecoin futures contracts. The company said that investors could either take long or short positions on bitcoin cash. This can allow them to expand the investment opportunities and hedge risk more effectively.

Timo Schlaefer, CEO, Crypto Facilities told:

“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.”

Schlaefer predicted that the offering would be famous with its customers. It is because of their past interest in other crypto futures.

He Included:

“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.”

He revealed that since 2015 they had seen a constant increase in volume in the cryptocurrency derivatives space. Last year they saw the highest growth.

Nishanth Shetty

Nishanth Shetty is a technical writer, author and a crypto-advisor working at Cryptofame. Based in the city of dreams, Mumbai, on the west coast of India. He holds a bachelors degrees from Mangalore University. Nishanth has a myriad experience of technical writings for tech brands. His interests include technology, travel, and food.