The challenges of launching world’s first Bitcoin-based ETF
toBitcoin.com is in talks with a regulated exchange to launch Bitcoin Cash futures contracts shortly and plans to discuss this with CME Group.
David Sheen, head of the exchange division of Bitcoin.com, said that he had previously agreed to cooperate with an exchange controlled by the CFTC. The company’s goal is to increase the bitcoin cash rate within a year and bring the coin to the 3rd or even 2nd position in the market capitalization rating by increasing investor interest.
David Sheen also wants to start working with a retail broker that will offer the regulated derivative to a wide range of traders, as well as discuss cooperation with the Chicago Mercantile Exchange to enter the institutional market..
At the time of publication BCH is trading at $ 298 and takes 4th position in the capitalization rating, behind XRP, Ethereum, and Bitcoin.
Currently, of all regulated US exchanges, cryptocurrency futures are only available on CME, but daily and monthly deliverable bitcoin futures are scheduled to launch on September 23rd at Bakkt, and the ErisX product is still awaiting a CFTC decision..
text: Ivan Malichenko, photo: townsquare