Bitcoin.com, the company backed by the vocal Bitcoin Cash supporter, Roger Ver, has announced that it has initiated talks with “a few possible suitors” that will eventually lead to a Bitcoin Cash (BCH) futures product launch on a Commodity Futures Trading Commission (CFTC)-regulated exchange.
David Shin, the head of the newly launched Bitcoin.com crypto exchange, in a comment to Bloomberg, said their aim is to see the derivative product traded in the U.S. by institutional grade investors. David is the former Asia head of global equity derivative sales at TD Securities, and is now working towards global adoption of Bitcoin Cash.
While talking to COIN360, Shin clarified:
“We are not launching futures yet. The Bloomberg article was just saying that it’s something we will look to do and the initial conversations have started with a few possible suitors. Ultimately the idea is to list it on a CFTC regulated exchange that currently lists crypto futures or is looking to launch.”
According to Shin, the objective of Bitcoin.com is to see Bitcoin Cash’s market cap expand, flipping other altcoins like XRP and ETH to become the second or third most valuable digital asset after Bitcoin (BTC) “within a year”. He added that he would “gladly love to talk with CME Group” about a possible Bitcoin Cash Future listing.
“We’ll try to list a BCH future on one of these exchanges that’s CFTC regulated to, therefore, have a product that can be traded into the U.S. with institutional traders. In theory, we should see more penetration, more users, more trading and more volume,” - Shin concludes.
At the time of press, BCH is the fourth-largest cryptocurrency by market capitalization with $5,377,765,187 from 17,996,877 BCH coins in circulation.