Roger Ver’s firm preparing to launch derivative for bitcoin cash

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Bitcoin.com, the firm backed by cryptocurrency investor Roger Ver, is preparing to launch a futures contract for bitcoin cash (BCH), currently the world’s fourth-largest cryptocurrency by market capitalization.

David Shin, head of Bitcoin.com’s recently launched crypto exchange, told Bloomberg in a report published Thursday that he has initiated talks to list a BCH derivatives product on a Commodity Futures Trading Commission (CFTC)-regulated exchange.

“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,” Shin said.

The move is aimed at making BCH the second-or third-largest crypto by market cap “within a year,” he said, adding: “To get from No. 4 to No. 3 or No. 2, we have to see more volume.”

Shin added that he would "love to speak with CME about listing a BCH future.” CME Group, which already offers bitcoin futures contracts since as early as 2017, is also gearing up to launch another bitcoin derivatives product, as reported by The Block last week. It could launch before the end of this year.

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Jan 20, 2022, 3:23PM UTC