Bitcoin Cash – Can BCH target $480 as CME Futures launch nears?

Bitcoin Cash [$BCH] price jumped 27.71% at press time, after CME Group announced plans to launch regulated $BCH Futures on October 19, pending full regulatory review.

Particularly, the announcement provided an important institutional catalyst as the token recorded one of its strongest recent price rallies. Besides, the CME’s planned contracts would also introduce regulated exposure to Bitcoin Cash without mandating market participants to hold the asset directly.

Additionally, trading activity also expanded sharply following the development, with spot volume climbing 285.6% to $1.38 billion. More importantly, the market responded weeks before the scheduled October 19 launch instead of waiting for Futures trading.

The approaching launch could therefore widen institutional reach while giving market participants another regulated element for $BCH exposure.

Fresh leverage follows $BCH higher

As $BCH price rallied, the interest across derivatives markets also expanded alongside $BCH’s as traders increased their exposure.

Specifically, the derivatives volume surged 300.13% to $2.35 billion as of writing, substantially exceeding the percentage increase recorded across the spot markets.

Furthermore, the token’s Open Interest (OI) also jumped 38.71% to $588.06 million as traders established fresh positions. Also notably, the rise emerged as $BCH’s price appreciated, implying that new exposure entered instead of the existing positions closing.