CME Group Sparks Crypto Surge with BCH and Uniswap Futures Launch

CME Group's move to launch Bitcoin Cash (BCH) and Uniswap futures on October 19 has sent shockwaves through the crypto market. BCH surged by a whopping 28% in just 90 minutes after the announcement, reaching a multi-month peak of $340. Uniswap's token also saw a significant spike of 15%, topping $10.

The new contracts will join CME's existing lineup, which already includes Bitcoin (BTC), Ether, XRP, and other popular cryptocurrencies. The exchange is providing full-size and Micro contracts for each asset, catering to a wide range of traders. As Giovanni Vicioso, Global Head of Cryptocurrency Products at CME Group, noted, the move aims to provide regulated tools for navigating evolving digital asset-related price risk.

Crypto markets have been experiencing significant growth in recent times, with the total market cap gaining 1.8% over the past 24 hours. BCH has been one of the top performers, surging by 55% since September 16. However, it remains 91.5% below its peak price of $3,785.82 in December 2017.

Notably, CME's crypto futures and options average daily volume reached $8.3 billion in the first half of this year, with open interest totaling $15.4 billion. The exchange's move to add new contracts is seen as a significant step towards mainstream adoption of cryptocurrencies.