Grayscale's Spot ETF Filing Fuels Bitcoin Cash Rally

Bitcoin Cash (BCH) surged 19.19% after Grayscale filed with the SEC to convert its Bitcoin Cash Trust into a spot ETF, and CME Group disclosed plans to introduce BCH futures pending review.

The move is backed by strong bullish pressure, as BCH/USD trades above all major moving averages, with buying momentum confirmed across technical indicators.

Grayscale's amended registration statement with the SEC for a spot ETF on NYSE Arca has prompted heightened market activity and speculative flows into BCH. CME Group's plans to launch Bitcoin Cash futures contracts further extend BCH's profile in regulated derivatives markets.

The current price of $319.9 sits above the 20-day, 50-day, and 200-day moving averages, indicating robust bullish pressure across short-, medium-, and long-term trends.