Bitcoin Cash Surges Following CME Futures Announcement
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Written by
Simonas Brazionis - Updated 2026-09-28 06:05:24
Bitcoin Cash (BCH) saw a significant price surge this week, climbing up to 30% after CME Group announced the launch of BCH and Uniswap futures on October 19. This development also propelled Bitcoin SV (BSV), a derivative of Bitcoin Cash, to an approximate 20% gain, reaching an annual high near $21.
In contrast, Bitcoin (BTC) experienced a decline, moving towards $84,000. This downturn for BTC coincided with a shift in trader focus towards its forks, BCH and BSV, which recorded substantial gains even as the broader crypto market showed signs of cooling.
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Origins of Bitcoin Cash and Bitcoin SV
Bitcoin Cash emerged in August 2017 from a split with Bitcoin's main chain. This fork was driven by disagreements over block size, with BCH aiming to facilitate cheaper and faster transactions. Subsequently, Bitcoin SV forked from Bitcoin Cash in 2018.
Bitcoin SV's creation stemmed from a dispute over block size and a desire to revert to Bitcoin's original design principles. Historically, both BCH and BSV have traded at lower valuations and volumes compared to Bitcoin, with their price surges typically driven by specific catalysts.
CME Group's Futures Announcement and Market Impact
The primary catalyst for Bitcoin Cash's recent surge was CME Group's announcement on Monday to introduce Bitcoin Cash futures contracts. These contracts are set to launch on October 19, pending regulatory approval. This addition makes BCH the tenth single-asset crypto contract offered by the exchange, with Uniswap being the eleventh.
Standard contracts will represent 250 BCH, while micro versions will cover 25 BCH, catering to smaller traders. Giovanni Vicioso, CME's global head of cryptocurrency products, stated that these contracts are designed to provide institutions with regulated instruments for managing price risk in digital assets.
Further Catalysts and Market Dynamics
Following the news, Bitcoin Cash surged past $340, briefly touching $358 before moderating. An additional boost came from Grayscale's filing to convert its Bitcoin Cash Trust into a spot ETF for listing on NYSE Arca, further strengthening BCH's institutional adoption narrative alongside the new futures offering.
This rally briefly pushed BCH's weekly gain beyond 50%. Bitcoin SV (BSV) mirrored this trend, increasing by approximately 20% and reaching an annual high of $21. The open interest in BSV derivatives also climbed, indicating new positions rather than just short covering.
This pattern of Bitcoin forks outperforming the original coin in short, intense periods before ceding gains is not uncommon. It is often attributed to their lower market capitalization, which makes them more susceptible to significant price volatility. Meanwhile, spot Bitcoin ETFs attracted $715 million in inflows on Tuesday, even as Bitcoin's price stabilized.
