Bitcoin Cash was rising on Wednesday, even as Bitcoin prices fell.

While Bitcoin has received the bulk of headlines and trader attention in recent days, it was Bitcoin Cash that was advancing Wednesday.

Bitcoin Cash rose 27% between Monday at 5 p.m. Eastern time and 5 p.m. on Tuesday, according to Dow Jones Market Data. Bitcoin Cash was up 3.7% at $352.46 on Wednesday and was on pace to rise for a third consecutive day, gaining 40% over that stretch.

The significant move came as CME Group late Tuesday said it's adding cash-settled Bitcoin Cash futures to its regulated cryptocurrency suite on Oct. 19, pending regulatory review.

The Chicago-based exchange said it would add Bitcoin Cash futures alongside Uniswap futures to its lineup in response to "strong client demand for institutional-grade risk management tools across high-liquidity altcoin markets."

"Designed for greater versatility and capital efficiency, these new BCH and UNI contracts allow clients to manage price risk and gain exposure to key crypto networks within our 24/7, regulated marketplace," Giovanni Vicioso, global head of cryptocurrency products at CME Group, said in the media release.

Bitcoin Cash is a high-risk, speculative asset that is described as a "peer-to-peer electronic cash" that can be sent globally without an account.

Unlike the U.S. dollar, Bitcoin Cash operates on a decentralized blockchain network without central authority, meaning drastic swings in value are possible.

Bitcoin Cash is a cryptocurrency that is created in 2017 from a blockchain fork of Bitcoin. The currency was designed to allow faster and cheaper transactions than Bitcoin and is accepted by some online merchants. Similar to Bitcoin, it has a 21-million fixed supply.

Bitcoin prices, meanwhile, were down about 1% at $85,379 on Wednesday. The world's largest cryptocurrency, however, has risen 8.2% in September as traders have looked past the failure of the Clarity Act, a key piece of crypto legislation, and focused on the agencies responsible for interpreting and enforcing existing regulation.

Whether the recent surge in Bitcoin Cash can last is another question. Bitcoin has dramatically outperformed Bitcoin Cash over the longer term.

While Bitcoin Cash has risen significantly since Monday, it remained down 41% this year and 90% below its record closing high of $3,639.30 from Dec. 20, 2017, according to Dow Jones Market Data.