Channel Division Multiple Access (ChDMA) is a promising multiple access scheme for Ultra-Wide Band (UWB) systems based on the use of the Channel Impulse Responses (CIR) as user signatures. In this work, we modeled the UWB-CIR as linear combinations of continuous impulses of finite duration randomly delayed. Two different channels are considered: the first, very simplistic, generates multipaths that are uniformly distributed over the time; the second model, which introduces correlation between the delay and the energy of the paths, is built based on the channel power profile. The capacity is investigated assuming no Channel State Information (CSI) at the transmitters and perfect CSI at the receiver. As results, we derive the asymptotic capacity of the ChDMA scheme when the number of users and the number of frequency dimensions (which is proportional to the bandwidth) go to infinity with constant ratio. As a consequence, we observe that the asymptotic spectral efficiency depends only on the system load, the power delay profile, the noise variance and the pulse signal. The results are validated in certain conditions and compared with known results on CDMA systems.