Preheat oven to 350 degrees. Line a baking sheet with foil.
Using a serrated knife, slice bread in 1-inch intervals, being careful to not cut all of the way through. Then using kitchen shears, cut crosswise, in 1-inch intervals, being careful not to cut all of the way through. Note: Using kitchen shears helps prevent the bread from tearing. Place bread on the prepared baking sheet.
Whisk together melted butter and ranch dressing mix, until well combined. Spoon butter mixture evenly in between all cuts.
Evenly stuff crumbled bacon, green onions and cheddar cheese into all of the cuts.
Cover bread loosely with a piece of foil sprayed with non-stick cooking spray. Bake for 15 minutes; uncover and bake an additional 5 minutes. Serve hot.