Bitcoin notched yet another all-time high on Tuesday, surging above $6,400 as investors cheered news that futures market operator CME group announced plans to launch bitcoin futures in the fourth quarter.
On the U.S.-based Bitfinex exchange, bitcoin rose to $6368.5, up $234.1, or 3.28% after hitting an all-time high of $6450.
“Given increasing client interest in the evolving cryptocurrency markets, we have decided to introduce a bitcoin futures contract,” Terry Duffy, CME Group chairman and CEO, said in a statement.
The announced was cheered by investors who expect that bitcoin’s foray into the futures market on the CME – the leading global exchange for options and futures contracts – moves the digital currency closer to becoming an establish asset class.
Other cryptocurrencies followed bitcoin’s move higher, as bitcoin cash added 0.47% to $447.66 while bitcoin gold rose 16.95% to $131.51. The move higher in bitcoin gold comes three-days after it slumped to an all-time low of $87.2.
Ethereum, the second largest cryptocurrencies by market cap, fell 0.12% to $306.63.