Bitcoin surges to record above $6,400 after CME announces launch of futures for digital currency

Source: CNBC

“CME announced Tuesday it plans to launch bitcoin futures in the fourth quarter, pending regulatory review. Bitcoin rose to a record high above $6,400 Tuesday morning, according to CoinDesk, after the announcement by the world’s largest futures exchange. … The growth of bitcoin derivatives is also another step toward the development of the digital currency as a more established asset class. Fundstrat’s Tom Lee said his call for bitcoin to top $20,000 by 2022 is based partly on expectations that bitcoin derivatives products will launch. Some sellers of exchange-traded funds have also filed for bitcoin ETFs that track bitcoin futures.” (10/31/17)