Terry Duffy, CME Group Chairman and Chief Executive Officer, explained: "Given increasing client interest in the evolving cryptocurrency markets, we have chose to introduce a bitcoin futures contract".
Speculators believe that Bitcoin futures are not the only reason behind the Bitcoin surge.
With this jump, Bitcoin has grown seven times since the start off this year.
The creation of Bitcoin futures is a key development for cryptocurrency trading that can be used by institutional investors, who at the moment have few opportunities to trade the digital currency. It hasn't been easy for Bitcoin to reach the heights it has, but time and again the cryptocurrency has rallied back to new astronomical levels that not even critics can ignore.
This entire event meant that bitcoins took its own "market cap" - the price multiplied by the number of coins that have been released into circulation - to a new record which is just around a massive $110 billion.
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Some of them were included in prior recalls in March 2009 and February 2015 , while others were sold more recently. Kidde has announced it will replace defective extinguishers free with the new ones that are made with metal parts.
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It also established a venture capital fund to build partnerships with researchers and start-up companies in AI and robotics. Sony's announcement came a day after it forecast record earnings, leading to a nine-year high in its share price.
Chinese authorities may have halted domestic trading of bitcoin exchanges and critics such as Jamie Dimon, JPMorgan Chase CEO, may have called it 'a fraud, ' but it's had relatively little impact on the currency's overall value.
The most valuable cryptocurrency, Bitcoin, has smashed a new record for itself and any other cryptocurrency.
The value of digital currency Bitcoin has increased sevenfold since the beginning of the year.
The world's most popular digital currency is on a record-breaking marathon. The decision from the institution, which dubs itself "the world's leading and most diverse derivatives marketplace", gave bitcoin a major vote of confidence and is seen as a step towards its widespread acceptance on Wall Street. Just like gold futures, Bitcoin is looking to enter the same market all thanks to the CME Group. As long as demand for it remains, it will continue to grow and as its value does, so too will future price predictions.
The present price of Bitcoin in India is at Rs 4.9 lakh. She has encouraged banks and regulators to learn about the technology, and to be prepared.