Investing.com – Bitcoin notched record highs for the second day in a row as the digital currency edged closer to $10,000, while Bitcoin cash turned negative after struggling to hold onto early gains.
On the U.S.-based Bitfinex exchange, bitcoin rose to $9909, up $181.8, or 1.90% after rising to an all-time high of $9999 earlier. Bitcoin’s market cap rose to $168.37 billion.
The positive optimism on bitcoin comes amid signs of rising institutional demand as JPMorgan (NYSE:JPM) said last week it was considering whether to provide its clients access to bitcoin futures following the CME Group’s plan to introduce bitcoin futures before the end of the year.
"Effective Sunday[,] 10 December 2017 for trade date Monday[,] 11 December 2017, and pending all relevant regulatory review periods, please be advised that CME will launch Bitcoin Futures." The CME Group (NASDAQ:CME) noted on its website last week.
The CME group’s announcement has fuelled investor hopes that bitcoin exchange-traded funds will follow the launch of bitcoin futures, which would further add to institutional demand, extending the rally in bitcoin.
Bitcoin cash fell 4.05% to $1,520, while bitcoin gold fell 8.55% to $330.80.
Ethereum, the second largest cryptocurrency by market cap, fell 1.91% to $464.10. Ethereum founder Vitalik Buterin recently revealed a plan which, if successful, could see Ethereum reach VISA-level scalability in the next 3-5 years.