Bitcoin is surging to a new record high ($8,400 AUD at this time), the surge comes as CME Group announces bitcoin futures trading, which it says will launch during the fourth quarter of 2017. The decision is still pending the relevant regulatory reviews. But CME group will likely have the power to push it through.

exchange bitcoin futures cme group cryptocurrency
Bitcoin’s price pump following bitcoin futures announcement.

CME Group is a giant when it comes to trading financial assets and commodities including futures on the S&P 500, oil and gold. CME Group intends to introduce the contracts for exchanging bitcoin futures by the end of this year.

The announcement comes following statements made last month by Bryan Durkin, the CME Group’s president, who stated that 

“I really don’t see us going forward with a futures contract in the very near future.”

cryptocurrency futures launch
Bitcoin price on Bloomberg after the announcement of BTC futures