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Bitcoin hits all-time high after CME Group says to launch futures

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Bitcoin hits all-time high after CME Group says to launch futures

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By Jemima Kelly LONDON (Reuters) – Bitcoin jumped to an all-time high above $6,300 (£4,754) on Tuesday, after the world’s largest futures market operator CME Group <CME.O> said it would launch a regulated trading venue for cryptocurrencies in the fourth quarter of 2017. The new futures contracts will be settled in cash, based on the CME ‘CF Bitcoin Reference Rate’, a once-a-day reference rate of the U.S. dollar price of bitcoin, the company said. The price of bitcoin jumped to as high as $6338.60 according to trade website Coindesk’s price index, which aggregates the prices quoted across several exchanges. That was up from around $6,215 before the news. On the Luxembourg-based Bitstamp exchange, bitcoin jumped to as high as $6,351 <BTC=BTSP>, up almost 4 percent on the day. Bitcoin has surged in value by around 555 percent so far this year.

(Reporting by Jemima Kelly; Editing by John Geddie)
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