The cryptocurrency is now trading at roughly $11,400, as per CoinDesk's Bitcoin Price Index (BPI). The popular digital currency market cap rose to $189 billion.
As per the analysts, the main derivatives of United States regulates that it would permit CME Group Inc and CBOE Global Markets to list bitcoin futures contracts, which had turned sentiment positive after a choppy week.
CME is not the only USA exchange that is going to add bitcoin futures to their product offerings.
CME's bitcoin futures will be based on a "Bitcoin Reference Rate", which will be a "a once-a-day reference rate" based on the US-dollar price of the coins.
The recent wave of optimism concerning bitcoin futures has added to investor hopes that bitcoin exchange-traded funds will follow the launch of bitcoin futures, which would cement bitcoin as an established asset class, raising hopes of a surge in institutional demand.
Bitcoin trading markets seem to have already priced the CBOE's move into their assessment of the cryptocurrency's price.
This also led to the migration of a few miners and investors to other markets like bitcoin cash and ethereum and once again, it looked as though the bitcoin prices would crash a lot more. "To promote this, we will initially offer XBT futures trading for free." said Ed Tilly, Chairman and Chief Executive Officer of Cboe Global Markets. But there are a couple of differences between bitcoin futures trading at the two exchanges.
"The price rises are triggered by continued media interest driven by the expectation of futures trading on CME", Charles Hayter, founder of data analysis website Cryptocompare, said.
The announcement from the Commodity Futures Trading Commission (CFTC) that it will allow the futures to be traded was seen as a watershed moment for the currency.