Bitcoins have recently garnered greater attention as the cryptocurrency surged past the $4,000 mark over the weekend. A bitcoin is now trading at around $4,270.
It is not immediately clear what caused the sudden rise in bitcoin prices. However, some attributed the recent surge to the bitcoin network officially accepting a long-debated upgrade called segregated witness, which made transactions in bitcoins much easier, reports ars technica. Another attributing factor may be associated with creating a spinoff currency called bitcoin cash, which many anticipated would weaken the appeal of bitcoins but the concerns appear unwarranted.
Related: An ETF to Access Disruptive Companies Like Bitcoin
CBOE Holdings and Gemini Trust Company, the bitcoin exchange owned by the Winklevoss twins, recently reached an agreement that provides the Chicago Board Options Exchange and its affiliates with exclusive global license to use Gemini’s bitcoin market data for bitcoin derivatives and licenses, according to a note.
Further supporting the bitcoin derivatives market, the U.S. Commodity Futures Commission also granted LedgerX, a bitcoin options exchange, the first license to clear and settle derivative contracts for digital currencies, Reuters reported.
With greater access to bitcoin-related derivatives, the proposed VanEck bitcoin ETF may have the necessary infrastructure to put its strategy to market.
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