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Bitcoin rebounds to $10,500 mark as US regulator approves futures

It has been a volatile week for the biggest and best-known cryptocurrency

Reuters  |  London 

A copy of bitcoin standing on PC motherboard is seen in this illustration picture

rebounded on Friday to hit the day's highs above $10,500, recovering from an earlier dip below $9,500, after the US derivatives regulator said it would allow and CBOE Global to list futures. The announcement by the Commodity Futures Trading Commission (CFTC) paves the way for CME and CBOE to become the first traditional U.

S. regulated exchanges to launch trading in bitcoin-related financial contracts, a watershed moment for the that could lead to greater regulatory scrutiny. Bitcoin, which had been trading at around $10,150 on the Luxembourg-based Bitstamp exchange before the news, jumped to as high as $10,513 in the 20 minutes that followed, leaving it up more than 5 per cent on the day. It has been a volatile week for the biggest and best-known On Wednesday, smashed through $10,000 before rocketing past $11,000 less than 12 hours later to an all time-high of $11,395, and then plunging around 20 per cent in the hours that followed.

First Published: Sat, December 02 2017. 02:18 IST