Investing.com – Bitcoin rose on Monday, a day after it made its debut on the Chicago-based derivatives CBOE exchange amid signs of robust investor demand, while bitcoin cash added to recent gains.
On the U.S.-based Bitfinex exchange, bitcoin rose to $16,475, up $1495, or 9.98% after hitting an all-time high of $17,160 on Friday. The popular digital currency market cap rose to $279.89 billion.
Bitcoin futures remained well supported after its debut Sunday on the CBOE got underway to a bright start, as it surged to a high of $18,700 before pairing gains. The launch bitcoin futures on the CBOE comes a week ahead of CME Group’s launch of bitcoin futures slated for Dec. 18.
The launch of futures trading has drawn a mixed reaction from investors, as it provides market participants with the option to place bearish bets on bitcoin, which could pressure the price of digital currency. Other market participants believe, however, that the launch of futures paves the way for bitcoin to become an established asset class, which would spur institutional demand.
The positive sentiment on bitcoin poured into other areas of the crypto-market, as bitcoin cash rose 9.95% to $1,419.90, while bitcoin gold rose 11.16% to $244.65.
Ethereum, the second largest cryptocurrency by market cap, rose 9.18% to $470.55.