Cryptocurrency Market Continues to Expand
According to CoinDesk, data site OnChainFX reports that each of the top 20 cryptocurrencies by market capitalization hit a record high recently.
The price of Ripple's XRP token, the fourth largest cryptocurrency by market capitalization, has passed a dollar for the first time last Thursday. According to Coinmarketcap, XRP surged 46 percent to $1.13 during Thursday's trading session. It now has a market capitalization of over 43 billion.
According to CNBC, the New York Stock Exchange has submitted the application with the U.S Securities and Exchange Commission to list two Bitcoin-back exchange-traded funds. They are the ProShares Bitcoin ETF and the ProShares Short Bitcoin ETF.
The cryptocurrency is getting closer to mainstream as CME and Cboe both started bitcoin futures trading in the last two weeks. Barry Silbert, founder and CEO of Digital Currency Group, said on CNBC's "Squawk Box" earlier this month: "I think it is going to enable finally the approval of bitcoin ETFs, and other digital currency ETFs, which is game changing."
