Investors rushed to open new accounts for buying and selling bitcoin after news that the world's largest futures exchange plans to launch futures for the digital currency this year.
About 100,000 new users joined Coinbase a day after the Tuesday announcement, according to public data compiled by Alistair Milne, co-founder and chief investment officer of Altana Digital Currency Fund.
Coinbase is the largest bitcoin exchange in the U.S. and one of the most popular ways to buy and sell digital currencies bitcoin, ethereum and litecoin. The company now has 11.9 million users, according to its website.
Source: Alistair Milne, Coinbase
In another step toward bitcoin's development as a more established asset class, CME announced Tuesday that it plans to launch bitcoin futures by the end of the year. Once the futures launch, many large investors restricted from directly purchasing bitcoin will be able to buy into the digital currency trend.
Bitcoin surged to records after the CME news and hit an all-time high of $7,454.04 on Friday, according to CoinDesk.