•Bitcoin surges to a record in response to the announcement from the world's largest futures exchange.
•The growth of bitcoin derivatives is also another step toward the development of the digital currency as a more established asset class.

CME announced Tuesday it plans to launch bitcoin futures in the fourth quarter, pending regulatory review.

Bitcoin rose to a record high above $6,400 Tuesday morning, according to CoinDesk, after the announcement by the world's largest futures exchange.