Ether, the second-biggest cryptocurrency by market capitalisation after bitcoin, climbed to $4,372.35, eclipsing its previous record hit on Monday, and was last up 2%. Bitcoin was down a touch at $56,240.
The surge has also seen ether - which in the crypto world is also widely referred to as ethereum - outperform bitcoin, which has almost doubled in price this year as larger investors warm to the emerging technology.U.S. bank J.P. Morgan on Wednesday said the pace of evolution in the ethereum market has "remained rapid" and that there was still room for growth.
"Effectively, once Bitcoin futures became more accepted among institutional investors, they became more comfortable with cryptocurrencies paving the way for a more rapid acceptance of ethereum futures," J.P. Morgan said.over the risks of bitcoin futures in mutual fund investments. In a statement, the Securities and Exchange Commission said bitcoin was a highly speculative market that lacked regulation.
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