The aggregate value of all cryptocurrencies hit a record high of around $184 billion on Wednesday, according to industry website Coinmarketcap, making their reported market value worth around the same as that of Goldman Sachs (NYSE: GS) and Morgan Stanley (NYSE: MS) combined, Reuters reported.
The development comes after Bitcoin (EXANTE: Bitcoin) hit a record high of more than $6,500, which took its own market cap to a record high just shy of $110 billion.
The surge was driven by news on Tuesday that CME Group (NASDAQ: CME), the world's largest derivative exchange operator, would launch Bitcoin futures in the fourth quarter of the year.
The second-most valuable cryptocurrency Ethereum (ETH/USD) was trading slightly down on the day at $302 per coin, having hit a record high of more than $410 in June.
Bitcoin has seen an eye-watering increase of almost 800% in the past 12 months.