Digital currency ethereum jumps to record high

Updates prices, adds detail

April 27 (Reuters)Ethereum ETH=BTSP, the world’s second largest crypto currency after Bitcoin BTC=BTSP, on Tuesday rose to a record high of $2,683.65 on the Bitstamp Exchange.

Ether was last up 4.32% at $2,644.07. Bitcoin, was last up 1.68% at $54,984.31 but still more than 15% below its record high at 64,895.22 set on April 14.

On Monday, the digital currencies got a boost from reports that JPMorgan Chase JPM.N is planning to offer a managed bitcoin fund, the latest indication that what is considered by many a speculative investment is gaining institutional legitimacy.

On March 1 Goldman Sachs restarted its cryptocurrency trading desk, just weeks after Tesla Inc TSLA.O announced it had purchased $1.5 billion in bitcoin, sparking a rally.

But cryptos hit some resistance after U.S. President Joe Biden unveiled plans to raise capital gains taxes, a move which could curb investment in the digital assets.

(Reporting by Stephen Culp and Kevin Buckland; Editing by Aurora Ellis)

((stephen.culp@thomsonreuters.com; 646-223-6076; alden. bentley@thomsonreuters.com; 646-281-6041;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.