Key Takeaways Bitcoin hit a new record high of more than $111,800 around midnight ET Thursday, lifting shares of cryptocurrency-related firms.The digital asset hit the $110,000 mark for the first time Wednesday.

Crypto-related stocks rose early Thursday while stock futures were trading largely flat, after the world’s largest cryptocurrency Bitcoin hit a record high. Crypto exchanges Coinbase Global and Robinhood rose 2.

Bitcoin rose to its highest level on record on Wednesday, eclipsing the previous high from January, as risk sentiment continues to improve after last month's tariff-induced selloff.