Bitcoin Exceeds $60,000 On Us Fund Approval Hopes

Bitcoin has Exceeded the $60,000 mark for the first time since April on growing optimism that American regulators will greenlight the first US futures exchange-traded fund for the cryptocurrency.

Numerous investing firms, including ProShares, Invesco, VanEck and Galaxy Digital, have filed with the SEC for bitcoin futures ETFs.

Another ETF firm, Valkyrie, has also filed for a bitcoin ETF. On Friday, the Nasdaq announced in a SEC filing that the Valkyrie fund was ready for listing on the exchange — pending a final approval from the SEC.

Bitcoin ETFs are a way for individual investors that don’t want to go through the trouble of mining -— i.e. using fancy hardware to solve complex mathematical problems that generate a new bitcoin — to access other ways to buy and sell the cryptocurrency.

The ETF would add to an eventful year for the world’s leading cryptocurrency, which hit a record high at $64,870 in April and became a legal tender in El Salvador, the first country to adopt it officially.