Bitcoin tops $60k again on ETF hopes

Bitcoin hit $60,000 for the first time in six months on Friday, nearing its alltime high, as hopes grew that US regulators would allow a futures-based exchange-traded fund (ETF), a move likely to open the path to wider investment in digital assets.

Cryptocurrency investors have been waiting for approval of the first US ETF for bitcoin, with bets on such a move fuelling its recent rally. The world’s biggest cryptocurrency rose 4.5% to its highest level since April 17, and was last at $59,290. It has risen by more than half since September 20 and closing in on its record high of $64,895 hit in April.

The US Securities and Exchange Commission (SEC) is set to allow the first US bitcoin futures ETF to be traded next week, Bloomberg reported on Thursday.