Bitcoin tops $60,000 for first time in six months as traders bet on ETF approval

Posted by Ryan Browne,

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Bitcoin climbed above $60,000 Friday, pushing the digital coin further toward its all-time high, as traders speculated U.S. regulators would clear the first bitcoin futures exchange-traded fund.

The world’s biggest cryptocurrency surged as high as $60,314, notching its highest level since Apr. 18. Bitcoin was last trading 4% higher in the last 24 hours, at a price of $59,945, according to Coin Metrics data.

Traders are optimistic about the chances of the U.S. Securities and Exchange Commission giving the green light to the first bitcoin futures exchange-traded fund, according to analysts.

The ProShares Bitcoin Strategy ETF is scheduled to debut at the New York Stock Exchange on Tuesday, and experts believe the SEC unlikely to object to the product…read more.