Cryptocurrency s rallying at once, with Bitcoin prices soaring nearly 5% on expectations of Bitcoin Exchange Traded Fund (ETF) and surpassing $58,000.
Bitcoin is recording $58,012 on Coinmarketcap, a global coin market broadcasting site, as of 2 p.m. on the 14th (GMT+8), up 4.85% from 24 hours ago. Bitcoin rose to $58,478 a few minutes ago.
As a result, Bitcoin has only about $7,000 left at an all-time high ($65,000).
Bitcoin is soaring on the same day due to expectations for Bitcoin ETF. The market expects the Securities and Exchange Commission (SEC), a U.S. securities regulator, to approveas the ETF within weeks.
Bloomberg recently reported that the ETF could be approved as early as this month. Bloomberg said four ETF will be specifically approved.
“We are quite optimistic about Bitcoin ETF approval,” said James Saypart, an ETF analyst at Bloomberg Intelligence.
He added, “It makes no sense for SEC Chairman Gary Gensler to reject Bitcoin ETF less than a month after making positive comments on Bitcoin ETF at a recent parliamentary hearing,” he added.
Not only Bitcoin but also other cryptocurrencies are soaring at once. Ethereum, ranked second in market capitalization, jumped 5.10 percent from 24 hours ago to $3,641.