Bitcoin Rises Towards $60,000

Bitcoin rose to nearly $60,000 on Friday, reaching its highest level in months. The value of the world’s best-known digital currency is bolstered by hopes that US authorities will authorize the launch of an exchange-traded fund (ETF) based on bitcoin.

An ETF also called a tracker, follows the price of an index, in this case, Bitcoin. This would make the crypto coin accessible to more investors.

Bitcoin rose to more than $59,000, according to CoinMarketCap, which tracks the prices of digital currencies. This brings the record level of almost $ 65,000 that was reached in April back into view. The price of bitcoin has been on the rise in recent weeks, having previously fallen below $40,000.

The US stock market regulator Securities and Exchange Commission (SEC), is said to be about to approve trading in the bitcoin ETF early next week. As a result, it would become the first crypto ETF in the United States.