Bitcoin Price Spikes Amid Speculation About ETF Regulatory Approval

The price of the largest cryptocurrency by market cap has seen a spike amid speculation a Bitcoin ETF could soon be approved to appear on the stock exchange.

A Bitcion mock-up on Jan. 12, 2022. John Fredricks/The Epoch Times

Bitcoin’s price has surpassed $35,000 for the first time since May 2022, amid speculation that investment company BlackRock’s proposed iShares spot Bitcoin exchange-traded fund (ETF) could be close to receiving regulatory approval.

A Bitcoin ETF is an exchange traded fund that invests primarily in assets related to the digital currency’s price and sells shares to investors on a traditional exchange. An ETF would mean people could invest in cryptocurrency without owning any.