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Digital currency bitcoin on Thursday hit its highest levels in more than three years and was $3 short of an all-time peak.
This gain follows speculation that the first bitcoin exchange-traded fund (ETF) is set to receive approval from the U.S. financial regulator.
Traditional financial players have largely shunned the web-based "cryptocurrency", terming it as too volatile, complicated and risky, and therefore doubting its inherent value.
Having already risen about 17 percent this year, it added 3 percent more on the day to hit $1,160 per bitcoin on Europe's Bitstamp exchange, just shy of an all-time high of $1,163 reached in November 2013.
Some analysts say regulatory approval of a bitcoin ETF would make the currency relatively attractive to the often more cautious institutional investor market.
Three ETFs that track the value of bitcoin have been filed with the U.S. Securities and Exchange Commission for approval.
The SEC will decide by March 11 whether to approve one filed almost four years ago by Cameron and Tyler Winklevoss. If approved, it would be the first bitcoin ETF issued and regulated by a U.S. entity.
Reuters
This gain follows speculation that the first bitcoin exchange-traded fund (ETF) is set to receive approval from the U.S. financial regulator.
Traditional financial players have largely shunned the web-based "cryptocurrency", terming it as too volatile, complicated and risky, and therefore doubting its inherent value.
Having already risen about 17 percent this year, it added 3 percent more on the day to hit $1,160 per bitcoin on Europe's Bitstamp exchange, just shy of an all-time high of $1,163 reached in November 2013.
Some analysts say regulatory approval of a bitcoin ETF would make the currency relatively attractive to the often more cautious institutional investor market.
Three ETFs that track the value of bitcoin have been filed with the U.S. Securities and Exchange Commission for approval.
The SEC will decide by March 11 whether to approve one filed almost four years ago by Cameron and Tyler Winklevoss. If approved, it would be the first bitcoin ETF issued and regulated by a U.S. entity.
Reuters
