As the rally continues, the price of Bitcoin has surpassed $40,000.

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According to , it is now worth more than $40,000 for the first time since April 2022, following a price rise of nearly 9% since November 27. The Block’s pricing page. The rest of the cryptocurrency market has also rebounded in recent days, with the overall market capitalization of cryptocurrencies up 1% the previous day.

Bitcoin’s recent rise has been fueled by industry-wide expectations for a spot Bitcoin ETF that trades Bitcoin at real-time prices, widely expected to be approved in the coming months. Analysts said the SEC’s recent request for public input could show that the agency is on an accelerated timeline when it comes to approving a Bitcoin ETF.

Despite filings from major asset managers including BlackRock, Fidelity, 21Shares & Ark Invest, Bitwise, VanEck, Wisdomtree, Invesco, Valkyrie, Global X, Hashdex and Franklin Templeton, the SEC has yet to approve a Bitcoin ETF. Swiss asset manager Pando Asset was the latest company to file a Form S-1 with the SEC seeking approval for a spot Bitcoin ETF.

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