Crypto Stocks Rally On Report Bitcoin ETF Regulatory Approvals Could Arrive This Week

Bitcoin and crypto stocks rebounded Thursday on a report by Fox Business late Wednesday that federal regulators could issue spot bitcoin ETF approvals as soon as Friday, ahead of the expected deadline of Jan. 10.

The bitcoin price, which fell 4.7% to $42,952.22 Wednesday, increased more than 3% Thursday to 44,163. This comes after bitcoin rose above $45,000 on Tuesday, the first time the cryptocurrency has topped that level since April 2022.

At the end of 2023, bitcoin was trading at 20-month highs around $43,000, surging from $27,000 at the end of September. The world's largest cryptocurrency rebounded 158% in 2023.