Bitcoin prices rose to a two-year high on Monday, surpassing the $68,000 mark, as a wave of funding pushed the price to record levels. The price of Bitcoin hit an intraday high of $68,580 and was last at $68,161. Bitcoin hit a record of $68,999.99 per coin in November 2021.

The largest cryptocurrency by market capitalization has gained 50% this year, with much of the gains coming in the past few weeks when inflows into U.S.-listed Bitcoin funds surged.

Earlier this year, a Bitcoin spot exchange-traded fund was approved in the United States. Its launch opened the way for new large-scale investors and reignited enthusiasm and momentum in the market, level.

Marcus Thielen, head of research at 10x Research, a Singapore-based cryptocurrency analysis agency, said: “Funds have not dried up as investors are becoming more confident in price increases.”