(BTC) Bitcoin Price Advances as Optimism Builds About ETF Approval by SEC

Bitcoin recovered amid renewed speculation that the US securities regulator is getting close to approving an exchange-traded fund investing directly in the biggest token.

Bitcoin advanced as much as 2.1% and traded around $43,000 as of 12:10 p.m. in London, rebounding from Tuesday’s drop. Other major cryptocurrencies also gained. Bitcoin Cash, one of the early offshoots of the original digital currency, rallied as much as 14% after investors piled into an investment vehicle tracking the token.