Bitcoin above $30K after 10 weeks with ETF approval hopes

By Ovunc Kutlu

ISTANBUL (AA) - Bitcoin saw its price climbing over $30,000 level on Friday for the first time in more than 10 weeks with hopes that exchange-traded funds (ETFs) would get approval.

The price of the world's biggest cryptocurrency climbed to as high as $30,166 for a daily gain of over 3%, marking its highest level since Aug. 8.

Ethereum, the world's biggest altcoin by market value, also rose more than 3% to as much as $1,629.

Some altcoins saw their prices soar over 25% in the past 24 hours, according to data from the digital asset price-tracking website, CoinMarketCap.

Crypto investors are hoping that the Securities and Exchange Commission (SEC) would give regulatory approvals to ETFs.

The SEC said last week it will not appeal a court ruling, after the US market watchdog initially rejected Grayscale Investments' application to create a spot ETF for Bitcoin.

Many crypto-related investment firms submitting their ETF requests have also been driving the recent optimism in cryptocurrencies.

The total value of the crypto market was up 2.43% to $1.12 trillion as of 12.14 p.m. EDT, according to CoinMarketCap.