Stock Market News Today: Dow Opens Higher; Bitcoin Price Nears $37,000

Cryptocurrencies gained on expectations U.S. regulators are moving to approve a bitcoin exchange-traded fund. The runup extends a rally that began in October, and which many attribute to bets that the Securities and Exchange Commission will approve ETFs that directly hold bitcoin, known as spot bitcoin ETFs.

For now, these investment vehicles are only allowed to hold bitcoin futures. CoinDesk reported late Wednesday that the SEC began talks with one applicant, Grayscale Investments. Bitcoin recently traded at about $36,860, according to CoinDesk, up 3.6% from late Wednesday. The token has risen more than 35% over the past month and more than doubled in value so far this year. Ether also rose.

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