Bitcoin has surpassed $41,000 for the first time since April 2022. What’s behind the price surge?

NEW YORK (AP) — Bitcoin is once again having a moment. On Monday, the world’s largest cryptocurrency soared past $41,000 for the first time in over a year and a half — and marking a 150% rise so far this year. The recent rally for volatile bitcoin coincides with the prospect of exchange-traded funds being launched based on spot bitcoin. Industry advocates say that could make entering the cryptoverse easier, while lowering some of the well-documented risks associated with investing in cryptocurrencies. A green light from federal regulators hasn’t arrived yet. But recent wins for some crypto fund managers with their applications for bitcoin ETFs have improved odds that approval could be down the road, and perhaps as soon as next month. Still, much remains uncertain.