reuters.com
Dec 3 (Reuters) - Bitcoin hit $40,085 on Sunday, its highest in almost a year and a half, fuelled by bets that U.S. regulators will soon approve stock-market traded bitcoin funds.
Bitcoin was up 1.55% at 2234 GMT, adding $611 to its previous close.
Bitcoin, the world's biggest and best-known cryptocurrency, is up 51.1% from the year's low of $26,533 on Oct. 11.
Bitcoin has more than doubled in price so far this year, recovering to its levels prior to the May 2022 meltdown of the so-called stablecoin terraUSD and its sister token. Their downfall caused havoc in crypto markets and sparked the bankruptcy of some high-profile companies in the crypto sector.
Bitcoin is still down from its record high of $69,000, scaled in November 2021. It has so far failed to make a breakthrough to mainstream commerce, long predicted by backers, and most large investors and companies remain wary of it as an investment.
Ether , the coin linked to the ethereum blockchain network, rose 2.07% to $2,210.70 on Sunday, adding $44.90 to its previous close.