Bitcoin (BTC) soared past $37,000 for the first time in 18 months on Nov. 9, fueled by optimism over the potential approval of spot BTC exchange-traded funds (ETF) in the United States. BTC/USD reached $37,073 before retracing, while Bitcoin Futures traded over $37,000, hitting $37,450 at one point. The U.S. Securities and Exchange Commission (SEC) has until Nov. 17 to approve 12 separate spot Bitcoin ETFs from prominent U.S. fund managers. However, analysts predict a lag time of a month or more before these offerings launch. Grayscale, the largest U.S. cryptocurrency asset manager, is also in talks with the SEC to convert its Grayscale Bitcoin Trust to a spot Bitcoin ETF.