The cryptocurrency is growing in popularity thanks to growing enthusiasm for the first spot Bitcoin ETF in the US. Other tokens are also seeing a rise.

Bitcoin topped the $38,000 price level, kicking off the December trades. Digital currency OG rose 6.5% in November, following a strong 27% surge in October, also known as Uptober. Earlier today, Bitcoin hovered at an intraday high of $38,211 for the second straight session.

The token's price has reached higher highs over the past two months, boosted by excitement over the first spot bitcoin exchange-traded fund awaiting approval from US regulators. More than a dozen spot applications for the BTC ETF are currently pending before Gary Gensler, chairman of the Securities and Exchange Commission.

Elsewhere in cryptoland, Ethereum ETHUSD is on the cusp of breaking through a 19-month high, with prices hovering just below the $3,000 mark. Overall, the total value of the entire digital asset market is approaching $1.5 trillion, almost double what it was last year.