Bitcoin came within $3 of its all-time high on Thursday as expectations mounted that the Securities and Exchange Commission could soon authorize the creation of the first bitcoin exchange-traded fund.

The price of a single coin rose as high as $1,163.59 on Thursday, according to CoinDesk’s bitcoin price index, which incorporates pricing data from some of the world’s largest digital-currency exchanges.

Bitcoin BTCUSD, +0.43% reached an all-time high of $1,165.89 Nov. 30, 2013, according to CoinDesk, though it traded as high as $1,242 on certain exchanges.

Some media outlets, including Business Insider, reported that the digital currency had, in fact, reached its all-time high. This is largely due to discrepancies on pricing data provided by various exchanges.

There are more than 50 bitcoin exchanges, each operating more or less independently, said Charles Hayter, founder and chief executive officer at CryptoCompare. Prices across exchanges, and across currencies, are rarely uniform, he said.

Chris Burniske, Blockchain Analyst and products lead at ARK Invest, said coins purchased in yuan on certain Chinese exchanges were trading at a significant discount to their relative value in U.S. dollars.

The SEC is expected to deliver a decision on the proposed Winklevoss Bitcoin Trust by March 11. Two other bitcoin-focused ETFs are also under consideration.

Though some have speculated that the path to a bitcoin ETF may be easier under the administration of President Donald Trump, Spencer Bogart, a bitcoin analyst at Needham and Co., believes chances of approval are less than 1-in-4.

However, if an ETF is approved, Bogart expects the price to soar as institutional investors rush to gain exposure to the cryptocurrency, which was first launched in January 2009.

