The price of Bitcoin has seen impressive gains in the last couple of weeks, breaking the $8,000 threshold yesterday and reaching a new more than 60-day high. The main reason for this so-called bull run has been an avalanche of good regulatory news for cryptocurrencies in general.

More specifically, at the time of writing the price of Bitcoin sits at around $8,300. This represents a substantial and rapid increase of 43.5% since Bitcoin’s year-low on May 24th, a mere two months ago.

However, the potential introduction of Bitcoin ETFs (exchange-traded funds) would dwarf any previous good news and supercharge the price of Bitcoin. A recent Forbes article suggested that the introduction of Bitcoin ETFs could very well boost the price of Bitcoin past $10,000, perhaps even past $20,000.

This comes as the US SEC is reportedly considering whether to approve a request to operate a Bitcoin ETF by the blockchain platform SolidX VanEck and the New York-based investment management firm VanEck.

If the US authority would indeed approve the creation of a Bitcoin exchange-traded fund, this would mark a major milestone for Bitcoin. ETFs could facilitate a huge influx of institutional capital to the cryptocurrency market.

Moreover, the US Securities and Exchange Commission needs to present its decision soon. It has already announced that it will delay a ruling relating to five other ETF applications filed by the fund provider Direxion.

The SEC argued that it ”needs more time to study” the request from Direxion, and has issued a special extension period which is limited to less than 60 days before it needs to arrive at a decision.

However, it is unclear how far along the SEC has come in its work on whether to approve or disapprove the request. In theory, it could release a decision on the matter any day.

Bitcoin ETFs would allow investors to invest in Bitcoin without the need for cryptocurrency exchanges, which are sometimes subject to murky regulations, lack of public trust, or suffer from hacking attacks.

Furthermore, this comes as Bitcoin and cryptocurrencies, in general, are seeing increased interest from institutional investors. The trading volume of Bitcoin futures has increased dramatically, and the $6.3 trillion asset management firm BlackRock is reportedly also eyeing Bitcoin futures.

It remains to be seen when the SEC arrives at a decision, and it is similarly hard to tell whether the current bullish market sentiment will prove lasting. However, the recent flood of good news, both Bitcoin-related and regarding cryptocurrencies in general, do seem promising.

Furthermore, the alluring prospect of one or several Bitcoin exchange-traded funds should have the mouth watering for even the most seasoned Bitcoin investor.

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