Bitcoin hits record high above $1,200 after rumors of exchange fund approval

(Reuters) — Digital currency bitcoin jumped to a record high above $1,200 on Friday, as investors speculated the first bitcoin exchange-traded fund (ETF) to be issued in the United States is set to receive regulatory approval.
Traditional financial players have largely shunned the web-based “crytpocurrency”, viewing it as too volatile, complicated and risky, and doubting its inherent value.
But bitcoin, invented in 2008, performed better than any other currency in every year si