Bitcoin and ether prices rose on Monday afternoon in Asia as Hong Kong gave preliminary approval to local spot crypto exchange-traded fund applications. The price of bitcoin rose 2.8% to $66,425, while ether gained 5.2% to $3,252 in the past 24 hours as of 4:15 p.m. in Hong Kong, according to The Block's price page.

The two largest cryptocurrencies and most other tokens recovered after Iran’s drone attack on Israel triggered a mass selling of crypto assets over the weekend. Bitcoin briefly fell below $62,000, while ether also dropped below $3,000 momentarily.

Meanwhile, the GMCI 30, which measures the performance of a selection of the top 30 cryptocurrencies, gained 4.6% in the last 24 hours.