Cryptocurrency-focused stocks are on the rise after Bitcoin (BTC-USD) reaches its highest levels since April 2022.

On Tuesday, Bitcoin (BTC-USD) surged to a peak of $45.5K, reflecting an almost 7% increase.

The anticipation of the U.S. Securities and Exchange Commission granting approval for a spot Bitcoin ETF as early as January 10 is fueling this rally.

Notably, Coinbase (NASDAQ:COIN) shares rose by 3%, MicroStrategy (NASDAQ:MSTR) saw an 8% increase, Riot Platforms (NASDAQ:RIOT) surged by 9%, CleanSpark (NASDAQ:CLSK) climbed by 11%, and Marathon Digital (NASDAQ:MARA) soared by over 12%, respectively. Additionally, Bitfarms (NASDAQ:BITF) witnessed a notable 11% increase, HIVE Digital (NASDAQ:HIVE) rose by 12%, TeraWulf (NASDAQ:WULF) jumped by 17%, and Bit Digital (NASDAQ:BTBT) recorded a 9.7% gain.

Concurrently, other major cryptocurrencies are also seeing positive movement, with Ethereum (ETH-USD), the leading altcoin by market cap, rising by 4% to $2.4K, followed by a 3% growth in Dogecoin USD (DOGE-USD).