Crypto legislation makes progress, Ethereum ETF sets record inflows and trading volume

Foresight News According to Kingshin, as Trump-backed key cryptocurrency legislation progresses, U.S. exchange-traded funds tracking Ether set records of inflows and trading volume. Investors injected $727 million into the nine ETFs on Wednesday after a sluggish performance at the beginning of the year; meanwhile, trading volumes of these ETFs reached $2.6 billion as Ether prices rose. The Chicago Mercantile Exchange's Ether futures open contract also hit a new high, a sign that institutional demand for the second-largest cryptocurrency is increasing. The rise in Ethereum further strengthened the momentum of cryptocurrency bulls. Since the November election, bulls have bet that Trump's second term will usher in a new era of loose cryptocurrency regulation and have entered the market in large numbers. Overall, their bets paid off: the mainstream cryptocurrency Bitcoin surged to an all-time high of $123,205 on Monday.
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