Progress in Crypto Legislation as Ethereum ETFs Set Records for Inflows and Trading Volume

According to Jinse Finance, as key cryptocurrency legislation backed by Trump makes progress, US exchange-traded funds tracking Ether have set records for both capital inflows and trading volume. After a sluggish start to the year, investors injected $727 million into these nine ETFs on Wednesday; at the same time, as Ether’s price surged, trading volume for these ETFs reached $2.6 billion. Open interest in Ether futures on the Chicago Mercantile Exchange also hit a new high, signaling growing institutional demand for the world’s second-largest cryptocurrency. Ether’s rally has further strengthened the momentum for cryptocurrency bulls. Since the November election, bulls have bet that a second Trump term would usher in a new era of relaxed crypto regulation, prompting significant inflows. Overall, their bets have paid off: on Monday, leading cryptocurrency Bitcoin soared to a record high of $123,205.