Ether emerges as winner after crypto’s ‘watershed moment’: Bitwise
Main Idea
Ether (ETH) emerged as a top performer in the crypto market due to pro-crypto US government actions, institutional demand, and expectations around ETH staking ETFs, with analysts highlighting its potential as a store of value and its role in tokenization and TradFi integration.
Key Points
1. ETH was the top performer last week, with the ETH/BTC ratio surging 27%, signaling a capital shift toward altcoins.
2. Pro-crypto US legislation, including the Genius Act and Clarity Act, provided regulatory clarity, boosting ETH's position.
3. The Ethereum network hosts 50% of the stablecoin market cap ($140 billion) and 55% of tokenized asset value, reinforcing its utility.
4. Institutional demand for ETH surged, with Ether ETPs recording $2.1 billion in inflows and major firms increasing their ETH holdings.
5. ETH staking ETFs are expected to attract $20–30 billion yearly, with 51 institutions already holding 1.26% of ETH's supply in staked assets.
Description
A pro-crypto US government, near-insatiable institutional investor demand, and the chance for ETH staking ETFs made ETH a top performer last week.
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