Crypto legislation makes progress, Ethereum ETF sets record for capital inflow and trading volume

According to HT's report, as the cryptocurrency legislation supported by Trump makes progress, the US exchange-traded funds tracking Ethereum have set records for capital inflows and trading volume. After a sluggish start to the year, investors injected $727 million into these 9 ETFs on Wednesday; meanwhile, as Ethereum's price rises, the trading volume of these ETFs reached $2.6 billion. The number of outstanding Ethereum futures contracts at the Chicago Mercantile Exchange also hit a new high, indicating that institutional demand for this second-largest cryptocurrency is increasing. Ethereum's rise further strengthens the momentum of crypto bulls. Since the November election, bulls have bet that Trump's potential second term would usher in a new era of relaxed cryptocurrency regulation, and have entered the market accordingly. Overall, their bet has been rewarded: the mainstream cryptocurrency Bitcoin soared to a historic high of $123,205 on Monday.