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

According to Foresight News, as key cryptocurrency legislation supported by Trump makes progress, US exchange traded funds tracking Ethereum have set records for capital inflows and trading volumes. After a sluggish performance at the beginning of the year, investors injected $727 million into these 9 ETFs on Wednesday; Meanwhile, as the price of Ethereum rises, the trading volume of these ETFs reaches $2.6 billion. The open interest contracts for Ethereum futures on the Chicago Mercantile Exchange also hit a new high, indicating that institutional demand for this second largest cryptocurrency is increasing in the market. The rise of Ethereum has further strengthened the bullish momentum of cryptocurrency. Since the November election, bulls have been betting that Trump's second term will usher in a new era of loose cryptocurrency regulation and have therefore entered the market in large numbers. Overall, their bets paid off: the mainstream cryptocurrency Bitcoin surged to a historic high of $123205 on Monday.