At the beginning of this year, the US Securities and Exchange Commission approved the Bitcoin spot ETF for the first time and authorized a total of 11 listed trading products. Subsequently, 9 Ethereum ETFs were approved for listing and trading in July. Since the approval of the Bitcoin spot ETF, a large amount of investment funds have continued to pour in, further driving up the price of Bitcoin. Large institutions such as BlackRock, Grayscale, and Fidelity have accumulated $58 billion worth of Ethereum smart contract ETFs.
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