Institutional interest from U.S. investors has been particularly pronounced, driving the rally with significant trading activity concentrated during U.S. market hours. This shift is indicative of a larger trend of institutional adoption.

Cryptocurrency markets experienced a significant boost as people anticipated the approval of spot bitcoin exchange-traded funds (ETFs) by the US SEC.

ETFs are really passively managed Index Funds that are listed and traded on exchanges just like equities. ETFs strive to monitor the relevant index and reproduce its returns, whereas mutual funds aim to earn alpha by surpassing a market benchmark.