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kuangfengli76
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The approval of Bitcoin and Ethereum ETFs marked a milestone in mainstream cryptocurrency adoption. On January 10, 2024, the SEC approved the first spot Bitcoin ETF, followed by Ethereum ETF approval on May 23. Ethereum spot ETFs began trading on July 23. As of this year, spot Bitcoin ETFs have a net asset value of $105.08 billion (5.7% of Bitcoin's market cap), while Ethereum spot ETFs total $12.05 billion (2.94% of Ethereum's market cap). The Financial Innovation and Technology for the 21st Century Act (FIT21) clarified cryptocurrency classification and retained existing crypto custody accounting standards by opposing SAB 121. The Trump administration’s pro-innovation policies included appointing crypto advocates like Paul Atkins as SEC Chair, signaling strong industry support.
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