Ether emerges as winner after crypto’s ‘watershed moment’: Bitwise
Bitwise analysts have identified a significant boost for Ether (ETH) amid a pro-crypto US government initiative and strong institutional interest. Last week, new US laws such as the Genius Act and Clarity Act provided regulatory clarity that is expected to enhance ETH's role in tokenization and stablecoins, with an influx of institutional capital potentially driving ETH staking ETFs to add $20-30 billion annually. The ETH/BTC ratio surged by 27%, suggesting a market shift towards ETH and altcoins. Bitwise highlights that the Ethereum network captures about 50% of the stablecoin market and is positioned for further product innovation. Notable institutional movements include Bit Digital's purchase of over 100,000 ETH and increased positions from various organizations. With the launch of ETH staking ETFs on the horizon, optimism grows that Ether may mirror Bitcoin in becoming a Store of Value, underpinned by a strong staking yield and essential institutional acquisitions.
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