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Bitcoin, Ethereum Lead $1.57 Billion Surge After U.S Greenlights Crypto in 401(k) Plans
In a stunning turnaround, the digital asset investment market has witnessed a monumental rebound, drawing in an astonishing $572 million in new investments last week. This surge is largely attributed to the upward momentum of Bitcoin and Ethereum, as well as the groundbreaking news that the U.S government will permit cryptocurrency investments in 401(k) plans.
The market’s remarkable recovery was fueled by Bitcoin’s price gains, which have been a significant driver of investor enthusiasm. Meanwhile, Ethereum’s price also showed notable appreciation, with it reaching a new high of $4,000 for the first time since December 2024.
The data reveals that institutional investors have taken notice of these developments and have begun to pour in their funds into the market. This trend marks a significant shift from the subdued performance observed during the mid-year period, as outflows from digital asset investment products had reached $1 billion.
Source: ambcrypto.com
