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Bitcoin, Ethereum Lead $1.57 Billion Surge After U.S Greenlights Crypto in 401(k) Plans
A sudden and unexpected surge in the digital asset market has sent shockwaves throughout the financial community. A staggering $572 million rebound was witnessed last week, with Bitcoin and Ethereum at the forefront of this monumental shift.
The sudden turnaround came after a tumultuous period that saw $1 billion in outflows from the market earlier in the week. The catalyst behind this dramatic shift is believed to be the approval granted by U.S regulators for digital assets to be included in 401(k) plans, resulting in a whopping $1.57 billion influx of capital over just a few short days.
Bitcoin and Ethereum, two of the most prominent assets in the market, have emerged as clear winners from this unexpected turn of events. Bitcoin [BTC] saw an impressive climb in its price, while Ethereum [ETH] reached new heights by surpassing $4,000 for the first time since December 2024.
In addition to these top-performing assets, other digital currencies also received significant inflows. Solana [SOL] and XRP secured $21.8 million and $18.4 million respectively, while NEAR saw an influx of fresh capital worth $10.1 million.
These trends collectively indicate a persistent interest from investors in layer-1 ecosystems as well as cross-border payment solutions, despite the overall trading volumes being muted throughout the summer period.
CoinShares’ Head of Research has linked this surge to the aforementioned regulatory announcement and the subsequent impact on investor sentiment.
Source: ambcrypto.com
