The cryptocurrency market is experiencing a slight pullback following Bitcoin’s recent record highs, but attention is shifting toward Ethereum. After reaching an all-time high above $123,000, Bitcoin (BTC) has retreated to $116,000 since Monday, while Bitcoin Spot ETFs remain stable with $154 billion in assets under management. In contrast, BlackRock’s Ethereum ETF (ETHA) has seen explosive growth, reaching $10 billion in assets in record time. This surge has been fueled by a 46% rebound in Ether’s price in July and a recent statement by SEC Chairman Paul Atkins, who clarified that Ether should be classified as a commodity, like Bitcoin, rather than a security.
Latest developments:
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Bitcoin pulls back to $116,000 after hitting an all-time high above $123,000.
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Bitcoin Spot ETFs remain stable with $154 billion in assets under management.
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BlackRock’s Ethereum ETF (ETHA) hits $10 billion, doubling its assets in just 10 days.
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Ethereum now accounts for nearly 50% of U.S. spot Ethereum ETF assets (totaling $20.7 billion).
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Major regulatory clarification: Ether officially recognized as a commodity by the SEC Chairman, boosting investor confidence.
Analyst recommendations:
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Caution in the short term on Bitcoin following recent volatility.
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Bullish positioning on Ethereum, supported by a clearer regulatory framework and increasing institutional adoption through ETFs.
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Close monitoring of ETF inflows, which remain a key indicator of institutional investor sentiment.