This surge reflects growing interest in cryptocurrency ETFs, following the success of Bitcoin and Ethereum funds. Investors anticipate strong growth in the ETF sector, driven by innovation and increased investor confidence.

Bitcoin was supposed to boom under a crypto-friendly Trump administration, but prices have tumbled 25% since hitting an all-time high on Inauguration Day. The largest cryptocurrency slid to about $79,

Cryptocurrencies slid further as fears over a selloff in US equities eclipsed President Donald Trump’s recent efforts to buttress the industry.

That's a recent tally of market value across the cryptocurrency world from CoinMarketCap—down from a peak of $3.72 trillion on Dec. 17. The pullback shows how some of the euphoria stoked by the prospe