The Daily: Bitcoin tops $94K, crypto mining stocks rally, Grayscale begins distributing staking rewards to Ethereum ETF investors, and more

TL;DR:

The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.

Key Points:

Background:

Exchange-Traded Funds (ETFs) are investment vehicles that track cryptocurrency prices and trade on traditional stock exchanges. Bitcoin and Ethereum ETF approvals have been major milestones for crypto adoption, allowing institutional and retail investors to gain exposure without directly holding digital assets.

Why It Matters:

ETF approvals are significant because they provide regulated access to cryptocurrency investments for traditional finance investors, potentially bringing billions in new capital to the crypto market. They also signal regulatory acceptance and legitimization of digital assets as an investment class.