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Institutional adoption and legislative optimism boost cryptocurrencies
These achievements come amid increasing demand from institutional investors to transfer Bitcoin to treasury wallets and ETF funds.
Earlier this year, the Trump administration approved a strategic reserve for Bitcoin, which sparked a positive regulatory tone.
Moreover, Trump Media & Technology Group (NASDAQ:DJT) recently submitted a request for regulatory approvals to launch a new "leading cryptocurrency ETF" later this year. The company has already filed for two ETFs earlier this month.
Looking ahead, investors are also focused on "Cryptocurrency Week" starting July 14, when U.S. lawmakers in Washington are expected to push at least three major bills aimed at regulating digital assets.
Cryptocurrency stocks rise after Bitcoin surge
Shares of cryptocurrency-related companies rose after the market opened on Friday with Bitcoin hitting new record levels.
In Europe, Blockchain Group (EPA:ALTBG), which is also building a Bitcoin treasury, jumped nearly 10%.
Shares of Bitcoin mining companies saw notable gains in pre-market trading. Marathon Digital Holdings Inc (NASDAQ:MARA) rose by 1.7%, and HIVE Digital Technologies Ltd (NASDAQ:HIVE) advanced by 3.7%.