Bitcoin Share of Crypto Market Highest Since 2021 Partly on ETFs

Bitcoin’s dominance of the crypto sector is at a three-year high, reflecting robust demand for US exchange-traded funds holding the largest digital asset as well as a rocky period for smaller tokens.

Bitcoin at the end of last week accounted for almost 55% of the $2.4 trillion market for virtual currencies, a level last seen in April 2021, according to CoinMarketCap data. The next largest by that metric are Ether, stablecoin Tether, the Binance exchange’s native token BNB, and Solana.

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The batch of three-month-old US spot ETFs from issuers including BlackRock Inc. and Fidelity ...