President Joe Biden vetoed a bill to overturn SAB 121 and launched cryptocurrencies into the political arena. 

But how did we get here? 

And where do we go?

• Ethereum is difficult to explain to investment professionals whose day job isn’t crypto.
• Large-scale asset allocators like pension funds hold trillions in potential value for ETFs.

Institutions have arrived in crypto trading but it will take time to develop a diverse array of market participants and execution protocols.

• Bitcoin's Halving Sparks Price Surge: What Lies Ahead for Crypto Investors
• Ethereum ETF Speculation and Layer-2 Surge: Catalysts Behind ETH's Rollercoaster Ride
• Traditional Markets Rattled by Inflation: Crypto's Volatility in the Storm of Economic Uncertainty

Integration with TP ICAP’s Fusion Digital Assets adds a new source of differentiated institutional liquidity to the Talos network

• Euphoria at new Bitcoin all-time-highs remains short lived as price collapsed over 15% just days after, due to a shifting macro outlook and growing ETF outflows.
• Dencun upgrade goes live on Ethereum, allowing for cheaper transactions across layer 2's. This bullish catalyst falls short in terms of realised price movement as hope for an imminent approval on a spot ETH ETF dwindles.
• Solana has continued to outperform across this period, retracing less than most other altcoin's and actually rallying compared to Ether, as memecoin mania drives further retail attention to the Solana ecosystem.

CME Group, the world's leading derivatives marketplace, today announced it plans to further expand its cryptocurrency derivatives offering with the addition of Micro Bitcoin Euro and Micro Ether Euro futures on March 18, pending regulatory review.

• The market for Bitcoin chops; initially falling ~20% post US spot ETF approval before rallying back over 35% to reclaim the $50k level not seen since 2021.
• Redemptions of Grayscale's GBTC seem to be at least partially responsible for the sell off, despite net positive inflows for the ETFs as a whole.
• Excitement continues to brew around the possibility of an Ethereum spot ETF in the coming months, despite Gensler stressing that this recent approval was specific to Bitcoin only. 

FalconX, the world's largest institutional digital asset prime broker, announces integration with Fusion Digital Assets, TP ICAP's FCA-registered UK cryptoasset exchange

• After over 10 years since the first application, the US SEC approves the first spot Bitcoin ETF for trading on 11th Jan. 
• Ethereum sees increased flows and price action as the market looks to capitalise on ETHs underperformance in light of ETF speculation. 
• TradFi moves further into the weeds of crypto, seeing institutions mining, minting stablecoins and tokenising funds.