BTC steadied around the $69k mark, while the market structure looks poised for another leg up towards all-time highs it reached almost 3 months back. ETH also has found its base at $3800 and with ETH ETF trading expected to start in late June, there’s not much selling pressure expected either.
For BTC, more institutions look to hold positions in the largest crypto. For instance, the state of Wisconsin which has invested a small portion of its pension fund in BTC, is expected to increase exposure through the spot bitcoin ETF product. Currently, the exposure stands at 0.1% of its $156 billion in assets.
