The approval by US market regulators in January of so-called exchange-traded funds (ETFs) in bitcoin made investing in the coin and other cryptocurrencies much easier. With ETFs, investors can profit from price movements by buying shares without owning bitcoin directly. Huge amounts of money have flowed into such ETFs, indicating that mainly institutional investors have been driving this price surge.
Trump has declared himself to be the 'crypto president' who will 'lead the US to a pioneering role in bitcoin.' Such promises have been made so far only by presidents of smaller countries, highlighting a significant shift in the US cryptocurrency landscape.
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