Market Recap: ETF Demand Surge Broadens Market Rally

Key takeaways for the month:

• February was a milestone month for digital assets, with Bitcoin breaching $1.2 trillion in total market cap and prices hitting multi-year highs. This was driven by large fund flows into U.S.-based spot Bitcoin ETFs, which helped propel the CME CF Bitcoin Real-Time Index (BRTA Index) above $63,000 before settling in the $61-62K range. Ether also made significant gains and even managed to outpace its larger peer.
• Positive price momentum was ubiquitous across the market, with the CF Free-Float Broad Cap Index returning +46.5% and the CF Diversified Large Cap Index returning +44.9%. The Ultra Cap 5 Index, representing mega-cap cryptocurrencies, led the pack by rising over 47%.
• Open interest continued to increase for Bitcoin and Ether futures, while Ether futures on the CME reached an all-time high of 6,749 contracts.
• The DeFi space also witnessed substantial growth, with the total value locked (TVL) in DeFi protocols surging from $102 billion to over $162 billion, largely driven by an increase in liquid staking and lending activities.

To read the complete report, kindly click on the provided link (or click here to view a PDF version). Additionally, please do not forget to subscribe to our latest news and research for the most relevant institutional insights on digital assets and the top digital assets by market cap.