The value of all listed cryptocurrencies surged past $4 trillion for the first time on 18 July, cementing the asset class’s latest bull run. Bitcoin, which briefly hit a record $123,205 earlier in the week, traded near $119,000 and accounts for roughly $2.4 trillion of the total. Ether added 22 % over five days to about $3,600, while XRP reached a fresh high of $3.55 amid broad-based gains in altcoins. Institutional demand is accelerating. U.S. spot Bitcoin exchange-traded funds attracted about $523 million of net subscriptions on Thursday, pushing two-week inflows above $4 billion. Ether funds posted a single-day record of $727 million and have absorbed more than $1 billion in the past four sessions. Combined flows into Bitcoin and Ether products now top $8.4 billion, helping to reduce Bitcoin’s share of overall market value to just under 60 % as investors rotate into alternative tokens. Regulatory developments in Washington added momentum. During a self-styled “Crypto Week,” the House of Representatives approved the GENIUS Act, which creates the first federal framework for stablecoin issuers; the CLARITY Act, setting out oversight of digital commodities; and the Anti-CBDC Act, barring the Federal Reserve from issuing a retail central-bank digital currency. The measures, backed by President Donald Trump, now move to the Senate or the president’s desk and are viewed by market participants as a watershed for mainstream adoption.