Bitcoin Nears All-Time High at $110K as Ethereum Leads Altcoin Rally

Bitcoin surged close to its all-time high, briefly touching $110,000 amid a broader cryptocurrency market rally. Ethereum emerged as the standout performer among major altcoins. SEC Chairman reaffirmed commitment to advancing tokenization initiatives while market dynamics show institutions accumulating BTC as large whales take profits. Addentax Group announced plans to acquire $1.2 billion worth of Bitcoin, with Bit Digital raising $163 million for Ethereum purchases and DFDV securing $112.5 million for SOL acquisitions. Analysts predict potential $10 billion inflows for Ethereum ETFs in H2 2024, while banking expert predicts top financial institutions will acquire ETH for stablecoin operations. OpenAI clarified it has no involvement with any tokenized equity offerings, prompting Elon Musk to criticize such offerings as illegitimate. Meanwhile, Rex-Osprey launched a SOL/Staking ETF, BounceBit plans tokenized stock offerings in Q4, and Ripple pursues a U.S. banking license. BlackRock's Bitcoin ETF now outperforms its S&P 500 fund in fee generation, as Peter Thiel launches a digital bank for crypto users and Belgium's KBC Bank prepares to enter crypto trading.