NEW YORK — The global cryptocurrency market surged past the $4 trillion mark Friday, a milestone fueled by a powerful combination of institutional investment, fresh regulatory clarity and growing adoption, data from CoinGecko showed.
The breakthrough followed the U.S. House of Representatives’ approval Thursday of the “Genius Act,” the nation’s first federal legislation to oversee dollar-pegged stablecoins, which now awaits signature by President Donald Trump. In addition, two accompanying bills — one setting a broader framework for digital assets and another banning issuance of a central bank digital currency — advanced to the Senate.
“It’s a landmark moment,” said Derren Nathan, head of equity research at Hargreaves Lansdown, noting lawmakers’ cautious optimism toward crypto regulation CoinFund President Chris Perkins described the Genius Act as laying the foundation for mainstream acceptance of digital assets
Within the crypto arena, Bitcoin hit fresh record highs above $120,000 earlier in the week — though it had eased slightly to around $118,000 by Friday — riding a bullish wave that could drive its year-end value to $200,000, according to forecast from brokerage Bernstein. Ether, the world’s second-largest cryptocurrency, more than doubled in value over the past three months.
Investor enthusiasm also fueled gains in crypto-linked equities: Coinbase and Robinhood both reached all-time highs, and Ether-focused stocks joined the rally.
The latest milestone marks a dramatic transformation of cryptocurrency from speculative fringe asset to an integral component of global finance, supported by rising interest from asset managers, new investment products and growing corporate adoption.