On July 22nd, according to a recent report by Finery Markets, the institutional cryptocurrency market experienced significant growth in the first half of 2024, with the total volume of spot transactions surging 95% year-on-year. The report states that the first half of 2024 is a critical period for institutional cryptocurrency adoption. Bitcoin ETFs have been launched in Australia, the United States, and Hong Kong. VanEck's application for the Solana ETF highlights the growing trend of diversification in cryptocurrency investment vehicles. Additionally, despite low institutional engagement, some counterfeit products (such as TRX and BNB) showed significant growth, with spot transaction volumes increasing by 202% and 129% year-over-year, respectively. In contrast, Ripple (XRP) fell by 18% year-over-year.