"Bank of America identifies surprise crypto driver amidst $300B market boom"
Bank of America has identified the tokenized gold market as a "key driver of digital asset adoption" that surpassed $1 billion in value last month. The bank's analysts highlighted the benefits of tokenized gold, including 24/7 real-time settlement, lower costs, and better liquidity than exchange-traded-funds and futures. Meanwhile, ethereum's Shanghai upgrade has rekindled hopes of institutional investors entering the crypto market, with Fidelity and BlackRock reportedly expanding into bitcoin and ethereum.