According to a Canaccord report, the crypto market has rebounded over the past year, recovering from the FTX exchange collapse in November 2022. The market has shifted from a phase of consolidation and recovery to renewed growth, driven by the introduction of spot ETFs in the U.S. Analysts led by Joseph Vafi highlighted the positive impact of Bitcoin and Ethereum spot ETFs on broader institutional adoption of digital assets. This trend is expected to continue, with increasing institutional allocations to crypto. The report also praised MicroStrategy’s significant gains, further reflecting the market’s ongoing evolution and growth.