The SEC's approval of spot Bitcoin ETFs significantly increased trading volume at the Chicago Mercantile Exchange by 35%, reaching $94.9 billion.

This milestone allowed institutional investors easier access to Bitcoin, the largest cryptocurrency by market cap.

Following the ETF approvals, Binance, the top crypto exchange, experienced a growth in trading volume, securing a 31.3% market share.

Although Bitcoin's price initially surged with the ETF approval, it experienced a subsequent decline, suggesting a potential end to its uptrend.

Market focus is now shifting towards the potential approval of an ether ETF, with several applications pending SEC's decision later in the year.

The market dynamics, including the increased trading volume for ether futures and options, and the decrease in open interest for bitcoin futures, illustrate the influence of the Bitcoin ETF approvals on institutional investors.