The Industrial and Commercial Bank of China (ICBC), the largest bank globally, recently highlighted Bitcoin and Ethereum, the two leading cryptocurrencies, in one of its reports. ICBC categorized BTC as 'digital gold' and ETH as 'digital oil', emphasizing the rapid growth of these cryptocurrencies. In its analysis, ICBC drew parallels between BTC and gold, stating that Bitcoin addresses issues such as divisibility, authenticity verification, and transport convenience that gold faces. Moreover, ICBC acknowledged Bitcoin's maintenance of scarcity through a consensus mechanism.

Regarding Ethereum, ICBC characterized it as 'digital oil', attributing significance to ETH's pivotal role in supporting various Web3.0 innovations, notably the introduction of stablecoins. The bank's report highlighted Ethereum's continuous enhancement of technology in terms of security, scalability, and sustainability, emphasizing its crucial contribution to the digital future. Additionally, ICBC pointed out the role of stablecoins in bridging the digital currency market with the real world.

Matthew Sigel, the digital asset research manager at VanEck, mentioned the affirmation of Bitcoin and Ethereum by state-owned Chinese banks, citing ICBC's positive stance in the latest report. It is essential to note that this information does not constitute investment advice.