Ether ETFs Outpace Bitcoin in Inflows, Attracting Institutional Investors
Ether (ETH) is outperforming Bitcoin (BTC) in the exchange-traded fund (ETF) space, with significant institutional interest driving the growth. CoinShares reports that Ether saw a record $634 million in ETF inflows in the final week of November, pushing its total for 2024 to $2.2 billion. As regulatory clarity improves in the U.S., Ether’s appeal continues to rise, particularly among institutional investors looking for more stable and profitable investment options. With the possibility of staking yields being added to Ether ETFs, this growth trend is expected to continue.
Meta’s Diem Stablecoin Project Ends Amid Regulatory Pressure
Meta’s decision to shut down its stablecoin project, Diem, has caused a stir in the crypto world. David Marcus, who led the project, cited political interference and pressure from regulators as the primary factors behind its closure. Despite the initial promise of Diem to revolutionize digital payments, Meta’s exit highlights the complex relationship between blockchain projects and government regulation. The shutdown of Diem may have wider implications for the future of stablecoins, particularly those backed by large tech companies.
BitGo Eyes India’s Booming Crypto Market
BitGo is eyeing India’s rapidly expanding cryptocurrency market, which is expected to generate $6.6 billion in revenue by 2024. With its institutional-grade crypto services, including custody solutions and trading platforms, BitGo aims to capitalize on the country’s growing interest in digital assets. India’s evolving regulatory landscape presents both challenges and opportunities for BitGo as it looks to establish a foothold in one of the world’s largest and most dynamic markets for cryptocurrency.
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