Ether Outperforms Bitcoin in ETF Market
Ether (ETH) continues to outperform Bitcoin (BTC) in exchange-traded fund (ETF) inflows, with CoinShares reporting a record $634 million in the last week of November. This brings Ether’s total ETF inflows for 2024 to $2.2 billion, reflecting growing institutional interest in Ethereum. With the potential for Ether ETFs to integrate staking yields in the future, institutional investors are eyeing this as a lucrative opportunity. The increasing regulatory clarity around crypto in the U.S. continues to boost investor confidence, propelling Ether’s growth even further.
Meta’s Diem Project Closure Amid Political Pressures
Meta’s Diem stablecoin project has officially ended, with the company attributing its shutdown to political interference. David Marcus, who led the project, claimed that regulators imposed undue pressure on the initiative, ultimately leading to its closure. Despite initial optimism about Diem’s potential to reshape the digital payments landscape, the shutdown of the project highlights the ongoing regulatory challenges that tech companies face when attempting to launch blockchain-based solutions. Meta’s exit raises concerns about the future of stablecoins backed by major tech firms.
BitGo Eyes India’s Crypto Market Expansion
BitGo is set to tap into India’s rapidly expanding crypto market, which is expected to generate $6.6 billion in revenue by 2024. The company plans to offer a range of services, including custodial solutions and trading platforms, to capitalize on the growing interest in digital assets in India. As the country’s regulatory environment continues to evolve, BitGo’s expansion into India presents both opportunities and challenges, with the potential for significant growth in one of the world’s largest cryptocurrency markets.
