Ether ETFs See Record Inflows as Investor Interest Grows
Ether (ETH) has emerged as the leader in exchange-traded fund (ETF) inflows, surpassing Bitcoin (BTC) in recent weeks. CoinShares reported that Ether saw a record $634 million in inflows during the last week of November, pushing its total for the year to $2.2 billion. This surge in interest reflects growing confidence in Ethereum as a top-tier digital asset, fueled by regulatory clarity in the U.S. Analysts also suggest that Ether ETFs may soon incorporate staking yields, which could attract even more institutional investors looking for high returns.
Meta Closes Diem Project Amid Regulatory Hurdles
Meta’s stablecoin project, Diem, has come to an end, with David Marcus, former head of the project, pointing to political interference as the key reason for its failure. Despite initial enthusiasm for Diem’s potential to reshape the digital payments landscape, Meta’s exit emphasizes the challenges that even large tech companies face when navigating the regulatory complexities of the crypto space. The closure of Diem raises concerns about the future of corporate-backed stablecoins and their role in the broader digital economy.
BitGo Targets India’s Rapidly Growing Crypto Market
BitGo is making a strategic move to enter India’s rapidly growing cryptocurrency market, which is projected to generate $6.6 billion in revenue by 2024. The company plans to offer its suite of institutional services, including custodial and trading solutions, to meet the demands of the expanding market. India’s favorable demographic trends and increasing cryptocurrency adoption make it a prime target for BitGo’s expansion, although the company will need to navigate the country’s evolving regulatory environment to succeed.
