Ether ETFs Lead the Way with Record Inflows
Ether (ETH) continues to outperform Bitcoin (BTC) in the ETF market, with CoinShares reporting a record $634 million in Ether ETF inflows during the final week of November. This brings Ether’s total ETF inflows for 2024 to $2.2 billion. As institutional interest in Ether grows, analysts predict that Ether ETFs may soon offer staking yields, making them even more attractive to investors. Ether’s price increase and growing market share reflect its rising prominence in the digital asset space.
Meta’s Stablecoin Project Shuts Down Due to Political Hurdles
Meta’s Diem stablecoin project has officially been shut down, with David Marcus attributing its failure to political pressures from regulators. Despite its early promise to revolutionize digital payments, Diem was unable to overcome regulatory challenges, leading to Meta’s exit from the blockchain space. The shutdown of Diem raises important questions about the future of corporate-backed stablecoins, especially as regulators continue to impose stricter controls over the crypto sector.
BitGo’s Expansion into India’s Crypto Market
BitGo is expanding its presence in India’s rapidly growing cryptocurrency market, which is projected to generate $6.6 billion in revenue by 2024. The company is working to offer institutional-grade services, including custody solutions and trading platforms, to meet the growing demand for digital assets in India. As India’s crypto market continues to expand, BitGo’s entry into the region presents significant opportunities, though navigating the country’s evolving regulatory environment will be key to its success.
