Crypto Biz: Wall Street gets a taste of altseason
This week’s Crypto Biz explores Ether ETFs growing inflows, the political moves behind Meta’s stablecoin sunset, BitGo’s plans for India, and more.
Wall Street appears to have embraced the altseason, with Ether (ETH) surpassing Bitcoin (BTC) in exchange-traded funds inflows during the final week of November.
According to CoinShares, net inflows for ETH funds reached $634 million over that week, setting a new record of $2.2 billion in 2024 as investors diversify portfolios in anticipation of improved regulatory conditions in the United States.
Markets are likely watching the prospects of additional revenue coming from ETH funds. Analysts from Bernstein Research anticipate that Ether ETFs may soon feature staking yields. “We believe, under a new Trump 2.0 crypto-friendly [Securities and Exchange Commission], ETH staking yield will likely be approved,” Bernstein said on Dec. 2.
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Author: Ana Paula Pereira
