Spot Ether ETFs Record Historic Daily Inflows

Learn how to make AI work for you

AI won’t take your job, but a person using AI might. That’s why 800,000+ professionals read The Rundown AI – the free newsletter that keeps you updated on the latest AI news and teaches you how to use it in just 5 minutes a day.

Sign up to start learning.

Glad to see you back here in this new edition.

Here are the most important news of the week, but before you start be sure to read our newsletter in its entirety, next please reply to this email with your opinion about it.

Let's get started

PROMOTE HERE YOUR PROJECT

Table of Content

In today edition we talk about

• Ripple CTO Criticizes Government's 'Addiction to Indirect Regulation'

• Spot Ether ETFs Record Historic Daily Inflows, Surpassing Bitcoin ETFs

• Bitcoin Dominance Declines, Sparking Hopes for Altcoin Rally and XRP Surge

Ripple CTO Criticizes Government's 'Addiction to Indirect Regulation'

Ripple CTO David Schwartz has voiced strong opposition to "Operation Chokepoint 2.0," a government-led debanking effort targeting the crypto industry. Schwartz highlighted how debanking undermines fundamental rights like due process, free speech, and protection against unlawful searches. He argued that forcing financial institutions to sever ties with disfavored businesses allows the government to bypass lawful regulation, urging authorities to adopt transparent and legal processes.

The Impact of Operation Chokepoint 2.0

Tech founders and industry leaders have joined the outcry. Venture capitalist Mark Andreesen revealed that over 30 tech firms were affected, citing debanking as a factor in Silicon Valley’s political shift. Frax Finance founder Sam Kazemian and Coinbase CEO Brian Armstrong also shared personal accounts of debanking incidents, with Armstrong filing FOIA requests to uncover the extent of government involvement.

Targeting Crypto Institutions

In September 2024, Castle Island Ventures’ Nic Carter accused the Biden administration of deliberately shutting down Silvergate Bank, a critical player in crypto banking, as part of an effort to stifle the industry. Carter maintained that Silvergate was on track to recover but faced unnecessary interference.

Hope for Regulatory Change

Industry leaders remain hopeful that the incoming Trump administration will reverse the aggressive regulatory stance, fostering a more favorable environment for the crypto sector.

Spot Ether ETFs Record Historic Daily Inflows, Surpassing Bitcoin ETFs

Spot Ether ETFs in the U.S. achieved a record-breaking daily inflow of $332.9 million on Nov. 29, exceeding the previous record of $295.5 million set earlier in the month. Notably, Ether ETFs outpaced spot Bitcoin ETFs, which brought in $320 million the same day.

BlackRock Leads the Surge

BlackRock’s iShares Ethereum Trust contributed $250.4 million of the total inflows, bringing its total to over $2 billion since launching in July. As Ether’s price rose 1.88% to $3,662 on Nov. 29, market observers pointed to strong institutional interest.

A Shift in Market Focus

Crypto analysts highlighted the significance of Ether ETFs outperforming Bitcoin ETFs, suggesting the start of an “alt rotation.” This trend reflects growing investor confidence in Ethereum’s ecosystem, particularly in decentralized finance (DeFi).

Sustained Momentum for Ether ETFs

While Bitcoin ETFs have seen days of outflows, Ether ETFs have maintained consistent positive inflows since Nov. 22. Over four trading days, Ether ETFs recorded $224.9 million in net inflows, compared to Bitcoin ETFs’ $35.2 million, signaling increasing interest in Ethereum as a key investment asset.

Bitcoin Dominance Declines, Sparking Hopes for Altcoin Rally and XRP Surge

As Bitcoin's dominance in the crypto market falls to 56.1%, analysts anticipate a major rally for altcoins like Ether and XRP, signaling the start of "altseason." This trend, marked by funds moving from Bitcoin to smaller cryptocurrencies, is expected to gain momentum ahead of key events in January 2025, including President-elect Trump’s inauguration and SEC Chair Gary Gensler's departure.

Altseason Gathers Steam

Analysts highlight Bitcoin's declining dominance as a catalyst for altcoin growth, with Ether leading the charge. Demand for leveraged Ether ETFs has surged over 160% since Trump’s election victory, with expectations of Ether surpassing $4,000 by January.

XRP Poised for Gains

XRP, currently the sixth-largest cryptocurrency, is projected to reach $2.57 by December 2024, according to Bitget Research’s Ryan Lee. Historically, XRP has rallied following Bitcoin’s halving events, and further progress on an XRP ETF, such as 21Shares’ recent filing with the SEC, could serve as a significant price catalyst.

Positive Regulatory Signals Ahead

The upcoming departure of SEC Chair Gensler on Jan. 20 is seen as a potential turning point for crypto-friendly regulations and ETF approvals. Combined with Trump’s inauguration, analysts predict these events could boost market sentiment and investor appetite, driving a strong start to 2025 for altcoins.

Are you ready to take a leap into the world of cryptocurrencies and NFTs? Don't miss out on these opportunities! Share this newsletter with a friend and let's ride this wave together! 🌊

To stay updated and thrive in the world of crypto make sure you are subscribed to our newsletter and follow us on X (twitter)

Tell your blockchain-loving friends about us! Together it's easier to stay updated and improve!

IMPORTANT

Disclaimer: Wealth Wave is just a free newsletter that aims to share information regarding the world of finance, business, investment... We are not financial advisors, which means we don't give financial advice, don't buy stocks, crypto, nfts... just because we talked about it.

We are not responsible in any way for the capital others

Remember "every form of investment involves the risk of losing money, very often all capital" -- Do your research --