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- Solana ETFs post 10th consecutive day of inflows, Bitcoin sees moderate gains.
- U.S. Treasury and IRS allow staking for regulated ETPs, enabling institutional rewards.
- Ethereum whales and XRP growth highlight renewed market optimism.
U.S. crypto markets saw notable movements on November 10 as Bitcoin and Solana ETFs attracted significant investor interest, even as Ethereum remained largely flat. Meanwhile, regulatory developments from the U.S. Treasury and IRS are reshaping the landscape for crypto staking, signaling growing institutional adoption.
Bitcoin and Solana ETFs See Strong Inflows
According to SoSoValue, U.S. Bitcoin spot ETFs recorded total net inflows of $1.15 million on November 10, with Bitwise’s BITB being the sole contributor. In contrast, Ethereum spot ETFs experienced no inflows, reflecting muted market activity. Solana ETFs, however, drew $6.78 million in net inflows, marking the 10th consecutive day of gains. Analysts suggest this sustained interest highlights investor confidence in Solana’s long-term potential, even as broader markets consolidate.
U.S. Treasury and IRS Greenlight Crypto Staking
In a landmark move, the U.S. Treasury and IRS approved rules allowing crypto exchange-traded products (ETPs) to stake digital assets and distribute rewards directly to investors. Treasury Secretary Scott Bessent emphasized that the policy encourages innovation and solidifies the U.S.’s leadership in digital finance. Tokens such as Ethereum, Cardano, and Solana are now eligible for staking within regulated ETP structures, providing much-needed clarity for institutional investors.
Also Read: Five XRP ETFs Listed on DTCC: Launch Could Happen This Month
Renewed Market Optimism Across Cryptos
Investor confidence appears to be rising across the crypto market. Ethereum whales are actively rebuilding positions, depositing significant amounts into platforms like Aave, while XRP surged 12% as new wallet creation reached an eight-month high. Bitcoin is also trending, fueled by optimism over the recent U.S. government reopening. Market watchers note that these moves reflect both institutional and retail interest amid a clearer regulatory environment.
With ETFs attracting strong inflows, regulatory barriers easing, and whales actively engaging in Ethereum and other assets, the U.S. crypto market is entering a phase of renewed optimism. Investors are closely watching these developments as staking opportunities and institutional participation are poised to grow.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m your translator between the financial Old World and the new frontier of crypto. After a career demystifying economics and markets, I enjoy elucidating crypto – from investment risks to earth-shaking potential. Let’s explore!
