BlackRock’s Ethereum ETF reaches $1 billion milestone
BlackRock’s Ethereum ETF recently reached the $1 billion capital milestone, a sign of renewed confidence in Ethereum. This marks a remarkable comeback for the market, which had previously experienced mostly price declines. Last week, Ethereum funds saw net inflows of $84.5 million, representing the first positive trend in a long time. This growth in the ETF shows that investors are becoming interested in digital assets again and that the crypto market may be at a turning point. The rising interest in Ethereum could indicate a broader revival in the cryptocurrency sector.
PayPal makes crypto available to 38 million businesses
PayPal is expanding its crypto services to 38 million U.S. businesses, now allowing them to buy, hold and sell cryptocurrencies. The move is in response to growing demand from businesses for crypto functionalities similar to those of consumers. PayPal’s business clients can also send and receive cryptocurrencies to external wallets. This expansion is an important development in the acceptance of digital currencies within the U.S. business sector. It highlights PayPal’s ongoing commitment to making cryptocurrencies more accessible to a wider audience.
AFM warns of ‘Pump and Dump’ in crypto sector
The Authority Financial Markets (AFM) has warned of increasing market manipulation in the crypto sector, specifically targeting ‘pump and dump’ practices. In this type of fraud, the price of a crypto currency is artificially increased, after which those involved sell their coins for a profit. This often leads to significant losses for consumers. The AFM has investigated three cases of such manipulation and stresses that the new European crypto legislation, which takes effect on Dec. 30, 2024, will prohibit such practices.
Trading crypto is risky so make sure you are well informed before investing in crypto currencies.
