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Ethereum ETF Inflows Surge as ETH Jumps 10%

Ethereum spot ETFs in the U.S. saw a six-week high in inflows, with $52.3 million recorded on Nov. 6 as ETH rose by 10% to $2,872. Despite no inflows to BlackRock’s iShares Ethereum Trust, Fidelity’s Ethereum Fund led with $26.9 million, followed by Grayscale’s $25.4 million. Meanwhile, spot Bitcoin ETFs saw stronger inflows at $621.9 million, reversing a three-day outflow trend. Total crypto market cap rose to $2.64 trillion, with Bitcoin hitting a record high of $76,000, signaling strong post-election market optimism.

Japan’s FSA Plans New Rules to Protect Crypto Assets Post-FTX Collapse

Japan’s Financial Services Agency (FSA) is drafting laws to secure domestic crypto assets in cases of foreign exchange failures, like the FTX collapse. The FSA aims to introduce a “holding order” under the Payment Services Act, preventing outflows of assets overseas from exchanges used by Japanese customers. This change will expand protections to all virtual currency exchanges registered in Japan, safeguarding assets even when these exchanges are headquartered abroad. With this move, the FSA seeks to protect Japanese investors from potential risks posed by foreign-based crypto exchange failures.

Bitcoin Surges to Record $75K as Trump Leads Early in U.S. Election

Bitcoin hit a new all-time high of $76,500 as Republican candidate Donald Trump wins the U.S. presidential election. Polymarket betting shows Trump’s odds at 93%, fueling millions in bets, with one user poised to win nearly $30 million if he prevails. Trump's pro-crypto stance has gained support, contrasting with Kamala Harris’s neutral view on crypto. U.S. Bitcoin ETFs also contributed to the rally, holding over $68 billion in assets, further driving demand and supporting the price surge amidst election-day excitement.

Vitalik Buterin Sells 2.09M STRK on Binance, Takes $714K Loss

Ethereum co-founder Vitalik Buterin transferred 2.09 million STRK tokens to Binance, realizing a $714,000 loss as the STRK token rose 8.9% to $0.3804. Analysts believe Vitalik’s sale signals possible preparation for regulatory changes under a new presidency. Meanwhile, Starknet achieved a record high of 857 transactions per second (TPS) in October, with CEO Eli Ben-Sasson highlighting the network’s scaling progress as key to broader blockchain adoption. Starknet plans to launch more upgrades in early 2025, including the STWO prover for further TPS advancements.

France May Ban Polymarket Over Gambling Concerns

France’s gambling regulator, ANJ, is considering a ban on Polymarket, the popular crypto-based betting platform, due to its categorization as gambling. This scrutiny follows an anonymous French bettor placing a $30 million wager on Trump’s win. Polymarket, which allows betting on various global

Ethereum Whales Cash Out Amid Price Surge

Ethereum (ETH) saw a 13% price spike, sparking whale sell-offs worth $124 million. One prominent whale offloaded 25,000 ETH ($65M) on Kraken, while others followed, cashing out millions in profits. Tether supported this surge by injecting $1.845B USDT into Ethereum exchanges, adding $1.7B to Binance and millions to other major platforms. Ethereum’s price is currently up 18% over the past month, trading at $2,844. The spike led to $64.25M in liquidations, mostly short positions, indicating traders were unprepared for the bullish turn.

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