Ether and trading stocks take the crypto spotlight as Congress passes historic stablecoin bill
Jonathan Raa | Nurphoto | Getty Images
Ether and other crypto related stocks climbed to end the week as the GENIUS Act heads to President Donald Trump’s desk to be signed into law. Bitcoin and its proxies took a breather.
The price of ether was last higher by 3.6% at $3,558.68, according to Coin Metrics, trading at highs not seen since January.
On Thursday, ETFs tracking the price of ether saw daily inflows top those of bitcoin ETFs for the first time ever. The funds logged $602 million in net inflows, led by BlackRock’s iShares Ethereum Trust (ETHA). Bitcoin ETFs on the same day saw inflows of $522 million. A day earlier, the ETH funds saw a single-day record inflow of $726.7 million.
Stocks tied to crypto trading gained as well.
