The Digest

• New All-Time Record, Higher Chances for an ETH ETF than Spot ETF
• Metaverse News Bite: Microsoft (NASDAQ) Nike MANA Spikes 400% (NYSE:)
• Australia’s Largest Bank to Integrate Crypto Services in App
• Miami Mayor Says That He’ll Take Next Paycheck 100 % in Bitcoin

Ethereum Gold, New All Time High. Chances for an Ethereum ETF higher than Bitcoin Spot ETF

The world’s second-largest crypto, Ethereum, has reached a new all-time high barely a week after setting an ATH. ETH posted an intraday gain in the range of 5.5% Wednesday (November 3), helping it reach a new record of $4,638.

This is the 30-day chart for Ethereum (ETH) prices. Source: Tradingview

Over the past 30 trading days, ETH traded at $4,604. An Ethereum Futures ETF is in high demand as Ethereum prices rise.

A new study shows that the U.S. regulators will approve an Ethereum futures-based ETF more often than allowing funds to directly hold Bitcoin. A spot Bitcoin ETF is preferred to the existing futures-based ETFs, according to most market participants.

Flipsider

• After approbating two, however ETFsSEC delayed its approval decision Valkyrie’s proposed spot ETF until January 7, 2022

What You Need to Care About

BTC rallied to a new ATH after the approval of a Bitcoin ETF. Analysts believe an Ethereum futures ETF may be possible as early as 2022. The future looks bright for Ethereum.

Metaverse News Bits: Microsoft and Nike will enter the Metaverse. MANA Spikes 400%

The Metaverse, a fully immersive online realm that pictures the internet’s future iteration, is beginning to gain traction. Following Facebook’s rebranding as Meta, interest in the Metaverse has skyrocketed.

Microsoft now joins the race to create a Metaverse. Just days after Zuckerberg’s demonstration, Microsoft tested its own corporate metaverse inside Teams. In Microsoft’s metaverse version of the office, users use a 3D avatar to represent them. Microsoft’s metaverse will launch in the first half of 2022.

Nike, a multinational brand of sportswear, filed seven trademark applications in October to join the race for a metaverse. Part of the company’s application indicated its intent to make and sell virtual branded sneakers and apparel.

Decentraland, a 3D virtual reality platform that is decentralized and designed to facilitate the creation of metaverse races, has seen a 400% increase in its popularity. MANA reached a record $4.69, a new high.

Decentraland’s 30-day price graph (MANA) Source: Tradingview

Flipsider

• MANA dropped 40% to $2.8764 after it was unable to sustain the huge price increase.

Care is a must

The growth of megacorporations’ interest in the metaverse is expected to accelerate its construction and adoption.

Australia’s Largest Bank to Integrate Crypto Services in App

The Commonwealth Bank of Australia (OTC:) (CBA), the largest bank in Australia, will become the country’s first bank to offer retail clients crypto services. CBA is expected to integrate crypto within its banking app.

Gemini Trust Company LLC (a New York-based cryptocurrency exchange) will be the bank’s partner. The partnership will allow for integration of ten different cryptos into its banking app. Matt Comyn is the chief executive of the CBA and said that it could be a key player in meeting increasing customer demand for cryptocurrency.

CBA customers, which number 6.5 millions, will have the ability to use their app to purchase, sell, or hold cryptocurrency starting 2022. This year, however, will see the start of a pilot program that tests the integration.

Flipsider

• In September, Australian banks received criticism after refusing to deal with cryptocurrency companies.

What You Need to Care About

Although cryptocurrency is legal in Australia’s banking system, it has made no attempt to conduct business with providers of crypto currency. The CBA announcement marks a change in Australia’s banking sector.

Miami Mayor Says He’ll Take Next Paycheck 100 % in Bitcoin

Francis Suarez is the mayor of Miami. He became well-known because of his pro-Bitcoin views. Suarez posted the following Tuesday tweet (NYSE:):

I’m going to take my next paycheck 100% in bitcoin…problem solved! @Sarasti could you help me? https://t.co/v4YdPZ0tYc

— Mayor Francis Suarez (@FrancisSuarez) November 2, 2021

In response to Mayor Suarez’s call for help from Mike Sarasti, the CIO and director of Innovation & Tech of the city of Miami, tweeted “Mayor. Amazing,” along with two “100” symbols and a Bitcoin symbol.

Mayor Suarez, the first American politician to accept a Bitcoin salary, will now be known as Mayor Suarez. He has made it clear that he wants to make Miami a Bitcoin center.

In trying to build his city into a Bitcoin capital of the world, Mayor Suarez has advocated for Bitcoin miners to have access to the city’s nuclear plants and pushed for the payment of taxes and salaries in Bitcoin.

Flipsider

• Gary Gensler (SEC Chair) assured Senate that the regulator was working hard to establish a system to monitor the cryptocurrency market.

What You Need to Care About

Miami Mayor has been a vocal advocate for Bitcoin. Other politicians might follow his lead.

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