Cryptocurrency investors have said it’s worthwhile to keep an eye on ether, with that coin performing better than the more popular bitcoin, Bloomberg reported Wednesday (Dec. 29).
Although bitcoin saw volatility from the presidential election, the momentum eventually plateaued. Ether has seen notable gains as it benefits from greater blockchain tech adoption among financial technology companies.
The popularity of non-fungible tokens (NFTs) also helped spur this growth, particularly in the worlds of art and gaming.
Bloomberg also reported Wednesday that bitcoin could be set up for the worst monthly performance it’s had since May, featuring a 17% downturn.
That said, investors do not seem to have been deterred, as they’re still putting money toward products tracking the crypto’s future.
For instance, the ProShares Bitcoin Strategy exchange-traded fund (ETF) has taken in over $40 million in December, while the Valkyrie Bitcoin Strategy ETF has seen $6.5 million in additions.
On Tuesday (Dec. 28), ProShares also applied to the U.S. Securities and Exchange Commission for a metaverse-focused ETF.
If approved, the ProShares Metaverse Theme ETF would use the Solactive Metaverse Theme Index to track the performance of various companies exposed to the metaverse industry.
Related: ProShares Launching Metaverse ETF