TLDR
- ICE’s $2 billion investment values Polymarket at $9 billion post-money.
- U.S. Bitcoin ETFs saw $1.21 billion inflows, marking the largest since 2016.
- India supports CBDC but maintains resistance to private cryptocurrencies.
- Meanwhile raises $82 million to expand Bitcoin life insurance offerings.
Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, is making waves in the crypto space with a $2 billion investment in predictions platform Polymarket. The deal values Polymarket at $9 billion post-money and comes as the platform expands its footprint in the U.S. The investment is one of the largest from traditional finance (TradFi) into crypto. The move follows a surge in U.S. spot Bitcoin ETFs, which saw the largest daily inflows since the 2016 election, further signaling growing institutional interest in digital assets.
ICE’s $2 Billion Investment in Polymarket
ICE’s strategic investment in Polymarket marks a significant step toward bridging traditional finance with the growing crypto sector. The $2 billion deal values the predictions platform at $9 billion after the funding.
Polymarket, known for allowing users to speculate on various outcomes in politics, economics, and culture, is looking to solidify its presence in the U.S. market. The platform has recently made strides to acquire derivatives venue QCEX, which could potentially enhance its product offerings.
ICE confirmed the investment on social media, stating that both companies are “building the next evolution of markets.” The announcement came after reports that Polymarket was considering a new funding round. With this investment, Polymarket aims to enhance its operations and expand its market presence in the U.S., a move that could help reshape how people engage with markets and predictions.
Bitcoin ETFs See Largest Daily Inflows Since 2016
Bitcoin exchange-traded funds (ETFs) saw an unprecedented surge in inflows on Monday, as U.S. spot Bitcoin ETFs attracted $1.21 billion. This marks the largest daily inflows since the Trump election in 2016, with BlackRock’s IBIT leading the charge.
The $970 million in inflows directed toward IBIT alone pushed the total assets under management (AUM) to nearly $100 billion. BlackRock’s dominance in the Bitcoin ETF space is evident, with IBIT set to become the fastest ETF ever to hit the $100 billion milestone.
The strong performance of spot Bitcoin ETFs signals growing institutional adoption of Bitcoin and reflects a broader trend of increasing trust in digital assets. The total AUM of U.S. spot Bitcoin ETFs now stands at around $170 billion, a significant jump since their launch in 2024. Other crypto assets, such as Ethereum, also saw positive inflows, with the U.S. Ethereum ETFs bringing in $181.8 million on the same day, further underscoring institutional confidence in the sector.
India Strengthens Support for CBDC While Rejecting Private Crypto
India continues to make progress on its central bank digital currency (CBDC) project, with Union Minister Piyush Goyal reaffirming government support for the digital rupee. The government sees the CBDC as a way to make transactions faster, more traceable, and less reliant on traditional banking.
Goyal emphasized the potential of the digital rupee in improving financial inclusion and simplifying the payment process. However, the Indian government remains opposed to private cryptocurrencies, maintaining a stance that discourages their use through heavy taxation.
Despite this, India has emerged as a global leader in grassroots crypto adoption. The country has topped the global rankings for crypto adoption, according to Chainalysis, demonstrating a growing interest in decentralized financial systems. While the Indian government continues to regulate crypto activities, it is clear that the country’s approach to digital currency is evolving.
Bitcoin Life Insurer Meanwhile Raises $82 Million
Bitcoin life insurance provider Meanwhile has raised $82 million in new funding, co-led by Haun Ventures and Bain Capital Crypto. The company offers life insurance products denominated in Bitcoin, providing policyholders with a way to accumulate digital assets as part of their long-term financial planning.
The new round will fund Bitcoin purchases for Meanwhile’s balance sheet and support its global expansion, with the company aiming to enter markets such as Hong Kong, Dubai, and Singapore by 2026.
Meanwhile, assets under management have grown significantly, increasing by more than 200% year-over-year. The company’s unique business model, which focuses on Bitcoin, has resonated with a growing number of policyholders. The new funding round also builds on a $40 million Series A that was closed earlier this year.
Ethereum Treasuries and ETFs Increase Their Holdings
Ethereum treasuries and spot ETFs are now holding over 10% of the total ETH supply. Data from StrategicETHReserve shows that treasury companies control 5.66 million ETH, or 4.68% of the total supply, while spot ETFs account for 6.81 million ETH, or 5.63%.
This growing accumulation of ETH reflects rising institutional interest in Ethereum and its potential as a yield-bearing asset. Companies such as Grayscale have also integrated staking into their Ethereum ETFs, further fueling institutional adoption.
The increasing stake of Ethereum in institutional portfolios highlights its continued growth as a valuable asset. As Ethereum continues to develop its network and yield-bearing potential, more investors are likely to engage with the asset class, further driving its mainstream adoption.
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