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Tag: crypto etf

  • Bitwise Files for 11 Altcoin ETFs Targeting AAVE, UNI, SUI, More

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    Bitwise’s filings span DeFi, layer-1s, privacy coins, and AI-linked tokens, signaling a broad bet on altcoin demand.

    Asset manager Bitwise has submitted filings for 11 new single-asset cryptocurrency exchange-traded funds (ETFs) to the U.S. Securities and Exchange Commission (SEC).

    This batch targets major altcoins, including Aave (AAVE), Uniswap (UNI), and Sui (SUI), signaling a direct challenge to current regulatory boundaries that have largely confined ETF approvals to Bitcoin, Ethereum, and, more recently, Solana and XRP.

    Bitwise Pushes Deeper Into Altcoin ETFs

    According to the filings, the proposed products will sit under the Bitwise Funds Trust and trade on NYSE Arca if approved. The lineup includes strategy ETFs focused on AAVE, UNI, Zcash (ZEC), Near (NEAR), SUI, Tron (TRX), Starknet (STRK), Ethena (ENA), Bittensor (TAO), Hyperliquid (HYPE), and the Canton Network’s CC token.

    The prospectus outlined a consistent structure across the funds. Each ETF plans to hold up to 60% of its assets directly in the underlying token, while at least 40% would come from exchange-traded products, futures, or swaps that track the same asset. In some cases, exposure may be managed through offshore subsidiaries, a structure already familiar in commodity and crypto-linked funds.

    ETF analyst Eric Balchunas reacted to the filings, writing on X that “money (and ETF filings) never sleeps,” a nod to the pace at which issuers are racing to secure first-mover advantage in altcoin products. Industry accounts such as ETF Hearsay also flagged March 16, 2026, as the tentative effective date, though fees and tickers remain undecided.

    The breadth of the filings stands out because while earlier cycles focused almost entirely on Bitcoin and later Ethereum, Bitwise is now targeting decentralized finance, layer-1 networks, privacy coins, and even AI-linked crypto through TAO, reflecting shifting investor interest.

    A Crowded and Competitive Landscape

    Bitwise has made its move at a time when crypto ETFs outside Bitcoin are already showing mixed but telling results. For example, spot Solana ETFs, which launched in October, had attracted more than $750 million in net inflows halfway through December, according to recent CoinShares data.

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    Analysts noted that investors appear willing to hold these products through volatile price swings, suggesting longer-term positioning rather than short-term trading.

    Meanwhile, Ripple-linked ETFs have gone even further. As CryptoPotato previously reported, U.S.-listed XRP ETFs have recorded more than $1 billion in cumulative inflows without a single day of net withdrawals, outperforming Bitcoin, Ethereum, and Solana funds during the same period.

    For now, the filings signal growing confidence from asset managers that investor demand extends well beyond the largest cryptocurrencies and that the ETF market may soon reflect that shift, pending the SEC’s response.

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    Wayne Jones

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  • Crypto Fear Hits Extreme on Christmas as Bitcoin, Ethereum ETF Outflows Persist

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    Bitcoin dipped below $87K on Christmas amid thin liquidity and ETF outflows, even as on-chain data hints at easing sell pressure.

    Bitcoin (BTC) slipped below $87,000 during thin Christmas Day trading on December 25, as ETF outflows and weak holiday liquidity kept pressure on the market, according to data shared by XWIN Finance.

    The pullback comes even as on-chain metrics point to easing sell pressure and a record build-up of stablecoin capital, leaving traders split between caution and the risk of sudden price swings.

    ETF Outflows and Holiday Liquidity Weigh on Prices

    XWIN Finance’s Trend Index, published on December 25, placed the market firmly in a “mild downtrend” with a score of 34 out of 100, citing persistent ETF withdrawals and U.S.-session selling as the main drags.

    It saw Bitcoin briefly dipping below $87,000 before bouncing, though repeated attempts to reclaim the $88,000 to $89,000 area have stalled, a zone XWIN described as heavy resistance shaped by options positioning.

    Meanwhile, spot Bitcoin ETFs continued to see net withdrawals, with roughly 2,900 BTC, worth some $251 million, leaving funds in the latest session. That weakness lines up with figures reported by CryptoPotato on December 24, which showed cumulative BTC ETF inflows shrinking by nearly $6 billion since their October peak. Ethereum funds followed a similar pattern, remaining net negative on a weekly basis despite a small daily bounce.

    By contrast, diversification flows are visible elsewhere. For example, Solana products posted steady inflows, while XRP-related ETFs added about $8 million in the most recent session, extending a streak that has made XRP funds an outlier among crypto ETFs.

    Bitcoin’s price action reflects this uneasy balance, with the asset trading just under $88,000 at the time of writing, up about 1% on the day and week, but still nearly 20% lower over three months.

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    Volatility has stayed compressed, with a 24-hour range between $87,000 and $88,000, while the past week saw swings between $85,000 and just over $90,000. Relative to the broader market, Bitcoin’s moves have been muted, with liquidity-driven wicks outweighing trend-following flows.

    On-Chain Signals Hint at Exhaustion, Not Panic

    Beneath the weak sentiment, on-chain data paints a more nuanced picture. XWIN noted that whale exchange inflows over the past 30 days sit near cycle lows, while Coin Days Destroyed (CDD) is still falling, a sign that long-term holders are slowing their selling.

    At the same time, there appears to be a fair amount of caution, with spending from very old Bitcoin cohorts ticking higher, a pattern sometimes seen near major turning points. Network activity also remains soft, suggesting demand has not yet returned in force.

    According to the XWIN assessment, the current market tension is being reflected in sentiment gauges, particularly the Fear and Greed Index, which is in “Extreme Fear” at 24, while DeFi borrowing has dropped sharply since August, pointing to reduced leverage. Nonetheless, stablecoin supply has climbed to a record near $310 billion, signaling large pools of sidelined capital.

    With equities and gold both at record highs and January rate expectations tilted toward a pause, macro conditions are not overtly hostile. For crypto, however, XWIN suggested that the next move still hinges on ETF flows and post-expiry options dynamics. Until those shifts, the market may stay fragile, even as signs of seller fatigue quietly build beneath the surface.

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    Wayne Jones

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  • IRS Introduces Safe Harbor Allowing Tax-Free Staking for Crypto ETPs

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    Revenue Procedure 2025-31 lets ETPs distribute staking rewards directly to investors without triggering extra taxes.

    The U.S. Treasury and the IRS have announced a new safe harbor that allows crypto exchange-traded funds (ETFs) to stake digital assets without paying extra tax.

    The guidance resolves a regulatory challenge that previously prevented asset managers from participating in staking networks due to concerns about potentially violating tax laws.

    Safe Harbor Guidance

    Under Revenue Procedure 2025-31, ETFs and trusts are now allowed to stake digital assets and share the rewards directly with investors. Treasury Secretary Scott Bessent stated on November 10 that the move is intended to enhance investor benefits, promote innovation, and maintain America’s position as a global leader in digital asset and blockchain technology.

    Under the previous framework, tax law prohibited a trust from controlling its investments or operating a business for profit. This created a challenge because actively managing staking could lead the IRS to classify the product as a corporation. If that happened, the trust’s rewards would be subject to corporate taxes, making the activity unprofitable for investors.

    The revised policy creates a safe harbor where staking rewards earned within an ETP framework do not automatically create immediate tax liabilities for individual investors. Consensys lawyer Bill Hughes explained the update, stating, “[The guidance] transforms staking from a compliance risk into a tax-recognized, institutionally viable activity.”

    To take advantage of the protection, an ETF must follow strict rules. The investment products must operate on a national securities exchange and have all activities and disclosures approved by the SEC. The trust can hold only cash and one type of proof-of-stake digital asset, and management is limited to essential tasks, such as accepting assets, paying expenses, and distributing rewards.

    Earning profits from market fluctuations is also not allowed, and a third-party custodian must hold the private keys and work with an independent staking provider.

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    New Rules Accelerate a Growing Trend

    This new tax clarity arrives as asset managers are already expanding their offerings. The regulatory path for such products was partly cleared in August when the SEC’s Division of Corporation Finance issued a bulletin stating that certain liquid staking activities do not fall under securities laws.

    Many experts saw the determination as the last major obstacle for the SEC to approve staking in spot Ethereum ETFs. It set the stage for new products, including the first Solana staking ETF, which launched in the United States back in July.

    BMNR Bullz, a well-known X account, described the development as a major victory for ETH and crypto ETFs, suggesting it could open the door to trillions of dollars in institutional capital and accelerate mainstream digital asset adoption.

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    Wayne Jones

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  • Spot XRP ETF to Launch on November 13? Here’s the Latest Big Update

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    Meanwhile, the odds on Polymarket are still nearly 100% for such a launch this year.

    Popular asset manager Canary Capital has updated its spot XRP ETF S-1 filing with the US Securities and Exchange Commission and removed the “delayment amendment,” which could guarantee an imminent launch of the fund in 20 days.

    It’s worth noting that Canary updated its SOL ETF application similarly weeks ago, and the product went live for trading earlier this week.

    Save the Date?

    The delaying amendment essentially says to the regulator that the issuer is postponing the activation of the ETF until it explicitly confirms to the SEC that it’s ready to go live. Removing it from the filing means that Canary is prepared with all necessary structural points and expects no further objections from the watchdog.

    Consequently, the updated application has a 20-day period and a launch date of November 13, after which the ETF can legally start trading unless the SEC stops it from doing so or the Nasdaq fails to approve the 8-A filing.

    As Eleanor Terrett explained, SEC Chair Paul Atkins is reportedly supporting such filings, as companies are trying to take advantage of the auto-effective method, which could be even more beneficial during the current government shutdown. As mentioned above, Canary, as well as Bitwise, already used this approach with their SOL, HBAR, and LTC ETF filings.

    Bitwise’s CIO, Matt Hougan, recently claimed that the XRP Army will “smash-buy the ETF” if the financial vehicle sees the light of day. He also predicted that spot XRP ETFs will “easily” become a billion-dollar fund within the first few months of launching. The statement was echoed by Nate Geraci, the President of Nova Dius Wealth.

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    Major XRP Sell Walls

    XRP had a good week in terms of price action, at least until the correction after the Fed cut the interest rates. It’s still one of the few larger-cap cryptocurrencies in the green weekly, and sits close to $2.50.

    Analyst CW claimed that the asset has two major selling walls on its way north. If it can manage to pass through them, it will open the door for the coveted $3 price tag.

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    Jordan Lyanchev

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  • SEC Approves Generic Listing Standards Clearing Path For Crypto ETPs

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    The SEC has approved “generic listings standards” that will clear the way for spot crypto ETFs to launch, reported Bloomberg’s ETF expert Eric Balchunas on Wednesday.

    The move allows exchanges to list ETPs holding spot commodities, including digital assets, without requiring individual SEC approval for each product. It also eliminates the lengthy, case-by-case approval process that previously required months or years.

    “This is the crypto ETP framework we’ve been waiting for,” commented James Seyffart, who added:

    “Get ready for a wave of spot crypto ETP launches in coming weeks and months.”

    SEC Smoothing The Path For Crypto

    Basically, if the asset has a futures contract trading on a regulated exchange such as Coinbase for six months, it will be allowed to become a spot ETF, he explained. Aside from Bitcoin and Ethereum, there were 12 crypto assets trading as futures on Coinbase, which now have an easier path to becoming spot ETFs.

    “By approving these generic listing standards, we are ensuring that our capital markets remain the best place in the world to engage in the cutting-edge innovation of digital assets,” said SEC Chairman Paul Atkins.

    “This approval helps to maximize investor choice and foster innovation by streamlining the listing process and reducing barriers to access digital asset products within America’s trusted capital markets.”

    Nova Dius President Nate Geraci also applauded the move:

    “First, this SEC should be applauded for moving so quickly to implement a generic listing standards framework.”

    Two years ago, the previous SEC was still battling Grayscale over a spot Bitcoin ETF, he said before adding its amazing how far we’ve come.

    The regulator also approved the Grayscale Digital Large Cap Fund, which holds spot digital assets based on the CoinDesk 5 Index, and afternoon-settled Bitcoin ETF options. However, it delayed the decision on the Truth Social Bitcoin ETF.

    Altcoin ETFs Due Today

    This week is a big one for altcoin ETFs with two highly anticipated launches today.

    The REX-Osprey XRP ETF (XRPR) and the REX-Osprey Dogecoin ETF (DOJE) are both expected to begin trading on Thursday.

    It will be a first for a spot XRP fund and a spot meme coin fund in the United States, and analysts expect a slew of them to follow.

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  • Solana (SOL) Has the Perfect Recipe for a Massive Rally, Bitwise’s Matt Hougan

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    Solana (SOL) has climbed nearly 30% over the past month and is aiming to reclaim its early 2025 all-time high.

    The rally adds weight to Bitwise Chief Investment Officer Matt Hougan’s prediction that the crypto asset could be gearing up for an explosive end-of-year rally, as he believes that all the right “ingredients “are falling into place for a repeat of the same playbook that drove Bitcoin and Ethereum to massive gains.

    Solana’s End-of-Year Rally

    In the latest report, Hougan argued that the “recipe” over the last 18 months has been simple: strong demand from exchange-traded products (ETPs) and corporate treasury purchases consistently outstripping new token issuance, creating powerful supply-and-demand imbalances.

    Bitcoin saw this play out from $40,000 in early 2024 to over $115,000 today, while Ethereum tripled in price after institutions began piling in earlier this year. Solana, he contends, is next in line to benefit from this recipe.

    Several heavyweight issuers, including Bitwise, Grayscale, VanEck, Franklin Templeton, Fidelity, and Invesco/Galaxy, have filed to launch spot SOL ETPs, with the SEC’s decision deadline set for October 10, 2025. If approved, Q4 could see multiple SOL ETPs hitting the market at once, which is expected to open the floodgates for mainstream inflows.

    At the same time, Galaxy Digital, Jump Crypto, and Multicoin Capital recently pledged $1.65 billion to fund Forward Industries, a new publicly traded SOL treasury company tasked with buying and staking SOL to generate yield.

    The appointment of Kyle Samani, Multicoin Capital’s co-founder and long-time Solana advocate, as chairman positions him to play the same evangelist role for Solana that Michael Saylor did for Bitcoin and Tom Lee for Ethereum. That kind of high-profile media presence could supercharge investor awareness and adoption.

    Beyond financial vehicles, the exec also went on to highlight that Solana offers a strong fundamental pitch – it is a high-throughput, low-cost programmable blockchain capable of handling tokenized assets, stablecoins, and DeFi at speeds rivaling centralized systems.

    A recent technical upgrade slashed transaction finality from 12 seconds to just 150 milliseconds, which positioned it among the fastest blockchains globally, with sub-penny fees and no reliance on Layer 2 workarounds.

    Setup Too Attractive to Ignore

    While critics argue this comes with centralization risks, Hougan said that Solana currently ranks third in stablecoin liquidity, fourth in tokenized assets, and has seen tokenized AUM jump 140% this year.

    The Bitwise CIO deemed Solana’s comparatively small size a major catalyst. This is because at a $116 billion market cap, SOL is just one-twentieth the size of Bitcoin, meaning inflows have an outsized impact.

    Forward Industries’ planned $1.65 billion purchase, for example, is equivalent to $33 billion flowing into Bitcoin. While Solana’s inflation rate of roughly 4.3% is higher than Bitcoin’s or Ethereum’s, the demand-side momentum could far outweigh this factor. As such, Hougan argues that SOL’s setup is still attractive.

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    Chayanika Deka

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  • Why Do Ripple ETFs Face Constant Delays? XRP Army Weighs In

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    The US Securities and Exchange Commission continues to delay making a decision on countless spot crypto ETFs, including over a dozen that want to track the performance of Ripple’s native token.

    These postponements come even after the leadership changes at the agency following Trump’s presidential victory and Gary Gensler’s departure. So why is this? A popular XRP Army member outlined his take on the matter.

    Why the Delays, SEC?

    Recall that the US securities watchdog went on a delaying spree in mid-August, by extending the deadlines for numerous spot XRP ETF applications to October, which urged the issuers to make several changes to their applications. This was just the start, as the SEC delayed Franklin’s filing as well earlier this week, whose deadline is now set for November instead of September 17.

    John Squire, a popular and vocal member of the XRP Army, decided to dig a little deeper into these postponements, especially the Franklin ETF. He noted that the agency “almost always” delays first-round ETF filings, as it did multiple times for the applications for Bitcoin and Ethereum before eventually approving them. This helps it buy some time for public comments and more in-depth internal review, he added.

    Squire, who has over 500,000 followers on X, believes there’s political pressure because once the SEC approves the XRP ETFs, this would equal recognizing institutional demand for the asset.

    “The SEC drags its feet to avoid moving ‘too fast’ in a hot political year.”

    He added that the agency wants “clarity on custody, settlement, and surveillance-sharing agreements,” as it aims to check every box before approval.

    Delays Are Not Rejections

    Squire emphasized that even though the Commission has delayed numerous ETF applications, it hasn’t rejected them, which should be considered a positive sign. Both Bitcoin and Ethereum went through similar procedures before the inevitable green lights in 2024.

    The popular X user indicated that Wall Street wants exposure to XRP and concluded that Ripple ETFs are “inevitable.”

    ETF experts and Polymarket odds tend to agree with his bold statement. Nate Geraci from the ETF Institute recently said that the actual chances for XRP ETFs to reach the US markets this year are closer to 100%, while the betting platform is currently not far from that number.

    Ripple ETF Approval Odds on Polymarket
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  • CleanCore’s Dogecoin Treasury Rockets: 500 Million DOGE Bought, 1 Billion Target in Sight

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    CleanCore Solutions has reached the halfway mark in its plan to acquire up to 1 billion Dogecoin within 30 days, as it announced its latest purchase of 500 million DOGE.

    This acquisition follows a previous purchase of 285.42 million DOGE.

    CleanCore’s DOGE Push

    The treasury is backed by the Dogecoin Foundation and its official corporate arm, House of Doge. It was created to strategically accumulate DOGE in anticipation of growing adoption and utility.

    According to the official press release, CleanCore’s long-term goal is to secure up to 5% of Dogecoin’s circulating supply and position the company as a leading digital asset treasury to advance DOGE’s role in global finance. The treasury, which is securely custodied on Bitstamp via Robinhood’s platform, allows CleanCore to execute disciplined accumulation strategies while supporting broader market growth.

    In an official statement, Marco Margiotta, Chief Investment Officer of CleanCore and Chief Executive Officer of House of Doge, said,

    “Crossing the 500 million DOGE threshold demonstrates the speed and scale at which ZONE is executing its treasury strategy. Our vision is to establish Dogecoin as a premier reserve asset while supporting its broader utility across payments, tokenization, staking-like products, and global remittances.”

    House of Doge is developing initiatives that aim to unlock advanced real-world use cases for the OG meme coin, which the company believes will drive utility-driven demand in the coming months. CleanCore explained that these purchases are part of a carefully planned strategy to capitalize on DOGE’s expanding role in digital finance, while steadily building a strong corporate holding.

    CleanCore’s DOGE purchase comes amid a nearly 22% rally over the past week, as the meme coin climbed above $0.26. Market momentum is also being fueled by anticipation of the first-ever Dogecoin ETF, though its launch has been delayed until next week, according to Bloomberg analyst Eric Balchunas.

    For the uninitiated, the REX-Osprey Doge ETF, filed by Osprey Funds and Rex Shares, will hold a mix of DOGE and DOGE derivatives via a Cayman Islands subsidiary.

    Bullish Momentum in Dogecoin

    A crypto analyst called “World of Charts” believes DOGE is showing strong momentum and is currently testing an important resistance level near $0.28. According to the analyst, if the meme coin successfully manages to break this resistance, it could rally further toward $0.50 in the coming days, in a potentially sharp short-term price surge.

    Meanwhile, market commentator Trader Tardigrade observed early signs of increasing trading volume in DOGE on the weekly chart. According to the analysis, this uptick in volume could signal strong potential for price appreciation in the coming weeks.

    He also highlighted a breakout in Dogecoin’s Money Flow Index (MFI), which suggested a surge in buying pressure.

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  • SEC Stalls XRP and DOGE ETF Rollout: How They Differ from BTC and ETH Counterparts

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    The rollout of new crypto ETFs tied to Ripple’s XRP and Dogecoin (DOGE) has hit delays, exposing the hurdles facing digital assets outside of Bitcoin (BTC) and Ethereum (ETH).

    While both funds were expected to be milestones for their respective communities, the handling of them by the U.S. Securities and Exchange Commission (SEC) shows the gulf between experimental products and the more established spot BTC and ETH ETFs already trading in the country.

    SEC Extends XRP ETF Deadlines as DOGE Fund Faces Short Delay

    On September 10, the SEC extended its review of the Franklin XRP ETF, moving the final decision deadline from September 15 to November 14, 2025. The regulator cited the need for more time to evaluate comments and potential risks.

    It marks the second extension since the product was first filed in March, leaving 15 XRP ETF applications in limbo. However, even with the delay, bettors on Polymarket have assigned more than a 90% chance of approval by year-end, suggesting that investors are still confident Ripple will secure its own ETF before 2025 is done.

    While XRP awaits clarity, attention has shifted to Dogecoin. According to Bloomberg ETF analyst Eric Balchunas, the Rex-Osprey DOGE ETF (DOJE), initially meant to hit the market on September 12, is now scheduled to launch mid-next week, likely September 18.

    Recent data from Santiment shows whales have been accumulating the OG meme coin in anticipation of the ETF, with holdings by wallets containing between one and ten million DOGE reaching a four-year high.

    Different Structures, Different Outcomes

    The SEC’s approach highlights a key divide in how crypto ETFs reach the market. For example, spot Bitcoin and Ethereum ETFs are organized as grantor trusts under the Securities Act of 1933. This ‘33 Act framework is now the industry standard for physically backed crypto products, but it involves a lengthy review process that includes a formal comment period.

    Meanwhile, according to industry expert James Seyffart, the Dogecoin product is structured under the Investment Company Act of 1940, allowing it to use a unique framework as a Registered Investment Company (RIC), which is different from the standard setup used by the more established crypto ETFs.

    Its strategy involves gaining spot market exposure through a Cayman Islands subsidiary, a legal innovation designed to help bypass regulatory constraints. This alternative arrangement can allow for faster time-to-market and different operational mechanics, such as the ability to hold derivatives alongside spot assets.

    The regulatory arbitrage explains why a fund for Dogecoin, an asset originally created as a joke, might trade in the U.S. before one for XRP, which has a more developed ecosystem and legal precedent.

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    Wayne Jones

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  • Breaking XRP ETF Update as SEC Deals Fresh Blow to Ripple

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    TL;DR

    • The US Securities and Exchange Commission continues to delay making a decision on various applications for spot XRP ETFs.
    • With 15 such filings sitting on the agency’s desk, though, experts are convinced that Ripple will have its own spot exchange-traded fund by the end of the year.

    The update from the SEC concerns particularly the Franklin XRP ETF, which was filed for review in March this year. The Commission initially postponed making a decision in April this year, seeking further comments from issuers and potential investors.

    It initiated proceedings to determine whether to approve or reject the applications in June. The regulator had 180 days since the initial filing (March) to announce its final decision, and the deadline was September 15.

    However, the new delay posted earlier on September 10 informs that the SEC has extended the review period for another 60 days, which means that the new deadline is November 14, 2025. Most other XRP ETF applications have a deadline for October this year.

    XRP’s price has remained largely unaffected by the latest setback. The asset climbed to just over $3 earlier today and has remained there in the past hour or so after the SEC news went live.

    Despite today’s development, Polymarket data still shows that the overall chances for a spot XRP ETF to be approved by the end of the year are north of 90%.

    Ripple ETF Approval Odds on Polymarket

    The Commission took a similar approach for another crypto ETF application. The agency delayed making a decision on staking for the world’s largest ETH ETF, BlackRock’s ETHA.

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    Jordan Lyanchev

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  • 5 New Bitwise Crypto ETPs Now Listed on Swiss Stock Exchange

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    Operational for 8 years and offering a diverse range of financial instruments to investors, Bitwise is expanding its offerings by listing several new products on a prominent stock exchange in Switzerland.

    The products will offer exposure to some of the leading crypto assets, along with an index fund that tracks top performers.

    More Development

    The asset manager with a portfolio of over 30 crypto investment products, announced yesterday that it will be broadening its European market reach by listing five crypto exchange-traded products (ETPs) on the SIX Swiss Stock Exchange.

    This inclusion will allow investors to diversify their trading strategies by tapping into staking and index ETPs. Bitwise’s assortment of financial instruments will merge with traditional portfolios, granting exposure to the cryptocurrency asset class.

    Last month, the company reached the milestone of $15 billion in assets across its suite of financial products, an impressive jump of 200% in less than a year, compared to October 2024 levels as reported.

    Switzerland is a valuable market for Bitwise, as the landlocked country has been an early adopter of digital assets. It saw the first-ever crypto ETF launch in 2018, Bitcoin custody services in 2021, and also a BTC embassy in partnership with El Salvador in 2022.

    “The five flagship products we have listed in Switzerland will broaden options for investors looking to benefit from the full potential of crypto markets.

    Europe is rapidly opening up for digital assets, and Switzerland is a leading and crucial market at the heart of the continent.

    I’m extremely pleased that we’re developing our product suite on the widely respected SIX exchange, with new options such as staking and index products.”- Ronald Richter, Regional Director of European Investment Strategy.

    The Listings

    The instruments that are listed include a Bitcoin ETP (BTC1), Solana, and Ethereum Staking (ET32, BSOL), and a physical XRP product (GXRP). Additionally, the MSCI Global Digital Assets Select 20 (DA20) will track the index fund under the same name, representing the performance of the top 20 investable cryptocurrencies.

    Investors will be able to gain exposure to the underlying assets of the products without having a crypto wallet. Each of them is fully backed by reserves held in cold wallets and will be redeemable through a physical mechanism (via a trustee), similar to precious metal exchange-traded commodities (ETCs).

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    Dimitar Popov

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  • Cardano (ADA) News Today: September 4th

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    The tenth-largest crypto asset by market capitalization experienced a red week, with varying forecasts about its future direction.

    At the same time, the foundation behind the underlying blockchain and its co-founder presented some interesting developments.

    Going Up Or Down?

    While the blockchain’s native token has dropped about 6% over the past week, according to data taken at print time from CoinMarketCap, it is still up 159% for the year.

    Source: CoinMarketCap

    Sentiment on X regarding a bear or bull case seems to be a mixed bag, with one prominent market intelligence platform noting that traders may be turning bearish. However, they also noted a key point: prices often deviate from expectations, so it could point to the contrary.

    One chartist pointed to ADA printing an inverted head and shoulders pattern, which is usually considered a bullish reversal, signaling a likely uptrend.

    Another analyst shared a graph showcasing bear market performance over the past few years, stating that several alts have outperformed Cardano’s token.

    A price prediction for the upcoming week places support levels around $0.77-0.70 and resistance roughly at $0.90-$1.

    E-Books on The Blockchain

    The non-profit organization behind the blockchain, the Cardano Foundation, announced a new use case within the ecosystem, in the form of tokenized e-books, by partnering with the team behind Book.io.

    By introducing Decentralized Encrypted Assets (DEAs), the tide will shift for writers and consumers alike, as digital books will be transformed into ownable and transferable assets, rewriting the distribution of intellectual property and royalties.

    The first pilot of this new protocol was already unveiled at the 2025 Cardano Ecosystem Guide earlier in January, where 2,000 copies of the book “I Can Aiken” were distributed.

    ETF Finally Coming?

    Grayscale, the world’s largest digital asset investment firm, with over $50 billion in assets under management (AUM), has filed an S-1 form with the SEC for an ADA exchange-traded fund (ETF).

    This initial ETF filing was initiated in February with an application to the New York Stock Exchange (NYSE). Following numerous delays, we are now approaching the decision deadline, set for October 26th this year, which was postponed from the end of August.

    As per Polymarket data taken at the time of writing, the chance of approval stands at 87% after the recent dip toward 60%.

    Source: Polymarket

    Cleared of Wrongdoings

    The Cardano blockchain’s co-founder, Charles Hoskinson, shared a post presenting the results of an investigation carried out by law firm McDermott Will & Schulte and accounting company BDO for the ADA Voucher Conspiracy.

    These vouchers were sold in Asia between 2015 and 2017 to raise funds, and all of them were redeemed once the network launched. The investigation was initiated as a result of claims in May this year from an NFT artist that Hoskinson used a secret “genesis key” during a 2021 network upgrade (the Allegra hard fork) to seize 318–350 million ADA, about 0.2% of the initial coin offering (ICO) supply.

    The audit found that 99.7% of vouchers were redeemed, uncovered no transgressions, and cleared the project of misconduct.

    “After review of tens of thousands of documents, a forensic on-chain and traditional forensic analysis, and eighteen formal interviews of current employees, former employees, Voucher Holders, service providers, community members, and other third parties, the Investigation determined that each of the allegations related to the Topics of Investigation does not have any basis.”

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  • XRP ETF Inflows Will Surprise Many Once Approved, Predicts Former US Senate Candidate

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    John E. Deaton, a cryptocurrency-focused lawyer who ran against Elizabeth Warren for a Senate seat in Massachusetts, believes XRP ETFs will attract substantial inflows once these products are greenlighted by the US Securities and Exchange Commission.

    The number of active applications continues to grow, with the most recent one aiming to launch a Monthly Option Income ETF focused on Ripple’s native token.

    A Lot of Filings

    Deaton’s comments came in response to the Wolf of All Streets’ remarks that the total number of applications for spot Ripple ETFs has grown to 15. However, that information is a bit dated as another filing reached the US SEC desks this week.

    As reported yesterday, Amplify ETFs filed for an XRP Monthly Option Income ETF, which will work differently from a spot one. It doesn’t rely so much on big gains for the underlying asset. Instead, it uses trading strategies to generate steady, predictable, but capped monthly income for its investors.

    Despite the increasing number of applications, the US regulator continues to delay making a decision on almost all of them. The next major deadlines are scheduled for October, following the SEC’s request for comments from issuers, which has led to recent filing updates.

    Inflows Will Indeed Surprise You?

    Although Deaton wasn’t specific whether the inflows will surprise investors in a positive manner, it’s safe to assume so, given his history with the XRP Army. After all, he was among the most prominent attorneys representing XRP holders in the legal battle between the SEC and Ripple.

    Obviously, that’s up for debate since the ETFs are not officially approved. However, there has indeed been notable demand for XRP, which was evident from the futures ETFs as well as the recent record for the asset on CME futures.

    So far, we have seen only two cryptocurrencies with spot exchange-traded funds tracking their performance. The market leader started with massive inflows since the BTC ETFs’ inception in January 2024. In contrast, the ETH ETFs had a sluggish start, and they picked up the pace almost a year later.

    For now, the XRP Army is left with having to wait for an official SEC decision, but the crowd seems to be quite optimistic with odds on Polymarket surging to 87% for an approval by the end of the year.

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    Jordan Lyanchev

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  • Canary Files for US-Focused Crypto ETF

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    Canary Capital has made another crypto-related filing with the U.S. Securities and Exchange Commission (SEC).

    The firm has applied for an ‘American-Made Crypto ETF,’ which will include digital assets with ties to the United States.

    Made-in-America ETF

    A recent document shows that the asset manager has lodged an S-1 registration statement with the SEC to launch the Canary American-Made Crypto ETF (MRCA). The proposed fund will focus on projects in the Made-in-America Blockchain Index.

    Nate Geraci, president of NovaDius Wealth Management, explained that this will include crypto assets that originate in the U.S., coins where the majority of their supply is minted in the country, through their native validation mechanism, and ones where the majority of the protocol’s operations are in the region. He added that “next year’s gonna be wild,” referencing the upcoming developments in the ETF market.

    Bloomberg analyst Eric Balchunas also commented on the company’s submission, noting that the success of current crypto ETFs has opened the door to a wave of creative combinations. However, he admitted it’s unclear which coins would qualify for the Made-in-America ETF.

    Canary shared that custody will be handled by a South Dakota-chartered trust company, while CSC Delaware Trust Company will serve as the fund’s trustee. The shares are expected to trade on Cboe BZX under the MRCA ticker. The asset manager also indicated that the trust may seek to generate staking rewards by validating transactions on the respective blockchain networks of the portfolio digital assets.

    U.S. Crypto ETFs to Gain from Favorable Policies

    In its filing, Canary Capital proposes that U.S.-based crypto projects may be better positioned due to increasing regulatory clarity and political support, especially following recent pro-crypto initiatives under President Donald Trump. The firm suggests that projects with strong American ties are more likely to engage constructively with regulators, potentially reducing legal risks.

    The American-Made Crypto ETF represents the latest in a long list of crypto funds that the asset manager is looking to offer. This development follows another application for a Trump Coin ETF, tied to the President’s meme coin launched in January 2025. The company has also lodged for such investment products linked to Solana (SOL), Ripple’s XRP, SUI, and Tron (TRX), all of which are currently under SEC review.

    Elsewhere, experts have predicted an upcoming surge in approvals for these funds over the next two months. Geraci pointed to several factors driving the optimism, including the nearing completion of a full regulatory framework for spot crypto ETFs and a clearer regulatory landscape.

    This occurs against a backdrop of good performance for these investment products so far in 2025. A recent report revealed that crypto-related offerings now make up 10 of the top 20 ETFs in the overall market based on inflows.

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    Wayne Jones

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  • Are Ripple XRP ETFs Inevitable After These Positive Updates?

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    TL;DR

    • Following the recent delays by the US Securities and Exchange Commission, several filings for Ripple ETFs have been updated by the companies behind them.
    • The asset’s price has also staged a remarkable recovery following the recent local bottom, especially after yesterday’s update on the legal case against the securities regulator.

    ETF Updates

    Recall that just earlier this week, the SEC delayed making a decision on several XRP ETF applications filed by companies such as Bitwise, Canary, Coinshares, and Grayscale. These entities were quick to respond, according to Bloomberg’s ETF expert James Seyffart, as they have already updated their respective filings.

    He believes this is “almost certainly” due to the feedback received by the Commission. The cryptocurrency community is familiar with this process, as the BTC and ETH ETF issuers had to endure essentially the same procedures before their respective funds saw the light of day. Consequently, Seyffart categorized these updates as a “good sign, but also mostly expected.”

    Fox Business’ Eleanor Terrett shared Seyffart’s post, adding that these updates “make sense” to be done now, as the new deadline for the SEC is set for October, and it is approaching fast.

    SEC Legal Case and XRP Moves

    Ripple and the SEC had another interaction yesterday. As reported, the Second Circuit finally approved the two parties’ joint stipulation of dismissal, which was filed earlier in August. According to experts, this is most likely the final step needed before the official conclusion of the case. The duo had filed such dismissals in the past as well, but Judge Torres denied them at first.

    XRP’s price reacted immediately to the news yesterday. The asset had tumbled to a multi-week low of under $2.80 but skyrocketed to $3.10 within minutes. It’s worth noting that it also benefited from the overall market revival following the Jackson Hole speech by Fed Chair Jerome Powell.

    Despite retracing slightly since that local peak, XRP still trades above $3.00, which is a crucial support-turned-resistance-turned-support level.

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  • Bitcoin Spot ETFs Approved After 14 Years- The Journey So Far

    Bitcoin Spot ETFs Approved After 14 Years- The Journey So Far

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    The year 2024 marks the dawn of a new era, not just for technology but for finance, as a major victory was achieved for Bitcoin Spot ETFs (Exchang-Traded Funds). It’s now the era where the past will be appreciated for its foresight and doggedness. 

    When the pioneer cryptocurrency and digital currency, Bitcoin launched in January 2009, it was nothing like a real-world asset or of an ‘agreed’ digital value, but an almost neglected bag of gold as it faced enough rejection from all phases. Even with Satoshi’s Whitepaper, Bitcoin wasn’t given a cordial welcome in the world of finance.

    However, for all its promise, BTC remained shrouded in an air of mystery and skepticism. It took several years for Bitcoin to cement its value in the world of technology, finance, and the digital economy, assuming a giant role amidst many other cryptocurrencies. 

    However, On January 10, 2024, the SEC, in its official filing, approves all 11 Bitcoin Spot ETFs. This long-awaited green light from the US SEC marked a watershed moment, not just for Bitcoin, but for the entire cryptocurrency industry. 

    The 14-year journey to this point was arduous and paved with skepticism; regulatory hurdles loomed large, with the SEC citing concerns about market manipulation and investor protection as justification for repeated rejections. Attempts like Bitcoin futures ETFs offered limited exposure, failing to capture the true essence of a spot ETF’s direct price tracking. 

    Bitcoin Spot ETF Explained

    The recent approval of Bitcoin spot ETFs has stirred excitement across the financial landscape. But what exactly are these instruments, and what impact will they have on the future of BTC and, more broadly, on the investment landscape?

    Bitcoin “Spot” ETFs (exchange-traded funds), unlike their futures-based counterparts, don’t track the price of Bitcoin futures contracts. Instead, they take a more direct approach, holding the underlying asset – Bitcoin itself – in secure digital custodians. 

    This eliminates the potential for “basis risk,” a phenomenon where futures prices deviate from the actual cash price of Bitcoin. Simply put, Spot ETFs offer a more straightforward and transparent way to gain exposure to BTC’s price movements, akin to traditional gold-backed ETFs.

    Bitcoin Spot ETFs function similarly to their traditional counterparts, such as those tracking stock market indices. They pool investor capital, purchasing Bitcoin and holding it securely. Each share of the ETF represents a fractional ownership of the pooled Bitcoin, allowing investors to participate in the market without directly holding or managing the cryptocurrency themselves. This eliminates technical complexities and potential security risks, particularly for those with limited crypto experience, potentially broadening the base of Bitcoin investors. 

    The Genesis Of Bitcoin ETFs (Early Days and Conceptualization – 2013-2017)

    The earliest sparks of a Bitcoin ETF concept date back to 2013, when the Winklevoss twins first proposed their Gemini ETF. Winklevoss twins, Cameron and Tyler, both tech entrepreneurs with a vision in 2013, submitted the first application for a Bitcoin ETF, the Gemini ETF, sparking the decade-long journey to regulatory approval. 

    This audacious proposal was outrightly rejected by the SEC during the tenure of its former chairman, Jay Clayton, who later resigned in 2020 and became a supporter of cryptocurrency. Interestingly, Clayton is now actively involved in crypto regulations when he joined the advisory board of Fireblocks, a crypto custody platform.

    The following years were a crucible of innovation and uncertainty. While Bitcoin’s market capitalization surged, attracting both fervent supporters and cautious observers, the SEC remained hesitant. The regulator’s concerns about market manipulation, price volatility, and the nascent state of blockchain technology were cited as justifications for repeated rejections of subsequent ETF proposals, including Grayscale’s attempt to convert its Bitcoin Investment Trust into a spot ETF.

    Yet, amidst the rejections, there were flickers of progress. Technological advancements improved blockchain security and custody solutions, addressing initial concerns about vulnerability and potential wash trading. The global adoption of Bitcoin, particularly in Canada with its approval of Spot ETFs in 2021, served as a compelling case study for increased accessibility and market stability.

    This period also saw the SEC’s stance slowly evolve. The appointment of Gary Gensler as SEC Chair in 2021 brought a newfound openness to dialogue and exploration of potential regulatory frameworks for cryptocurrencies. The approval of the first US-listed futures-based bitcoin ETF in October 2021, despite its limitations, offered a glimpse of what could be.

    The Turning Point: A Decade Of Persistence Pays Off (2018-2023)

    While the 2017-2018 crypto boom and subsequent crash sent shockwaves through the industry, it also served as a crucible, forging resilience and fueling a renewed focus on compliance and innovation. Industry figures like Grayscale, undeterred by previous rejections, continued to refine their proposals, incorporating crucial safeguards and addressing regulatory concerns.

    This relentless pursuit of approval finally yielded results in 2023. In May, Cathie Wood’s ARK Investments filed for a spot bitcoin ETF, setting a definitive deadline for the SEC’s decision. 

    Then, in June, BlackRock’s entry into the arena with its own Spot Bitcoin ETF application sent ripples of excitement through the financial world. This move by a traditional financial giant signalled a crucial shift in sentiment, demonstrating growing institutional confidence in BTC’s potential.

    The months that followed were a whirlwind of activity. A flurry of applications from firms like Fidelity and Invesco poured in, fueled by the momentum of BlackRock’s move and the prospect of imminent approval. In August, a pivotal legal victory for Grayscale in the D.C. Circuit Court further strengthened the case for spot ETFs, forcing the SEC to re-examine its previous rejections.

    Finally, the SEC, in a historic decision, greenlighted 11 spot bitcoin ETF proposals, including those from BlackRock, Fidelity, and VanEck. This moment marked the culmination of a decade-long struggle, signifying the mainstream acceptance of investor participation in the cryptocurrency space.

    Ripples Across The Crypto Landscape: Implications Of Bitcoin Spot ETFs (2024)

    The arrival of spot ETFs has cast a wide net, sending ripples across various spheres of the financial world. There are a lot of potentials and challenges presented by spot ETFs, vital impact on market stability, institutional adoption, and regulatory oversight. There are positive predictions that the Bitcoin market cap could rise above $1 Trillion after the launch of Bitcoin Spot ETFs.

    Let’s contemplate the broader significance of this pivotal moment, what it means for the future of finance, and its relationship between technology and traditional financial systems here.

    Investor Crossroads

    For retail investors, Spot ETFs offer a convenient and familiar way to participate in the Bitcoin market without directly holding the cryptocurrency. This opens the door to broader adoption and increased liquidity, potentially leading to smoother price discovery and reduced volatility. The influential American magazine, Forbes predicted the BTC price will trade as high as $80,000 as a result of Bitcoin Spot ETFs’ approval. 

    The year 2024 is also shaping up to be a good one, if not one of the best seasons for cryptocurrency, especially Bitcoin, as it’s the season for Bitcoin halving, which will have another mega impact on the crypto industry. 

    However, the inherent risks of Bitcoin, including price fluctuations and potential exposure to fraud, must not be underplayed. Investors should approach spot ETFs with cautious optimism, ensuring a proper understanding of the technology, market dynamics, and associated risks before venturing in.

    Institutional Embrace Bitcoin

    The arrival of spot ETFs marks a significant step towards institutional acceptance of Bitcoin. The involvement of established financial institutions like BlackRock and Fidelity lends credibility to the cryptocurrency and paves the way for further integration with traditional financial products and services.

    Concerns remain about the impact of institutional involvement on market manipulation and potential conflicts of interest. However, regulatory oversight and robust compliance frameworks will be crucial in ensuring a fair and transparent market for all participants.

    Market Redefined

    Spot ETFs could potentially lead to greater market stability by introducing institutional investors and their risk management expertise. This could mitigate some of the inherent volatility of the cryptocurrency market, attracting a wider range of investors and fostering sustainable growth.

    The SEC’s approval represents a cautious acceptance, not a blank check. Further regulatory clarity and potential adaptation of existing frameworks might be required to effectively address the unique challenges posed by the integration of cryptocurrencies into mainstream financial systems.

    Beyond Bitcoin

    Spot ETFs could act as a gateway for investors to explore the broader crypto landscape. Their familiarity and ease of access might encourage exploration of other promising blockchain-based projects, accelerating the overall growth and development of the cryptocurrency ecosystem.

    The success of spot ETFs will hinge on the continued evolution of blockchain technology and associated infrastructure. Scalability, security, and user experience will remain key areas of focus for ensuring the smooth functioning and widespread adoption of crypto-based financial products.

    The 11 Spot Bitcoin ETFs products (with their ticker symbols) approved  on January 10, 2024, are:

    • Blackrock’s iShares Bitcoin Trust (IBIT)
    • ARK 21Shares Bitcoin ETF (ARKB)
    • WisdomTree Bitcoin Fund (BTCW)
    • Invesco Galaxy Bitcoin ETF (BTCO)
    • Bitwise Bitcoin ETF (BITB)
    • VanEck Bitcoin Trust (HODL)
    • Franklin Bitcoin ETF (EZBC)
    • Fidelity Wise Origin Bitcoin Trust (FBTC)
    • Valkyrie Bitcoin Fund (BRRR)
    • Grayscale Bitcoin Trust (GBTC)
    • Hashdex Bitcoin ETF (DEFI)

    Conclusion

    The approval of Bitcoin spot ETFs is a watershed moment, not just for the cryptocurrency itself, but for the entire financial landscape. It marks a new chapter in the saga of Bitcoin, one where its disruptive potential can be harnessed within the framework of established financial systems.

    Also, this path forward is paved with both opportunities and challenges. Navigating regulations and addressing investor risk concerns are important to ensure seamless integration with traditional financial systems and regulatory bodies, which will be crucial in determining the ultimate success of this technological leap.

    Final Thoughts

    The approval of Bitcoin spot ETFs is not merely a regulatory green light; it’s a resounding declaration of Bitcoin’s arrival on the main stage of finance.

    Related Reading: Celestia Network: How To Stake TIA And Position For 5-Figure Airdrops

    However, the journey is far from over. This approval is a milestone, not a destination. As we stand at this turning point, it’s important to remember the spirit of defiance that birthed BTC. It was born from a desire for autonomy, for freedom from centralised control, and for a more equitable financial system. 

    While ETFs offer a bridge between this decentralized world and the established financial order, it’s crucial not to lose sight of these core principles.

    BTC price struggles post-Bitcoin Spot ETF approval | Source: BTCUSD on Tradingview.com

    Featured image from Cryptopolitan, chart from Tradingview.com

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Scott Matherson

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