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Historic Flip: Bitcoin ETFs On Pace To Surpass Gold ETFs In AUM

by admin August 30, 2025

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In the dynamic financial sector, Bitcoin ETFs are rapidly gaining ground against their gold counterparts, with inflows pushing total assets under management toward record highs. Bitcoin ETFs are set to overtake gold ETFs in total assets under management.

Bitcoin ETFs Cement Role As Institutional Gateway To Crypto

Bitcoin Exchange-Traded Funds (ETFs) are on the brink of making history globally. In an X post, the Kobeissi Letter, an industry-leading commentary on global capital markets, has revealed that BTC ETFs are on track to surpass Gold ETFs in assets under management (AUM) for the first time in history, marking a historic milestone in global markets. Over the past 12 months, AUM in the largest cryptocurrency ETFs has doubled to $150 billion, while gold ETFs have climbed 40% to a record of $180 billion.

The comparison highlights how rapidly momentum has shifted. Just three years ago, gold ETFs were five times larger than Bitcoin ETFs. Presently, with accelerating inflows into digital asset products, that gap is narrowing at a historic speed.

If current trends continue, Bitcoin ETFs could surpass gold ETFs as early as next year. This is a symbolic flip that underscores the rise of crypto from speculative asset to mainstream portfolio allocation.

BTC ETFs growth against Gold ETFs | Source: Chart from The Kobeissi Letter

Lately, ETFs are proving to be the engine behind the current crypto bull market. According to Ucan_Coin, BlackRock, the world’s largest asset manager, oversees nearly 2,000 funds, with about 1,400 of them being ETFs. Clients buy into these funds, while BlackRock earns fees on the assets under management.

However, the Bitcoin Spot ETF fee is just 0.25%, but the power lies in scale and liquidity. Over the last two years, ETFs have provided the critical fuel for this rally, with nearly 20% of all liquidity entering crypto now flowing directly from ETF products.

As Ucan_Coin highlights, BlackRock’s IBIT stands out. As the chart demonstrates, IBIT is the locomotive pulling the entire market, driving inflows and setting the pace for the broader bull run.

ETF Inflows Signal Rising Institutional Appetite For Bitcoin

The US spot Bitcoin ETFs are gaining remarkable momentum, while generating $5 to $10 billion in daily volume on their most active trading days. Pushpendra Singh, Co-founder of PushpendraTech and SmartViewAi, has explained that this surge is a clear sign that institutional investors are increasingly seeking regulated exposure to Bitcoin, and ETFs are rapidly becoming their preferred gateway.

Despite the ETF boom, Binance continues to dominate the spot market, processing between $10 to $18 billion in daily spot volume and holding a 29% market share. This is more than double the 13% market share currently held by US-based ETFs, and it puts Binance comfortably ahead of other major exchanges in terms of liquidity.

BTC trading at $108,525 on the 1D chart | Source: BTCUSDT on Tradingview.com

Featured image from Getty Images, chart from Tradingview.com

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August 30, 2025 0 comments

NFT Gaming

The Flippening? Ethereum ETFs Attract $4 Billion This Month, While Bitcoin Products Struggle

by admin August 30, 2025

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Ethereum (ETH) exchange-traded funds (ETFs) are set to close August 2025 with total net inflows exceeding $4 billion, significantly outpacing their Bitcoin (BTC) counterparts, which recorded more than $600 million in outflows during the same period.

Ethereum ETFs Outshine Bitcoin ETFs

According to data from SoSoValue, spot Ethereum ETFs have attracted $4.04 billion in net inflows so far this month. In contrast, spot Bitcoin ETFs saw $628 million in net outflows in August.

Among Ethereum-focused funds, BlackRock’s ETHA ETF leads the market with $16.88 billion in net assets as of August 28. Grayscale’s ETHE follows with $4.80 billion, while Fidelity’s FETH holds $3.56 billion.

The total net assets tied in spot ETH ETFs currently stands slightly above $29.5 billion. This figure represents almost 5.5% of Ethereum’s total market cap.

On the Bitcoin side, BlackRock’s IBIT remains the leader with $83.8 billion in net assets, followed by Fidelity’s FBTC at $22.45 billion and Grayscale’s GBTC at $20.01 billion.

Although BTC ETFs still dominate in overall value, the latest data suggests the gap between Bitcoin and Ethereum investment products is narrowing. If the current momentum continues, August 2025 could mark the month when ETH ETFs outperformed BTC ETFs by their widest margin yet.

One of the major factors driving Ethereum ETF inflows is ETH’s growing appeal as a balance sheet asset. Corporate adoption of ETH has accelerated this year, bolstering confidence in its long-term role in institutional portfolios.

US-based spot ETH ETFs recorded more than $4 billion in net inflows in August 2025 | Source: SoSoValue.com

This year, several notable companies announced plans to add ETH to their balance sheets. For instance, SharpLink Gaming recently doubled down on its ETH bet, adding another 56,533 ETH to enhance its ETH reserves.

Similarly, ETHZilla – an Ethereum treasury company – recently increased its total ETH holdings to more than 102,000 ETH. Data from CoinGecko shows that, currently, BitMine is the leading publicly-listed company with the largest ETH reserves – holding over 1.7 million ETH.

The top 10 publicly-listed companies with the largest ETH treasuries | Source: CoinGecko.com

Will ETH Surge Past $5,000?

Institutional sentiment toward ETH continues to strengthen. VanEck CEO Jan van Eck recently described ETH as “the Wall Street token,” highlighting its growing role in enabling stablecoin transfers across financial institutions.

Despite its recent rejection from close to $5,000, the overall demand for ETH remains vehemently strong. As a result, ETH reserves on exchange continue to dwindle at a rapid pace, which may lead to quick price appreciation for the digital asset in the near-term. At press time, ETH trades at $4,340, down 4% in the past 24 hours.

Ethereum trades at $4,340 on the daily chart | Source: ETHUSDT on TradingView.com

Featured image from Unsplash.com, charts from SoSoValue, CoinGecko and TradingView.com

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August 30, 2025 0 comments

NFT Gaming

There Are Now More Than 90 Crypto ETFs Pending SEC Approval, Led by XRP and Solana

by admin August 30, 2025

In brief

The SEC is mulling 90 applications for crypto ETFs, many focused on XRP, Solana, and other top altcoins.
Many of the funds are expected to be approved this year, according to industry experts.
Some will likely be shuttered due to lackluster inflows, a crypto startup CEO told Decrypt.

There is a growing stack of applications for exchange-traded funds that offer investors exposure to cryptocurrencies on the U.S. Securities and Exchange Commission’s desk, totaling 92 filings, according to Bloomberg ETF Analyst James Seyffart.

“You will almost certainly have to squint and zoom to see,” he said on X, while posting a screenshot of a spreadsheet that included various issuers, assets, and deadlines on Friday.

This year, asset managers have jockeyed to offer ETFs in the U.S. for cryptocurrencies beyond the ones approved for Bitcoin and Ethereum last year. They range from major altcoins like XRP and Solana—the most popular new targets, based on the list—to relatively obscure meme coins like Bonk and Donald Trump’s official token.

NEW: Here is a list of all the filings and/or applications I’m tracking for Crypto ETPs here in the US. There are 92 line items in this spreadsheet. You will almost certainly have to squint and zoom to see but best I can do on here pic.twitter.com/lDhRGEQBoW

— James Seyffart (@JSeyff) August 28, 2025

Although the SEC has delayed decisions on applications for several products this year, the regulator faces a final deadline on at least a dozen applications in October. Experts including Seyffart expect the SEC to approve a number of applications at that time.

In June, Seyffart said it’s a question of “when not if” for coins like Solana, XRP, and Litecoin. He portrayed them as near-locks, with 95% odds of approval this year.

ETFs for other coins, such as Dogecoin, Cardano, Polkadot, Hedera, and Avalanche, also have a strong change, Seyffart added, penciling in 90% approval odds for the same period.

Some crypto investors may be hopeful that the approval of an ETF for their coin of choice will lead to higher prices and broader adoption, potentially among financial institutions. Luca Prosperi, co-founder and CEO of stablecoin platform M0, is somewhat skeptical. He told Decrypt it’s likely that many crypto ETFs will shutter due to lackluster inflows.

“I don’t think many of them will be long-lived,” he said. “I think there are very few, if any, [digital] assets that are large and mature enough to support an ETF beyond Bitcoin, Ethereum, and Solana.”

Still, a bevy of ETF applications speaks to the ways that cryptocurrencies are becoming ingrained into traditional financial infrastructure over time, he added.

“Now that this sector is maturing, Wall Street is obviously trying to find ways to get common people exposure,” he said. “ETFs are great conduits.”

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August 30, 2025 0 comments

Crypto Trends

Spot Crypto ETFs See $1.4B Outflows As Bitcoin, Ether Slump

by admin August 25, 2025

Cryptocurrency investment products reversed an emerging inflow trend, with significant outflows last week as Bitcoin and Ether prices declined.

Global crypto exchange-traded products (ETPs) saw $1.43 billion of outflows last week, ending a two-week inflow run that brought in $4.3 billion, CoinShares reported on Monday.

The outflows came amid Bitcoin (BTC) dipping from above $116,000 on Aug.18 to $112,000 by the end of the trading week, while Ether (ETH) tumbled below $4,100 on Tuesday after starting the week at around $4,250, according to CoinGecko.

Last week’s losses marked the second-biggest outflows on record for spot Ether exchange-traded funds (ETFs), with almost $430 million withdrawn on Tuesday alone, according to SoSoValue.

Largest outflows since March

According to CoinShares’ head of research, James Butterfill, the $1.4 billion in outflows from crypto funds were the biggest losses since March 2025.

Butterfill attributed the sell-off to “increasingly polarized” investor sentiment over US monetary policy, with pessimism around the Federal Reserve’s stance driving $2 billion outflows early in the week.

Daily flows in spot Bitcoin ETFs versus spot Ether ETFs. Source: SoSoValue

“However, sentiment shifted later in the week following Jerome Powell’s address at the Jackson Hole Symposium, which was widely interpreted as more dovish than expected, sparking inflows of $594 million,” he added.

Shift in tone reflected in Ethereum

Butterfill said the shift in tone was more strongly reflected in Ether, which saw a sharp mid-week recovery, resulting in $440 million of outflows.

Bitcoin ETPs saw significantly bigger outflows, totaling more than $1 billion.

Crypto ETP flows by asset as of Friday (in millions of US dollars). Source: CoinShares

The analyst emphasized a notable change in investor sentiment toward Bitcoin and Ether given the month-to-date inflows, where Bitcoin has experienced $1 billion outflows versus Ether’s $2.5 billion of inflows.

Related: Bitcoin ETFs hit 5-day losing streak, but Pomp says BTC is oversold

“Inflows year-to-date for Ethereum represent 26% of total assets under management compared to just 11% for Bitcoin,” Butterfill added.

In the meantime, altcoin flows were mixed, with XRP (XRP) seeing $25 million in inflows, Solana (SOL) posting $12 million gains, while Sui (SUI) and Toncoin (TON) saw outflows of $13 million and $1.5 million, respectively.

Magazine: ETH ‘god candle,’ $6K next? Coinbase tightens security: Hodler’s Digest, Aug. 17 – 23

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August 25, 2025 0 comments

NFT Gaming

Bitcoin’s ETFs Kill the Transaction Fees, Punishing the Miners More

by admin August 25, 2025

Good Morning, Asia. Here’s what’s making news in the markets:

Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and analysis. For a detailed overview of U.S. markets, see CoinDesk’s Crypto Daybook Americas.

Bitcoin’s price is holding near records, but the chain itself is quiet. Glassnode data shows transaction fees have collapsed back toward decade lows, even as BTC flirts with six figures.

In past cycles, fee spikes tracked bull markets as traders bid for blockspace. This year, the fee curve is flat while price rises, a clear sign that onchain demand is no longer driving the market.

(Glassnode)

A new report from Galaxy Research shows median daily fees have fallen more than 80% since April 2024, with as much as 15% of daily blocks now clearing at just 1 satoshi per vbyte. Nearly half of recent blocks are not full, signaling weak demand for blockspace and a dormant mempool.

This is a sharp contrast to prior bull cycles, where price rallies translated into congestion and fee spikes.

The data confirms a structural shift: spot ETFs and custodians now hold more than 1.3 million BTC, and coins parked in those wrappers rarely touch the chain again.

At the same time, retail activity that once clogged the Bitcoin blockchain has migrated to Solana, where memecoins and NFTs benefit from cheaper and faster execution. The result, Galaxy notes, is that the bitcoin price is being set by custodial inflows while the network’s onchain demand – once a proxy for price movement – has slowed down.

For miners, this dynamic is particularly punishing. With rewards halved to 3.125 BTC and fees contributing less than 1% of block revenue in July, profitability is under strain. That stress is pushing listed miners to diversify into AI and HPC hosting.

Read more: Bitcoin Mining Faces ‘Incredibly Difficult’ Market as Power Becomes the Real Currency

A report from earlier this year by Rittenhouse Research argues that Galaxy Digital’s move out of mining altogether could be the model for the sector.

This move has been applauded by the equity markets. While BTC is down more than 3% on-year, the CoinShares Bitcoin Mining ETF has gained nearly 22%. Investors are rewarding firms that have leaned into diversification rather than relying on block rewards alone.

Listed miners tell a similar story. Hive, Core Scientific, and TeraWulf all reported Q2 results padded by HPC and AI hosting revenues.

Those with no diversification, like Bitdeer and BitFuFu, remain deeply exposed to electricity costs, equipment depreciation, and a fee market that Galaxy warns in its report is “anything but robust.”

The juxtaposition is telling: Galaxy’s own research warns that the Bitcoin blockchain’s settlement role is stagnating, while Galaxy’s balance sheet is being repositioned for growth in AI data centers.

Onchain data makes the point: without organic demand for blockspace, fees can’t fund security. And if fees stay low, equity markets are painting a clear picture that mining sector’s best future returns may come from AI, not Bitcoin.

Market Movements

BTC: Bitcoin traded at $113,286.95, down 1.79%, after briefly plunging to a six-week low near $110,600, with the broader crypto market facing heavy liquidations and volatility.

ETH: Ether traded flat at $4,779 as Jerome Powell’s dovish Jackson Hole remarks boosted expectations of a September rate cut, with asset managers predicting new highs for bitcoin and an ETH breakout above $5,000 despite risks from treasury adoption and equity volatility.

Gold: Gold closed at $3,371 after Powell’s dovish Jackson Hole remarks boosted September rate-cut odds.

Nikkei 225: Asia-Pacific stocks climbed Monday, with Japan’s Nikkei 225 up 1.08%, after Powell signaled potential Fed rate cuts in September during his Jackson Hole speech.

Elsewhere in Crypto

The Funding: Why raising a crypto VC fund is harder now — even in a bull market (The Block)
Why Luca Netz Will Be ‘Disappointed’ If Pudgy Penguins Doesn’t IPO Within 2 Years (Decrypt)
KPMG Says Investor Interest in Digital Assets Will Drive Strong Second Half for Canadian Fintechs (CoinDesk)

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August 25, 2025 0 comments

Crypto Trends

Bitcoin ETFs Shed $1 Billion in Five Days Amid Ethereum Comeback

by admin August 24, 2025

In brief

Bitcoin ETFs are experiencing a significant sell-off, with over $1.1 billion in outflows over the past five days as investors de-risk ahead of the Jackson Hole symposium.
Ethereum ETF flows have bucked the bearish trend, with a strong inflow on August 21.
Crypto market remains highly volatile with significant liquidations and key price levels in play, as traders await clarity on the Fed’s interest decision.

Bitcoin ETFs continued their five-day streak of outflows, shedding over $1.1 billion in the past week as investors de-risk ahead of U.S. Federal Reserve Chairman Jerome Powell’s final address at Friday’s Jackson Hole symposium.

This widespread sell-off in risk-on assets has coincided with a 10% crash in Bitcoin’s price since its August 14 all-time high of $124,545.

U.S. equities have also suffered a similar fate, with the S&P 500 index down 1.72% since its own high on August 13.

The large-scale de-risking across ETFs and cryptocurrency markets can be attributed to a concerning inflation data released in August, leading to a significant shift in the market’s rate cut perspective.

The rate cut odds, as a result, have dropped from 90% to 75%, triggering an outflow spree in Bitcoin ETFs.

Ethereum ETF flows, however, have bucked the bearish trend, noting a $286.7 million inflow on August 21, ending the four-day outflow streak.

“Ethereum is going through one of the strangest weeks these days,” Arthur Azizov, Founder and Investor at B2 Ventures, told Decrypt.

The market is “stuck between adoption and stress,” Aziziv said, highlighting the buyers’ inability to move prices despite positive news like BTCS’s plan to pay dividends in Ethereum.

The recent $3.8 billion in staking validator exits have added selling pressure to Ethereum, said Azizov, but clarified that the long-term institutional trend is a “key tailwind” since these large investors control 5% of Ethereum’s supply, which helps “tightens the float.”

As investors speculate on what Powell might say, volatility is likely to remain elevated.

The sudden drop in Bitcoin’s price, which trades around $112,500, caused over $100 million in liquidations over the past hour alone, with $317 million worth of positions forced to close in the past 24 hours, according to CoinGlass data.

Options data on Deribit shows a high concentration of trading around the $120,000 and $110,000 strike prices, indicating a strong battle for control at those levels ahead of Powell’s highly anticipated speech.

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August 24, 2025 0 comments

GameFi Guides

Grayscale, Bitwise and Others File Updates for Spot XRP ETFs

by admin August 23, 2025

Several leading asset managers, including Grayscale, Bitwise, Canary, CoinShares, Franklin Templeton, 21Shares, and WisdomTree, filed amended proposals on Friday for their planned spot XRP exchange-traded funds.

The cluster of filings underscores the growing push from financial firms eager to win approval from the U.S. Securities and Exchange Commission (SEC).

Bunch of XRP ETF filings being updated by issuers today. Almost certainly due to feedback from SEC. Good sign, but also mostly expected pic.twitter.com/GiSL1kc6lt

— James Seyffart (@JSeyff) August 22, 2025

Analysts view the coordinated submissions as a direct response to regulatory input. “[The filings were] almost certainly due to feedback from SEC,” Bloomberg ETF analyst James Seyffart wrote on X. “Good sign, but also mostly expected.”

The new amendments reveal adjustments in fund structures. Instead of allowing only cash creations and redemptions, the updated versions now provide for XRP or cash creations and both cash or in-kind redemptions. Market observers say these tweaks may help address concerns raised by the regulator.

Nate Geraci, president of NovaDius Wealth, emphasized the importance of the simultaneous filings. “Highly notable to see them cluster like this,” he wrote on X. “Very good sign IMO.”

S-1 amendments rolling in today on spot xrp ETFs…

Canary, CoinShares, Franklin, 21Shares, WisdomTree, & Bitwise so far.

Highly notable to see them cluster like this.

Very good sign IMO. pic.twitter.com/Ee7ZPdBuPW

— Nate Geraci (@NateGeraci) August 22, 2025

Broader ETF Momentum

The SEC has not yet approved a spot XRP ETF, though both spot and futures-based proposals are being considered. Industry analysts believe the cluster of filings highlights issuers’ determination to adapt to regulatory expectations, which could eventually bring an approval closer.

Notably, BlackRock, which already manages the largest spot Bitcoin and Ethereum ETFs, has not filed for an XRP product. The company told The Block earlier this month it has no current plans to launch one.

Meanwhile, the broader ETF landscape continues to expand. Recently, VanEck filed with the SEC to launch the first exchange-traded fund built around JitoSOL, a token on the Solana blockchain. The Form S-1 filing aims to give investors access to Solana’s liquid staking market without requiring them to hold the tokens directly.

Amid Friday’s wider market rally, XRP gained 7% to trade at $3.08 at the time of publication.

Also Read: SEC Extends Review of Nine Crypto ETF Filings Into October

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August 23, 2025 0 comments

NFT Gaming

Ethereum in, Bitcoin out: Historic ‘Flippening’ Happens in ETFs

by admin August 23, 2025

Bitcoin spot ETFs: Six days in red
Ethereum ETFs logged their second-biggest monthly inflow

Cryptocurrency spot ETF investors are bringing new liquidity to Ethereum ETFs in the U.S. Yesterday, over $287 million was injected amid an 11% Ether price upsurge. Meanwhile, Bitcoin spot ETFs are bleeding, being in the red for six days in a row.

Bitcoin spot ETFs: Six days in red

U.S. Bitcoin-based spot ETFs are under pressure the past days. Since Aug. 15, 2025, the total value of all spot ETFs on Bitcoin (BTC) plunged by $1.75 billion. The session of Aug. 19 was the most devastating with $523 million being erased in 24 hours, data says.

8/22 Bitcoin ETF Total Net Flow: -$23.3 million
(6TH CONSECUTIVE DAY OF OUTFLOWS)$IBIT (BlackRock): -$198.96 million$FBTC (Fidelity): $50.88 million$BITB (Bitwise): $12.70 million$ARKB (Ark Invest): $65.74 million$BTCO (Invesco): $0.00 million$EZBC (Franklin): $13.51… pic.twitter.com/dDXakiONiT

— Crypto_Mario_ ₿. ⧉ 🧡 🅑 🟧 ⓑ (@Crypto_Mario_B) August 23, 2025

BlackRock’s IBIT is responsible for almost $200 million withdrawals, followed by Fidelity’s FBTC and ARK Investments’ ARKB products.

The total net assets for U.S. Bitcoin spot ETFs sit at $150.23 billion. With a $1.3 billion decline in this metric, BTC spot ETFs are on track to close their most bearish month since February 2025.

At the same time, Bitcoin’s (BTC) price remained relatively stable, only losing 2.3% in the last seven days. This might be a signal of investors reallocating their funds.

Bitcoin (BTC), the largest cryptocurrency, is changing hands at $114,900, being down by 2.4% in the last 24 hours on major spot trading platforms.

Ethereum ETFs logged their second-biggest monthly inflow

At the same time, catalyzed by the hotly-anticipated Ethereum (ETH) price ATH, Ethereum-based spot ETFs are blooming. In yesterday’s session, they registered a decent $287.6 million liquidity inflow.

This inflow pushed the total August 2025 growth over $2.45 billion. That being said, Ethereum (ETH) has already secured the second most bullish month for its ETFs.

BlackRock’s ETHA and Fidelity’s FETH account for the lion’s share of yesterday’s session. With new liquidity, Ethereum spot ETF segment allocated $26.55 billion in total assets. Two weeks ago, this metric reached $21 billion.

Ethereum’s (ETH) price stabilized at $4,741, being 3.6% up in the last 24 hours.

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August 23, 2025 0 comments

GameFi Guides

Public Keys: Ethereum Treasuries Soar, Bitcoin ETFs’ $1 Billion Bleed, Crypto IPO Chatter

by admin August 22, 2025

In brief

Crypto stocks surged on Fed Chair Powell’s dovish Jackson Hole speech hinting at September rate cuts, with Ethereum treasury companies and Bitcoin miners leading gains of 8-15%.
Bitcoin ETFs bled $1 billion over five consecutive days while Ethereum ETFs rebounded with $288 million in net inflows on Thursday.
Blockchain lender Figure Technologies filed for an IPO, seeking to go public after processing over $16 billion in home loans on its Provenance blockchain.

Public Keys is a weekly roundup from Decrypt that tracks the key publicly traded crypto companies.

Wings of a Dove

Crypto stocks (and the rest of the crypto and stock market) are soaring thanks to a big boost from Federal Reserve Chair Jerome Powell’s dovish speech at the Jackson Hole Symposium on Friday morning.

Crypto and stocks tend to get a boost when the Fed lowers rates because it triggers a rotation of funds from treasury bonds and into risk-on assets.

During his remarks, Powell said the “shifting balance of risks may warrant adjusting our policy stance.” In other words, he opened the possibility for a rate cut when the Federal Open Markets Committee meets again in September.

Crypto exchange Coinbase’s shares gained about 6% and Bitcoin hoarding behemoth Strategy rose 5% on the day—a nice reversal from earlier in the week.

But it’s Bitcoin miners and Ethereum treasury companies that won the day. The two largest Ethereum treasuries—former Bitcoin miner BitMine Immersion and online gambling marketer SharpLink— gained 12% and 15.6%, respectively.

Bitcoin mining rig manufacturer Canaan’s stock gained 12%, and Bitcoin miners Riot Platforms and Iris Energy picked up 7.7% and 9.3%, respectively.

Katalin Tishhauser, head of research at Sygnum Bank, noted that while crypto markets had a “swift and positive” reaction to the news, she flagged that the underpinning economic data still shows signs of trouble.

“Even if a September cut does not materialize, the market has proven resilient in digesting past disappointments while still setting new highs. Momentum may continue, albeit with higher volatility,” she told Decrypt. “Meanwhile, spiralling debt and rising inflation remain unresolved structural issues—factors that strengthen the case for safe-haven assets over the longer term.”

$1 Billion Bleed

Bitcoin ETFs just spent five days in the red and shed $1 billion—even as their Ethereum counterparts staged a turnaround. On Thursday, Ethereum funds stopped the bleed and pulled in $288 million worth of net deposits.

The dominance of Ethereum in the current market narrative is very much warranted, according to the latest note from M31 Capital.

The private equity and venture capital fund pointed out that infrastructure, DeFi, L1 and L2 networks, and Web3 companies were all in the green—and all came out ahead of Bitcoin.

But nothing short of another all-time high for BTC was going to top last week’s record-setting run to $124,128.

Figure on the runway

Just as Bullish makes its $1.15 billion debut, there’s a new crypto company ready to test its wings.

Blockchain lender Figure Technologies has filed paperwork for an initial public offering.

Now, it’s important to make a distinction about what Figure does given the history of crypto lenders in the space: Figure uses its platform to enable lending outside the traditional scope of the crypto industry, such as real estate.

The company says that its the largest non-bank provider of home equity lines of credit in the U.S. and that its software has been used for more than $16 billion worth of home loans.

Illia Otychenko, the lead analyst at CEX.IO, told Decrypt earlier this week that the company “dominates the tokenized private credit space, with more than 70% market share and over $11 billion in active loans on its Provenance blockchain.”

Figure is co-founded by SoFi co-founder and former CEO Mike Cagney, who left the bank in 2017 amid sexual harassment allegations. The IPO would mark his return to leading a publicly traded company.

“The IPO is one step in a long process to bring blockchain to all aspects of capital markets,” he said in the company’s SEC filing. No word yet on share pricing, though.

Other Keys

Timber: Nasdaq has delisted drug developer Windtree Therapeutics, which announced last month that it would buy $700 million worth of Binance’s BNB token. The company said in an SEC filing that its shares stopped trading on the Nasdaq for failing to maintain the $1-per-share minimum bid price required by the exchange.

USA Made: Bitcoin miner Bitdeer confirmed it’s going to begin manufacturing mining rigs in the U.S. this year. That news came as two of its competitors—Iris Energy and CleanSpark—have been hit with letters from U.S. customs asking for millions in tariffs on Chinese-manufactured rigs purchased in 2024.

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August 22, 2025 0 comments

NFT Gaming

Market Expert Shakes Off SEC’s Delay Of XRP ETFs, Gives Timeframe For Approval

by admin August 21, 2025

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The wait for an XRP exchange-traded fund (ETF) in the United States just got longer, but one leading market expert is not worried. The SEC recently postponed its decision on several spot XRP ETF applications, extending deadlines into October. Even so, Nate Geraci, President of The ETF Store, believes approval could come soon. Instead of seeing the delay as a setback, Geraci sees it as a sign that the regulatory groundwork is almost complete.

XRP ETFs Could Arrive Within 60 Days Amid SEC Delays

Geraci shared his outlook after the SEC pushed back its ruling on the 21Shares Core XRP Trust. The regulator had until August 20 to decide, but instead gave itself another 60 days, moving the deadline to October 19, giving time for reviewing public comments and addressing regulatory concerns under the Securities Exchange Act of 1934.

The postponement affects not just 21Shares but also other major firms waiting on XRP ETF decisions. Companies such as Grayscale, Bitwise, WisdomTree, Canary Capital, CoinShares, and Franklin Templeton all have applications under review. If the current schedule holds, the SEC will issue decisions in a tight window. Grayscale’s filing could see a ruling on October 18, followed by 21Shares on October 19, Bitwise on October 20, and Canary Capital and WisdomTree between October 24 and 25.

Market observers expect the SEC to handle these applications consistently, just as it did with earlier ETF approvals. Even with the delay, Geraci is still confident. In a post on X, he said that the “spot crypto ETF floodgates appear set to open in the next two months.” He explained that the framework for these funds is “nearly ready,” suggesting that the postponement is more of a formality than a real roadblock.

Regulatory Shifts Signal Fast-Tracked Crypto Adoption

Geraci’s optimism for the XRP ETF approval ties to larger changes happening in U.S. financial regulation. He noted that the country is “nearly ready” for more spot crypto ETFs, with Ethereum staking approval expected soon and the Clarity Act under review in the Senate. He also said that the rest of the year “should be wild” as new rules for digital assets begin to take shape.

He shares the same view as Fed Governor Michelle Bowman, who spoke at the Wyoming Blockchain Symposium, saying change is coming and asked banks and regulators to be more open to new tech. She argued that banks should not cling to an overly cautious approach, since doing so could cause the U.S. to fall behind in the global race for financial innovation.

Bowman also said that regulation and innovation do not have to work against each other. In her words, the US must choose to lead the future of finance or risk falling behind. Congress has already passed the GENIUS Act, which sets rules for stablecoins. Industry participants are watching the Senate’s Digital Asset Market Clarity Act, which may split oversight between the SEC and the CFTC.

Price fails to reclaim $3 | Source: XRPUSDT on TradingView.com

Featured image from Dall.E, chart from TradingView.com

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August 21, 2025 0 comments