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BNB price extends gains to a new ATH amid crypto bounce

by admin October 4, 2025

BNB price continued its ascent as bulls broke to a new all-time high of $1,167 on Oct. 3, with the surge coming amid an explosive increase in key network metrics.

Summary

BNB price rose to a new all-time high of $1,167 on Friday as Bitcoin jumped to $124,000.
Network metrics points to further gains for the Binance token.
Overall market sentiment is also bullish, with macro factors aiding the upbeat outlook.

BNB has been in an uptrend since breaching the previous cycle’s all-time peak, and the rally above $1,100 looked to gain fresh momentum as the price hit a new all-time high of $1,167. The cryptocurrency, native to the Binance crypto exchange ecosystem and BNB Chain blockchain network, has gained more than 18% in the past week and over 32% in the past month.

The BNB (BNB) chart shows bulls have extended dominance above the $1,000 threshold after initially retreating from a high of $1,075 on Sept. 21, 2025.

BNB price chart. Source: crypto.news

What happened as BNB price rose?

A successful retest of the $1,000 area as cryptocurrencies bounced amid market reaction to the U.S. government shutdown provided a base for bulls’ latest move. Notably, the BNB community, including Binance founder and former chief executive Changpeng Zhao, has cheered each price milestone reached in recent weeks.

Bntober
Astober
Bitober
😁 https://t.co/oZslzOhNDR
— CZ 🔶 BNB (@cz_binance) October 3, 2025

This upbeat sentiment has helped BNB hold onto gains and trade higher as market leaders such as Bitcoin and Ethereum surge. However, the bullish outlook is not just due to optimism for further gains; the Binance and BNB Chain ecosystems have shown significant traction across key metrics.

Key metrics point to momentum

Network growth across users, trading volumes, and total value locked aligns with Binance Coin’s market performance.

For instance, a Q3 2025 report by CryptoRank shows BNB Chain recorded a 57% quarter-over-quarter increase in active addresses in the three months to the end of September.

The network also saw notable jumps in both centralized and decentralized exchange volumes. PancakeSwap and Aster have been standout contributors to the trading-volume metric; the latter has attracted attention as one of the fastest-rising platforms.

A surge in stablecoin supply on BNB Chain, up has increased by over 6.4% to over $13 billion, is another metric aiding the price surge.

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October 4, 2025 0 comments

Crypto Trends

Avalanche (AVAX) Extends Weekly Losses to 18% as Institutional Backing Fails to Lift Market

by admin September 26, 2025

Avalanche’s native token AVAX fell 8% over the past 24 hours to $27.72, extending a weeklong slide that erased nearly 18% of its value. The drop occurred alongside a broad plunge in crypto markets that’s seen ETH, SOL, DOGE also post double-digit percentage declines over the past week and BTC fall 6%.

AVAX has struggled to break above a resistance level of $30.28 and found only weak support near $27.65. CoinDesk Analytics data shows trading volume sank to 121,896 tokens in early trading Friday, signaling that institutional selling may be slowing but has not yet reversed.

The price slump comes in the wake of Avalanche-aligned corporate initiatives aimed at deepening institutional engagement. Earlier this week, tech company AgriFORCE Growing Systems rebranded as AVAX One and announce plans to raise $550 million to acquire and hold AVAX. The move would make it the first Nasdaq-listed company to focus exclusively on Avalanche’s ecosystem.

The firm assembled a high-profile advisory team led by SkyBridge Capital founder Anthony Scaramucci and Coinbase Institutional’s Brett Tejpaul, positioning itself as a major AVAX custodian. AVAX One aims to hold more than $700 million in the token, a bid to cement its role as a central figure in Avalanche’s growth story.

But for now, the market hasn’t bought in.

The falling price suggests that institutional backers may still be cautious about Avalanche’s long-term positioning. While regulatory approvals for token-related vehicles are pending, they have yet to translate into buying momentum.

Avalanche’s roadmap includes partnerships and enterprise use cases, but these fundamentals have yet to counterbalance the current selling pressure.

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September 26, 2025 0 comments

NFT Gaming

Coinbase Extends $100 Million Bitcoin-Backed Credit to Miner CleanSpark

by admin September 23, 2025

In brief

The $100 million facility has been secured by CleanSpark’s Bitcoin holdings.
Executives said the strategy helps fund growth without equity dilution.
Rising difficulty, low fees, and tariffs have added pressure to mining margins.

Bitcoin miner CleanSpark said Monday it has secured a new $100 million credit line from Coinbase Prime, extending its existing financing arrangements with the exchange.

The credit is backed by the miner’s Bitcoin holdings and is intended to strengthen liquidity while the firm pursues “accretive growth using non-dilutive financing,” Gary A. Vecchiarelli, Chief Financial Officer and President at CleanSpark, wrote in a statement.

The funds will support energy expansion, mining growth, and new high-performance computing projects, with the move building on earlier steps, the company said.

In an earlier earnings call for its second quarter results released in May, Vecchiarelli said that CleanSpark’s balance sheet strategy has matured to an extent that it has allowed the Bitcoin miner to pursue “non-dilutive funding options” that support both its operations and long-term growth.

Non-dilutive funding options are ways for a company to raise money without issuing new shares, so existing shareholders don’t lose ownership.

This represents a “meaningful strategic distinction” from its peers, who Vecchiarelli said “continue to rely on equity dilution to fund operating costs” while some still rely on increasing leverage to grow their Bitcoin reserves.

To date, CleanSpark holds 12,703 BTC worth about $1.43 billion at current prices, and is the 10th largest holder of the asset among public companies, according to data from Bitcoin Treasuries.

CleanSpark had already expanded its facility with Coinbase Prime by up to $200 million in April earlier this year.

The move aligns with several others in the crypto mining sector who are also shifting toward using Bitcoin-backed credit as an alternative to equity issuance or direct sales of mined coins. Hut 8 doubled its line to $130 million in June, while Riot Platforms tapped Coinbase for a $100 million arrangement in April.

These credit lines come as evolving network conditions make mining more capital-intensive. Bitcoin’s hashrate and difficulty have both reached records, while transaction fees fell below 1% percent of block rewards in August for the first time.

That shift means miners are more dependent on fixed subsidies to cover rising energy and equipment costs, with observers warning last month that increasing hardware costs and logistical hurdles could accelerate shifts in mining locations, supply chains, and capital expenditure strategies, as well as deepen the strain on miners.

As early as March, tariffs on imported rigs from Asia have added to the burden, with U.S. firms including CleanSpark facing potential liabilities for past shipments.

CleanSpark stock is up 33% over the past five days, according to Google Finance data.

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September 23, 2025 0 comments

NFT Gaming

XRP Supply’s Fall on Coinbase Extends to 90%, New Data Confirms

by admin September 15, 2025

Coinbase’s XRP has fallen almost 90% in just three months, according to new information from XRPWallets. At the beginning of the summer, the leading U.S. crypto exchange held around 970 million XRP in 52 cold wallets. Ten of these held 26.8 million coins each, and the rest held another 16.8 million combined. This made Coinbase one of the largest visible holders of XRP in the market.

But then something switched, and now, by the middle of September, only six cold wallets are still active, each with about 16.5 million XRP, leaving the total close to 99 million, a level not seen in years.

Where XRP going?

Some may think that big companies and institutions like BlackRock might be buying XRP through Coinbase for their own customers, but nothing is known for sure.

The on-chain data only shows balances leaving the exchange, not where the coins go after they leave cold storage or how they might be used later.

Chainalysis Extends XRP Ledger Support In Latest Move – What’s New?

by admin September 10, 2025

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Chainalysis is extending its support for the XRP Ledger and the new coverage goes beyond the native token. Customers now get more ways to follow token activity and check transactions. With Chainalysis adding this extended support, users now have stronger ways to interact with one of the most active blockchains in the market.

Chainalysis Expands Coverage For XRP Ledger

In its announcement, Chainalysis explained that automatic token support now includes fungible tokens such as IOUs, non-fungible tokens under the XLS-20 standard, and multi-purpose tokens, also known as MPTs. MPTs operate like Ethereum’s well-known ERC-1155 tokens. The update means many different kinds of assets on the XRP Ledger are now covered.

The company also shared that more than 260,000 tokens are already supported. As developers create more tokens on the blockchain, the total number increases daily, showing the steady activity and expansion of the XRP Ledger.

Chainalysis added that customers can now use its KYT (Know Your Transaction) service to monitor these tokens. KYT gives real-time alerts, continuous tracking, and compliance checks. Chainalysis KYT now keeps a close eye on a wide range of XRP Ledger assets, making activity on the network easier to monitor and safer to engage with.

Stronger Tools For Compliance And Investigations

Chainalysis also highlights that its expansion links directly to the company’s main investigative products. The extended coverage is now available through Reactor, the platform designed for in-depth transaction reviews and its entity screening services.

Customers can now use the Chainalysis Reactor tool and entity screening products with XRPL tokens. They can visualize transactions in detail and act quickly if they notice risks. Customers can now track token flows, see how money moves, and identify signs of suspicious activity.

Chainalysis noted that the XRP Ledger is well-known for facilitating fast and low-cost cross-border transactions, making it one of the most trusted blockchains today. The network has handled more than 3.3 billion transactions across over 90 million blocks.

Its native token remains among the top digital assets by market value and is supported by a large global community. The Ledger itself continues to show strong performance. Nearly 200 validators worldwide support it, which are independent nodes that confirm transactions, with Ripple named as a key contributor.

The Chainalysis update will make oversight on the XRP Ledger easier at a time when the number of tokens is skyrocketing. Customers can now use its Reactor tool to check XRPL tokens, follow how funds move, and help keep the network secure.

With the latest support from Chainalysis, the ledger becomes even more transparent, and customers now have safer and stronger ways to follow the growing number of tokens that developers are adding to the blockchain.

Bulls push for another test for $3 | Source: XRPUSDT on Tradingview.com

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

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September 10, 2025 0 comments

Crypto Trends

BTC Treads Water, Gold Extends Gain as U.S. Jobs Data Looms: Crypto Daybook Americas

by admin September 3, 2025

By Francisco Rodrigues (All times ET unless indicated otherwise)

Bitcoin BTC$111,487.44 rose just 0.6% in the last 24 hours, while the wider market as measured by the CoinDesk 20 (CD20) Index added 0.4%. The gain is overshadowed by gold’s increase and a major government bond sell-off.

The precious metal broke through $3,500 per ounce for the first time on Wednesday, helping the tokenized gold market to top $2.5 billion in value as growing bets see the Federal Reserve cutting rates this month. Gold’s advance comes as investors are wary of swelling government debt, prompting a sell-off in long-dated government bonds.

The yield on Japan’s 30-year government bond rose to a record 3.28% following similar moves in the U.S. and U.K. The U.S. 30-year Treasury yield neared 5%, while British gilts reached levels not seen since 1998, at 5.7%.

The turmoil hasn’t added fuel to the crypto market, whose price action remains muted. Deribit’s bitcoin volatility index (DVOL) is now at 38.1, its lowest level since late 2023, while capital is seemingly rotating into ether (ETH).

While spot bitcoin ETFs saw $751 million in net outflows last month, spot ether ETFs brought in a net $3.87 billion. That rotation is also being seen on-chain.

Meanwhile, a joint statement from the SEC and CFTC clarified rules for compliant spot crypto trading in the agencies’ latest effort to clear a way forward for crypto in the U.S.

The statement failed to jolt the crypto market, seemingly as investors await Friday’s U.S. jobs report. A soft reading could nudge the Federal Reserve closer to lowering rates, which would boost the market and other risk assets.

A hotter-than-expected figure, however, could damp sentiment. September has historically been a negative month for the sector, with bitcoin recording a drop of 3.29% on average for the month according to CoinGlass data. Stay alert!

What to Watch

Crypto
- Sept. 3: First day of regular-hours trading on Nasdaq for American Bitcoin (ABTC). The company, backed by Eric Trump and Donald Trump Jr., was formed through a reverse merger with Gryphon Digital Mining and listed after market close on Sept. 2.
- Sept. 3, 10:15 a.m.: Tellor (TRB), a decentralized oracle network that operates as an Ethereum layer-2 blockchain, will upgrade its mainnet to version 5.1.1. The upgrade improves network performance and node operation.
- Sept. 4: Polygon will switch its mainnet token to POL from MATIC. Holders of MATIC on Ethereum, Polygon zkEVM or centralized exchanges may need to take action.
- Sept. 10, 9:15 a.m.: Comptroller of the Currency Jonathan V. Gould will talk about digital assets at the CoinDesk: Policy & Regulation Conference in Washington.
Macro
- Sept. 3, 8 a.m.: Brazil’s Institute of Geography and Statistics (IBGE) releases July industrial production data.
  - Industrial Production MoM Est. -0.3% vs. Prev. 0.1%
  - Industrial Production YoY Est. 0.2% vs. Prev. -1.3%
- Sept. 3, 9 a.m.: S&P Global releases August Brazil data on manufacturing and services activity.
  - Composite PMI Prev. 46.6
  - Services PMI Prev. 46.3
- Sept. 3, 10 a.m.: The U.S. Bureau of Labor Statistics releases July labor market data (the JOLTS report).
  - Job Openings Est. 7.4M vs. Prev. 7.437M
  - Job Quits Prev. 3.142M
- Sept. 4, 8:15 a.m.: Automatic Data Processing (ADP) releases August U.S. private-sector employment data.
  - Employment Change Est. 68K vs. Prev. 104K
- Sept. 4, 9:30 a.m.: S&P Global releases August Canada data on manufacturing and services activity.
  - Composite PMI Prev. 48.7
  - Services PMI Prev. 49.3
- Sept. 4, 9:45 a.m.: S&P Global releases (final) August U.S. data on manufacturing and services activity.
  - Composite PMI Est. 55.4 vs. Prev. 55.1
  - Services PMI Est. 55.4 vs. Prev. 55.7
- Sept. 4, 10 a.m.: The Institute for Supply Management (ISM) releases August U.S. services sector data.
  - Services PMI Est. Est. 51 vs. Prev. 50.1
- Sept. 4, 1 p.m.: Uruguay’s National Institute of Statistics releases August inflation data.
  - Inflation Rate YoY Prev. 4.53%
- Sept. 4, 3 p.m.: Colombia’s National Administrative Department of Statistics (DANE) releases August producer price inflation data.
Earnings (Estimates based on FactSet data)
- Sept. 9: GameStop (GME), post-market

Token Events

Governance votes & calls
- Arbitrum DAO is voting on upgrading Arbitrum One and Nova to ArbOS 50 Dia, adding support for Ethereum’s Fusaka fork, new EIPs, bug fixes and a native mint/burn feature (for Orbit chains only). Voting ends Sept. 4.
- Uniswap DAO is voting on deploying Uniswap v3 on Ronin with $1M in RON and $500K in UNI incentives to make it the chain’s primary decentralized exchange. Voting ends Sept. 6.
- Lido DAO is voting on a proposal to migrate Nethermind’s ~7,000 Ethereum validators to infrastructure operated by Twinstake, a staking provider co-founded by Nethermind. Voting ends Sept. 8.
- Sept. 2, 6 a.m.: Bybit and Centrifuge to host an ask me anything (AMA) session on X spaces.
- Sept. 3: Stellar XLM$0.3649 to host vote on Protocol 23 mainnet upgrade.
- Sept. 3, 10 am: Lido to host a Poolside Community Call.
- Sept. 3, 10 a.m.: Zebec Network ZBCN$0.004202 to host spaces event on blockchain integrations.
- Sept. 3, 12:30 p.m.: Aptos APT$4.3209 to host hangout on ecosystem updates.
- Sept. 4, 10 a.m.: OlympusOHM$131.29 to host community call.
Unlocks
- Sept. 5: Immutable (IMX) to unlock 1.27% of its circulating supply worth $13.26 million.
- Sept. 11: Aptos APT$4.3209 to unlock 2.2% of its circulating supply worth $48.18 million.
- Sept. 15: Starknet (STRK) to unlock 5.98% of its circulating supply worth $16.39 million.
- Sept. 15: Sei SEI$0.2886 to unlock 1.18% of its circulating supply worth $16 million.
- Sept. 16: Arbitrum ARB$0.5017 to unlock 2.03% of its circulating supply worth $47.15 million.
Token Launches
- Sept. 3: Moonchain (MCH) to be listed on Binance Alpha, MEXC, Gate.io and others.

Conferences

The CoinDesk Policy & Regulation Conference (formerly known as State of Crypto) is a one-day boutique event held in Washington on Sept. 10 that allows general counsels, compliance officers and regulatory executives to meet with public officials responsible for crypto legislation and regulatory oversight. Space is limited. Use code CDB15 for 15% off your registration.

Token Talk

By Oliver Knight

Bitcoin BTC$111,487.44 dominance, a key metric when assessing whether the crypto market is in “altcoin season” has ticked down another notch to around 58%, having been above 61% just 30 days ago.
The drop-off demonstrates a change in trader behavior: Typically altcoins perform poorly when BTC enters a downtrend, this time, however, many have held their value while some have outperformed the market’s largest asset.
Bitcoin is down by 2.91% in the past 30 days while the likes of ether (ETH) and solana SOL$210.66 are up by 21% and 27.5%, respectively.
While the gains have been driven by the adoption of several altcoins in corporate treasuries, they can also be attributed to a recalibration of the entire market.
During BTC’s rise to a $124,000 record high last month, the narrative was solely focused on bitcoin and it’s perceived correlation with the well-performing tech sector in equities.
It’s worth noting that in previous cycles bitcoin dominance slumped all the way down to 39%, indicating that the altcoin resurgence still has some way to go.
However, as liquidity flowed into BTC, several altcoins fell to record lows against bitcoin, leading to a number being “oversold” on technical indicators like relative strength index (RSI).

Derivatives Positioning

The total open interest across all perpetual instruments increased overnight to $114 billion, data from Laevitas show.
A liquidations heatmap for the BTC-USDT pair on Binance shows that bitcoin is trading between two significant liquidation clusters. Above the current price, a $90 million cluster of liquidations sits around the $112,200 mark. To the downside, the largest cluster is valued at $76.6 million, located around $110,000.
According to Deribit options data, the 24-hour BTC put-call volume is 26.4K contracts, with calls accounting for 51.6% of the total. The contract with the highest volume is the $108K strike price put expiring Sept. 26.
That’s followed by the call at a strike price of $114K expiring on the same day.
The funding rate heatmap on Coinglass remains positive for most assets, indicating a general bullish sentiment. The one exception is TRX, which has a negative funding rate, reflecting a -10.2% APR.

Market Movements

BTC is down 0.1% from 4 p.m. ET Tuesday at $111,323.58 (24hrs: +0.92%)
ETH is up 0.82% at $4,348.94 (24hrs: -0.89%)
CoinDesk 20 is up 0.59% at 4,046.65(24hrs: +1.01%)
It’s worth noting that in previous cycles bitcoin dominance slumped all the way down to 39%, indicating that the altcoin resurgence still has some way to go.

Derivatives Positioning

DXY is down 0.15% at 98.25
Gold futures are up 0.36% at $3,605.20
Silver futures are unchanged at $41.62
Nikkei 225 closed down 0.88% at 41,938.89
Hang Seng closed down 0.6% at 25,343.43
FTSE is up 0.43% at 9,155.78
Euro Stoxx 50 is up 0.84% at 5,335.46
DJIA closed on Tuesday down 0.55% at 45,295.81
S&P 500 closed down 0.69% at 6,415.54
Nasdaq Composite closed down 0.82% at 21,279.63
S&P/TSX Composite closed up 0.18% at 28,615.62
S&P 40 Latin America closed down 0.32% at 2,760.02
U.S. 10-Year Treasury rate is up 0.2 bps at 4.279%
E-mini S&P 500 futures are up 0.46% at 6,454.75
E-mini Nasdaq-100 futures are up 0.68% at 23,433.75
E-mini Dow Jones Industrial Average Index are unchanged at 45,352.00

Bitcoin Stats

BTC Dominance: 58.59% (+0.04%)
Ether-bitcoin ratio: 0.0389 (0.01%)
Hashrate (seven-day moving average): 1,001 EH/s
Hashprice (spot): $54.39
Total fees: 4.97 BTC / $548,282
CME Futures Open Interest: 133,410 BTC
BTC priced in gold: 31.4 oz.
BTC vs gold market cap: 8.85%

Technical Analysis

PUMP has been one of the strongest tokens in recent days, backed by strong fundamentals such as its buyback program and the recently announced Project Ascend — a series of updates that focuses on growing the Pump.fun ecosystem and infrastructure.
After breaking the bearish trendline last week, PUMP has reclaimed the 20-day exponential moving average.
Bulls are looking for the token to continue this upward trend and flip the $0.004 level, which has proven to be a tough resistance point over the last month.
A successful breakout above this price would signal strong bullish momentum.

Crypto Equities

Coinbase Global (COIN): closed on Tuesday at $303.56 (-0.32%), +0.74% at $305.80 in pre-market
Circle (CRCL): closed at $120.14 (-8.97%), +2.22% at $122.81
Galaxy Digital (GLXY): closed at $24.16 (+2.85%), +0.99% at $24.40
Bullish (BLSH): closed at $62.03 (+5.08%), -0.55% at $61.69
MARA Holdings (MARA): closed at $16.06 (+0.5%), +0.31% at $16.11
Riot Platforms (RIOT): closed at $14.09 (+2.4%), +0.5% at $14.16
Core Scientific (CORZ): closed at $14 (-2.44%), unchanged in pre-market
CleanSpark (CLSK): closed at $9.64 (+1.8%), +0.1% at $9.65
CoinShares Valkyrie Bitcoin Miners ETF (WGMI): closed at $31.64 (+3.33%), +2.84% at $32.54
Exodus Movement (EXOD): closed at $24.79 (-1.71%), -1.21% at $24.49

Crypto Treasury Companies

Strategy (MSTR): closed at $341.62 (+2.16%), +0.66% at $343.88
Semler Scientific (SMLR): closed at $29.37 (-0.91%)
SharpLink Gaming (SBET): closed at $16.98 (-4.71%), +0.94% at $17.14
Upexi (UPXI): closed at $6.89 (-4.7%), +3.48% at $7.13
Mei Pharma (MEIP): closed at $4.85 (-0.21%), +1.44% at $4.92

ETF Flows

Spot BTC ETFs

Daily net flows: $332.8 million
Cumulative net flows: $54.55 billion
Total BTC holdings ~1.29 million

Spot ETH ETFs

Daily net flows: -$135.3 million
Cumulative net flows: $13.4 billion
Total ETH holdings ~6.56 million

Source: Farside Investors

Chart of the Day

While BTC futures volumes on the CME exchange fell 17% to $148 billion in August, the ETH futures volume surged by 48% to $123 billion, an all-time high.
The trading volume of SOL futures and XRP futures also surged to records, rising 41% and 51% to $8.60 billion and $7.32 billion, respectively.
The figures highlight the heightened institutional interest in altcoins in recent weeks.

While You Were Sleeping

In the Ether

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September 3, 2025 0 comments

Crypto Trends

Ripple Extends $75M Credit Facility to Gemini as Exchange Pursues IPO

by admin August 19, 2025

Gemini’s long-awaited IPO filing drew fresh attention to payments giant Ripple, with the exchange disclosing a $75 million credit line from the company alongside a steep financial loss.

In documents submitted to the U.S. Securities and Exchange Commission (SEC) on Aug. 15, Gemini revealed a $282.5 million net loss for the first half, an almost seven-fold increase from the $41.4 million shortfall a year earlier. Revenue fell to $67.9 million from $74.3 million.

The filing puts Gemini, which plans to use the ticker “GEMI” on Nasdaq, in line to become the third crypto exchange to trade publicly in the U.S. after Coinbase (COIN), which debuted on Nasdaq in 2021, and Bullish (BLSH), the owner of CoinDesk, whose shares listed on the New York Stock Exchange a week ago.

Ripple’s role in the listing stood out. In the filing, Gemini said it entered a credit agreement with Ripple Labs in July granting access to up to $75 million in loans, with the option to extend the facility to $150 million if certain metrics are met.

Each drawdown must be at least $5 million and carries interest of either 6.5% or 8.5%, secured against collateral.

In addition, once borrowing surpasses the initial $75 million, requests can be denominated in Ripple’s dollar-backed RLUSD stablecoin. As of the filing date, however, no borrowings had been drawn under the facility

The credit deal with Gemini puts RLUSD directly in the mix as a settlement option for a major U.S. trading platform — an early indication that Ripple wants its stablecoin to compete alongside the two market leaders, Tether's USDT and USDC, issued by Circle Internet (CRCL).

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August 19, 2025 0 comments

Crypto Trends

SEC Extends Review of Nine Crypto ETF Filings Into October

by admin August 19, 2025

The US Securities and Exchange Commission (SEC) has pushed back decisions on a fresh round of cryptocurrency exchange-traded fund (ETF) proposals, leaving Bitcoin, Ethereum, Solana, and XRP funds waiting until October for a verdict.

In notices filed on August 18, the regulator extended its review period for multiple applications, including the Truth Social Bitcoin and Ethereum ETF, spot Solana ETFs from 21Shares and Bitwise, and the 21Shares Core XRP Trust.

The new decision dates now fall on October 8 for the Truth Social ETF, October 16 for the Solana filings, and October 19 for the XRP trust.

The Truth Social Bitcoin and Ethereum ETF, first submitted on June 24, is structured as a commodity-based trust that directly holds Bitcoin and Ether. Shares of the fund would be backed by the underlying assets.

Despite its branding under Donald Trump’s Truth Social platform, the product is designed to function in the same way as other spot Bitcoin and Ether ETFs already approved in the United States.

The Cboe BZX exchange is also seeking approval for the first spot Solana ETFs in the country, filed separately by 21Shares and Bitwise. These funds would give institutional and retail investors regulated access to Solana’s price movements.

In addition, 21Shares has applied for a Core XRP Trust, a product designed to hold XRP and mirror its market value. The application, initially filed in February, was approaching its 180-day deadline before the SEC extended its review by another 60 days.

Beyond these products, the SEC also pushed back rulings on other crypto-linked filings, including CoinShares’ proposed spot Litecoin ETF and Grayscale’s application for a spot Dogecoin ETF. The regulator has delayed a total of nine applications, with most of the new deadlines set for October.

Bloomberg ETF analysts Eric Balchunas and James Seyffart said the delays appear to reflect the SEC’s broader strategy of developing a framework for digital asset ETFs rather than continuing with the current case-by-case approval system.

Seyffart suggested that the commission is working on creating clear listing standards that would define which digital assets can be wrapped into ETFs and under what criteria.

The approach could provide greater consistency for the growing number of crypto ETF applications, but in the meantime, issuers and investors will have to wait longer for clarity.

Also Read: Grayscale Files with SEC for Dogecoin ETF Under Ticker GDOG

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August 19, 2025 0 comments