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Sec Approves New Standards To Fast-Track Spot Crypto Etfs Listings
GameFi Guides

SEC Approves New Standards to Fast-Track Spot Crypto ETFs Listings

by admin September 18, 2025



The U.S. Securities and Exchange Commission (SEC) has approved new standards that could dramatically speed up approvals for spot crypto exchange-traded funds (ETFs). The move eliminates the need for the agency to assess each application individually, reducing a process that often took months.

According to SEC filings on stock exchanges such as Nasdaq, NYSE Arca, and Cboe BZX, the decision streamlines the process under Rule 6c-11. This change opens the door for a wave of new crypto investment products in the U.S.

“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,” said SEC Chairman Paul S. Atkins.

Bloomberg ETF analyst James Seyffart called it “This is the crypto ETP framework we’ve been waiting for,” predicting that several spot ETFs could launch in the coming weeks.

WOW. The SEC has approved Generic Listing Standards for “Commodity Based Trust Shares” aka includes crypto ETPs. This is the crypto ETP framework we’ve been waiting for. Get ready for a wave of spot crypto ETP launches in coming weeks and months. pic.twitter.com/xDKCuj41mc

— James Seyffart (@JSeyff) September 17, 2025

The timing is crucial, as the SEC faces deadlines starting in October on applications for Solana (SOL), XRP, Litecoin (LTC), Dogecoin (DOGE), Avalanche (AVAX), Chainlink (LINK), Polkadot (DOT), and BNB.

Standards for Listing Approval 

Under the new rules, a crypto spot ETF must meet at least one of three requirements: 

The asset trades on a market within the Intermarket Surveillance Group, with monitoring access. The asset underlies a futures contract listed for at least six months on a designated market with a surveillance-sharing agreement. 

The asset is already tracked by an ETF with at least 40% exposure listed on a national securities exchange. If an ETF does not meet these standards, the exchange will still need to file a separate rule request with the SEC.

Concerns Over Investor Protection

Not everyone welcomed the decision. SEC Commissioner Caroline Crenshaw warned that the move could flood the market with unproven products, arguing the Commission is “passing the buck” on investor protection. 

Also Read: Bitwise Files With SEC For Stablecoin And Tokenization ETF





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September 18, 2025 0 comments
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GameFi Guides

SEC Makes Spot Crypto ETF Listing Process Easier, Approves Grayscale’s Large-Cap Crypto Fund

by admin September 18, 2025



The U.S. Securities and Exchange Commission (SEC) on Wednesday approved a set of rules for exchanges to list exchange-traded products (ETPs) holding spot commodities, including cryptocurrencies, without requiring the agency’s individual review each time.

The decision will enable exchanges to proceed with the listing of proposed ETFs by sidestepping the often-lengthy 19(b) rule filing process that can take up to 240 days and requires the SEC to actively approve or disapprove an ETF.

Essentially, the process will be more streamlined than before.

ETF Issuers will approach exchanges (Nasdaq, NYSE, CBOE) with a product idea and desire to list their ETF. If the proposed strategy (token or combination of tokens) of the issuers meets the generic listing standard, then the exchange can proceed with listing the ETF.

SEC Chairman Paul Atkins said the decision was aimed at reducing barriers to accessing digital asset products in regulated U.S. marketplaces.

“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,” SEC Chairman Paul Atkins said in a statement.

Alongside the rule change, the agency signed off on the Grayscale Digital Large Cap Fund, which tracks the assets in the CoinDesk 5 Index and currently consists of bitcoin BTC$116,694.56, ether (ETH), XRP XRP$3.0902, Solana SOL$245.57 and Cardano ADA$0.9142.

Read more: SEC’s Pause of Grayscale Fund Is Likely Temporary

The regulator also approved the launch of options tied to the Cboe Bitcoin U.S. ETF Index and its mini version, broadening the set of crypto-linked derivatives available on regulated U.S. markets.

Big move for altcoin ETFs

The SEC’s listing standards could potentially open the way for a wave of spot-based altcoin ETFs that have been waiting for regulators’ nod to enter the market.

“This is the crypto ETP framework we’ve been waiting for,” James Seyffart, ETF research analyst at Bloomberg Intelligence, said in an X post. “Get ready for a wave of spot crypto ETP launches in coming weeks and months.”

Echoing this sentiment, Kristin Smith, the President of Solana Policy Institute, said, “We are incredibly encouraged by tonight’s news: the SEC continues to promote the rule of law by setting clear rules of the road for US businesses and to take positive steps to allow American investors to safely access digital assets.”

“These new generic listing standards are a net-positive for U.S. investors, markets, and digital asset innovation. Excited for the next wave of crypto adoption!,” she added.

UPDATE (Sept. 8, 12:05 UTC): Corrects 270 days to 240 days and clarifies the process of approval.



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September 18, 2025 0 comments
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Gaming Gear

Check Your Bank Accounts, You Might Spot a Deposit From a Facebook Lawsuit

by admin September 16, 2025


Read your email carefully this week: On Monday morning, I received an email from PayPal with the enticing subject line, “Your Facebook Consumer Privacy User Profile Litigation Settlement Payment.” And no, it wasn’t a scam. I opened it to find my PayPal account had been sent $37.55 as my share of Facebook’s $725 million privacy settlement. 

Don’t miss any of our unbiased tech content and lab-based reviews. Add CNET as a preferred Google source.

I was glad I spotted the email, because the money would’ve sat there in PayPal until I made a PayPal purchase. Instead, I chose to transfer it to my bank, where it’s expected to show up by Thursday.

That’s the good news. The bad news is that if you neglected to file a claim by the 2023 deadline, you’re out of luck.

This all stems from what might be the largest privacy settlement in US history: Facebook’s parent company, Meta, is paying $725 million to settle claims involving the sharing of user data with third-party companies.

Back in 2018, Facebook was accused of improperly disclosing users’ personal information. Cambridge Analytica, a UK political consulting firm with ties to Donald Trump’s 2016 presidential campaign, ended up with the data of as many as 87 million Facebook users. Meta denied any wrongdoing, saying in a 2023 statement that it agreed to the deal because “it’s in the best interest of our community and shareholders.”

A representative for Meta did not immediately respond to a request for comment.

The amount you receive depends on how long you had an active Facebook account.

Screenshot by Gael Fashingbauer Cooper/CNET

Payment amounts differ

The official website for the lawsuit has more information about settlement payments. It notes that settlement payments are being sent only to class members with approved claims. Distribution of the payments will continue over the next 10 weeks. If your claim is approved, a notification will be sent to your email a few days before your payment is issued.

If you are unsure of the status of your claim form and would like to check, you can send an email to the Settlement Administrator at info@facebookuserprivacysettlement.com, but you must include your Claim ID.

Some recipients will be paid via direct deposit, Venmo, Zelle, a mailed check or a virtual prepaid MasterCard, based on the method they chose when they filed their claim. I certainly didn’t remember which method I chose back then, but the PayPal email jogged my memory.

Your settlement amount might be slightly different from mine. The website says authorized claimants receive one point for each month in which they had an active Facebook account during the class period. The number of points helps determine the amount you’re paid.

According to CBS News, the average payment amount is $29.43, and the maximum payout is $38.36.



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September 16, 2025 0 comments
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XRP ETF news
NFT Gaming

First US Spot XRP ETF Set To Debut This Week: All You Need To Know

by admin September 16, 2025


REX Shares says it will list the first US exchange-traded fund offering spot exposure to XRP this week, trading under the ticker XRPR. “The REX-Osprey XRP ETF is coming this week!” the issuer posted on X, adding that the product will be the first US ETF to deliver investors spot exposure, currently the third-largest cryptoasset by market value.

XRP Makes Wall Street History

Unlike the SEC-approved spot bitcoin and ether products—structured as ’33 Act commodity trusts—the REX-Osprey fund is being launched as a ’40 Act open-end ETF. That structure permits an ETF to operate as a registered investment company and can mix exposures, rather than holding only a single commodity in a trust format. The SEC itself emphasizes that spot bitcoin and ether “ETPs” are not ’40 Act ETFs, underscoring the distinct regulatory regimes at play here.

In its latest Form N-1A filing, the fund is presented alongside sister products and described as seeking results that correspond to the performance of the token. The principal strategy commits to investing at least 80% of net assets in XRP and/or other assets that provide exposure to the token, either directly or via a wholly-owned Cayman subsidiary.

The filing also caps investment in that subsidiary at 25% of total assets. Creation and redemption are available to authorized participants, with the fund reserving the right to settle redemptions in cash and noting a standard T+2 payout timeline, extendable to seven days under stress.

The prospectus further allows the ETF to invest in other investment companies (including ETFs) subject to Section 12(d)(1) limits and contemplates the use of derivatives as permitted under the ’40 Act—language that provides flexibility, but does not make derivatives the primary exposure.

Bloomberg’s James Seyffart, who tracks crypto ETPs, cautioned that the product is not “pure” spot, explaining “it will hold spot directly and other spot XRP ETFs from around the world to get its exposure.” He added: “The fund documents also have language that would allow derivatives usage for exposure if needed but that definitely isn’t the primary exposure method.”

ETF Store president Nate Geraci framed the launch as a regulatory maneuver enabled by the ’40 Act: “First ETF offering spot XRP exposure set to launch this week…REX-Osprey using clever regulatory end-around via ‘40 Act structure to bring this to market. Will be another good litmus test for ‘33 Act spot XRP ETF demand. Futures-based XRP ETFs already nearing $1bil in assets.”

Market Backdrop And Futures Momentum

The debut comes as derivatives set records. In late August, CME XRP futures surpassed $1 billion in open interest, the fastest pace for any new contract on the venue, and industry commentators now peg US futures-based ETFs as nearing $1 billion in assets—a relevant yardstick for gauging initial demand for spot exposure in an ETF wrapper.

A broader wave of ’33 Act spot proposals is also in the queue. Any eventual approvals of ’33 Act spot trusts would add a second, more direct structural path to US spot exposure, alongside the REX-Osprey ’40 Act route.

Notably, REX-Osprey previously introduced the Solana + Staking ETF (SSK) via a comparable framework—context for how the firm is threading the regulatory needle. Separately, the issuer has guided that a Dogecoin ETF (DOJE) is also on deck this week, highlighting how alternative structures are opening US markets to non-BTC/ETH assets.

At press time, XRP traded at $3.00.



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September 16, 2025 0 comments
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Canary Seeks Sec Nod For Spot Litecoin Etf With 0.95% Fee
GameFi Guides

Canary Seeks SEC Nod for Spot Litecoin ETF With 0.95% Fee

by admin September 16, 2025



Canary Capital plans to charge a 0.95% yearly fee for its proposed spot Litecoin ETF, according to new regulatory documents. The move comes as the asset manager seeks regulatory approval to launch one of the first exchange-traded funds directly tied to Litecoin’s price movements.

Fee Structure and Prospectus Filing

According to the filing, the Canary Litecoin ETF would charge investors a 0.95% annual expense ratio if approved. 

The document notes: “The information in this Preliminary Prospectus is not complete and may be changed. We may not sell these securities until the registration statement filed with the Securities and Exchange Commission is effective. This Preliminary Prospectus is not an offer to sell these securities, and it is not soliciting an offer to buy these securities in any jurisdiction where the offer or sale is not permitted.”

The filing, dated September 15, 2025, outlines that the ETF will trade on the Nasdaq Stock Market under the sponsorship of Canary Capital Group LLC. CSC Delaware Trust Company is listed as trustee, while U.S. Bancorp Fund Services, LLC will serve both as transfer agent and administrator. U.S. Bank, N.A., will act as cash custodian. 

On the crypto side, Coinbase Custody Trust Company and BitGo Trust Company Inc. are named as custodians to securely hold the ETF’s Litecoin reserves.

Benchmarking and Structure

The Canary Litecoin ETF is designed to let investors track Litecoin’s price while factoring in the fund’s costs and expenses. Its net asset value (NAV) will be calculated daily using the CoinDesk Litecoin CCIXber 60m New York Rate. This benchmark is derived from a 60-minute time-weighted average price of the LTC-USD CCIXber Reference Rate, which aggregates trading data from multiple major platforms.

SEC Timeline and Industry Context

Bloomberg ETF analyst James Seyffart noted that “@CanaryFunds updates the prospectus filing for their Litecoin ETF. Notably its due for final approval decision (or denial?) by the SEC in the first week of October.”

If cleared, Canary Capital’s product would join the wave of digital asset ETFs emerging beyond Bitcoin, positioning Litecoin as one of the next cryptocurrencies to enter regulated investment vehicles. The decision, expected in early October, could mark a milestone moment for Litecoin’s integration into mainstream financial markets.

Also Read: Bitwise Seeks SEC Approval to Launch Avalanche Spot ETF



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September 16, 2025 0 comments
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First 'Spot' XRP ETF Launching This Week, but There's a Catch
NFT Gaming

First ‘Spot’ XRP ETF Launching This Week, but There’s a Catch

by admin September 15, 2025


  • A spot ETF with a twist 
  • Existing XRP ETFs 

REX Shares, a US-based provider of exchange-traded funds (ETFs), has confirmed that the REX-Osprey XRP ETF (XRPR) will go live this week.

The product, which will be launched in collaboration with the Osprey Funds this week, will be the first US product to provide US investors with “spot exposure,” according to a Monday announcement.  

A spot ETF with a twist 

Some market observers were probably puzzled by the announcement, given that spot Bitcoin ETFs are yet to be greenlit by the U.S. Securities and Exchange Commission.  

However, the REX-Osprey XRP ETF is not your typical spot ETF because of its structure. Instead of directly holding the Ripple-linked token, the product is meant to operate like a “40 Act” fund. On top of XRP, it will also hold other assets such as cash, derivatives, and Treasuries.

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The approval process for such products is dramatically different since they do not have to be explicitly greenlit by the SEC. They become effective after 75 days unless the agency blocks their launch. 

Existing XRP ETFs 

Currently, there are already several spot XRP ETFs that offer leveraged exposure to the prominent token. These include the Teucrium 2x Long Daily XRP ETF and the Volatility Shares Trust XRP ETF (XRPI).

Hence, the REX-Osprey XRP ETF will indeed stand out as the only spot-style product. 

However, there are several pending spot ETFs that are highly expected to be approved in the near future. 

As reported by U.Today, the SEC recently delayed its decision on Franklin Templeton’s XRP ETF to Nov. 14. 



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September 15, 2025 0 comments
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XRP price coiled for breakout as first U.S. spot ETF nears launch
NFT Gaming

XRP price coiled for breakout as first U.S. spot ETF nears launch

by admin September 11, 2025



The XRP price recovery stalled at the key resistance level of $3 as traders awaited the first launch of a spot XRP exchange-traded fund on Friday, Sept. 12.

Summary

  • The Rex-Osprey XRP ETF will launch on Friday.
  • It will be the first spot XRP ETF in the United States.
  • The SEC is expected to approve other spot ETFs in October. 

Rex-Osprey XRP ETF set to launch on Sep. 12

The XRP price will be in the spotlight tomorrow as Rex-Osprey launches the first spot ETF. This fund will have a first-mover advantage compared to those filed by companies like Franklin Templeton, Bitwise, and Invesco.

While the fund’s goal is to track the Ripple (XRP) price, it will be different from the others. The main difference is that it is based on the Investment Company Act of 1940, while the others are based on Act 33. Using the 1940 Act allowed Rex-Osprey to complete the 75-day review.

The other difference is that it will provide investors with exposure to XRP through a wholly owned Cayman Islands company. 

This fund will be similar to the Rex-Osprey SOL + Staking ETF that has accumulated over $240 million in assets. As such, it is likely to be more expensive than the other upcoming XRP ETFs, given its 0.75% expense ratio. 

While the new XRP ETF will be notable, the main catalyst for XRP will be the other funds, which will likely be approved in October. Polymarket data shows that the odds of these spot ETFs happening this year have jumped to 92%.

Analysts expect these funds will have substantial inflows within the first few months, which may boost the XRP price. SoSoValue data shows that spot Bitcoin (BTC) and Ethereum (ETH) funds hold between 5% and 7% of their market capitalization. If XRP achieves this, then the main ETFs could attract more than $9 billion in assets in the first year.

XRP price technical analysis

XRP price chart | Source: crypto.news

The daily time frame chart shows that the XRP price has formed a few chart patterns that may trigger more gains in the near term. It has formed a double bottom at $2.70 and a neckline at $3.38.

Most importantly, it has formed a falling wedge pattern and has already moved above its upper side, confirming a bullish breakout. It has remained above the 100-day exponential moving average.

The Relative Strength Index has moved above the neutral point at 50, while the two lines of the Percentage Price Oscillator have crossed. Therefore, XRP will likely rebound and potentially hit an extreme overshoot level near $4.30.



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September 11, 2025 0 comments
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Dogecoin news
Crypto Trends

Spot Dogecoin ETF Delayed Again As SEC Stalls Bitwise’s Bid

by admin September 10, 2025


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

The US Securities and Exchange Commission (SEC) has pushed back its decision on whether NYSE Arca can list the Bitwise Dogecoin ETF, designating a “longer period” to complete its review of the exchange’s proposed rule change under Rule 19b-4.

In a notice dated Sept. 9, the agency said it is extending the deadline to Nov. 12, 2025, to either approve or disapprove the application to list Bitwise’s DOGE trust as Commodity-Based Trust Shares under NYSE Arca Rule 8.201-E. “The Commission… designates November 12, 2025, as the date by which the Commission shall either approve or disapprove the proposed rule change,” the order states.

Spot Dogecoin ETF—Nah, But DOJE Is Coming

The delay keeps Bitwise in the growing queue of spot altcoin ETFs waiting on the traditional pathway used by the spot bitcoin and ether products: an exchange rule change under the Securities Exchange Act of 1934 paired with a Securities Act registration statement. Bitwise’s DOGE product is structured as a commodity-based trust that would hold Dogecoin in custody, with Coinbase Custody listed as the Dogecoin custodian in its S-1 filing.

Even as the spot DOGE application slips to November, a Dogecoin ETF from REX Shares and Osprey Funds is slated to begin trading this Thursday via a different regulatory route. The product will list under the ticker DOJE and is distributed by Foreside Fund Services, with launch timing confirmed for Thursday. This fund leverages the Investment Company Act of 1940—rather than the ’33/’34 Act spot-commodity-trust pathway—to offer DOGE exposure, a structure the issuers previously used for their Solana product.

Bloomberg’s Eric Balchunas framed the moment succinctly, posting on X: “Meme coin ETF era about to kick off it looks like with DOJE slated for a Thursday launch, albeit under the 40 Act a la SSK. There’s a big group of ‘33 Act-ers waiting for SEC approval still. Pretty sure this is first-ever US ETF to hold something that has no utility on purpose.”

REX-Osprey’s use of the ’40 Act route echoes the playbook behind SSK, the REX-Osprey SOL + Staking ETF, which lists on Cboe and holds SOL exposure while seeking to pass through staking rewards within the constraints of a registered fund. That earlier launch established a template for crypto-exposure ETFs that do not rely on an exchange’s 19b-4 rule change to list a spot commodity trust.

The SEC’s latest Bitwise order leaves the market with two parallel tracks for Dogecoin exposure in US ETFs. On one side is the Bitwise proposal, proceeding through the familiar spot-trust approval gauntlet that culminates on Nov. 12 absent another procedural shift. On the other is DOJE, which—if it begins trading Thursday—would represent a first-of-its-kind US DOGE ETF launched as a ’40 Act fund, a structure industry analysts say can reach the market without the same exchange rule-change approval required for commodity-based trusts.

For investors and issuers, the split underscores how crypto ETFs are evolving beyond the binary of “approved or denied” for spot commodity trusts. Bitwise is pursuing a product that would hold DOGE directly in a trust structure consistent with NYSE Arca’s Rule 8.201-E framework, while REX-Osprey appear set to offer DOGE exposure inside a registered investment company—akin to SSK’s approach—highlighting the growing role of ’40 Act mechanics in bringing non-bitcoin assets to the exchange-traded market.

At press time, DOGE traded at $0.24.

DOGE price, 4-hour chart | Source: DOGEUSDT on TradingView.com

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

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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September 10, 2025 0 comments
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Crypto Trends

Spot Ether ETFs Shed $952M Over 5 Days as Recession Fears Grow

by admin September 6, 2025



Spot ether exchange-traded funds (ETFs) logged their fifth straight day of outflows this week, shedding $952 million in total and over $787 million in the four-day week alone.

The withdrawals followed a record-setting August when spot ether ETFs pulled in $3.87 billion even as bitcoin ETFs saw $751 million in net outflows, according to SoSoValue data.

Friday accounted for the sharpest decline, with $446.71 million leaving these ETH-linked funds. Spot bitcoin ETFs, in contrast, posted $246.4 million in net inflows over the past week. The contrast is notable, as funds investing in the flagship cryptocurrency saw $751.1 million in net outflows last month.

Ether has climbed more than 16% over the past month, though it slipped 1.8% in the last week now trading just below $4,300. The cryptocurrency has been benefitting from the GENIUS Act passing into law, which restricted stablecoin issuers from paying interest and provided clarity which could lead to greater institutional investment.

Its recent drawdown is likely related to a broader return from risk assets. That came after weak U.S. jobs data furthered expectations the Federal Reserve will cut interest rates later this month, along with growing fears of a recession.

Traders are now weighing an 89% chance of a 25 bps rate cut, and an 11% chance of a 50 bps cut according to the CME’s FedWatch tool.On Polymarket, odds of a 50 bps rate cut are at 12%.

The cooling data , coupled with growing concerns surrounding economic uncertainty and geopolitical risks, has also seen the price of gold top the $3,600 mark for the first time.



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September 6, 2025 0 comments
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Bitcoin Price Rejected at $113,000, Spot BTC ETFs Lose $400 Million in Two Days, Open Interest Stagnates: Bitcoin Hot News Recap
NFT Gaming

Bitcoin Price Rejected at $113,000, Spot BTC ETFs Lose $400 Million in Two Days, Open Interest Stagnates: Bitcoin Hot News Recap

by admin September 6, 2025


Bitcoin (BTC), the largest cryptocurrency, is taking a breath before the next phase of its rally. While all major metrics are stagnating, some macro indicators hint at a possible 50% upside for the crypto king’s price.

Bitcoin (BTC) price brutally rejected at $113,000

Bitcoin (BTC), the first cryptocurrency, failed to expand its rally to over $113,000. Yesterday, Sept. 5, 2025, its price jumped by 2%, but was stopped by bears. Immediately after touching the resistance level, it dropped back to $110,300.

Image by CoinMarketCap

At press time, Bitcoin’s (BTC) price has stabilized at around $110,900 on major spot trading platforms. In the last 24 hours, Bitcoin (BTC) is up by a negligible 0.24%.

The rest of the cryptocurrency market is also stagnant today. The aggregated capitalization of digital assets added 0.19% and hit $3.81 trillion in equivalent.

The cryptocurrency’s Fear and Greed Index dropped to 48/100, which is considered to be a “Neutral” indicator. As per CoinMarketCap, the cryptocurrency’s RSI sits at 48.46, which also signals about the market being at a crossroads.

In the last 24 hours, the cryptocurrency’s liquidations were below $100 million, which is an indicator of market apathy.

Spot Bitcoin ETFs log $400 million in outflows in two days

Exchange-traded products on spot Bitcoin (BTC) are witnessing outflows in recent sessions. On Sept. 4-5, U.S. BTC ETFs lost almost $400 million in equivalent.

On Sept. 4, 2025, $227 million was withdrawn by investors, followed by $160 million erased the next day. As a result, the aggregated spot Bitcoin ETFs AUM dropped to $144.5 billion.

BlackRock’s IBIT, Grayscale’s GBTC and Bitwise’s BITB are the three most affected ETFs; combined, they lost about $150 million in just one session.

As covered by U.Today previously, spot Bitcoin ETFs have been losing traction since early July 2025. Investors’ pessimism might be a signal of liquidity migration to alternative TradFi products, precious metals and stocks.

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At the same time, Ethereum spot ETFs were hit even harder last week. In seven days, spot Ether ETFs lost over $787 million in AUM, which makes this week the most painful for the segment ever.

Since Ethereum spot ETFs were launched in July 2024, its ecosystem has not been hit by such a massive liquidity outflow.

Bitcoin OI stuck in $79-$85 billion corridor for seven weeks

At the same time, this might be just a rebalance since spot ETH ETFs investors injected $2.8 billion in liquidity during the second week of August.

Meanwhile, Bitcoin’s open interest — the total USD-denominated value of all derivatives contracts that are not closed yet — has been stagnating since July.

As of printing time, the aggregated Bitcoin futures OI sits slightly below $80 billion in equivalent. In the last couple of weeks, it has remained almost unchanged. After reaching its peak at $88 billion on July 16, 2025, it started slowly declining.

Binance (BNB), the largest cryptocurrency exchange by trading volume and user count, is responsible for $14 billion out of this value.

For Ethereum futures, the net open interest has been sitting at $60 billion in equivalent for three weeks in a row. As such, markets might be confused about performance prospects for both assets.

Bitcoin (BTC) to $185,000? Here’s what Tephra Digital BTC/M2 model says

Despite sending mixed signals to its audience, Bitcoin (BTC) can still expand its rally over $150,000 per BTC easily. As a recent model by Tephra Digital asset management firm demonstrates, Bitcoin (BTC) closely follows the M2 metric — the aggregated volume of the U.S. money supply.

If Bitcoin’s lagged M2 and gold correlations hold, the rest of the year could be very interesting. Charts below point to $167k–185k. pic.twitter.com/JJ2PvLcubn

— Tephra Digital LLC (@Tephra_Digital) September 3, 2025

The analyst noticed that Bitcoin (BTC) follows M2 and gold price fluctuations with the lag of 100-200 days. Given that fact, the global cryptocurrency community should be prepared for an extremely bullish Q4, 2025.

Based on these assumptions, Bitcoin’s (BTC) price can naturally reach $167,000-$185,000 by the end of this year.

Bitcoin’s (BTC) price set its current ATH at $124,457 on Aug. 14, 2025. As of now, it is trading 11% below the record price.





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September 6, 2025 0 comments
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