Bloomberg Intelligence ETF analyst James Seyffart alluded to the filing being the first ETF to file with the SEC to allow for staking.
US Securities and Exchange Commission (SEC) Commissioner Hester Peirce has acknowledged that the financial regulator may not have the authority to regulate most memecoins. In a Feb. 11 Bloomberg interview, the financial regulator pointed out that current laws do not classify these tokens as securities, leaving a gap in oversight. According to her: “There are […]
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The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Peirce’s crypto task force at the SEC is working on classifying which tokens should be considered non-securities.
The regulator could reach a decision at the end of a 21 day comment period.
U.S. lawmakers are taking different approaches to regulating stablecoins and crypto — revealing political divides.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
The newly launched crypto task force could help " facilitate the potential resolution of this case," the court filing said.
The US Securities and Exchange Commission (SEC) and Binance have jointly requested a 60-day suspension of their ongoing lawsuit, according to a Feb. 10 filing. Both parties explained that this decision was made because the SEC established a dedicated crypto task force under Acting Chair Mark Uyeda. According to the filing, the task force’s work […]
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BoE Gov. Andrew Bailey reflected on potential changes in the crypto regulatory environment globally, particularly following Trump's election.
The joint request was made in consideration of the SEC’s new crypto task force and its potential impact on the crypto regulatory landscape.
According to the charges, Eric Council Jr. used a fake ID to gain access to a device with SEC account credentials and then falsely said spot bitcoin ETFs had been approved..
A subsidiary of the New York Stock Exchange, on behalf of Grayscale, filed to create a spot Cardano exchange-traded fund.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Eric Council Jr., pleaded guilty for his part in the hack of the SEC's social media account last year about spot bitcoin ETFs.
The SEC delayed a decision on Friday on whether to approve BlackRock's proposal to list and trade options on its spot Ethereum ETF.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Cboe has filed four separate 19b-4 applications with the US Securities and Exchange Commission (SEC) to introduce spot XRP exchange-traded funds (ETFs). The filings, submitted on behalf of WisdomTree, Bitwise, 21Shares, and Canary, mark a critical step in seeking regulatory approval to list and trade these investment products. These 19b-4 applications follow the issuers’ S-1 […]
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House Financial Services Committee Republican Chair French Hill released draft legislation to regulate stablecoins.
The SEC is accepting comments on the proposal for 21 days following its publication in the Federal Register.
The U.S. SEC is weighing a proposal to change BlackRock's spot bitcoin exchange-traded fund to allow in-kind redemptions.
The U.S. SEC asked the public to comment on a proposal for converting Grayscale's Litecoin trust into an exchange-traded product.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Tenreiro worked at the SEC for over 11 years, first joining as an enforcement lawyer before serving as the agency's chief crypto litigator.
Peirce also urged crypto companies to be patient as the agency decides how to “disentangle” itself from litigation initiated under former Chair Gary Gensler.
The SEC reassigned members of its crypto enforcement team to other departments of the agency, the New York Times reported.
Landon Zinda, former policy director for crypto think tank Coin Center, is the task force’s new senior advisor.
Work is already underway to regulate stablecoins, with Sen. Bill Hagerty introducing a bill on Tuesday to create a regulatory framework.
The cryptocurrency community is abuzz with anticipation regarding XRP’s future price trajectory. Egrag Crypto, a market analyst, anticipates that XRP will experience a significant increase in value, with a potential 70% increase. Related Reading: Chainlink (LINK) Set For $36? Whale Moves Suggest A Big Rally—Analyst If these projections are accurate, XRP’s market capitalization could reach $300 billion in the near future, causing its price to fluctuate between $5 and $6. Nevertheless, the prospective for the future is the source of genuine enthusiasm. The token’s market capitalization could increase to over $1 trillion if XRP sticks to the patterns of previous market cycles, resulting in an estimated price of $20 per coin. Riding On The Success Of Past Cycles XRP has shown endurance over time even if the crypto industry is known to be erratic. Its possible surge is usually connected with past market cycles, in which similar trends led to significant price rise. #XRP – Market Cap ( First $300B – $1.1 T): ????Scenario 1: ????If we look at the channel’s measured move, #XRP‘s market cap could potentially rise to a staggering $4 trillion! ???? While this is possible, predicting the timing of such a move is tricky. If this happens, #XRP‘s price… pic.twitter.com/VfRzRbOKV4 — EGRAG CRYPTO (@egragcrypto) February 1, 2025 With the current positive outlook in the cryptocurrency market, it’s possible that XRP could also see similar growth. Analysts say that XRP’s promise comes from its main uses in decentralized finance and international payments. The $70 Prediction: Is It Realistic? Although some might consider an estimate of $70 unrealistic, it is not just based on wishful thinking. The potential for more institutions to adopt and clearer regulations, which experts see as broader market trends, are key factors driving this increase. Roadblocks Along The Way Still, XRP’s journey presents several difficulties. Legal conflicts like the current SEC case have always caused a lot of ambiguity. Such elements could influence XRP’s price and hinder any possible increase. XRP market cap currently at $133 billion. Chart: TradingView.com XRP Price Action Over the past 24 hours, XRP has fallen 20% to $2.31. Open interest has fallen 5.50% to $6 billion, suggesting some positions are closing. Meanwhile, options volume has fallen 63% to $4.50K, indicating a decline in speculation. In contrast, options open interest has risen 26% to $1.60 million, indicating renewed confidence among long-term traders. Related Reading: XRP Posts Highest Monthly Close Ever—What’s Next? The Journey To $20 And Beyond In the future, it is feasible for XRP to achieve a price of $20 if it is able to surpass the $1.1 trillion market valuation. In anticipation of this prediction becoming a reality, investors and analysts are intently monitoring XRP. XRP is a noteworthy contender for significant future development due to its strong fundamentals and its position in the market, despite the general lack of certainty in the cryptocurrency world. Featured image from DALL-E, chart from TradingView
XRP has ushered in 2025 with a robust bullish performance, achieving its highest monthly close to date. As a result of significant advancements in regulation and institutional adoption, the token’s surge coincides with a growing sense of optimism in the broader crypto market. XRP advanced toward critical price levels during January’s rally, which established the foundation for potential future gains. Related Reading: Stablecoins Hit $200 Billion—Does This Signal A Massive Crypto Rally? XRP Record Monthly Close Sparks Optimism January was an important month for XRP because it reached its highest closing price ever. On January 16, the token hit a monthly high of $3.39, getting close to its record high from 2018. This positive trend, driven by growing market confidence and more people using XRP, has sparked new conversations about its long-term promise. highest monthly close ever for XRP- $3.03 pic.twitter.com/boHBsHi6vP — xoom (@Mr_Xoom) February 1, 2025 XRP’s price has changed a lot. After a big jump and peak in January 2018, its value dropped sharply, falling more than 60% that month and kept going down. It stayed around $0.2700 until it suddenly rose in 2021, but that increase didn’t last long. Renewed Vigor Despite years of underperformance, XRP is now showing renewed strength. Ecosystem growth, positive macroeconomic shifts, including the RLUSD launch, and potential regulatory changes are fueling this resurgence. XRP’s recent price reflects this change. After strong gains in late 2023, it closed January at an all-time high of $3.0359, signaling a potential long-term uptrend. A significant factor in the rapid price fluctuations of XRP, according to market analysts, is its liquidity structure. In contrast to Bitcoin, XRP’s order books are relatively thinner, which facilitates the upward movement of the price through the implementation of substantial purchase orders. Throughout January, this attribute was most evident, as robust demand resulted in rapid growth. Recent Regulatory Changes Seen To Intensify Rally The expected changes in regulations in the United States are an important reason why XRP has been rising lately. There is talk of a possible friendlier environment for cryptocurrency regulations after news that US Securities and Exchange Commission Chairman Gary Gensler has stepped down. This situation has encouraged investors to feel positive, especially about assets like XRP, which has faced regulation issues for a long time. XRP is gaining more attention because of its present momentum and the potential introduction of spot ETFs for altcoins. Market participants are examining other well-known digital assets to see if they can generate the same level of demand as Bitcoin ETFs. The creation of an XRP ETF would attract significant investment from large institutions, further boosting the token’s value. Related Reading: 21Shares Bets On Polkadot, Files For Spot ETF With SEC Price Action And Market Sentiment The current trading levels of XRP are indicative of its recent robust performance. At the time of writing, the asset was trading at approximately $2.78, with intraday fluctuations suggesting that volatility will persist. The token momentarily reached $2.95 before slightly retracing, indicating that traders were taking profits and exhibiting bullish strength. Meanwhile, on-chain data indicates that there has been an increase in activity among large holders, who are informally known as “whales.” Some analysts anticipate a potential breakout if key resistance levels are breached in the coming weeks, as their accumulation patterns suggest confidence in XRP’s long-term growth. Featured image from Pexels, chart from TradingView