The Top Three Crypto News Stories You Need to Know
Spot XRP ETF Expected to Gain Approval in 2025
Renowned ETF analyst Nate Geraci recently shared his predictions for the crypto market in 2025, including a forecast that a spot-based XRP ETF will receive approval this year. This news comes after President Monica Long confirmed that XRP is next in line for an ETF approval by the SEC. Various firms, such as WisdomTree, Bitwise, Canary Capital, and 21Shares, have pending applications for XRP ETFs. While BlackRock has decided not to pursue altcoin ETFs at this time, following the success of its Bitcoin ETF.
U.S. Congressman Reveals Holdings in XRP, SOL, and BTC
Rep. Guy Reschenthaler recently disclosed his cryptocurrency investments, which include XRP, SOL, and Bitcoin, each ranging from $1,000 to $15,000. Other lawmakers like Mike Collins, Barry Moore, and Jeffrey Jackson have also reported significant crypto transactions. The U.S. Senate is planning to establish a dedicated committee for digital assets, led by Sen. Cynthia Lummis, who is known for her support of Bitcoin legislation.
Shiba Inu Sees Surge in Open Interest Amid Price Rebound
Shiba Inu experienced a price rebound with Open Interest (OI) surging by over 36% in 24 hours, reaching 8.34 trillion SHIB valued at $181.45 million. This spike in investor interest is attributed to significant token burn activities, removing 21,709,094 SHIB tokens from circulation. Despite a recent dip, analysts believe SHIB could see further price increases as it nears an oversold state.
Analysis of the Crypto Market News
The approval of a spot XRP ETF could have significant implications for the cryptocurrency market, as it would provide more opportunities for investors to access XRP through traditional financial instruments. Additionally, the disclosure of cryptocurrency holdings by U.S. lawmakers sheds light on the growing acceptance and adoption of digital assets in the political sphere. The surge in Shiba Inu’s Open Interest reflects the ongoing interest and volatility in the crypto market, with potential opportunities for traders and investors to capitalize on price movements.