Schlagwort: crypto market news

• NYSE Arca has filed for Grayscale Cardano ETF, seeking to list a Cardano Trust under the ticker GADA.
• Bitcoin Pepe presale launches on February 11, 2025.
• Bitcoin Pepe aims to build a Layer-2 solution for Bitcoin leveraging Solana’s speed and low fees and Bitcoin’s security.

On February 10, 2025, NYSE Arca filed a 19b-4 form with the SEC to list the Grayscale Cardano Trust, marking a significant step toward the first US spot Cardano (ADA) ETF.

Notably, the ADA ETF filing coincides with the launch of Bitcoin Pepe’s presale, which is scheduled to go live today (February 11, 2025).

SEC has 45 days to give feedback on the Grayscale Cardano ETF

According to the NYSE Acra filing, Grayscale, a leading crypto asset manager, has partnered with NYSE Arca to propose the Grayscale Cardano Trust under the ticker GADA, seeking to list and trade shares on the NYSE. The trust would hold Cardano’s ADA tokens, with each share representing fractional ownership of the assets, minus expenses.

The filing, submitted under NYSE Arca Rule 8.201-E, reflects the growing institutional interest in altcoin ETFs, following the SEC’s approval of Bitcoin and Ethereum spot ETFs last year. The trust’s net asset value will be calculated daily using an index price from regulated exchanges like Coinbase and Kraken, with Coinbase Custody safeguarding assets and BNY Mellon serving as administrator.

Following the news, the price of Cardano’s native token, ADA, had surged by over 14% to $0.7948 at press time. However, regulatory hurdles remain, as the SEC previously categorized Cardano as security in lawsuits, and the absence of CME ADA futures could delay approval.

Nevertheless, the SEC has 45 days to approve, deny, or extend its review, with market optimism tempered by caution over regulatory challenges.

Bitcoin Pepe presale, the first Bitcoin meme ICO, launches today

As the crypto community celebrate the Cardano ETF proposal that could impact the price of ADA if approved, another crypto project, Bitcoin Pepe, is set to launch the world’s first meme-focused ICO on Bitcoin today with 50% of its BPEP token supply will be available pre-market.

Starting at $0.021, BPEP’s price will increase by 5% after each stage sells out, with early investors potentially seeing gains of over 4x before exchange listings.

Besides the presale, the Bitcoin Pepe project aims to build a Layer-2 solution for Bitcoin, combining Solana’s speed and low fees with Bitcoin’s security, introducing the PEP-20 token standard to enable meme coin launches on the blockchain.

Bitcoin Pepe seeks to unlock $2 trillion of dormant Bitcoin capital for the $100 billion meme coin market. It offers a meme-friendly ecosystem, including a decentralized exchange akin to Solana’s pump.fun.

While the project has garnered over 10,000 social media followers and reflects retail enthusiasm for meme coins, its speculative nature carries significant risks just as with any other memecoin project.

However, the Bitcoin Pepe presale launch aligns with a broader meme coin boom, following successful raises by projects like Pepe Unchained and Wall Street Pepe, signalling a possible presale success.

Notably, both the Grayscale Cardano ETF filing and Bitcoin Pepe’s presale highlight the dynamic evolution of the cryptocurrency market, with regulated investment vehicles and speculative ICOs catering to diverse investor appetites.

With the Cardano ETF awaiting clearance by the US SEC, investors could try the Bitcoin Pepe presale for possible returns once it gets listed on exchanges once the presale concludes.

The post NYSE Arca files 19b-4 for Grayscale Cardano ETF as Bitcoin Pepe’s presale goes live appeared first on CoinJournal.

• Bloomberg analysts looked at ETFs focused on Litecoin, Solana, XRP, and Dogecoin
• They believe a Dogecoin ETF has a 75% chance of being approved in 2025 followed by Solana at 70%, and XRP with 65%
• Nasdaq filed two ETF 19b-4 forms for CoinShares with the SEC, seeking the approval of a Litecoin and XRP ETF

Bloomberg ETF analysts James Seyffart and Eric Balchunas believe that a Litecoin ETF has a 90% chance of being approved in 2025.

Taking to X, Seyffart said: “@EricBalchunas and I took a look at the filings for spot crypto ETFs. We’re putting out relatively high odds of approval across the board. Mainly focused on Litecoin, Solana, XRP, and Dogecoin for now.”

In a table, Seyffart notes that a Dogecoin ETF has a 75% chance of approval, a Solana ETF has a 70% chance, and an XRP ETF has a 65% approval rating.

NEW: @EricBalchunas and I took a look at the filings for spot crypto ETFs. We’re putting out relatively high odds of approval across the board. Mainly focused on Litecoin, Solana, XRP, and Dogecoin for now.

Here’s the table with the odds and some other details: pic.twitter.com/xaXaNXLb0M

— James Seyffart (@JSeyff) February 10, 2025

Seyffart added that it’s unlikely the market will see an XRP ETF until the whole Ripple/XRP/SEC case is settled, finished, or has some sort of outcome.

“The SEC needs to untangle that mess,” he said.

Nasdaq files ETF forms

The news comes as Nasdaq filed two 19b-4 forms with the US Securities and Exchange Commission (SEC) on behalf of CoinShares for Litecoin and XRP exchange-traded funds (ETFs).

Nasdaq is seeking approval to list and trade a CoinShares Litecoin ETF and XRP ETF following CoinShares S-1 filings submission in January. Crypto ETFs have gained in popularity since the US spot Bitcoin ETFs launched last January.

CoinShares is hoping to take advantage of this by expanding its presence into the US market.

The news follows that of the Chicago Board Options Exchange (Cboe), which submitted four 19b-4 forms to the SEC last week. On behalf of  21Shares, Bitwise, Canary Capital, and WisdomTree, Cboe filed the forms for XRP ETFs.

In October, Bitwise filed an S-1 form for an XRP ETF with the SEC. Similarly, Canary Capital filed for an XRP ETF last year, reflecting its broader strategy to bring multiple crypto ETFs to the market.

A push for more crypto ETFs

With the launch of US spot Bitcoin and Ethereum ETFs, more are looking to capitalize on the introduction of other crypto ETFs into the market.

Back in October, Brad Garlinghouse, Ripple’s CEO, indicated that an XRP ETF was “inevitable.” At the time, he highlighted there was increased demand from both institutional and retail investors to gain exposure to digital assets.

To date, the total net inflow of Bitcoin ETFs is more than $40 billion since their approval, according to SoSoValue data.

Last July, Cboe filed two Solana ETFs with the SEC. The deadline for the SEC to provide a decision is expected next month.

Nasdaq also filed a 19b-4 form for a Litecoin ETF for Canary Capital in January. All of this is a broader push from several organizations keen to see different crypto ETFs in light of a favorable SEC following President Donald Trump’s inauguration last month.

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• Strategy, formerly MicroStrategy, has announced the purchase of another 7,633 Bitcoin (BTC).
• The company spent $742.4 million to bring its total investment to $31.1 billion and 478,740 BTC.

Strategy, formerly MicroStrategy, has added more than $742 million worth of Bitcoin (BTC) to its holdings.

The publicly-traded company’s founder and executive chairman Michael Saylor announced on Monday, Feb. 10 that Strategy had acquired 7,633 bitcoin. Strategy spent approximately $742.4 million to buy the new BTC haul, with each coin scooped at the average purchase price of $97,255 per bitcoin.

Strategy resumes BTC purchases

After a slight pause in its buying spree and undertaking a brand overhaul, the company is back to its super bullish ways. The 7,633 BTC brings Strategy’s total bitcoin holdings as of February 9, 2025 to 478,740 BTC.

The world’s largest corporate holder of Bitcoin has spent about $31.1 billion to stack the flagship digital asset, acquiring these at the average price of $65,033 per BTC.

Strategy has raised funds from share offerings, with the target being billions of dollars. Despite its fourth-quarter results showing a net loss of $3.03 per share, the company has doubled down on its investment and strategy.

Bitcoin rose to an all-time high above $109k on January 20, 2025, this coming as the crypto market celebrated Donald Trump’s inauguration.

While the price has struggled since and hovered below $98k on Feb. 10, analysts are bullish. Saylor’s prediction isthat BTC could hit the $13 million mark by 2045. Other forecasts have short term projections of $200k in 2025.

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