Breaking: SEC Approves April 30 Launch for XRP ETF.
The SEC has given the green light for ProShares Trust to proceed with its XRP ETF offerings, officially setting April 30, 2025, as the effective date. According to a newly filed Form N-1A, the launch will cover multiple XRP-focused ETFs.
The registration update specifies that the amendment designates a new effective date for a previously filed amendment regarding the ProShares UltraShort XRP ETF, ProShares Ultra XRP ETF and ProShares Short XRP ETF. The SEC filing notes that the amendment was made solely for the purpose of setting the April 30 launch.
The Trust’s principal executive offices are located in Bethesda, Maryland, with ProShare Advisors LLC serving as the investment advisor. Richard Morris of ProShare Advisors is listed as the agent for service, supported by legal counsel from Dechert LLP in New York.
Ethereum’s price jumped above $3,500 as optimism grows over potential spot ETH ETF approvals by the SEC. Analysts suggest a decision could come by late 2024. Meanwhile, Ethereum’s Pectra upgrade, expected in early 2025, aims to improve scalability and wallet security. Layer-2 networks like Arbitrum and Optimism continue gaining traction, reducing fees. However, regulatory concerns persist as the SEC debates whether ETH is a security. Staking yields remain strong, with over 28% of supply locked. Institutional interest rises, with ETH futures open interest hitting record high.
The U.S. and EU have extended the tariff pause on steel and aluminum, avoiding a potential trade war. The truce, set to expire soon, will continue while negotiations on sustainable steel production progress. Critics argue the pause benefits EU exporters but leaves U.S. industries vulnerable. Meanwhile, the Biden administration faces pressure from unions to reinstate protections. China’s overproduction remains a concern, with calls for global solutions. Experts warn unresolved disputes could revive tariffs, impacting inflation and supply chains. The extension signals cooperation but highlights lingering trade tensions. Stakeholders await a long-term deal by 2025.
Bitcoin (BTC) is trading around $63,000, stabilizing after recent swings tied to macroeconomic uncertainty and mixed ETF flows. The U.S. SEC delayed its decision on Ethereum ETFs, causing brief market jitters, but Bitcoin’s resilience suggests strong institutional support. Meanwhile, Bitcoin miners face pressure post-halving, with some selling reserves to cover costs. On-chain data shows accumulation by long-term holders, signaling bullish sentiment. Macro factors like Fed rate cuts and inflation remain key drivers. As Bitcoin consolidates, analysts eye a potential breakout if ETF inflows rebound or risk appetite improves. Regulatory developments and institutional adoption continue shaping BTC’s trajectory.
Bitcoin (BTC) often moves independently of traditional markets, earning its reputation as "digital gold" and a potential hedge against inflation. While stocks and bonds react to economic data, interest rates, and corporate earnings, Bitcoin’s price is driven by adoption trends, regulatory news, and macroeconomic uncertainty. However, correlations shift—BTC sometimes mirrors risk-on assets like tech stocks during liquidity surges but decouples during crises. Its volatility exceeds traditional assets, attracting traders but deterring conservative investors. As institutional adoption grows, Bitcoin’s relationship with markets evolves, blurring lines between crypto and mainstream finance. Whether a hedge or high-risk bet, BTC remains a market disruptor.
Trump crypto soars as president offers dinner to top holders
The price of Donald Trump's cryptocurrency has soared after the US president promised to host two special events for its top investors.
The website for the $Trump meme coin says its 220 biggest holders will be invited to a private gala dinner with the president on 22 May, describing it as the "most EXCLUSIVE INVITATION in the world."
According to crypto trading platform Coinbase, $Trump jumped by more than 70% after the announcement. But it remains well below the record high of more than $74 (£42.40) reached shortly after its launch in January. The digital currency is one of several crypto-related ventures launched by businesses linked to Trump, who has called himself the "crypto president". As well as the gala dinner, which will be held at the Trump National Golf Club in Washington DC, there will be "an ultra-exclusive private VIP reception with the President" for the top 25 coin holders, the coin's website said. Trump tokens in circulation are currently worth a total of around $2.5bn. They were first released just days before his inauguration on 20 January. The move was criticised by several people in the crypto industry, with some calling it "a stunt" First lady Melania Trump also launched a cryptocurrency on the eve of the inauguration. Meme coins are often used by speculators to make money or to allow fans to show support to a celebrity or moment in internet culture. Shortly after returning to the White House this year, Trump signed an executive order to create a presidential working group tasked with proposing new crypto laws and regulations. He has also signed an order to create a Strategic Bitcoin Reserve as well as a Digital Asset Stockpile, which will include other digital currencies. Those funds will be stocked with coins forfeited to the federal government as part of criminal or civil proceedings. This week, Trump's media company announced plans to launch exchange traded-funds (ETFs). The financial products to be launched by Trump Media & Technology Group, owner of the Truth Social platform, and its partners will include digital assets as well as stocks with a "Made in America focus". ETFs are investment funds that hold multiple assets. They can be bought and sold in a similar way to shares. #DinnerWithTrump
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According to PA News, global retail giant SPAR is conducting a trial for cryptocurrency payments in Switzerland. The company, which operates over 13,900 stores across 48 countries in Europe, Asia, Africa, and Australia, has reportedly begun accepting Bitcoin payments via the Lightning Network at its store in Zug, Switzerland. This initiative represents one of the largest attempts by a major retail chain to integrate cryptocurrency payments. SPAR's move indicates its interest in catering to the growing community of cryptocurrency holders and its willingness to explore digital payment methods. Industry experts anticipate that this trial will provide valuable insights into the feasibility and customer demand for cryptocurrency payments in mainstream retail settings.
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