XRP Making Noise
The largest american crypto exchange Crypto.com listed XRP derivative on 2/14 which should drive millions in daily trading volume. Traders and market makers will now have various other trading options in XRP and this is seen as a major advancement in cryptocurrency exchange offerings.
Also, wih SEC now acknowledging Grayscale and 21Shares XRP filing the seimetament moves more bullish that an ETF approval will be very likely in 2025. Polymarket odds for XRP approval in 2025 jumped again to 81% as the new crypto regulation industry has become much easier to work with.
Abu Dabi's sovereign wealth fund revealed they have been and will continue to buy millions of dollars in BTC. The announced they current already hold $436 million in Bitcoin via their IBIT holdings. This news is viewed as a positive development as the US is considering their own investment into BTC.
Texas BTC bill has received an official hearing date of 2/18 for its committee review. Assume the committee on Business and Commerce provides its approval, the next step will be review by the House.
New York Stock Exchange files for proposal to allow Staking for Grayscale Ethereum ETF. This would be a huge shift for crypto assets providing investors the opportunity to buy the ETH EFTs and earn additional yield while staking their ETH. This would be expected to drive a ton more demand to ETFs where staking would be allowed.
Quick Hits
- In the last few days Michigan and Georgia become the latest states to introduce a strategic bitcoin reserve bill.
- Korea to lift corporate crypto ban.
- Coinbase and Robinhood earnings reports crush estimates and analysts raise targets.
Fun Fact less than 7% of the global population is invested in crypto.
