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Crypto

U.S. SEC includes XRP, Solana in new Nasdaq order, signaling institutional entry for four cryptocurrencies

The U.S. Securities and Exchange Commission approved a Nasdaq Texas rule change that defines bitcoin and ether, along with solana and XRP, as “digital commodities” under exchange rules. The amendment allows actively managed crypto strategies and permits funds to hold assets that do not meet listing standards up to 15 percent of net asset value. The SEC said the move does not create a new federal commodities classification or approve specific XRP or Solana ETFs.

Crypto

Bitcoin rally loses steam, range-bound trading likely for now

Bitcoin has been capped by strong selling pressure in the $83,000 to $86,000 range, raising the possibility it will trade in a range for now. On-chain analytics firm Glassnode said the spot price is stuck between overhead resistance and lower support. It cited long-term holder selling in the upper band and strong buying support at $62,000 to $65,000 formed during summer trading. It also pointed to higher U.S. yields and muted spot ETF trading activity.

Crypto

BlackRock\'s IBIT outpaces Vanguard\'s S&P 500 ETF in cumulative return

BlackRock\'s spot bitcoin exchange-traded fund iShares Bitcoin Trust (IBIT) has surpassed Vanguard\'s flagship S&P 500 ETF in cumulative returns since its launch in January 2024. Bloomberg senior ETF analyst Eric Balchunas said IBIT slightly outperformed over the comparison period. Bloomberg data show IBIT is up 71% since inception, while Vanguard\'s S&P 500 ETF gained 66% in total return. IBIT\'s assets stand at $61.4 billion, versus about $11.0 billion for Fidelity\'s fund.