Crypto News

Unlike those bland SEC-approved “spot” Bitcoin and Ether products snoozing as ’33 Act commodity trusts (seriously, who reads that stuff?), this baby’s launching as a ’40 Act open-end ETF. Translation: it’s the regulatory equivalent of doing the chicken dance at a business meeting-unexpected, a little wild, but oddly effective. It means this ETF can mix and mingle assets instead of hoarding just one like a miserly dragon clutching gold.

Ethereum decided to flex its muscles in early September, smashing through the $4,600 mark like it was a piñata filled with Bitcoin. This isn’t just a new high-it’s a neon sign flashing “We’re back, baby!” for the crypto world. Investors who’ve been sitting on the sidelines are now frantically Googling “How to buy ETH without looking like a noob.” 🤓

The ever-watchful Strategic Solana Reserve tracker reported on Tuesday that treasuries now boast a hefty 17.11 million tokens, valued at a cool $4.03 billion. That’s roughly 3% of the entire Solana supply, which totals over 600 million tokens. Somewhere in a parallel universe, 97% of Solana is probably hanging out at a cryptic barbeque without an invite.

This curious little rift between the mighty cryptocurrency and all the other fancy numbers printed on Wall Street’s magic scrolls has the so-called “experts” scratchin’ their noggins and wonderin’ if Bitcoin’s still fit for this here wild global rodeo.

Yet mark this: the market’s caution is but a timid whisper compared to the grand question of the hour-shall the Fed’s potential dovish shift reignite Ethereum’s rally? Or shall it collapse into a farcical heap of despair? Only time shall tell! 🎭

Among the rabble, Solana ($SOL) prances about, up 8% since last week. When the grandees of the crypto world stir, the peasants-er, smaller altcoins-inevitably follow suit. How quaint. 🌾

Coinbase, that fickle courtier, has cast off 90% of its XRP reserves, a move as dramatic as a Victorian scandal. Meanwhile, smart money whispers sweet nothings, stacking the dip with the fervor of a romantic poet. July’s 33% spike was but a flirtation-Q4 may bring the grand proposal. 💍📈

At press time, dear old ETH decided to play it cool, trading at $4,508, down a modest 0.36%. Clearly, the market’s holding its champagne for the after-party.

In a blockchain plot twist that no one saw coming, Galaxy decided to throw its digital wallet wide open on Sunday and snagged a cool 1.2 million SOL tokens from various exchanges. But wait-there’s more! These tokens were swiftly transferred to Fireblocks, a “custody provider” that probably has more security than Fort Knox. This wasn’t just a one-off splurge, either. Oh no, this marks the continuation of Galaxy’s ongoing buying spree, which now totals a whopping $1.55 billion in Solana acquisitions. Somebody has a very big crypto shopping cart.

Apparently, tracking the ‘performance’ of XRP before subtracting all the fees and expenses is now considered a service. Bless their hearts. They want a piece of your hard-earned kopeks, and they’re willing to call it “direct exposure” to the third-largest… well, let’s just say ‘digital curiosity’ by market cap.