News

Crypto Giant 21Shares Submits Registration Statement for XRP Exchange-Traded Fund

Published

2 hours ago

November 2, 2024

The crypto exchange-traded fund (ETF) provider 21Shares is now trying to launch an XRP-focused ETF in the United States.

The firm filed a Form S-1 registration statement with the Securities and Exchange Commission (SEC) on Friday.

The proposed product, called “the 21Shares Core XRP Trust,” is a passive investment vehicle that tracks the price of the payments altcoin.

21Shares isn’t the first firm to try to get the crypto product off the ground. Bitwise Asset Management, the largest digital asset index fund manager in the US, filed an initial registration statement for an XRP ETF last month.

It’s been a busy year for crypto investment products.

The SEC greenlit the first spot market Bitcoin (BTC) ETFs in January, bringing in billions of dollars worth of inflows to the top digital asset by market cap. The regulator subsequently approved Ethereum (ETH) ETFs for trading in July, and multiple firms, including 21Shares, applied for Solana (SOL) exchange-traded products also in July.

Bloomberg ETF analyst Eric Balchunas argued at the time that the SOL filings represented “a call option on the POTUS election.”

XRP is trading at $0.516 at time of writing. The seventh-ranked crypto asset by market cap is up more than 1% in the past day and nearly 2% in the past week.

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Bitcoin

Bitcoin ETFs record total daily outflow of $54.94 million as BTC hovers at $69,000

Published

24 mins ago

November 2, 2024

admin

The U.S. Bitcoin spot exchange-traded funds have recorded a daily outflow of $54.94 million as of Nov. 1, and Ethereum follows suit with a $10.93 million outflow.

The latest data from SoSoValue shows that the U.S. Bitcoin (BTC) spot ETFs exhibited a $54.94 million outflow on Nov. 1.

The one-day net inflow of IBIT stood at $0. According to the data, the cumulative net inflow of IBIT stood at $26.14 billion.

On the other hand, GBTC exhibited a $5.51 million outflow, which has brought its cumulative net inflow to -$20.16 billion.

FBTC, ARKB, and BITB showcased a net outflow of $25.64 million, $24.13 million, and $5.64 million, respectively.

Bitcoin ETFs record total daily outflow of $54.94 million as BTC hovers at $69,000 - 1 — US BTC Spot ETF inflow data from SoSoValue

Grayscale Bitcoin Mini Trust is the only one that enjoyed an inflow of $13.51 million. This has brought its cumulative net inflow as of Nov. 1 to $502.07 million.

The majority of the Bitcoin ETFs reported outflows primarily rather than inflows. The cumulative total net inflow of all Bitcoin ETFs came around $24.15 billion as of Nov. 1.

Ethereum ETFs record $10.93 million in outflow

In comparison to Bitcoin ETFs, Ethereum (ETH) ETFs also recorded a negative outflow date with $10.93 million. The cumulative total net inflow also stood at -$491.44 million as per SoSoValue data.

Interestingly, ETHE is the only Ethereum ETF that recorded an outflow of $11.43 million. This brought its cumulative net inflow to -$3.13 billion.

Other ETFs, including ETHA, ETH, FETH, ETHW, ETHV, and EZET, stood at $0 with no inflow or outflow.

QETH, on the other hand, enjoyed over $502,000 in inflow, bringing its cumulative net inflow to $25.82 million.

The poor inflow comes when the overall crypto market cap has plunged to $2.32 trillion. Bitcoin price has dropped to the $69,400 level, while Ethereum has gone down to the $2,490 level at press time.

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funding

Kraken bags $42.5m from Optimism, Glow Labs raises $30m

Published

3 hours ago

November 2, 2024

admin

This week, crypto exchange Kraken stole the show with its $42.5 million grant raise from Optimism.

Kraken has disclosed its latest decision to launch Ink, a layer-2 on the Optimism (OP) blockchain. As a part of the deal, Optimism has announced that they will offer $42.5 million, or 25 million OP tokens.

This has brought the exchange’s funds raised to date to $164.8 million. Crypto.news dug deeper into the firms that raised the most capital from Oct. 27 to Nov 2.

Here are the firms that bagged million-dollar amounts during this period, according to data from Crypto Fundraising.

Glow Labs, $30 million

Glow Labs is a community-powered platform that aims at ramping up global solar energy adoption.
The firm raised $30 million from Framework and Union Square Ventures.

Nillion, $25 million

Nillion has raised $25 million from investors like Hack VC.
So far, the decentralized network for secure storage has raised $50 million.

Ellipsis Labs, $21 million

The platform that builds sustainable and efficient DeFi protocols has raised $21 million from HAUN.
Ellipsis Labs has raised a total of $23.3 million to date.

Chainway Labs, $14 million

The blockchain infrastructure company focused on Bitcoin, Ethereum, and Zero Knowledge technology has raised $14 million in a Series A round from Founders Fund and other investors.
Chainway Labs has raised $16.7 million so far.

Today, we announce our $14M Series A led by @foundersfund, joined by @maven11capital, @mirana, @erikvoorhees, @balajis, @bitfish1, @0xMert_ & more.
This will help us expand Bitcoin from digital gold to an active, programmable asset, with @CitreaOrigins driving this expansion 🧵 pic.twitter.com/DxkgoeLERH
— Citrea (@citrea_xyz) October 31, 2024

Gelato Network, $11 million

Gelato Network has raised $11 million in a Series A round led by HACK VC.
The decentralized backend for web3 has raised $23.2 million to date.

Sapien AI, $10.5 million

Sapien is a gamified Web3 platform where users play and train AI by completing various challenges.
The firm has raised $10.5 million in a seed round led by Variant.

PumpBTC, $10 million

The liquid staking platform has raised $10 million in a seed round.
Lead investors include SevenX Ventures, Mirana Ventures, etc.

BitSmiley, $10 million

BitSmiley encompasses a stablecoin, a lending platform, and a derivatives protocol.
The firm raised $10 million from various investors like Nxgen, IBC Group, etc.