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XRP News Today: XRP-Spot ETF Filing Sparks Market Buzz as BTC Eyes $95k
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Key Points:
- WisdomTree files for XRP-spot ETF, fueling expectations of SEC approval amid leadership changes in 2025.
- Trump’s potential pro-crypto SEC Chair raises hopes for Ripple case resolution and broader ETF market growth.
- BTC drops below $93K as profit-taking hits, but bullish sentiment keeps predictions above $150K for 2025.
In this article:
“WisdomTree’s registration will likely be followed by an S-1 registration filing with the SEC at some point. They would then join other issuers who have recently filed S-1s for XRP ETFs, including Bitwise Invest, 21Shares, and Canary Funds.”
WisdomTree registered for an XRP-spot ETF after SEC Chair Gensler announced his departure on January 20, 2025.
Expectations for Trump to nominate a pro-crypto SEC Chair have fueled speculation about the SEC approving XRP-spot ETFs. However, ETF approvals could hinge on the SEC’s decision regarding its appeal in the Ripple case.
Last week, Terrett reported that SEC staff engaged with SOL-spot ETF issuers on their applications. However, the SEC has remained silent on XRP-spot ETF applications to date, suggesting agency staff may be waiting on a decision regarding the appeal.
In October, Canary Funds applied for a US XRP-spot ETF after Bitwise’s application in September. This month, Grayscale submitted a Form 8-K, requesting the SEC’s permission to convert the Grayscale Digital Larga Cap Fund (GDLC) into a crypto-spot ETF. Grayscale’s crypto-spot ETF would hold BTC, ETH, AVAX, SOL, and XRP, the first US multi-crypto-spot ETF.
XRP climbed to a session high of $1.5399 on news of WisdomTree’s filing before retreating.
XRP Price Action
On Monday, November 25, XRP declined by 1.26%, following a 2.54% loss on Sunday, closing at $1.4153. The broader crypto market fell 3.84%, taking the total crypto market cap to $3.150 trillion.
Looking ahead, Trump’s SEC Chair nomination remains the focal point amid speculation that the SEC may drop the appeal against Ripple.
A pro-crypto SEC Chair favoring an end to legal cases against crypto firms could fuel bets on a US XRP-spot ETF market. Increasing XRP demand through spot ETFs could drive XRP toward the May 2021 high of $1.8171. However, XRP must break above the November 23, 2024, high of $1.6299.
Conversely, XRP could fall toward $1 if an incoming Chair suggests the SEC may continue pursuing the appeal against Ripple.
BTC Slides Below $93k on Profit-Taking
On Monday, BTC succumbed to profit-taking, dropping below $93k as investors awaited fresh price catalysts. Despite Monday’s retreat, sentiment remains bullish.
The Kobeissi Letter, an industry-leading commentary on the global capital markets, highlighted optimism for BTC’s 2025 outlook, stating,
“Prediction markets now see a BASE CASE of bitcoin rising above $150,000 by the end of next year. The odds of bitcoin rising above $150,000 in 2025 have jumped from 13% to 58% in just 2 weeks, according to Kalshi. The medium expectation is now for bitcoin to rise to $158,000 in 2025. There is also a 77% chance of bitcoin crossing above $125,000 next year. Prediction markets think bitcoin has much more room to run.”
Supply-demand shifts remain crucial for BTC to break above the $100,000 threshold. BTC-spot ETF market flow trends and progress toward BTC becoming a US strategic reserve asset may tilt the supply-demand balance in its favor.
US BTC-Spot ETF Market Ends Five-Day Winning Streak
On Monday, the US BTC-spot ETF market faces the prospect of ending its five-day winning streak. According to Farside Investors:
- Fidelity Wise Origin Bitcoin Fund (FBTC) had net outflows of $134.7 million.
- Bitwise Bitcoin ETF (BITB) saw net outflows of $280.7 million.
- Grayscale Bitcoin Trusts (GBTC) reported net outflows of $158.2 million.
- ARK 21Shares Bitcoin ETF (ARKB) had net outflows of $110.9 million.
Excluding flow data for iShares Bitcoin Trust (IBIT), BTCO, and HODL, net outflows totaled $684.1 million. Nevertheless, Monday’s outflows only made a minor dent in last week’s inflows of $3,353.1 million.
Bloomberg Intelligence Senior Analyst Eric Balchunas remarked on BTC-spot ETF flow trends and BTC’s retreat, saying,
“I see a lot of CT baffled/frustrated as to how Saylor can buy $5b of btc but price doesn’t move up- which is same thing I hear sometimes about ETFs after big flows. Here’s data showing what I’ve long been saying: the call is coming from inside the house, it’s long-term hodlers.”
Bitcoin (BTC) Price Prediction
On Monday, BTC slid by 5.16%, reversing a 0.80% gain from Sunday, closing at $92,845. BTC dropped below $95,000 before finding support.
On Tuesday, November 26, SEC Chair-related updates and BTC-spot ETF flow trends require consideration. A pro-crypto Chair supporting crypto-friendly regulations could boost investor appetite for BTC and the broader crypto market. However, BTC-spot ETF market flow remains crucial for BTC’s move to $100,000.
Stay tuned for updates on how regulatory shifts and market dynamics influence crypto trends.
About the Author
Bob Masonauthor
With over 20 years of experience in the finance industry, Bob has been managing regional teams across Europe and Asia and focusing on analytics across both corporate and financial institutions. Currently he is covering developments relating to the financial markets, including currencies, commodities, alternative asset classes, and global equities.
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