BTC $100K, Exclusive Bitcoin MENA Deals, SEC Shakeup, Grayscale Eyes SOL ETF, ETH ETF Inflow Record
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Grayscale Files to Convert Solana Trust into ETF
Grayscale Investments has submitted a proposal to the U.S. Securities and Exchange Commission to convert its Grayscale Solana Trust (GSOL) into a spot exchange-traded fund on NYSE Arca. This move aims to enhance investor access to Solana by enabling trust shares to trade as an ETF on a regulated exchange. The filing follows Grayscale's Bitcoin (GBTC) and Ethereum (ETHE) ETF conversions and joins other recent spot Solana ETF requests. This move highlights growing institutional interest in Solana and the broader crypto market.
Trump Nominates Pro-Crypto Paul Atkins as SEC Chair
If Atkins, the former SEC commissioner, confirms his acceptance, the nomination will require Senate confirmation. This selection is part of a broader trend of crypto-supportive appointments in the coming administration, including figures like JD Vance as Vice President and Scott Bessent as Treasury Secretary. The SEC Chair and Treasury Secretary roles are particularly critical, as they could significantly influence the regulatory landscape and strategic planning for the U.S. crypto sector.
Ethereum ETFs Set Single-Day Inflow Record
U.S.-based spot Ethereum ETFs added nearly $333 Million on Friday, 29 November, marking their highest single-day inflows since launching in July. The surge was led by BlackRock's ETHA, which gained over $250 Million, and Fidelity's FETH, which attracted about $79 Million in investments. This influx highlights growing investor confidence in Ethereum and rising demand for digital asset exposure through traditional financial products beyond Bitcoin.
Market Review
At the time of writing, the total crypto market cap stands at $3.64 Trillion, marking a 10.3% increase over the past week.
Earlier today Bitcoin achieved a major milestone by surpassing the long-anticipated $100,000 mark. It reached a peak of over $103,000 and is currently trading around $102,000 +6.6% (7d).
Ethereum has also shown positive momentum, with its price hovering around $3,900, +6.94% (7d).
XRP has emerged as the standout performer among altcoins this week. It briefly surpassed $150 Billion in market capitalization and is now valued at approximately $132 Billion. This surge has propelled XRP past BNB, Solana, and USDT, securing its position as the third-largest cryptocurrency by market cap. XRP is currently trading at $2.37 +59.98% (7d).
Dogecoin has also experienced a favorable week, with its market capitalization growing by 7.2%. It currently stands at around $64 Billion, with its price at $0.436 +7.38% (7d).
The bullish market sentiment is reflected in the Fear and Greed Index, which remains in the extreme greed zone at 85 points, up 1 point from the previous week.
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Quick News
The digital asset space saw extraordinary gains last month, with total market capitalization surging to $3.2 Trillion, marking one of the largest monthly increases in the sector's history.
This represents the highest onchain volume on Ethereum in nearly three years, since December 2021’s $241 Billion.
The innovative cruise line has announced a groundbreaking move, becoming the first in the maritime industry to accept fares in Bitcoin.
Nearly 20,000 Bitcoin has been transferred to a new wallet, igniting discussions about the nation's cryptocurrency strategy as President-elect Donald Trump prepares to take office in January.
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