Overall News about the crypto market that could have relevance on the market trajectory or future developments
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Grayscale Files For Cardano ETF
- Recently, Grayscale also filed for Solana (SOL) and XRP ETFs, converting existing trust products into ETFs.
- Following the ADA ETF announcement, Cardano’s price spiked 1.5% to $0.71. The coin currently has a $25 billion market cap.
- Analysts now believe that altcoin ETFs have a better chance of SEC approval.
In the past 24 hours , 379,975 traders were liquidated , the total liquidations comes in at $1.57 billion
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President Trump signs order to establish Strategic Bitcoin Reserve, will hold as store of value akin to Fort Knox
- The U.S. will not sell any Bitcoin deposited into the reserve, and it will be kept as a store of value akin to a digital Fort Knox.
- The government will not acquire additional assets for the stockpile beyond those obtained through forfeiture proceedings.
- The U.S. government possesses 198,109 BTC, worth about $17 billion at the current market price, according to Bitcoin Treasuries.
- Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick are also authorized to develop budget-neutral strategies for acquiring additional bitcoin
- The executive order also establishes a U.S. Digital Asset Stockpile, consisting of digital assets other than bitcoin forfeited in criminal or civil proceedings.