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SEC Approval: BTC, ETH, XRP, SOL, and XLM Officially Included
The U.S. Securities and Exchange Commission (SEC) has officially approved the Nasdaq Crypto Index US ETF (NCIQ), launched by Hashdex. Thanks to the new regulation, the fund will not only offer Bitcoin (BTC) and Ethereum (ETH) but will also be able to add leading altcoins such as XRP, Solana (SOL), and Stellar (XLM) to its portfolio. This decision is seen as a significant milestone in diversifying regulated crypto investment instruments.Hashdex's ETF was established in Delaware, and last week, a new trust agreement, revised for the third time, entered into force. This brings the fund into compliance with Nasdaq's current listing standards. With the SEC approval, the fund's fiscal year structure remains unchanged, but it has gained official authorization to add altcoins such as XRP, SOL, and XLM.New Rules Bring Expedited ApprovalThe SEC recently adopted new rules that expedite the listing process for crypto ETFs. While it could previously take up to 270 days for an ETF to receive approval, the new standards have reduced this timeframe to 75 days. This eliminates the need for individual reviews during the application process. Now, funds that meet certain requirements can launch directly to the market much sooner.Canary Capital Group founder Steven McClurg stated that there have already been approximately a dozen applications filed with the SEC, with more in the pipeline, adding, "We'll see a wave of launches in the last quarter of this year." DGIM Law's Jonathan Groth also stated that the crypto ETF market could experience a "boom period" starting in October.The fund's new allocation is noteworthy.The updated fund allocation maintains a strong emphasis on BTC and ETH, allocating 6.93% to XRP, 4.11% to Solana, and 0.33% to Stellar. Projects such as Cardano (1.22%), Chainlink (0.50%), and Uniswap (0.14%) are also included in the portfolio in small percentages. This makes the Hashdex ETF one of the first funds to officially include Stellar (XLM). Crypto market expert Nate Geraci, in a social media post, described the SEC's approval as "a significant development that paves the way for diversification in crypto investment." While the majority of users welcomed the decision, some commentators emphasized that adding altcoins to ETFs would foster broader market acceptance.The SEC's new standards allow funds to be approved quickly if they meet certain conditions. For example, the listed crypto asset must have at least six months of CFTC-regulated futures contracts or another ETF must directly hold 40% of that asset. This has enabled projects like XRP, SOL, and XLM to quickly become part of the regulated investment vehicle.Grayscale also took action shortly after the SEC's announcement, converting its private fund into a publicly traded product, the CoinDesk Crypto 5 ETF. This ETF includes BTC, ETH, XRP, SOL, and ADA. Grayscale CEO Peter Mintzberg stated that the swift action stemmed from "the goal of providing greater regulatory clarity and investor access."Crypto market analysts expect ETFs focused on XRP and Solana to launch in October. However, the real question is whether investors will genuinely show interest in these altcoins beyond Bitcoin and Ethereum. The SEC's recent decision has been noted as one of the most significant steps in the opening of altcoins to traditional markets.
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25 Sep 2025
What is Bitcoin (BTC)?
Bitcoin, the first cryptocurrency, has become almost universally recognized. Bitcoin, a product of blockchain technology, also serves as a medium of exchange, storage, and measurement, much like the dollar or euro. But with a difference! Neither the Fed nor the ECB are behind it. Indeed, its primary distinguishing feature is its lack of any central authority.So, when did Bitcoin, the digital currency we're all familiar with, come into being? What are its evolutions since its launch? What are its true uses? We'll explore this in detail in our blog post.The Definition and Origins of BitcoinWhat does Bitcoin mean? The term Bitcoin is a combination of the words bit (the smallest piece or unit of something) and coin (coin). Bitcoin is a digital currency that operates with an open-source ecosystem that offers an alternative to today's monetary system and allows everyone to access it.What is BTC? Cryptocurrency (virtual currency) is a type of digital currency. In other words, digital currency encompasses cryptocurrencies. In digital money, units of account are traditional, legally circulating currencies like the Euro, Dollar, and Turkish Lira, while virtual currencies, such as the Linden Dollar or Bitcoin, are later-invented currencies that lack legal circulation.Records of Bitcoin transactions are kept in blockchain databases, which can be summarized as a global ledger. Blockchain can be defined as an electronic medium that enables fast, low-cost, and secure money transfers between parties. This technology is based on a peer-to-peer (P2P) system.Peer-to-peer electronic cash systems allow you to easily send online payments to other parties without requiring approval from any intermediary institution (bank, etc.).The 2008 Whitepaper and Satoshi NakamotoWhen was Bitcoin released? The history of Bitcoin dates back approximately 20 years. Bitcoin was created in 2008 by an individual or group using the name or pseudonym Satoshi Nakamoto, whose identity is unknown. Like other revolutionary technology developers worldwide, Satoshi Nakamoto published a paper online before launching Bitcoin. His 2008 whitepaper, also known as Bitcoin: A Peer-to-Peer Electronic Cash System, detailed the foundation, technical structure, and goals of a crypto asset or blockchain project.To this day, the identity of Satoshi Nakamoto remains unknown, and even his very existence is a matter of debate.Genesis Block and the First Transfer (2009)The blockchain technology on which the Bitcoin digital currency is based stores transaction data transparently and securely. Because data is stored in a chained structure of blocks, it cannot be altered or deleted.While transactions in traditional systems are verified through a trusted third party, thanks to the blockchain, transactions occur directly between parties without the need for a central authority.The Bitcoin Genesis Block, which forms the basis of blockchain technology, is the first block in a blockchain network. As its name suggests, it represents the beginning of the network and forms the backbone of the entire blockchain system. Satoshi Nakamoto limited the maximum number of Bitcoins that could be generated in the Bitcoin Genesis Block to 21 million.The first Bitcoin block was created on January 3, 2009. The first Bitcoin transfer then took place on January 12, 2009, between Satoshi Nakamoto and Hal Finney, the cryptographer who helped him develop the system.Rationale for its emergence: Criticism of the financial systemToday, when you make an online purchase, your payment first goes to a bank or credit card company. These intermediaries then deduct transaction and commission fees. Once your transaction is confirmed by the bank, the payment reaches the merchant.Your bank is the sole accountant for your payments. Due to the pre-signed agreements, you are obligated to trust your bank 100% during this process.In 2008, Satoshi Nakamoto introduced the idea of a secure, fast, and low-commission digital currency that could be sent directly from person to person, without the need for banks or any other intermediaries. This idea solved all the problems of current internet payments.The financial crisis, which began in the US due to the Mortgage System and spread to EU economies in 2008/2009, becoming global, caused the national currencies of many countries around the world, especially the US dollar, to lose significant value. This situation profoundly shook the widespread belief that these currencies would not lose value.Bitcoin, the decentralized digital currency that began operating in 2009 and based on an article published by Satoshi Nakamoto in 2008, quickly became popular, attracting the attention of investors seeking a new monetary unit of value.Bitcoin's History: Major Turning PointsDue to the 2008 global financial crisis, trust in the traditional banking system diminished. During this period, an individual or group named Satoshi Nakamoto took a bold step.On October 31, 2008, Nakamoto published the article titled Bitcoin: A Peer-to-Peer Electronic Cash System. In this article, Nakamoto laid the foundation for a decentralized financial system, unlike the traditional structure.January 3, 2009, marked the beginning of a new era in the financial world. Satoshi Nakamoto created Bitcoin's first block, the Bitcoin Genesis Block. This innovation can also be considered the date of Bitcoin's release.What is a Genesis Block? The Genesis Block is the first block on the Bitcoin network and is also known as "Block 0." It can be translated into Turkish as "Starting Block." As its name suggests, it represents the beginning of the network. Bitcoin blockchain technology operates as a transparent and secure ledger that verifies transactions without relying on a central authority.Each block contains transactions made within a specific timeframe. It is then added to the chain using an encrypted hash (encryption algorithm). The Bitcoin Genesis Block is the first link in this system, and all subsequent blocks are added to it.With the creation of the Genesis Block, the Bitcoin network officially launched, and the first 50 Bitcoins were generated. However, these Bitcoins were not spent. Today, they remain symbolically in a wallet believed to belong to Nakamoto.2010: First commercial transaction (Pizza Day)While discussions continue regarding the acceptance of Bitcoin as a payment method, the first transaction in this regard occurred on May 22, 2010, when two pizzas were purchased for 10,000 BTC.The first transaction using Bitcoin was made on bitcointalk.org between software developer Laszlo Hanyecz and Satoshi Nakamoto. This date is celebrated worldwide as Bitcoin Pizza Day. 2012 / 2016 / 2020: Halving EventsMiners play a critical role in the Bitcoin network, ensuring it remains decentralized and secure. While banks verify transactions in traditional financial systems, miners undertake this task in Bitcoin. Using powerful computers, miners solve complex mathematical problems and create new Bitcoin blocks. Miners who successfully add blocks earn Bitcoin as a reward.Initially, miners were given a reward of 50 Bitcoin for each block. Following the halving events in 2012, 2016, and 2020, this reward was reduced to 25, 12.5, and 6.25 Bitcoin, respectively. In 2024, it dropped to 3.125 Bitcoin. A halving, which occurs thanks to an immutable code that balances supply and demand in favor of Bitcoin, is simply a periodic halving of the reward per block. 2021: El Salvador's Legal AdoptionEl Salvador adopted Bitcoin as its official currency on September 7, 2021. This paved the way for BTC to be accepted as legal tender for the purchase and sale of goods and services in the country.El Salvador's President, Nayib Bukele, had recognized Bitcoin's potential in enabling Salvadorans living abroad to easily send money back home.El Salvador relaxed its Bitcoin regulations due to a $1.3 billion loan agreement with the IMF. The IMF stated that using Bitcoin as official currency carried economic risks and stipulated that the loan be relaxed. Bitcoin's volatile value, low adoption rates, and concerns from foreign investors also influenced this decision. Therefore, as of April 1, 2025, the requirement for businesses to accept Bitcoin was lifted, but Bitcoin remains available for voluntary use in the country. All-Time Price Peak ($124,000)Bitcoin's all-time high was recorded on August 14, 2025. On that day, Bitcoin reached an all-time high of $124,457. This price far surpassed the previous record of $69,000 set in 2021. Considering the current exchange rate, this figure is equivalent to approximately 5,162,000 Turkish Lira.Why Is Bitcoin Valuable?According to Erik Voorhees, an American cryptocurrency entrepreneur and founder of cryptocurrency exchange ShapeShift, Bitcoin's value stems from its convenience and scarcity.In traditional financial systems, users must trust an intermediary. However, in the Bitcoin system, transactions occur directly between users. Therefore, it is censorship-resistant and cannot be stopped by anyone.This decentralized structure reduces intermediary costs. By speeding up transactions, it offers financial freedom to those who lack access to banking services.Bitcoin's limited supply allows it to maintain its value against inflation. It also offers users financial independence, allowing them to fully decide how to manage their money. Here are some key features of Bitcoin:Decentralization PrincipleBitcoin is a cryptocurrency that offers a direct, peer-to-peer payment system independent of central authorities.Bitcoin's independence from central authorities provides many advantages, including trust, financial access, low costs, transparency, and security.Nodes worldwide verify transactions, rather than a centralized system.The First and Most Widely Used CryptocurrencyModern cryptocurrencies are decentralized systems based on blockchain technology. In the crypto universe, blockchain serves as a public ledger of encrypted transactions stored and updated on the computers of thousands of people worldwide. Transactions are anonymous but public.While Bitcoin was not the world's first digital currency or the first application to utilize blockchain technology, it was the first cryptocurrency to combine all these elements in a single system. Therefore, it remains the most traded and widely used cryptocurrency today. Secure, Transparent, and Censorship-ResistantAll transactions related to Bitcoin, which is not under the control of any government or bank, occur on a network managed by users (the blockchain). The blockchain network operates as a data ledger where all transactions are transparently recorded and is highly secure.Transactions conducted directly between users are resistant to censorship. Because all Bitcoin transactions are recorded on the blockchain, it has a transparent structure that can be verified by anyone. This significantly reduces the risk of fraud.Who is the Founder of Bitcoin?Satoshi Nakamoto, a very important figure in cryptocurrency history, is the name or pseudonym of the individual or group known as the creator of Bitcoin.When was Bitcoin founded? Nakamoto played an active role in Bitcoin's development until December 2010. He is also the creator of the blockchain database.Satoshi Nakamoto remains anonymous today. However, general claims suggest that Nakamoto was born on April 5, 1975, was of Japanese descent, lived in the United States or Japan, and was a cryptographer and computer scientist.Some of the candidates thought to be Satoshi Nakamoto, the founder of Bitcoin, include: Nick Szabo, Dorian Nakamoto, Vincent van Volkmer, Hal Finney, Craig Steven Wright, Paul Le Roux, Cyrano Jones, Ross Ulbricht, Gavin Andresen, and Elon Musk.Nakamoto is thought to have approximately 1 million Bitcoins. Based on the all-time high price of 1 million Bitcoins on March 14, 2024, it would be approximately $73.780 billion.His contribution to anonymity and decentralizationSatoshi Nakamoto always kept his identity secret. He handed over the project to the Bitcoin community in 2011 and then disappeared. Satoshi's anonymity reinforced Bitcoin's decentralized nature and allowed the community to embrace the project.Nakamoto's anonymity allowed the Bitcoin community to focus on technology rather than relying on a single leader. Consequently, the project evolved into a structure where decentralization is paramount.Satoshi's Place in Crypto CultureSatoshi Nakamoto, a legendary figure in cryptocurrency history, symbolizes Bitcoin's core values.Nakamoto began writing the system's code in 2007 and designed the first blockchain database. He continued to develop the Bitcoin software with other developers until the mid-2010s.Nakamoto's proposed system formed the cornerstone of today's cryptocurrencies and elevated Bitcoin to digital gold status. Today, Bitcoin's market capitalization is equal to billions of dollars. Many cryptocurrencies, such as Ethereum and Ripple, emerged inspired by these revolutionary ideas developed by Nakamoto. In this context, the ideas and systems developed by Nakamoto led to the redefinition not only of financial institutions but also of trust, privacy, and decentralized finance.Frequently Asked Questions (FAQ)When and why did Bitcoin emerge?: Bitcoin's history as a cryptocurrency dates back to 2008. As paper money is printed without backing, inflation rises and our purchasing power decreases. The reason for Bitcoin's emergence is actually a move against the deception and enslavement of the majority by the minority. Now, when you swipe your credit card at the grocery store, the grocery store asks the bank if they have enough money. The bank checks their records, confirms the purchase, and deducts the amount spent from your card limit. There's also a commission for this service.If everyone keeps these records simultaneously, there's no need for a bank. This is the same with Bitcoin. Everyone is a network of interconnected computers.Who founded Bitcoin?: Bitcoin was founded by an individual or group using the name or pseudonym Satoshi Nakamoto, whose true identity is unknown. How does Bitcoin work, and who controls it?: Bitcoin is a digital currency that you can send directly to another party via the internet. However, the money doesn't pass through any institution or bank. Therefore, transaction fees are much lower, it can be used in every country, your account can't be frozen, and there are no prerequisites or arbitrary limits. In some places, you can buy and sell Bitcoin for dollars, euros, and other currencies. Your Bitcoins reside in the digital wallet on your computer or mobile device. You can send Bitcoin to another party just like sending an email, and you can buy anything you want with Bitcoin. Payments are recorded on a public ledger after they are verified. The Bitcoin network is decentralized and not controlled by any individual, institution, or government. The security and operation of the network are maintained by users and miners worldwide.What was Bitcoin's initial price?: What was Bitcoin's initial price? When Bitcoin's first block was created, its value was $0. Bitcoin's first real value was determined in 2010, when a user purchased two pizzas for 10,000 BTC. At the time of this transaction, the value of 1 BTC was calculated as approximately $0.004. The price fluctuated significantly in 2011. It exceeded $1 at the beginning of the year, dropped to $0.30 in the middle, and peaked at $31 by the end of the year.What is Bitcoin's purpose, and why is it valuable?: Bitcoin's value primarily stems from being the first cryptocurrency that no single institution controls. It allows users to transfer digital money directly without central intermediaries. With its new decentralized financial system, Bitcoin protects the value of assets while also promising users financial freedom. Finally, Bitcoin's limited supply and decentralization, the fact that transactions are publicly available but user identity is always anonymous, its permanence, and the fact that all transactions occur between individuals without intermediaries. Is Bitcoin limited or infinitely minable?: The total supply of Bitcoin is capped at 21 million. This limit helps Bitcoin maintain its value and resist inflation. Follow the JR Kripto Guide series for more content on the emergence and future of Bitcoin.
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24 Sep 2025
Nasdaq-Listed Chinese Company to Buy $1 Billion in BTC, ETH, and BNB
Jiuzi Holdings Inc. (JZXN), a Nasdaq-listed China-based electric vehicle retailer, attracted attention with its announcement on Wednesday. The company announced that it will invest up to $1 billion of its cash reserves in select cryptocurrencies under its new "Crypto Asset Investment Policy," approved by its board of directors.The Chinese company focuses on three cryptocurrenciesIn the first phase of the policy, investments will be limited to Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB). The company's move is considered a strategic step aimed at long-term value preservation and hedging, rather than a speculative entry into the crypto market. Management also announced that the assets will not be held in-house but will instead be secured through professional custodians.Jiuzi's decision stems from the addition of a crypto industry veteran to the team. Doug Buerger, who recently took over as the company's chief operating officer (COO), will take a leading role in the new policy. Buerger stated, “Our goal is not to engage in short-term trading. We view crypto assets as long-term stores of value and hedges against macroeconomic uncertainties.”A “Crypto Asset Risk Committee” has also been established to implement the policy. This committee, led by CFO Huijie Gao, will oversee the progress of investments within the established framework and regularly report to the board of directors.Following the announcement, Jiuzi Holdings shares surged. JZXN shares, traded on Nasdaq, gained over 55% in pre-market trading. This investor response was driven by the company's aggressive growth strategy and its willingness to use its cash reserves more effectively. CEO Tao Li described the new policy as “a proactive step to protect and enhance long-term shareholder value.” According to Li, this initiative will not only diversify the company's financial strength but also pave the way for an innovative model that integrates traditional business practices with the crypto ecosystem. Recently, the number of US-listed companies turning to crypto investments has been increasing. The trend, initiated by MicroStrategy's Bitcoin purchases, is leading to an increasing number of companies holding crypto assets.
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24 Sep 2025
British Company Launches Bitcoin Treasury: Acquires 100 BTC
B HODL, a UK-based and recently listed Bitcoin treasury company, has announced its first major move. The company announced the purchase of 100 BTC for approximately $11.3 million. The average purchase price was $113,227 per Bitcoin. With this transaction, B HODL has entered the top 100 publicly traded Bitcoin treasury companies. According to market data, the company already ranks 98th. The top ranks are as follows: Lots of companies prefer BitcoinWhile still a beginner, the company faces significant competition. Smarter Web, another UK-based company, maintains $284 million in reserves with 2,525 BTC and is ranked 29th on the global list. Globally, Strategy, led by Michael Saylor, is solidifying its top spot. Last week, the company added 850 BTC, bringing its total reserves to 639,835 BTC. This amount has a current market capitalization of $72 billion. In a statement, B HODL stated that its strategy is based on disciplined Bitcoin purchases. The goal is not only to build long-term reserves but also to strengthen Lightning Network operations. The company aims to provide scalable liquidity and earn routing fees from Lightning payments by building high-performance Lightning nodes. This will enable both reserve growth and revenue diversification.The company's story is quite new. B HODL began trading on the London-based Aquis Exchange under the ticker symbol HODL earlier this week. Approximately $20.7 million was raised during the IPO. Aquis is a cost-effective alternative exchange for small and medium-sized growth-oriented companies.B HODL's board includes well-known industry figures. Its CEO is former lawyer and co-founder of Bitcoin Policy UK, Freddie New. A key partner of the company is the UK-based crypto exchange CoinCorner. CoinCorner CEO Danny Scott also serves as B HODL's Chief Bitcoin Officer. Its most notable shareholder is Adam Back, a symbol of the Bitcoin world. Blockstream CEO Back has acquired more than 25.5% of B HODL. He is also preparing to assume the role of CEO of Bitcoin Standard Treasury Company, which is preparing to go public in the US.Investor interest has also been reflected in the stock. HODL shares traded at $29.06 on Wednesday and have risen 34.7% since its IPO. This chart demonstrates the market's interest in the company's Bitcoin-focused strategy.This move by B HODL could intensify competition among Bitcoin treasury companies in the UK. While the company has started with a small reserve, its goal is clear: to build a growing Bitcoin treasury through disciplined acquisitions and generate additional income through the Lightning Network.
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24 Sep 2025
All Eyes on Trump and Powell After Billion-Dollar Crypto ETF Outflows
The crypto market is trading today under the shadow of critical announcements. While investors are focused on US Federal Reserve (Fed) Chair Jerome Powell's speech on the economic outlook, Bitcoin and Ether ETFs have seen billions of dollars in outflows. Statements from US President Donald Trump and Bitcoin lobbyist Dennis Porter are also increasing market tensions.Record Outflow in Bitcoin ETFsAccording to Farside Investors data, spot Bitcoin ETFs recorded a total net outflow of $363.1 million on September 23rd. This is the largest outflow in September. Fidelity's FBTC fund alone saw $276.7 million in outflows, while Ark 21Shares' ARKB withdrew $52.3 million and Grayscale's GBTC withdrew $24.6 million. VanEck's HODL fund also contributed to the outflow with $9.5 million. The drop in total assets below $150 billion is noteworthy. Ethereum ETFs also faced similar pressure. Spot Ether funds experienced $76 million in outflows, ending a two-day trend of inflows. Fidelity's FETH fund saw $33.1 million, Bitwise's ETHW, and BlackRock's ETHA products also saw significant outflows. It became clear that investors were reducing their positions in response to Powell's statements.Powell's message is criticalPowell's speech today at 6:30 PM GMT will include the new guidance markets have been waiting for following the Fed's 25 basis point rate cut at its September 2025 meeting. Powell emphasized last week that the cut was not a signal of aggressive easing but rather a "risk management" measure.Markets will now be watching to determine whether the Fed will remain cautious or open the door to further cuts. US 10-year Treasury yields are hovering around 4.15%, while the dollar index remains strong above 97. Gold, meanwhile, continues to rise amid safe-haven demand. JPMorgan CEO Jamie Dimon believes the Fed will not take any further action until inflation clearly declines.Trump and Porter Expect SurprisesThe first significant development of the day will be US President Donald Trump's speech at the UN General Assembly in New York at 4:50 PM Turkish time. Trump is expected to deliver messages about the ceasefires in the Middle East and the war in Ukraine. However, the crypto market is reportedly focusing on possible announcements regarding the US's plan to create a "Bitcoin reserve." Even a single suggestive statement from Trump on this matter could move the markets.In the final act of the day, Bitcoin lobbyist Dennis Porter will take the stage. Porter announced that he will make a "big announcement" at the X Spaces event, organized by the Satoshi Action Fund, at 2:45 AM Turkish time. There's speculation that this announcement could be related to a bill in the US that would elevate Bitcoin to strategic reserve asset status like gold, or the "CLARITY Act," which would limit the SEC's authority over Bitcoin ETFs. Porter describes this development as a "turning point" for Bitcoin in Washington.Market tensions highBitcoin is trading around $113,000 today, with a strong support line at $111,000. Ethereum is struggling to hold above $4,200. The Fear and Greed Index is at 40, in neutral territory. Opinions are divided among analysts; some interpret this decline as a signal of the end of the bull cycle, while others see the events as a classic "liquidity sell-off."
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23 Sep 2025
WisdomTree Registers 20 Crypto Funds Including XRP, Solana, and Cardano
WisdomTree has taken a significant step toward cryptoasset-based institutional products by formalizing its CoinDesk 20 Fund in Delaware. The fund will cover the top 20 cryptocurrencies ranked by market capitalization and liquidity.Delaware registration completedDelaware, known for its business-friendly laws, has long been a preferred destination for investment funds. WisdomTree's fund registration here is not only an administrative step; it is also a strategic move to boost investor confidence. This step will make the fund more attractive to potential investors and could have positive repercussions on the market. Fund inflows are particularly likely for leading cryptocurrencies such as Bitcoin, Ethereum, XRP, Solana, and Cardano. The 20 cryptocurrencies to be included in the fund are: Bitcoin, Ethereum, XRP, Solana, Cardano, Chainlink, Sui, Hedera Hashgraph, Avalanche, Stellar, Bitcoin Cash, Litecoin, Uniswap, Aptos, Near, Internet Computer, Polkadot, Aave, Polygon, and Filecoin. This list brings together the projects with the highest trading volume in the crypto market. It is expected to offer investors a diversified portfolio without having to buy individually.SEC approval remains uncertainHowever, approval from the U.S. Securities and Exchange Commission (SEC) is still uncertain. WisdomTree has filed a separate ETF application for XRP. While the preliminary approval process was completed in February, the final decision has been postponed until October 25, 2025. This indicates that the U.S. crypto ETF market is still being shaped by regulations.The SEC's recently implemented "generic listing standards" could accelerate the process. These new standards allow for the direct listing of funds or stocks within 75 days. However, the application for the CoinDesk 20 Fund is not an ETF filing. It should be considered more of a legal and administrative groundwork. The actual ETF will require an S-1 filing with the SEC and direct approval.Possible Market ImpactWisdomTree's move is particularly noteworthy for institutional investors. The fund's launch could make cryptocurrencies accessible to a broader investor base. Furthermore, increased demand for the top 20 cryptocurrencies by market capitalization could trigger a price recovery. This impact may be limited in the short term, but it is likely to strengthen the position of crypto assets in the financial system in the long run.
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23 Sep 2025
$1.9 Billion Flows into Crypto Funds: BTC, ETH, SOL, XRP, SUI Lead
Crypto asset investment products saw strong inflows for the second week following the US Federal Reserve's interest rate cut decision. According to CoinShares data, a total of $1.9 billion in investment products entered the market last week. This brings total inflows since the beginning of the year to $40.4 billion, and assets under management (AuM) reached a year-to-date high of $241 billion.Bitcoin once again took the lead. The leading cryptocurrency, which saw $977 million in inflows last week, is clearly ahead with $24.7 billion in inflows since the beginning of the year. Ethereum, on the other hand, saw a notable weekly inflow of $772 million. This brings the total inflows in ETH products to a record high, exceeding $12.6 billion since the beginning of the year. Ethereum's assets under management also reached an all-time high of $40.3 billion.What is the current state of investment flow in altcoins?The altcoin market was also quite active. Solana closed the week with $127.3 million in inflows, reaching a monthly total of $340 million. XRP saw strong demand with $69.4 million inflows; since the beginning of the year, the inflow into this product has reached $1.5 billion. Although smaller, Sui saw $2.1 million, Cardano $1.1 million, and Chainlink $1.9 million. Litecoin saw $0.5 million inflows, while Cronos saw a limited $0.6 million increase. In contrast, $38 million in outflows from multi-asset products were noteworthy, suggesting investors are turning to single coins in this area. Latest Regional and Provider Data TableThe US leads the way in regional data. Last week, the US accounted for almost all of the total volume, with $1.8 billion in inflows. Germany recorded $51.6 million, Switzerland $47.3 million, and Canada $21 million. Brazil saw $9.3 million, and Australia $7.8 million. Hong Kong saw $3.1 million in outflows. Sweden and Switzerland also saw notable monthly outflows, with Sweden recording a total of $32.7 million in outflows since the beginning of September.By provider, the largest inflow was to iShares ETFs, at $1.4 billion. Fidelity received $35 million, ProShares $39 million, ARK $32 million, and 21Shares $27 million. Grayscale and CoinShares XBT Provider products saw outflows of $60 million and $16 million, respectively. Grayscale's $1.6 billion outflow since the beginning of the year is particularly noteworthy.Overall, the interest in crypto investment products represents a cautious yet positive response to the Fed's interest rate cut decision. Strong inflows in Bitcoin and Ethereum, in particular, confirm institutional investors' confidence in the market's long-term potential. Whether this trend continues in the coming weeks will depend on macroeconomic data and the Fed's next steps.
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22 Sep 2025
Japan Firm Breaks into Top Five with Aggressive Bitcoin Purchase
Metaplanet, a Japan-based Bitcoin treasury, kicked off the week with a major acquisition. The company announced the purchase of 5,419 Bitcoins. This investment, worth approximately $632.5 million, was the company's largest single-use BTC purchase to date. The transaction was completed at an average price of $116,724.Metaplanet CEO Simon Gerovich stated in a statement on X on Monday, "As of September 22, 2025, we held a total of 25,555 BTC. We acquired these assets at an average price of $106,065, for a total of $2.71 billion." With this latest move, the company surpassed Bullish to become the fifth-largest Bitcoin holder among publicly traded companies. Strategy, managed by Michael Saylor, maintains its leadership with 638,985 BTC. Its ranking among Bitcoin treasury companies is as follows: Metaplanet's Bitcoin-focused strategy is becoming increasingly aggressive. Having held only 4,525 BTC until mid-year, the company quickly expanded its portfolio, becoming one of the largest institutional buyers. Having reached its target of 10,000 BTC in June, Metaplanet has set new targets, exceeding its 21,000 BTC plan announced for 2026. Under its "555 Million Plan," it aims to raise $5.4 billion to acquire 210,000 BTC by 2027.To finance this growth plan, the company raised $1.4 billion by issuing 385 million new shares earlier this month. The funds were directed directly to Bitcoin purchases. Last week, the establishment of a new subsidiary, Metaplanet Income Corp., in the US was approved. This new structure will focus on Bitcoin derivatives and income-generating products.Metaplanet shares are decliningOn the market front, however, the picture was different. Metaplanet shares have been volatile over the past day. Opening the week at around $4.30, the stock closed around $3.90. This represents a decline of approximately 3% in single-day performance. The volatility in the Bitcoin price and the company's new acquisitions, in particular, created significant intraday activity.The weekly outlook is somewhat more moderate. While the share price fluctuated within a narrow range over the past week, it saw a roughly 1% increase compared to the beginning of the week. This rise suggests that the company's aggressive Bitcoin strategy is maintaining investor interest in the short term.A more steep decline is evident in the monthly performance. Metaplanet shares have lost approximately 27% of their value over the past month. This decline is due to the dilution effect created by the company's capital increase by issuing 385 million new shares and a shift in investor risk perception. The correction in the Bitcoin price also added to this pressure.The Bitcoin price also fluctuated on the same day. BTC, which has fallen more than 1 percent in the last 24 hours, traded at $112,949. According to experts, Metaplanet's aggressive strategy, which has earned it the nickname "Asia's Strategy," is also increasing the influence of corporate treasuries on Bitcoin.
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22 Sep 2025
Fed Cut Not Enough: Bitcoin and Altcoins Painted Red
The new week started with volatility in the cryptocurrency market. Bitcoin and leading altcoins, which gained upward momentum following the recent 25 basis point interest rate cut by the US Federal Reserve (Fed), came under renewed selling pressure after the weekend. So, what was behind this decline? Here are the triggers of the decline and the latest market conditions.Bitcoin and altcoins are experiencing a sharp declineAs of Monday morning, Bitcoin had fallen nearly 3 percent to the $112,700 range. Ethereum, on the other hand, experienced an even steeper decline, losing more than 5 percent to $4,190. Solana fell 5.3 percent to trade around $222, while XRP fell 5 percent to $2.8. The acceleration of selling was notable with the opening of European markets on the first trading day of the week. Within minutes, Bitcoin had fallen more than 2 percent to $111,900; Losses reached 5% and 7%, respectively, in Ethereum and Solana. Fed's interest rate decision impactsAnalysts note that this rapid pullback isn't tied to a clear trigger, but rather can be explained by short-term selling and breaks in technical levels. BTSE COO Jeff Mei said, "The market retreated slightly over the weekend because investors are being cautious in the uncertain macroeconomic environment. The Fed stated that it will evaluate interest rate decisions on a meeting-by-meeting basis, meaning it won't initiate an aggressive rate cut."Fed Chair Jerome Powell also described the rate cut as a "risk management" step in his press conference, emphasizing that there was no need for rapid action. These statements limited investors' expectations and created a cautious atmosphere in the crypto market.In terms of market capitalization, the total capitalization of crypto assets has fallen below $4 trillion. Major altcoins like Ethereum and Solana led the way, while Dogecoin experienced one of the sharpest declines, falling 7.8%. Cardano fell 5.7 percent, and Chainlink fell 6 percent. Meanwhile, Avalanche saw a positive outperformance with a 4 percent gain.Investors cautiousAccording to BTC Markets analyst Rachael Lucas, the crypto market's "fireworks" of the first half of the year have faded. Lucas said, "Investors are cautious; long-term holders aren't panicking, but short-term investors are uneasy. On-chain data suggests that large investors aren't selling. This suggests the market is more 'uneasy optimism' than fear." Lucas also noted that a break above $124,000 for Bitcoin could trigger a new upward wave, while the current price action suggests more consolidation.Among the critical developments for the markets in the coming days is the PCE data, the Fed's preferred inflation indicator. It's being argued that if there are signs of easing inflation, the crypto market could rebound. Meanwhile, regulatory approvals for new spot Bitcoin ETFs from various regions or increased institutional demand are also among the potential factors that could revive price momentum.Consequently, the crypto market exhibited a volatile outlook in September, consistent with historical trends. While investors appear to be acting more cautiously considering short-term uncertainties, there is currently no panic affecting the long-term outlook. However, during this period of renewed volatility, the market's fragile nature necessitates strong catalysts.
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22 Sep 2025
Trillions of Dollars in Options Expiration Near: Volatility Alert in Crypto
The Bitcoin price reached $117,600, reaching a one-month high. However, this surge is driven by a critical development that could shake the markets. The $4.9 trillion in options expiring today on Wall Street poses a significant volatility risk for both the stock markets and the cryptocurrency ecosystem.Analyst Ted Pillows commented on social media, "Today's $4.9 trillion options expiration is even larger than the total value of the current cryptocurrency market. Such a load could cause sharp market volatility." The current crypto market size is approximately $4 trillion.The "Triple Witching" EffectWall Street's quarterly "triple witching" periods are known for the simultaneous expiration of options and futures. This process, seen in March, June, September, and December, can increase trading volumes and lead to sharp price movements. Ted noted that a similar situation occurred in March and June 2025. Following the March expiration, markets experienced a sharp pullback within two to three weeks, while the June expiration paved the way for Bitcoin to fall below $100,000.Huge Figures in Crypto OptionsThe crypto market is also striking. According to market data, $3.5 billion worth of Bitcoin and $806 million worth of Ethereum options expire today. For Bitcoin, the put/call ratio is 1.23, with a maximum pain point of $114,000. For Ethereum, the ratio is 0.99, with a maximum pain point of $4,500. These levels are generally known for their "magnet" effect, attracting prices. Therefore, it would not be surprising to see sharp fluctuations in the coming hours. Leverage Overload Creates RiskAccording to experts, the biggest risk is the reaccumulation of high leverage levels in the markets. Ted commented, “Leveraged positions are liquidated sooner or later. This paves the way for short-term declines, followed by a new rally.” In March, Bitcoin rose 33% before retreating. In June, this figure remained at 20%, and the decline was much more rapid. In September, Bitcoin was trading around $117,000, and investors are worried that a similar scenario could reoccur. Analysts note that the Fed's latest interest rate cut and any further rate cuts that may occur before the end of the year could also impact the outlook. If history repeats itself, these sharp fluctuations could pave the way for new records for Bitcoin. However, it's clear that investors face high risks in the short term.As a result, both the massive $4.9 trillion expiration date on Wall Street and the critical $4.3 billion threshold in crypto options markets could create a stormy market effect.
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19 Sep 2025
What Time Will the Fed's Rate Decision Be Announced? Here Are the Expectations and Latest on Bitcoin
The US Federal Reserve takes the stage today; the decision will be announced at 9:00 PM Turkish time. Markets are almost certain that Jerome Powell will announce the first interest rate cut of the year. Interest rates, which have been held steady since December 2024, could now be met with a downward move due to weakening employment data and increasing political pressure.The expectation is clear. Futures pricing assigns a 25 basis point cut a probability of over 90%, with a 50 basis point surprise being discussed in rare scenarios. Such a move would soften the narrative of dollar liquidity and support flows into assets like gold and Bitcoin. The reverse is also possible; if the Fed passes, the initial reaction could be a sharp sell-off, followed by the possibility of a larger emergency cut.The crypto market appears calm but alert ahead of the decision. The Bitcoin price is consolidating between $114,600 and $117,100 during the day, trading near the upper limit. On the on-chain side, the short-term investor cost remains above the reference bands, favoring sentiment. This chart indicates a squeeze that could react sharply to the news flow. According to experts, the critical threshold is $118,000–118,500. A break above this area with volume could strengthen momentum toward $120,000, opening the door to an all-time high from there. In short, the direction will depend on how 118,000 is tested.Gold is also in the picture. The price per ounce is just below $3,700, close to records. While profit-taking is evident in mining stocks, the resistance on the spot side aligns with the narrative of a rate cut. Depending on the Fed's tone, traffic across the two bridges could increase or briefly reverse.Let's clarify the scenarios: If the expected 25 basis points come in and guidance isn't neutral-hawkish, Bitcoin's gradual upward trend will be maintained, with occasional leverage-related wicks. A 50 basis point surprise could trigger an "initial euphoria, followed by news selling" pattern; if growth concerns prevail, some of the gains will be returned. If the price is passed as expected, crypto and gold will be hit first, followed by a recovery driven by the expectation of a larger price cut.It's worth remembering: A similar setup worked in September 2024. Initially, there was a shakeup, then an accelerating trend. Of course, past performance isn't guaranteed; what matters today is Powell's statements at the press conference around 9:30 PM, along with the 9:00 PM decision. Key phrases like "inflation progress," "labor market balancing," and "data dependence for further price cuts" could influence pricing for how many price cuts we'll see throughout the rest of the year.What are investors waiting for?Probabilities are clustered around three price cut paths in the CME FedWatch and crypto prediction markets. In summary, the 9:00 PM (UTC) anchor is critical. A 25 basis point and a softer tone could open the door for Bitcoin to push the 118,000 threshold; a clean breakout could bring 120,000 and the top zone into focus. In the event of a hawkish surprise or a lapse, the 116,800–114,500 and 113,300–110,000 corridors could serve as defensive lines.
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17 Sep 2025
Bitcoin Whale Awakes After 11 Years and Moves 1,000 BTC
The cryptocurrency market experienced rare activity. A Bitcoin whale, which hadn't made any transactions since 2014, transferred 1,000 BTC of its holdings to new addresses. According to on-chain data, this move represents a single transfer of approximately $116.6 million worth of cryptocurrency.Bitcoin whale strikesAccording to a report by on-chain analysis platform Lookonchain, based on Arkham data, the "1NzH...DrtpZo" wallet had been dormant for over 11 years. The address in question purchased 1,000 BTC in January 2014 at a price of approximately $847 per Bitcoin. At the time, the total value was around $847,000, and today, this amount has grown by over 100 times, reaching hundreds of millions of dollars. The whale transferred all of its holdings to four new addresses. However, Arkham did not disclose any information about the owners of these addresses. Whether the transfer was made to exchanges or personal cold wallets remains unclear.The Bitcoin price, however, continued its upward trend during this volatility. According to market data, BTC rose 1.3 percent in the last 24 hours to $116,637. The weekly gain reached 4.8 percent.Whales breaking their long silences is particularly striking during bullish periods. Last week, a wallet that had been inactive for years sent 132 of its 445 BTC to another address and 5 to the Kraken exchange. It was also reported that this wallet hadn't made any transactions for almost 13 years.A more significant example occurred in July. A Satoshi-era whale sold approximately 80,000 BTC (worth over $9 billion at the time) through Galaxy Digital. This sale was recorded as part of the investor's inheritance planning.What does the activation of old addresses mean? Such movements in the crypto market significantly impact investor psychology and price expectations. Some analysts interpret the trading activity of wallets that have been inactive for a long time as a sign of a new wave of market volatility. However, as long as it remains unclear whether the transferred BTC is being sold or moved for safekeeping, sustained price pressure may not be felt.The increased activity of early Bitcoin wallets, known as "OGs," over the past year is noteworthy. This situation both serves as a reminder of the cryptocurrency's current state and suggests a potential shift in strategies for long-term investors.During this period of increasing whale activity, market observers continue to closely monitor on-chain data. As has been seen repeatedly in the past, the actions of major players can be a significant signal in determining market direction.
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17 Sep 2025
Critical Meeting in Washington: US Pursues $115 Billion Bitcoin Reserve
A potentially historic development is underway for the US cryptocurrency markets. The bill, introduced by Senator Cynthia Lummis and known as the "BITCOIN Act," proposes that the country acquire a total of 1 million Bitcoins over the next five years. These purchases, representing over $115 billion at current prices, are planned to be carried out in a budget-neutral manner without imposing an additional burden on taxpayers.The critical meeting in Washington will be one of the most concrete steps in this major initiative. Members of the legislature will meet with 18 leading figures in the crypto industry. Participants include MicroStrategy founder Michael Saylor, Fundstrat CEO Tom Lee, Marathon Digital (MARA) CEO Fred Thiel, and CleanSpark executives. Andrew McCormick, the US manager of Bitdeer, Off the Chain Capital, Reserve One, Western Alliance Bank, and eToro, will also be in attendance. The focus of the meeting is the creation of a Bitcoin reserve in a budget-neutral manner. Various financing methods are being considered for this purpose. Ideas such as revaluing Treasury gold certificates and using revenues from tariffs will be discussed. This will allow the US to build a strategic Bitcoin reserve while avoiding increasing its budget deficit.Michael Saylor, one of the bill's strongest supporters, reiterated his long-held views. According to Saylor, Bitcoin is the world's most powerful store of value, and this US step will position Bitcoin as a strategic reserve asset like gold. President Donald Trump also announced his support for the bill through an executive order, emphasizing the use of "creative financing methods."The BITCOIN Act is considered one of the boldest steps taken in US cryptocurrency policy to date. The GENIUS Act, passed in July, introduced regulations for stablecoins; now, it appears Bitcoin is next. If passed, the US will not only strengthen its financial security but also become the first major economy to elevate Bitcoin to the status of a national strategic reserve.The bill has its criticsHowever, not everyone welcomes this initiative. JAN3 founder Samson Mow describes it as "ironic" that the US hasn't established a Bitcoin reserve to date. He argues that while many countries have followed the US's example in developing reserve plans, Washington has lagged far behind.Despite all the criticism, interest in the bill is growing. If industry representatives can prove that the costs can be met without burdening the public, the US could mark a milestone in crypto history. The decisions the US Congress makes in the coming period will determine the direction not only of the country but also of global crypto markets. A US reserve of 1 million Bitcoin could fundamentally alter the supply-demand balance and lead to historic price fluctuations.
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16 Sep 2025
Markets Hold Their Breath Ahead of Fed Decision: All Eyes on Powell for Bitcoin
The US Federal Reserve (Fed) is preparing for one of the most critical meetings of 2025. The interest rate decision, to be announced tomorrow, September 17th, is thought to open the door to the first interest rate cut of the year. According to CME FedWatch Tool data, markets have priced in a 96% probability of a 25 basis point cut. This suggests that the decision is largely anticipated, and markets are positioning accordingly. The Fed's September meeting will take place on September 16th and 17th. The critical interest rate decision will be announced on Tuesday, September 17th at 9:00 PM Turkish time. Markets are already fixated on this time; the press conference to be held by Jerome Powell following the decision will be the most important development that will shed light on the rest of the year.However, the most decisive factor will be the press conference held by Fed Chair Jerome Powell after the meeting. Powell's messages will provide clues about how monetary policy will be shaped for the rest of the year. Some economists argue that the Fed should act more aggressively and cut interest rates by 50 basis points. However, most analysts view this possibility as unlikely. Regardless of the outcome, one person is certain to be unhappy with this process: US President Donald Trump. Trump has long referred to Powell as "Too Late Jerome," criticized his slow pace on interest rate cuts, and even demanded his resignation. Citing the European Central Bank and the Bank of England's multiple rate cuts throughout the year, Trump accuses the Fed of delays.Optimism dominates Bitcoin and other marketsThe general market sentiment is optimistic for now. The S&P 500 index opened the week at record highs. This rise was driven not only by interest rate expectations but also by Elon Musk's $1 billion purchase of Tesla shares. On the crypto side, Bitcoin has rebounded after weeks of sideways movement. If the largest cryptocurrency can surpass its 30-day high of $118,595, an attempt to break above the historic record of $124,457 could be on the horizon. The psychological barrier of $5,000 also appears critical for Ethereum.However, experts also highlight the risks. The S&P 500 index has gained a remarkable 72 percent since the beginning of 2023. Some believe this momentum, fueled by investments in artificial intelligence, has overheated. The crypto market has seen a much sharper rise. Bitcoin has gained 600 percent in the last two and a half years, Ethereum 275 percent, and XRP 780 percent. Therefore, the possibility of a potential correction remains.Steve Sosnick, chief strategist at Interactive Brokers, stated that the Fed could signal a "hawkish interest rate cut" this week when announcing its decision. He noted that markets have largely priced in the reduction, but that future expectations could be tempered. According to him, even if the Fed implements the cut, it may want to dampen excessive optimism about the future. He noted that inflation remains uncontrolled, and that core CPI and PCE are rising again.New Development at FedA new development has occurred that will impact decision-making at the Fed. The Senate has approved Stephen Miran as the replacement for Adriana Kugler, who left office in August. Miran, who won a narrow 48-47 vote, will remain on the board until January 2026. It is known that Miran believes interest rate cuts are overdue, so this will strengthen his support for a reduction in decisions to be made this week. There are even speculations in the US press that Miran may eventually become a candidate to replace Powell as Fed chair.In short, the key factor in market direction will not only be the magnitude of the rate cut, but also the signals Powell delivers at his press conference. On the one hand, there is pressure from Trump and the election atmosphere, and on the other, overheated stock markets due to inflation concerns. The crypto market, once again, stands out as a "risky asset" in this equation. Investors will be keeping an eye on announcements from Washington this week.
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16 Sep 2025
PayPal Introduces Crypto-Backed "Links" Feature: BTC, ETH, PYUSD Available
Digital payments giant PayPal has taken a new step in expanding its support for cryptocurrencies. The company has introduced a new peer-to-peer (P2P) payment feature called "PayPal Links." Users can now request payments through personalized one-time links, using Bitcoin (BTC), Ethereum (ETH), and the company's own stablecoin, PYUSD. The feature is rolling out first in the US and is planned to expand to the UK, Italy, and other countries by the end of the year. PayPal Links is an improved version of the existing PayPal Me system. Previously, the requester had to manually enter the amount. In the new system, users can specify the payment amount before sharing the link and personalize their requests by adding notes or emojis. Upon acceptance, the funds are instantly credited to the account. Unused links automatically revoke within 10 days, and a reminder option is also available.One of the most important aspects of this innovation for crypto users is that personal transfers made through PayPal and Venmo are exempt from tax reporting in the US. Gifts, expense sharing, or debt-credit transfers between friends will not be subject to a 1099-K form. This could make crypto transfers easier to use in daily life.Another notable development announced by PayPal is that this move is part of the company's global payment infrastructure, which it calls "PayPal World." PayPal World is an initiative that aims to connect billions of digital wallets. This will allow crypto transfers not only to PayPal and Venmo wallets but also to compatible external wallets. This step is considered to be closer to the peer-to-peer payment vision defined in Bitcoin's white paper.According to the company's statement, PayPal's P2P and consumer payments grew by 10 percent year-over-year in the second quarter of 2025. Venmo, on the other hand, reached its highest total payment volume in three years. This momentum, combined with PayPal's crypto-enabled solutions, is expected to increase the company's influence in the global digital payments market. PayPal entered the crypto space in 2020PayPal entered the market by launching crypto trading in 2020 and launched the PYUSD stablecoin in partnership with Paxos in 2023. PYUSD, currently the 11th largest stablecoin with a market capitalization of approximately $1.3 billion, is also the backbone of the "Pay with Crypto" feature. This feature allows small businesses to accept payments in dozens of cryptocurrencies. PayPal has also begun supporting popular tokens like Chainlink (LINK) and Solana (SOL).According to experts, PayPal's move is a significant step toward transforming crypto from a mere buy-sell or investment tool into a usable tool for everyday payments. The World Bank has stated that stablecoins offer a cost advantage of up to 90% in cross-border remittances. In contrast, institutions like the Bank for International Settlements (BIS) still consider stablecoins to be "assets" rather than "money." PayPal shares (PYPL) are currently trading at $67.11, giving the company a market capitalization of $65 billion. With new P2P features and crypto support, PayPal is expected to further increase its presence in the digital payments ecosystem.
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16 Sep 2025