🇧🇷 LATEST: At Meridian by @StellarOrg, Brazil Crypto Report founder @AaronWStanley breaks down how Brazil is leading the way in crypto ETFs:👍 Approved its first ETF in 2021👍 Now has at least 15 trading👍 Home to the first SOL + XRP ETFs https://t.co/0k3UE8m7qt ...

Market Trends & Cryptocurrency Performance - Crypto majors mostly rallied post-FOMC [1] - Bitcoin increased by 1% to $117,300 [1] - Ethereum increased by 2% to $4,580 [1] - XRP increased by 3% to $3.11 [1] - Solana jumped 5% to $247 [1] - BNB crossed $1,000 for the first time [1] - Memecoin leaders are mostly green post-FOMC [2] ETF & Regulatory News - Bitcoin ETFs saw $51 million in net outflows [1] - SEC approved a generic listing standard which will greatly accelerate the approval process for crypto ETFs [1] - NYDFS told banks to adopt blockchain analytics for AML/sanctions controls [1] Partnerships & Integrations - Moneygram is embracing stablecoins in partnership with Crossmint [1] - Kraken and Circle are partnering to expand stablecoin access with USDC & EURC integration [1] Token & Protocol Developments - ASTER soared to $0.47 and a $750 million market cap ($3.75 billion FDV) [2] - Project X announced its Phase 2 allowing any coin from any chain to be trading directly on their platform with 0 aggregator fees [2] - Token Works and PNKSTR announced perpetual machine rollouts for 5 new NFT collections [1][2] - Bio Protocol raised $6.9 million in seed funding [3] NFT Market - ETH NFT leaders were mostly green after the TokenWorks news [3] - Punks floor price decreased by 1% to 48.3 ETH, Pudgy increased by 2% to 10.5 ETH, BAYC increased by 2% to 9.3 ETH [3]

Crypto ETFs are about to be approved en masse.Mania is coming. https://t.co/2BWyFR4kBlAndy (@ayyyeandy):Rumor mill says there will be at least 10 crypto asset ETFs passed sometime in early November.Final stages of their reviewal right now into end of October. Expect major news on this to hit the wire from the SEC. ...

Core Viewpoint - Grayscale has achieved a significant milestone with the SEC's approval of the Grayscale Digital Large Cap Fund (GDLC), which will soon be listed on the NYSE, potentially attracting institutional interest in cryptocurrency investments [1][2]. Group 1: Fund Details - The GDLC fund will include the top five digital assets by market capitalization: Bitcoin, Ethereum, XRP, Solana, and Cardano [1][2]. - Bitcoin constitutes over 72% of the fund's portfolio, followed by Ethereum at over 17%, with XRP, Solana, and Cardano making up 5.62%, 4.03%, and 1% respectively [2]. Group 2: Market Impact - The launch of the GDLC fund on Wall Street is expected to generate strong institutional interest in cryptocurrency [2]. - The approval of the GDLC fund may facilitate the introduction of multi-asset crypto ETFs from other asset managers, as noted by ETF specialist Nate Geraci [3]. Group 3: Regulatory Context - Earlier in July, the SEC had postponed its decision on Grayscale's proposal to convert the GDLC into an exchange-listed ETP, citing the need for further review [4]. - With the introduction of Generic Listing Standards, the process for launching additional crypto ETPs is anticipated to be more efficient [4]. Group 4: Future Initiatives - Grayscale is actively pursuing the establishment of various crypto ETFs, including a recent application to convert its Chainlink Trust into an exchange-traded fund [5].

SEC Clears Path for ‘Waves’ of Crypto ETFs With New Listing Standards► https://t.co/rzsaK0aaY7 https://t.co/rzsaK0aaY7 ...

BREAKING NEWS: SEC has approved generic listings standards, clearing the way for spot crypto ETFs to launch 🔥We are living through crypto history. https://t.co/2LSwIs1oTt ...

Group 1 - A significant number of crypto ETF applications have been submitted to the SEC, including five new filings that cover a range of assets from Avalanche infrastructure to Bonk meme coin [1][2] - The total number of pending crypto ETF applications has exceeded 92, with many facing deadlines in October and November [2] - REX-Osprey's XRP and Dogecoin ETFs are set to launch using the 40 Act structure, which allows for faster market entry [3] Group 2 - Bitcoin ETFs have seen net inflows of $292 million, while Ethereum products experienced outflows of $61.74 million as of September 16 [3] - Analysts believe that infrastructure tokens like Avalanche have the highest chances of SEC approval due to their established market cap and regulatory comfort [5][7] - Memecoins and basis trading products are expected to face more scrutiny from regulators due to concerns over their volatility and liquidity profiles [4][6] Group 3 - The basis trade approach is considered the "first of its kind" and is likely to encounter additional regulatory scrutiny due to its complexity [6] - Bitwise is pursuing institutional-grade exposure to Avalanche, joining other firms like VanEck and Grayscale [5] - The SEC clarified in February that memecoins are not classified as securities, but analysts still view infrastructure coins as more favorable for approval [7]

ETF Market Dynamics - Crypto ETFs, particularly Bitcoin spot ETFs, have demonstrated significant success and act as major price drivers and catalysts in the crypto market [1] - Ethereum ETFs experienced substantial inflows corresponding with price increases, highlighting the impact of ETFs on asset valuation [2] - The SEC's proposed generic listing standards could expedite crypto ETF approvals, potentially reducing the timeline from 240 days to 60-75 days, thus opening doors for altcoin funds [10] - The approval of generic listing standards for traditional ETFs in 2019 led to a surge in ETF launches, increasing from 117 per year to 370 per year, suggesting a similar expansion could occur in the crypto space [15] XRP ETF Potential - XRP is considered a strong contender for the first altcoin spot ETF, owing to its resilience and strong community support, despite past challenges [5][6][12] - There are 12 issuers with 18 different ETF products tied back to XRP, indicating significant industry interest [17] - Rex Shares from Osprey Funds is set to launch the Rex Osprey XRP ETF, potentially the first US ETF offering spot exposure to XRP, with $8 billion in assets under management [18] - An AI analysis suggests a potential debut surge inflow of $150 million to $20 billion for an XRP ETF, depending on market sentiment [23] - Industry experts estimate that an XRP ETF could attract $5 billion in its first month and potentially outperform Ethereum ETFs [24][25] - Crypto com CEO forecasts XRP ETFs attracting $8 billion of investor inflows in 2026 [29]

Group 1 - Traditional investors in the United States will gain exposure to Ripple-linked asset XRP and Dogecoin (DOGE) through new exchange traded products from Rex Shares and Osprey Funds, expected to list on Thursday [1] - The funds are registered under the Investment Company Act of 1940, allowing them to operate alongside other crypto ETFs registered under the Securities Act of 1933 [1][2] - The REX-Osprey XRP Portfolio will provide exposure to spot XRP through a Cayman Islands subsidiary and may also invest in derivatives tied to XRP [2] Group 2 - The Dogecoin-focused ETF, DOJE, will follow a similar structure to the XRP ETF, investing via the Cayman Islands subsidiary rather than directly holding the underlying asset [3] - Rex-Osprey previously launched a Solana staking ETF under the same Investment Company Act, marking a first in that category [4] - Over 90 other ETF applications featuring assets like XRP and Solana are pending SEC approval, with analysts suggesting that approvals for Dogecoin, Solana, and XRP ETFs are likely [5]

Core Insights - REX-Osprey's Dogecoin ETF (DOJE) and XRP ETF (XRPR) are set to commence trading on September 18, 2023, expanding the crypto ETF landscape beyond Bitcoin and Ethereum [1][12][14] - The REX-Osprey ETFs utilize a registered investment company (RIC) structure, which provides operational flexibility while adhering to regulatory requirements [4][5][6] - The SEC has approved five REX-Osprey ETFs, with over 90 additional crypto ETF filings awaiting decisions, indicating a growing interest in altcoin exposure [12][13] ETF Launch Details - DOJE and XRPR are confirmed to start trading on September 18, 2023, with the Dogecoin ETF experiencing delays from its original debut date of September 12 [2][12] - The REX-Osprey ETFs are distinct from traditional spot crypto ETFs, as they operate under a RIC framework rather than corporate tax structures [4][10] Regulatory Framework - The RIC structure allows the funds to hold spot crypto assets while maintaining the ability to use derivatives, providing a balance between exposure and flexibility [6][10] - This structure results in different tax treatments and operational requirements compared to C-corporations, affecting investor return distribution [10] Market Context - The SEC's approval of REX-Osprey ETFs comes amid a broader context where over 90 crypto ETF applications are pending, with potential approvals expected in October [12][13] - Despite regulatory approvals, the SEC may delay launches to finalize a framework for fast-tracking crypto ETF approvals [13]