Daily News 🗞 | Sep 18• Fed Chair Powell says FOMC is divided on additional rate cuts in 2025• Ethereum unveils roadmap focusing on scaling, interoperability, and security• Forward Industries eyes up to $4B share sale to back Solana push• CME Group to launch options on Solana, XRP futures in October• SEC approves generic listing standards for faster crypto ETF approvals#CryptoNews #PoloniexNEWS ...

Crypto ETF floodgates about to openEleanor Terrett (@EleanorTerrett):🚨JUST IN: The @SECGov has approved a generic listing standard for commodity-based trust shares on the Nasdaq, CBOE and NYSE, a move that will streamline the approval process for crypto exchange-traded products.Experts say the new standard will let products come to market https://t.co/Bm7JNjA9KP ...

Group 1 - XRP is gaining attention from traditional finance as new products are introduced in the securities and derivatives markets, providing more access points for exposure to the token [1] - On September 18, REX Shares and Osprey Funds will launch the first U.S.-listed ETFs linked to XRP and Dogecoin on the Cboe BZX Exchange, under the tickers XRPR and DOJE [2] - The newly launched funds are not "pure" spot products; they hold XRP and DOGE directly while also investing in other spot ETFs from outside the U.S. to gain exposure [3] Group 2 - The structure of these ETFs reflects the challenges of creating regulated crypto ETFs in the U.S., where sponsors often include indirect exposure [4] - CME Group plans to expand its crypto derivatives offerings by listing options on XRP and Solana futures, pending regulatory review, targeted for October 13 [4] - The options will be available on both standard and micro contracts, catering to institutions and active traders, with various expiry choices [5] Group 3 - Since March, Solana futures have seen over 540,000 contracts traded, amounting to approximately $22.3 billion notional, while XRP futures have recorded over 370,000 contracts, roughly $16.2 billion notional [6] - Market participants have expressed the need for hedging tools beyond Bitcoin and Ether, welcoming the introduction of XRP and Solana options [6] - CME Group operates the largest regulated derivatives marketplace globally, allowing participants to hedge positions with central clearing and margining [7]

Core Insights - The Investment Company Act of 1940 ('40 Act') provides a faster pathway for firms to launch spot crypto ETFs, as demonstrated by REX-Osprey's rapid approval of its spot Ripple (XRP) fund [2][3][7] Group 1: Regulatory Framework - The '40 Act was established to minimize self-dealing, fraud, and mismanagement in financial firms, particularly after the 1929 Stock Market Crash and the Great Depression [1] - REX-Osprey's XRP ETF must maintain a diversified portfolio, requiring 80% XRP along with cash, treasuries, and derivatives, which deviates from a "pure" spot ETF structure [4][7] - Firms under the '40 Act must register with the SEC, outline their objectives, and adhere to strict reporting standards to ensure investor protection [3][4] Group 2: Approval Process - The typical review process for spot crypto ETFs under the Securities Act of 1933 can take up to 240 days, while the '40 Act allows for a reduced review period of 75 days for applications with similar precedents [5][7] - The SEC has the authority to exempt certain rules under the '40 Act if alternative safeguards are in place, as seen with REX-Osprey's use of a Cayman Islands subsidiary for XRP holdings [6][8] - REX-Osprey's XRP ETF launch was initially set for September 12 but was delayed to September 18, indicating some regulatory scrutiny despite the expedited process [8]

Bloomberg ETF analysts Eric Balchunas and James Seyffart expect REX-Osprey’s XRP and Doge ETFs to launch Thursday, marking the first U.S. spot exposure to these cryptocurrencies through regulated investment vehicles. The XRP ETF will trade under ticker $XRPR while the Dogecoin fund uses symbol $DOJE, both utilizing the faster 40 Act structure that bypasses traditional SEC approval delays. REX-Osprey confirmed the XRP ETF launch through social media, positioning $XRPR as the first U.S. fund delivering spo ...

Core Insights - The first exchange-traded fund (ETF) focused on a meme coin, the Rex Shares-Osprey Dogecoin ETF (DOJE), is expected to launch soon after delays [1][2] - DOGE has performed well recently, showing a 15% increase over the past month despite a 3.5% decline in the last 24 hours [2] - DOJE will not hold DOGE directly but will use a Cayman Islands-based subsidiary to gain exposure through futures and derivatives [3] ETF Structure and Approval - DOJE was approved under the Investment Company Act of 1940, distinguishing it from bitcoin ETFs approved under the Securities Act of 1933 [4] - This structure aligns DOJE more closely with mutual funds rather than commodity trusts [4] Future Developments - There are ongoing applications for spot DOGE ETFs that would hold the meme coin directly, currently under review by the U.S. Securities and Exchange Commission (SEC) [5] - The SEC has shown increased comfort with crypto ETFs following the approval of several bitcoin products in early 2024 [5] Market Context - The broader crypto market indicates that investor demand can surpass fundamental critiques, as meme coins continue to attract significant speculative capital despite skepticism regarding their underlying value [6]

Group 1: Crypto Sector Overview - The crypto sector is gaining momentum, with the Trump administration prioritizing the U.S. as the crypto capital of the world, including plans for a strategic U.S. Bitcoin reserve and facilitating crypto investments in retirement portfolios [1] Group 2: XRP Overview - XRP is the third-largest cryptocurrency by market cap and is positioned as a potential disruptor in international payments, aiming to enhance the efficiency of money transfers for financial institutions and individuals [2][3] - XRP's network can process 1,500 transactions per second, designed specifically for its intended purpose despite other networks having higher transaction capabilities [4] Group 3: Ripple's Strategy - Ripple is bridging the gap between crypto and mainstream finance by providing instant payments, stablecoins, and custody solutions, already serving numerous traditional bank clients [5] - Ripple's CEO, Brad Garlinghouse, believes XRP can capture volume from SWIFT by offering real-time liquidity and reducing the need for banks to hold reserves, thus enhancing capital efficiency [6] Group 4: Market Catalysts - The potential launch of a U.S. XRP spot exchange-traded fund (ETF) is a significant catalyst, with market expectations leaning towards approval by the SEC within the year [7]

Core Insights - The US SEC is expected to approve new crypto ETFs soon, with Solana and XRP ETFs having a 95% chance of approval and HBAR ETF at 90% [2] - The REX-Osprey Spot XRP ETF is set to launch on September 12, 2025, after the SEC completed its review without objections [4][5] - The broader crypto market is showing strength, with Solana and XRP experiencing significant price increases as ETF approval deadlines approach [6] Group 1: ETF Developments - HBAR, Solana, and XRP ETFs filed by Fidelity Investments and Canary Capital have made progress towards DTCC listing, indicating potential SEC approval [1][2] - The DTCC listing is an administrative step, and these ETFs still require SEC approval before trading can begin [3] Group 2: Market Performance - Solana has gained 6.3% and extended its weekly gains to 15%, outperforming other altcoins [6] - XRP has also shown strength, with an 8% increase over the past week, as investors anticipate the XRP ETF launch [6]

Core Insights - The SEC has extended the decision deadlines for Franklin Templeton's Solana and XRP ETF proposals to November 14 and BlackRock's iShares Ethereum Trust staking amendment to October 30, indicating a need for more time to consider these proposals [1][2] - Despite the delays, analysts project a high probability of approval for Solana and XRP ETFs this year, with prediction markets showing a 99% approval chance for Solana [2][3] Regulatory Context - Franklin's ETF filings for Ethereum, Solana, and XRP were submitted in mid-March, while BlackRock's amendment was filed on July 16, with the extensions being a standard regulatory procedure under Section 19(b) of the Securities Exchange Act [2] - As of August 29, there are 92 crypto ETF applications awaiting SEC review, contributing to a growing backlog [3] Strategic Developments - Delays are attributed to SEC coordination with Cboe and NYSE regarding generic listing standards, which would allow automatic crypto ETF listings without individual regulatory reviews [4] - The anticipated approval of generic listing standards in early October could lead to a surge in ETF launches, streamlining the process for multiple products [5] Market Sentiment - The SEC's current leadership shows openness to working with issuers, particularly regarding ETH staking integration, which may facilitate smoother processes for future proposals [6]

Core Viewpoint - Dogecoin and Shiba Inu are similar in nature as dog-themed meme coins, but Dogecoin is expected to grow faster due to the potential launch of a Dogecoin ETF in the U.S. [1] Group 1: ETF Developments - A Dogecoin ETF could launch in the U.S. soon, providing exposure to Dogecoin through traditional brokerages, which may enhance its market appeal [4] - There are multiple spot ETF filings for Dogecoin awaiting SEC rulings, indicating active engagement and potential for price increases if approved [5] - In contrast, there is no mainstream asset-manager spot ETF application for Shiba Inu, highlighting a significant opportunity gap [6] Group 2: Market Implications - The approval of Dogecoin ETFs could facilitate easier access to new capital inflows, potentially boosting its price [7] - Historical data shows that spot Bitcoin ETFs attracted approximately $37 billion in net inflows during their first year, suggesting that crypto ETFs can mobilize substantial capital if there is interest in the underlying asset [6] - Early inflows for Ethereum ETFs were modest initially but accelerated over time, indicating that new crypto ETFs can stimulate demand even if initial market reception is lukewarm [8]