Core Insights - Bitwise Asset Management launched the Bitwise Chainlink ETF on NYSE Arca on January 14, marking the second ETF in the U.S. to offer direct ownership of Chainlink tokens, thus creating competition with Grayscale's existing GLNK product [1] - The fund trades under the ticker CLNK with a management fee of 0.34%, which will be waived for the first three months on the first $500 million in assets [1] Company Overview - Bitwise manages over $15 billion in client assets across more than 40 crypto investment products [2] - The Chief Investment Officer of Bitwise, Matt Hougan, emphasized the importance of Chainlink as essential infrastructure for connecting blockchains to external information [2] Fee Competition - The standard fee for CLNK is 0.34%, slightly lower than Grayscale's 0.35%, with both funds currently offering fee waivers to attract early investors [3] - Grayscale's Chainlink ETF, launched on December 2, 2025, has accumulated $87.5 million in assets and its fee waiver lasts until March 2, 2026, or until assets reach $1 billion [3] Regulatory Context - Neither the Bitwise nor Grayscale fund is registered under the Investment Company Act of 1940, resulting in fewer regulatory protections compared to traditional mutual funds [4] Market Context - As of January 14, LINK traded at $14.12 with a 24-hour gain of 5.39%, and Chainlink holds approximately 49% of the oracle market by assets protected on its network [5] - Chainlink has facilitated over $27 trillion in transaction value across more than 70 blockchains since 2017 [5] Expansion Plans - Bitwise is expanding its altcoin ETF lineup, having filed for 11 new crypto ETFs on December 31, including funds for Tron and Zcash [6]

Core Insights - XRP has emerged as a leading cryptocurrency in early 2026, outperforming Bitcoin with a 25% surge compared to Bitcoin's 6% gain [1][10] - The surge in XRP's value is driven by significant institutional investment, particularly through newly launched XRP exchange-traded funds (ETFs) that have accumulated $1.3 billion in assets within 50 days [2][10] Market Dynamics - The XRP ETF market has seen unprecedented demand, with $483 million in fresh capital inflows in December, marking 43 consecutive days of positive inflows [5] - The resolution of Ripple's legal issues with the SEC in August 2025 has removed regulatory uncertainties, enabling major asset managers to launch XRP ETFs [4][10] - XRP is perceived as a "less crowded trade" compared to Bitcoin and Ethereum, leading to a more pronounced price impact from ETF inflows [6] Future Outlook - Analysts predict that continued inflows into XRP ETFs could create supply tightness, potentially removing billions of dollars' worth of XRP from circulation by year-end [7] - Ripple's strategic partnerships and investments, including a $500 million investment at a $40 billion valuation, are expected to enhance XRP's integration into the financial infrastructure [8] ETF Performance - **Bitwise XRP ETF (XRP)**: Market price of $24.38, AUM of $309.7 million, year-to-date increase of 20.6%, fees of 34 bps [12] - **Grayscale XRP Trust ETF (GXRP)**: Market price of $42.27, AUM of $277.8 million, year-to-date increase of 19%, fees of 35 bps [13] - **ProShares Ultra XRP ETF (UXRP)**: Market price of $12.47, year-to-date increase of 37.8%, fees of 164 bps [14] - **Volatility Shares Trust XRP 2X ETF (XRPT)**: Market price of $6.78, AUM of $142.9 million, year-to-date increase of 37.5%, fees of 94 bps [15]

The once-super-hot U.S.-listed spot crypto exchange-traded funds (ETFs) ran into their worst stretch on record in the final two months of 2025, as investors yanked billions, capping a brutal year-end for a product that has been a key driver of institutional adoption. The 11 spot ETFs cumulatively registered a net outflow of $1.09 billion in December after a much steeper $3.48 billion in November. That amounts to a combined two-month redemption worth $4.57 billion, the largest since their debut in January ...

Group 1: XRP ETFs Performance - Spot XRP ETFs in the United States have shown significant strength with $82 million in inflows over the past week, contrasting with outflows from Bitcoin and Ethereum ETFs [1] - XRP ETFs have crossed $1.2 billion in total assets under management (AUM) since their launch in mid-November, indicating sustained institutional interest despite outflows in other major cryptocurrencies [2] - The initial inflows into XRP ETFs were primarily driven by retail investors, but institutional interest has quickly followed, particularly from pension and insurance funds outside the U.S. [3] Group 2: Institutional Interest and Market Dynamics - XRP is perceived as easier for traditional investors to understand due to its role in payment systems and cross-border liquidity, aligning with familiar financial infrastructure [4] - Financial advisers are increasingly engaging with crypto assets that have long-term viability, with XRP's operating history reducing concerns about its longevity [4] - Despite the inflows into XRP ETFs, the price of XRP has remained under pressure, slipping below $2.0, indicating underlying weakness in the market [5] Group 3: Market Trends and Comparisons - Bitcoin and Ethereum ETFs experienced significant outflows of $497 million and $644 million respectively, driven by macroeconomic factors such as Bank of Japan rate hikes [6] - In addition to XRP, Solana ETFs recorded $66.5 million in inflows, highlighting a shift in institutional capital from major cryptocurrencies to other altcoins [7]

Core Insights - U.S. spot exchange-traded funds (ETFs) are experiencing inflows as Bitcoin shows a positive trend after a period of corrections [1] - Spot Ethereum ETFs attracted $177.64 million, surpassing Bitcoin ETFs which saw inflows of $151.74 million [1] - Ethereum's inflows are driven by institutional interest, viewing it as both an asset and infrastructure [2] Group 1: ETF Performance - Ethereum ETFs have accumulated $21.40 billion, representing approximately 5% of Ethereum's market cap of $400 billion [3] - Ethereum's price increased by 6.9% in the last 24 hours, currently trading at $3,329 [3] - Solana led altcoin ETFs with a net inflow of $16.54 million, while XRP attracted $8.73 million [1] Group 2: Market Sentiment - Prediction market Myriad indicates a 58% chance of Ethereum reaching $4,500, a significant rise from under 30% earlier in the month [4] - The divergence in inflows suggests a structural rotation in investment strategies, with institutions expanding their exposure beyond Bitcoin [5] Group 3: Future Outlook - Despite near-term macro uncertainties, the long-term outlook for ETFs remains bullish, with expectations of increased inflows as regulatory clarity improves [6] - Major financial institutions in the U.S. are beginning to open up to crypto, potentially allowing trillions of dollars to access crypto ETFs [6] - Analysts predict that 2026 could be a record year for ETF flows, particularly for Ethereum due to its utility and yield profile [6]

Market Overview - Bitcoin is trading just below the $90,000 mark, while Ether has increased by over 2% and XRP by 0.5% as investors are concerned about inflation and potential interest rate changes by the central bank in 2026 [2][4] - Major cryptocurrencies are showing positive movement as the market anticipates the Federal Reserve's final meeting of the year [1][2] ETF Developments - BlackRock has filed an application with the SEC for a staked Ether ETF, proposing an iShares staked Ethereum trust ETF to be traded on NASDAQ under the ticker ETHB [3][32] - This new ETF will complement BlackRock's existing EyesShares Ethereum Trust, which does not include staking [4] - The filing indicates optimism in the market, especially among other issuers who previously struggled to list spot Bitcoin ETFs [5] Regulatory Environment - The SEC has concluded its investigation into Finance, a tokenization platform, without any charges, suggesting a more favorable regulatory stance towards tokenized assets in the U.S. [6] - Binance has received regulatory approval in Abu Dhabi, with licenses granted for three of its entities, enhancing its compliance and operational legitimacy in the region [7][8] Market Sentiment and Predictions - Analysts are divided on Bitcoin's price trajectory, with some believing it is entering a prolonged bear market while others see it as a temporary pause in a bull market [10][11] - The recent liquidation event on October 10 resulted in over $19 billion being liquidated, significantly impacting market dynamics [16][17] - There is speculation about potential mergers and acquisitions among digital asset treasury companies as they navigate the current market conditions [22][24] Future Outlook - The passing of the Clarity Act is seen as a potential catalyst for the crypto market, providing much-needed regulatory clarity [28] - Analysts predict that 2026 could be a positive year for the crypto market, barring any unforeseen macroeconomic events [32]

ETF Market Trends - Leveraged and inverse ETFs, while small relative to the overall ETF market, exhibit significant trading activity, raising questions about their potential impact on the options markets [2] - Retail investors and ETF issuers are increasingly engaging with risky leveraged and options-based ETFs, viewing them as "lottery tickets" with potential for high returns [7][8] - The industry anticipates a lifecycle for retail investors in these products, with initial enthusiasm potentially leading to negative experiences and a subsequent shift towards more traditional index funds [9][10] - Issuers will continue to launch these products, but some will thrive while others will fail, presenting closure risk [10][11] Correlation and Volatility - There's a notable increase in volatility within the risk-on/risk-off space, impacting crypto and other high-beta stocks, leading to conditional correlation where seemingly unrelated stocks trade in line during market weakness [3][4][5] - Correlation convergence is observed during periods of volatility, impacting the prices of options on sector-based ETFs [5][6] Crypto ETFs - Despite recent downside volatility, Bitcoin ETFs have experienced substantial growth, with Bitcoin up over 80% since the launch of spot Bitcoin ETFs in January 2024 [12][17] - Spot Bitcoin ETFs have seen outflows of approximately $45 billion over the past month, but year-to-date inflows remain significant at around $22 billion [18] - Spot Ether ETFs are down 40% since early October, but year-to-date inflows are about $10 billion [19] - Deleveraging in the crypto space is identified as a primary driver of recent weakness, exacerbated by broader equity market weakness and increased correlation among higher beta names [19][20] - Bitcoin price could test the $70,000 level, which represents the breakout point and the cost basis of strategies Bitcoin holdings, potentially finding support near the cash cost of mining [16]

the sentiment difference between CT and institutions has never been greatercynical edgelords will end up giving their coins to the suits at a discountincrediblezoomer (@zoomerfied):[ ZOOMER ]VANGUARD TO ALLOW CLIENTS TO ACCESS CRYPTOCURRENCY ETFS AND FUNDS STARTING TOMORROW: BBG ...

Core Insights - XRP spot ETFs recorded $643.92 million in cumulative net inflows during their first month of trading, capturing 0.50% of XRP's market capitalization [1][7] - Daily inflows remained positive for most of the month, with notable sessions of $243.05 million on November 14 and $164.04 million on November 24 [1][3] - The leading issuers, including Grayscale, Franklin Templeton, Bitwise, and Canary, drove steady inflows across US exchanges, indicating early institutional interest [2] Trading Activity - The ETFs generated a total trading value of $38.12 million on November 26, with higher trading volumes earlier in the month coinciding with large inflow spikes [3] - Despite XRP's market price volatility, trading around $2.23, ETF demand helped offset wider crypto-market weakness [3] Institutional Demand - ETF inflows increased on nine of the past ten sessions, with $21.81 million entering XRP ETFs on November 26, suggesting sustained institutional demand [5] - Franklin Templeton disclosed holding 32.04 million XRP in its ETF by November 25, indicating continued accumulation [6] Market Developments - Other major asset managers, such as 21Shares and WisdomTree, are looking to enter the XRP ETF market, with 21Shares expected to launch its spot ETF soon [4] - Regulatory clarity for XRP products has improved, contributing to the positive inflow pattern observed in the first month of trading [7]

Group 1 - Grayscale has launched exchange-traded funds (ETFs) for Dogecoin (DOGE) and XRP, which began trading on NYSE Arca under the tickers GDOG and GXRP [1] - The GDOG and GXRP funds will have a 0% expense ratio for the first three months or until $1 billion is traded, a strategy to attract investors [2] - The launch of these ETFs coincides with a surge in altcoin ETFs, with over 100 crypto ETFs expected to be listed in the next six months [3] Group 2 - Canary Capital's XRP ETF achieved over $58 million in trading volume on its first day, marking it as the strongest ETF debut of the year [4] - The market is seeing a rise in leveraged ETFs for cryptocurrencies like Dogecoin, Bitcoin, and Ethereum, indicating a growing appetite for risk among investors [4] - XRP is currently trading at $2.07, down approximately 43% from its all-time high of $3.65, while DOGE is at $0.14, down 80% from its 2021 peak of $0.73 [5]