Popular stores of value like Bitcoin and gold jumped Wednesday, diverging from a spooked stock market that contracted in the wake of the U.S. government’s first shutdown in nearly seven years.  Bitcoin is up 3.6% in the last 24 hours, to $117,293 at writing, reaching its highest price in about two weeks. The token has spiked over 7% since Sunday. Gold, meanwhile, soared to a new all-time high Wednesday morning above $3,922 per ounce, according to Yahoo Finance. It has remained closed to the mark, recently p ...

Solana, Dogecoin, and Cardano all showed outsized gains relative to the rest of the crypto market recovery on Wednesday morning. The broader crypto market capitalization has posted a 3.3% bump since this time Tuesday, according to price aggregator CoinGecko. But SOL increased by 6.3% to $220; DOGE climbed 7.7% to $0.245; and ADA has gained 6.6% to $0.84 at the time of writing. The U.S. Congress did not get the votes it needed to approve a continuing resolution late Tuesday, which would have averted a gove ...

Core Viewpoint - Reliance Global Group has completed the purchase of XRP, enhancing its Digital Asset Treasury initiative and diversifying its portfolio with a top-tier cryptocurrency recognized for its speed and scalability in cross-border payments [1][2][3] Group 1: Digital Asset Strategy - The addition of XRP follows previous purchases of Bitcoin, Ethereum, and Cardano, reflecting a disciplined approach to building a diversified digital asset portfolio [2][3] - The company aims to integrate digital assets into its broader strategy, merging innovative technologies with its established strengths in insurance and financial services [3][10] - Reliance emphasizes the importance of secure custody, transparent oversight, and regulatory compliance in managing its digital assets [3][10] Group 2: XRP Characteristics - XRP is the fourth-largest cryptocurrency by market capitalization and is widely used as a bridge asset for international payments [2] - Key features of XRP include transaction settlement in 3-5 seconds, low transaction fees, partnerships with global banks for liquidity management, scalability of over 1,500 transactions per second, and energy efficiency compared to proof-of-work blockchains [5][6] Group 3: Long-term Vision - The company believes that the disciplined diversification into digital assets will capture the transformative potential of blockchain technology and drive long-term shareholder value [3][6] - Reliance's strategy includes balancing innovation with prudent governance and compliance, aiming to enhance resilience, efficiency, and growth through blockchain participation [3][6]

Sixteen spot crypto ETFs await SEC approval. | Credit: Getty Images. Key Takeaways Sixteen spot crypto ETF applications await final approval from the SEC in October. The SEC has asked issuers to withdraw 19b-4 filings after adopting new generic standards. Bloomberg’s Eric Balchunas says approval odds are “100%.” The U.S. Securities and Exchange Commission (SEC) is on the verge of approving a wave of new spot crypto exchange-traded funds (ETFs). Sixteen funds—covering Solana (SOL), XRP, Liteco ...

Reliance joins other Nasdaq- and NYSE-listed firms viewing Bitcoin as a store of value.The company now holds Bitcoin, Ethereum, and Cardano in its portfolio.Reliance Global Group (RELI) completed its first Bitcoin purchase as part of its Digital Asset Treasury initiative.Reliance Enters Bitcoin MarketReliance Global Group, Inc. (NASDAQ: RELI) has made its first Bitcoin purchase. The move marks a significant step in the company’s digital asset treasury initiative.This acquisition is Reliance’s largest crypto ...

The U.S. Securities and Exchange Commission (SEC) has instructed issuers of proposed spot exchange-traded funds (ETFs) for Litecoin, XRP, Solana, Cardano, and Dogecoin to withdraw their pending Form 19b-4 filings. The move follows the agency’s September 18 approval of generic listing standards, which streamline the process for bringing new cryptocurrency ETFs to market. The instruction does not represent a setback for issuers. Instead, it reflects a procedural shift that eliminates the need for case-by-c ...

Investors pulled money out of Bitcoin and Ethereum ETFs last week but threw cash at funds giving altcoin exposure, a new report on global crypto ETF investments shows.  Data from digital asset manager CoinShares shows that while investors pulled cash out of the two biggest digital coins last week, helping fuel price declines, other investors placed bets on Solana and XRP.  Investors pumped $291 million into funds giving exposure to SOL, the sixth-biggest coin by market cap, and over $93 million into XRP inv ...

The SEC just changed the structure of the crypto market forever. Last week, it basically gave the green light to spot crypto ETFs of all kinds, opening the door to a wave of altcoin ETFs that could send billions flooding into the broader crypto market. Finally, that rotation from BTC into altcoins that everyone has been desperate for could be upon us.So, which cryptos are next in line for an ETF approval. What does this mean for altcoin prices. And are we finally about to see a full-blown alt season.Today, ...

In a breakthrough development, the US Securities and Exchange Commission (SEC) approved the expansion of the Hashdex Nasdaq Crypto Index ETF under the new generic listing standards. This ETF comprises the top digital assets such as Bitcoin , Ethereum , XRP , Solana , and Stellar . Hashdex Crypto Index ETF Will Trade on Nasdaq The crypto ETF will trade on Nasdaq under the ticker NCIQ. This is the second crypto ETF fund launched in a week’s time after Grayscale’s GDLC. The Hashdex Crypto Index ETF is stru ...

Group 1 - GSR has filed for an exchange-traded fund (ETF) focused on cryptocurrency treasuries, along with proposals for four additional funds targeting Ethereum and staking [1][7] - The GSR Digital Asset Treasury Companies ETF will allocate at least 80% of its assets to companies that hold cryptocurrencies in their corporate treasuries, initially targeting 10-15 positions [2][4] - The filing includes examples of treasury companies such as MicroStrategy, which holds approximately 640,000 Bitcoin valued at nearly $73 billion, and other firms like Bitmine Immersion and SharpLink [5][6] Group 2 - GSR's recent initiatives reflect a growing trend in cryptocurrency treasuries, expanding beyond Bitcoin to include assets like Ethereum, Solana, XRP, and TON [4] - The company has recently established a U.S. asset management division and led a $100 million funding round for Upexi to develop a Solana treasury [6] - The SEC is currently reviewing over 90 applications for various crypto ETFs, indicating a more favorable regulatory environment for such products [7][8]