Dogecoin Rises Ahead of ETF Launch Despite Elon Musk's Setback
Dogecoin climbs 3% as Grayscale’s ETF launch approaches, while Elon Musk’s Department of Government Efficiency (DOGE) is quietly shut down in Washington.
ETF
XRP and Dogecoin Surge as New ETFs Launch Tomorrow
XRP and Dogecoin prices are climbing ahead of the launch of new Grayscale ETFs for both assets on Monday. NYSE Arca has approved the listing of the funds, marking a significant expansion of crypto investment products.
Large Investors Jump Back Into Bitcoin After a Day of Losses
After a day of heavy outflows, Bitcoin funds saw a significant inflow of $238 million, with major funds like BlackRock’s IBIT leading the recovery. Ethereum and Solana funds also showed positive signs, though many Bitcoin investors remain in the red due to recent price drops.
Major Bank Reveals It's Mostly These Investors Selling Bitcoin
A JPMorgan analyst reports that the recent crypto market downturn is primarily driven by retail investors selling spot Bitcoin and Ethereum ETFs, not professional traders. This is happening while these same investors pour record funds into equity ETFs, indicating they view crypto as a distinct asset class.
Bitcoin ETFs Record $782 Million Outflow in a Single Day
U.S. spot Bitcoin ETFs experienced a massive €782 million outflow in one day, with November on track to be the worst month for the products. BlackRock and Fidelity led the exits as Bitcoin’s price fell to a seven-month low, while altcoin ETFs saw inflows.