Ripple News: Bitwise CEO Says XRP ETFs Could Tap Into $100 Trillion of Traditional Finance

Bitwise Asset Management CEO Hunter Horsley predicts an XRP exchange-traded fund (ETF) would be a big success if approved, given the strong global interest in the token. Horsley said there is “a ton of energy and enthusiasm” around XRP that sets it apart from many other crypto assets.

In an interview with CoinDesk, Horsley explained that in traditional finance, “the death of an ETF is apathy,” but that is far from the case with XRP. He noted that XRP has one of the most passionate and active communities in crypto, which would likely translate into strong demand for an ETF.

Traditional Capital Could Flow Into XRP

According to Horsley, the appeal of an XRP ETF goes beyond retail investors. He pointed out that over $100 trillion in assets currently sit within traditional financial systems, and an ETF often acts as the bridge that allows such capital to gain exposure to new digital assets.

“I think if they have the opportunity to have exposure to and trade XRP, it’ll be a very useful and high-demand product,” he said.

Volatility to Persist in the Near Term

When asked about the volatility in crypto markets, Horsley said that Bitcoin is gradually maturing as more investors agree on how to value it. This growing consensus, he explained, helps narrow its price fluctuations over time.

However, for other large-cap assets such as XRP, Ethereum, and Solana, he expects volatility to persist for the next 12 to 18 months.

Investors Still Forming Consensus on Major Altcoins

Horsley attributed this ongoing volatility to the evolving understanding of these assets among investors. “Investors are busy, they’re thinking about AI, macroeconomics, government policy, or taking family vacations,” he said.

“So I think that there’s more thought development that will need to take place with Solana, XRP, and Ethereum before consensus emerges on those assets. So I think they’ll continue to be volatile for some time to come,” he said

He concluded that while volatility will remain part of the market for now, growing institutional access through products like ETFs could help shape clearer valuations and eventually lead to more stable trading conditions.

Risk Warnings and Disclaimers

You understand and acknowledge that there is a high degree of risk involved in trading. Following any strategies or investment methods may lead to potential losses. The content on the site is provided by our contributors and analysts for information purposes only. You are solely responsible for determining whether any trading assets, securities, strategy, or any other product is suitable for investing based on your own investment objectives and financial situation.

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Shutdown Hopes, Trump Dividend Talk Lift Bitcoin to $106K

Beincrypto

Bitcoin’s price plunged at the start of the week. However, it significantly recovered losses through a weekend rebound, stabilizing near $106,000 mark. The weekly decline, which had approached -10%, ultimately closed at -4.99%.

The rebound was driven by news of an imminent end to the US government shutdown and a social media post from President Trump.

‘Big Short’ Rumors Triggered Initial Plunge

The initial drop was sparked by deteriorating sentiment in the US stock market. On Tuesday, news broke that famous bear Michael Burry had established a $1.2 billion short position in AI stocks like Nvidia (NVDA) and Palantir (PLTR). This news encouraged skeptical investors to sell, leading to declines across all three major US stock indexes.

Despite the fundamental issue lying with AI equities, the crypto sector saw a steeper decline: BTC fell approximately 5% that day, while altcoins recorded even higher losses.

On-chain analysts attributed the sharp drop to an exodus of institutional investors. Major players had been reducing crypto positions since the October 10 “Black Friday” crash. Subsequently, the Tuesday stock market turbulence caused the already fragile supply-demand balance to collapse.

The market imbalance worsened quickly, pushing Bitcoin below the psychological $100,000 support on Wednesday, to a low of $99,000.

365-Day MA Holds as Critical Support

Analysts watched nervously, knowing a further drop would break the 365-day Moving Average (MA) line—a critical inflection point often marking the start of a bear market.

Fortunately, the current drop did not breach this line. Bitcoin found support and rebounded, successfully holding the 365-day MA as it had during two previous crises: the August 2024 Yen carry-trade unwinding and the April 2025 tariff crisis.

Ethereum , the second-largest crypto, plummeted to $3,100 on Wednesday. However, it recovered alongside Bitcoin, rising above the $3,600 level by Sunday, though its weekly loss stood at -6.55%.

Shutdown Resolution Becomes the Primary Catalyst

During the prolonged slump, analysts actively hoped for the end of the month-long US government shutdown. This was because the shutdown was widely believed to be reducing market liquidity by halting government spending.

The shutdown has resulted in approximately 750,000 federal employees being furloughed and a nearly 10% surge in flight delays due to pay suspensions for air traffic controllers. Ultimately, this has disrupted essential support programs.

Raoul Pal, founder of RealVision, argued that the halt in US fiscal policy was worsening market liquidity, with the crypto sector bearing the brunt. He predicted the shutdown’s resolution would be a powerful potential catalyst for a bullish reversal.

This belief was validated on Sunday when Senate Majority Leader John Thune hinted at the possibility of ending the shutdown. The news immediately spurred a Bitcoin rally. Thune’s comments caused the betting market on Polymarket to shift drastically; the likely end date for the shutdown moved from November 20th to November 11th.

Trump’s Dividend Talk Fuels Buy Impulse

Simultaneously, a social media post from President Trump provided another catalyst. He wrote: “People that are against Tariffs are FOOLS!…A dividend of at least $2000 a person (not including high income people!)”

The prospect of direct cash payments to citizens could be channeled into stock or crypto purchases. This possibility immediately pushed Bitcoin from the $103,000 range to over $105,000.

The Week Ahead: Politics and the Fed

The most critical factor this week will be whether the US government shutdown ends quickly. Initial procedural vote in Congress is expected on Tuesday. As the shutdown has suspended most US macro data collection for over a month, the influence of these figures will be limited for now.

Attention remains fixed on the potential for a further Fed rate cut in the December FOMC meeting. Several influential Fed officials are scheduled to speak this week, including:

On Monday, Mary Daly (San Francisco Fed President) and Alberto Musalem (St. Louis Fed President),
On Wednesday, John Williams (New York Fed President), Anna Paulson (Philadelphia Fed President), Raphael Bostic, Chris Waller, Stephen Miran, and Susan Collins.

The content of these speeches is expected to impact Bitcoin volatility significantly.

Risk Warnings and Disclaimers

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Trump Media posts $55M Q3 loss as Bitcoin bet reaches $1.3B

Cointelegraph

Trump Media and Technology Group’s Bitcoin holdings weren’t enough to prop up it’s balance sheet, as the company reported a $54.8 million loss in its third-quarter earnings as it was pinched with rising costs.

The Trump-tied company, which operates the Truth Social social media platform, shared on Friday that its Q3 net loss widened from the $19.3 million in losses compared to the same time last year.

The company reported revenues of $972,900, down from over $1 million a year ago. Shares in Trump Media (DJT) ended trading on Friday down 1.73% to $13.10, seeing a small bump after-hours to $13.20.

Trump Media reported that it held 11,542 Bitcoin (BTC) as of Sept. 30. It first announced it would start buying Bitcoin in late July, and flagged plans in its earnings to buy more, along with considering “the acquisition of other, similar cryptocurrencies.”

Bitcoin holdings generated income

Trump Media generated $15.3 million of realized income from its Bitcoin options investments and posted $33 million in unrealized gains from holding over 746 million Cronos, the native token of the Cronos blockchain. At the end of September, Cronos was trading hands for around $0.18.

The company said in July that it acquired Bitcoin as part of an investment strategy which it began in May, after raising $1.5 billion from stock sales and $1 billion from convertible senior secured bonds.

Devin Nunes, Trump Media’s CEO and President, said in a statement that the “third quarter was crucial to Trump Media’s expansion plans,” and the company has “secured our financial future with a massive Bitcoin treasury, and expanded our existing platforms.”

Trump media to buy up to $1 billion in Cronos

Trump Media entered into an agreement with crypto exchange Crypto.com and Yorkville Acquisition Corp in August to establish Trump Media Group CRO Strategy, a digital asset treasury company focused on acquiring Cronos.

In total, Trump Media Group CRO Strategy is expected to buy up to $1 billion in Cronos, representing over 6.3 trillion tokens, according to the Q3 results.

“With these financial assets now earning income, alongside our second consecutive quarter of positive operating cash flow, we’re well-poised to act on our mergers and acquisitions strategy by acquiring one or more of the crown jewel assets we’re now evaluating, with an eye toward those that will bring the most long-term value for our shareholders,” Nunes said.

Stock price struggling to make gains

The company’s financial assets have also grown from $274 million in March 2024, when it went public, to $3.1 billion as of Sept. 30, Nunes added.

However, its stock has been trending downward, losing 61% year-to-date.

Risk Warnings and Disclaimers

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Ethereum Recovers Steadily After Selloff, Traders Watch Resistance Near $3,720

NewsBTC

Ethereum price started a recovery wave above $3,350. ETH is showing positive signs but faces hurdles near the $3,720 resistance.

Ethereum started a decent upward move above $3,350 and $3,400.
The price is trading above $3,500 and the 100-hourly Simple Moving Average.
There was a break above a bearish trend line with resistance at $3,350 on the hourly chart of ETH/USD (data feed via Kraken).
The pair could continue to move up if it clears the $3,720 zone.

Ethereum Price Attempts Recovery

Ethereum price managed to stay above $3,200 and started a recovery wave, like Bitcoin. ETH price was able to climb above the $3,350 and $3,400 resistance levels.

There was a break above a bearish trend line with resistance at $3,350 on the hourly chart of ETH/USD. The pair surpassed the 50% Fib retracement level of the downward move from the $3,920 swing high to the $3,058 low. The upward move was such that the price spiked above $3,620.

Ethereum price is now trading above $3,550 and the 100-hourly Simple Moving Average. If there is another recovery wave, the price could face resistance near the $3,650 level. The next key resistance is near the $3,720 level and the 76.4% Fib retracement level of the downward move from the $3,920 swing high to the $3,058 low.

The first major resistance is near the $3,750 level. A clear move above the $3,750 resistance might send the price toward the $3,820 resistance. An upside break above the $3,820 region might call for more gains in the coming days. In the stated case, Ether could rise toward the $3,880 resistance zone or even $3,925 in the near term.

Another Decline In ETH?

If Ethereum fails to clear the $3,650 resistance, it could start a fresh decline. Initial support on the downside is near the $3,580 level. The first major support sits near the $3,500 zone.

A clear move below the $3,500 support might push the price toward the $3,450 support. Any more losses might send the price toward the $3,350 region in the near term. The next key support sits at $3,250 and $3,220.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone.

Hourly RSI – The RSI for ETH/USD is now above the 50 zone.

Major Support Level – $3,500

Major Resistance Level – $3,650

Risk Warnings and Disclaimers

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Asia Market Open: Bitcoin, Global Markets Climb as US Shutdown Negotiations Show Signs of Progress

CryptoNews

Bitcoin jumped back above $106,000 as Asia opened on Monday, and regional stocks advanced as .

The Senate on Sunday advanced a 60-vote cloture deal to reopen the federal government, sending the package to the House and President Trump for approval.

The agreement funds operations through Jan. 30, 2026, reverses certain employee firings, secures SNAP benefits through fiscal 2026 and sets up a December vote on Affordable Care Act subsidies.

Relief over a near-term resolution fed risk appetite, and traders rotated into higher beta assets.

Nasdaq futures rose 0.8% and S&P 500 futures gained 0.5% in early trade, signaling a firmer Wall Street open.

Crypto reflected the swing in sentiment. After the early pop, Bitcoin last traded near $106,097, up 4.4% from 24 hours earlier.Market snapshot

Bitcoin: $106,097, up 4.4%
Ether: $3,636.14, up 7.9%
XRP: $2.44, up 7.8%
Total crypto market cap: $3.66 trillion, up 4.8%

Investors Looked Past Recent Volatility As Liquidity Returned To Equities And Crypto

Across equities, MSCI’s Asia ex-Japan index added 0.5% and Japan’s Nikkei rose 0.6%. South Korea’s Kospi advanced 2%, and in Europe, Euro Stoxx 50 and DAX futures gained 1.3% each.

Bond markets signaled a modest unwind of safety trades. The US 10-year yield edged up to about 4.13%, while the two-year rose to roughly 3.59%. The dollar recovered part of last week’s pullback as investors reassessed the growth outlook against a patient Federal Reserve.

Inside Washington, the prolonged shutdown has strained the economy. Federal workers across airports, law enforcement and the military have gone unpaid, and the central bank has faced data gaps with limited government reporting.

NEW: U.S. GOVERNMENT SHUTDOWN PREDICTED TO END NOV. 14 ON , AS AXIOS REPORTS AT LEAST 10 SENATE DEMOCRATS WILL BACK PROCEDURAL MOTION FOR SPENDING BILLS AND SHORT-TERM FUNDING THROUGH JANUARYSOURCE: — DEGEN NEWS (@DegenerateNews) Shutdown Fallout Weighs On Confidence, Keeping Investors Cautious

White House economic adviser Kevin Hassett said fourth-quarter GDP could turn negative if the shutdown persisted.

Consumer nerves showed up in the data. in early November as households weighed the potential fallout, adding another layer of uncertainty to trading desks.

For crypto, the path to a deal matters. The shutdown had tightened liquidity across pockets of the market and increased volatility around macro releases, so clearer fiscal footing lowers tail risks and supports positioning in digital assets sensitive to growth and risk cycles.Wall Street Eyes Shutdown Vote After Turbulent Week For Tech Stocks

Equity investors kept one eye on last week’s shakeout. Concerns over stretched valuations in AI-linked names sparked the Nasdaq Composite’s worst week since April’s tariff-driven selloff, with the index down 3%. The S&P 500 fell 1.6% and the Dow slipped 1.2% for the week.

Fed speakers last week signaled a preference to go slow on further rate cuts, and recent employment readings hinted at softening momentum. Traders, balancing those signals with the shutdown news, leaned toward a constructive start to the week.

As the House takes up the Senate package and the White House reviews it, markets will watch the timeline closely. A clean passage keeps the relief bid intact, while any snag could revive volatility across both stocks and crypto.

Risk Warnings and Disclaimers

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Stablecoin demand is growing, and it can push down interest rates: Fed’s Miran

Cointelegraph

A growing demand for US dollar-tied crypto stablecoins could help push down the interest rate, says US Federal Reserve Governor Stephen Miran.

The Donald Trump-appointed Miran told the BCVC summit in New York on Friday that the dollar-pegged crypto tokens could be “putting downward pressure” on the neutral rate, or r-star, that doesn’t stimulate or impede the economy.

If the neutral rate drops, then the central bank would also react by dropping its interest rate, he said.

The total current market cap of all stablecoins sits at $310.7 million according to CoinGecko data, and Miran suggested that Fed research found the market could grow to up to $3 trillion in value in the next five years.

“My thesis is that stablecoins are already increasing demand for U.S. Treasury bills and other dollar-denominated liquid assets by purchasers outside the United States and that this demand will continue growing,” Miran said.

“Stablecoins may become a multitrillion-dollar elephant in the room for central bankers.”

Organizations, including the International Monetary Fund, have warned that stablecoins threaten traditional financial assets and services as they could compete for customers. US banking groups have also urged Congress to tighten oversight of stablecoins with yield, arguing they could attract would-be bank users.

Regulation to pave the way

During his speech, Miran praised the GENIUS Act for setting out clear guidelines and consumer protections, as he indicated that the regulatory framework will play a key role in spurring broader adoption of stablecoins.

“While I tend to view new regulations skeptically, I’m greatly encouraged by the GENIUS Act. This regulatory apparatus for stablecoins establishes a level of legitimacy and accountability congruent with holding traditional dollar assets,” he said, adding:

“For the purposes of monetary policy, the most important aspect of the GENIUS Act is that it requires U.S.-domiciled issuers to maintain reserves backed on at least a one-to-one basis in safe and liquid US dollar–denominated assets.”

Risk Warnings and Disclaimers

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DTCC lists five spot XRP ETFs as November launch anticipation grows

The Block