Why is CoinShares axing its XRP, Solana and Litecoin ETFs just days before its US debut?

Bitcoin price has recorded heightened volatility on Friday fueled by the CME Group outage. The flagship coin surged as much as $93k before dropping to reach a daily low of around $90.2k.

Bitcoin Price Eyes $100k in December Fueled By Robust Fundamentals 

According to the BTIG firm, the Bitcoin price is well-positioned to rebound toward $100k in December. The firm noted that BTC price typically bottoms around November 26 and strengthens into year-end.

The firm noted that the Bitcoin price is likely to strengthen further in the next few weeks after hitting oversold levels. Moreover, Bitcoin’s daily Relative Strength Index (RSI) dropped to an oversold level last week following the extreme selloff.

Institutional Buying Pressure Supports Bullish Thesis

BTC price is well-positioned to continue in a bullish outlook in the near future fueled by the renewed demand from institutional investors. The rising demand for Bitcoin by institutional investors is evident from the Coinbase BTC Premium index, which turned positive on Friday after a prolonged negative period in the last few weeks.

Historically, a positive Coinbase BTC Premium index has been associated with a bullish outlook and vice versa.

The U.K. is preparing to tighten the net around hidden crypto profits, setting the stage for a sweeping tax enforcement regime that will rely on detailed trading data collected directly from cryptocurrency exchanges.

UK Sets Start Date for Mandatory Transaction Tracking

Beginning January 1, 2026, crypto exchanges operating in the country must start gathering complete transaction histories for all their U.K. users. The requirement covers how much customers pay for digital assets, the amounts they sell for, and any profit or loss.

HM Revenue & Customs (HMRC) will receive that information in 2027. Exchanges classified as “Reporting Crypto asset Service Providers” will send the data without exception. The tax authority will then compare the records to individual self-assessment filings.

"UK reporting Cryptoasset Service Providers will be required to report on their UK tax resident customers under the Cryptoasset Reporting Framework. Information for first reports to HMRC will be collected from 1 January 2026 and reported to HMRC in 2027," HM Treasury mentioned.

Tax specialists say the timeline gives traders until the end of 2026 to ensure their filings match their actual transaction history. HMRC has warned it will sanction platforms that fail to gather the required information, as well as pursue individuals who underreport their gains.

The government confirmed the plan in its 2025 Budget, describing it as part of a broader clampdown on tax avoidance. From 2027, HMRC will receive crypto trading data automatically for the first time, removing the uncertainty that has long surrounded digital asset taxation.

Read more: UK Crypto Firms Will Need to Collect Every Customer's Address, Tax Number from 2026

The rules align the U.K. with the OECD’s Crypto-Asset Reporting Framework. This global initiative aims to standardize how governments track digital asset activity. The framework is already underway in the European Union, Canada, Australia, Japan, and South Korea.

Budget Also Tweaks Economic Crime Levy Bands

Alongside the crypto measures, the Budget outlined changes to the economic crime levy starting April 1, 2026. The former “large” revenue band of £36 million to £1 billion will split into two tiers: £36 million to £500 million and £500 million to £1 billion.

Charges remain set at 0.1% of revenue for firms at the lower end of each band. The government also committed over £1.5 billion to youth employment and skills programs, including the Youth Guarantee, which promises education or job support for people aged 16 to 24.

The Budget document further stated that visa system reforms will ensure U.K. businesses can access global talent as the economy adapts to new regulatory and technological developments.

The spot XRP ETFs have continued to make waves with massive daily inflows and trading volume since the launch of the first product, and today is not an exception.

Recent intraday data shared by popular crypto analyst Chad Steingraber shows that all five listed XRP ETFs have pulled in $21.12 million in combined trading volume within just a few hours.

While the XRP ETFs have continued to record strong performances since their emergence, the volume recorded today is impressive but decently low compared to previous days. This suggests that investors have remained confident in the product.

The five XRP ETFs that have launched recently are U.S.-based products that give investors pure, direct exposure to XRP. With these products, entities can invest in XRP without having to actually hold the tokens directly.

Franklin Templeton XRP ETF takes lead

Further data shared by the analyst shows that the Franklin Templeton XRP ETF has recorded the strongest intraday performance among all five XRP ETFs. Notably, the XRPZ ETF led the market with $6.34 million in trading volume from 267,864k shares.

Followed by Franklin, the second strongest performing fund for the day is Canary’s XRPC ETF, which posted a trading volume of $5.63 million on 242,079k shares within the same period.

Notably, this was followed by Bitwise’s XRP ETF with $5.20 million across 212,668k shares. Furthermore, the remaining two XRP ETFs issued by REX-Osprey and Grayscale achieved $1.99 million and $1.96 million in trading volume respectively.

More XRP ETFs gearing for launch

With the already listed XRP ETFs consistently making waves with strong daily performances, more ETFs are expected to join the pack in the coming days, propelling XRP toward more institutional adoption.

With the growing buzz surrounding the XRP ecosystem, three more XRP ETFs, including 21Shares, CoinShares, and WisdomTree, are lined up for the next listings.

While this move has continued to garner momentum for XRP, bolstering its appeal among institutions, holders are confident that the surging institutional demand could position the token for an explosive rally soon.

XRP spot ETFs recorded $643.92 million in cumulative net inflows during their first month of trading, according to SoSoValue data. The products also reached $676.49 million in total net assets, capturing 0.50% of XRP’s market capitalization.

Daily inflows remained positive for most of the month. The strongest sessions included $243.05 million on November 14 and $164.04 million on November 24.

Trading Volume Resilient Despite XRP Price Volatility

The leading issuers—Grayscale, Franklin Templeton, Bitwise, and Canary—collectively drove steady inflows across US exchanges. 

Together, the four funds brought ETF-held XRP above 0.5% of total circulating supply, indicating early institutional interest.

The ETFs generated a total value of $38.12 million in trading on November 26 alone. Trading volumes earlier in the month were higher, coinciding with large inflow spikes.

However, XRP’s market price remained volatile. The token traded around $2.23 as ETF demand offset wider crypto-market weakness.

Meanwhile, other major asset managers are looking to enter the XRP ETF race. 21Shares is expected to launch its spot ETF on Monday as WisdomTree’s application remains under review.

Early Signs Point to Sustained Institutional Demand

ETF inflows increased on nine of the past ten sessions. The most recent daily total showed $21.81 million entering XRP ETFs on November 26.

This inflow streak suggests institutions are still building exposure. It also reduces liquid supply on exchanges, as ETF custodians move XRP into regulated storage.

Franklin Templeton disclosed 32.04 million XRP held in its ETF by November 25, signalling continued accumulation. 

This steady inflow pattern in the first month is positive for new crypto ETFs and reflects improved regulatory clarity for XRP products.Meanwhile, XRP wasn’t the only altcoin to receive an ETF greenlight over the past week. Dogecoin, HBAR, and Litecoin spot ETFs also started trading earlier this month.However, these funds did not receive any notable interest from institutional investors. Bitwise and Grayscale’s DogeCoin ETF only attracted around $2 million in inflows in their first 48 hours of trading.

A long-term structural analysis suggests the Dogecoin price may be approaching a critical point in this market cycle. With price action compressing and volatility fading, a crypto analyst’s wave-based assessment suggests that DOGE is preparing for an explosive surge toward $10 and beyond, driven by a third-wave deadlock. 

Third Wave Deadlock To Fuel Dogecoin Price Rally

Crypto market expert EtherNasyonal has stated that Dogecoin remains trapped within a third-wave deadlock. This means the cryptocurrency has not yet shown the decisive movement that typically follows a strong wave. Instead, it continues to trade in a tight range without confirming a clear breakout as the price remains confined to the lower region of the ascending channel. 

The analyst shared an Elliott Wave chart highlighting Dogecoin’s long-term trajectory and price targets above $10, based on a multi-year channel model. His analysis highlights three major waves that define the meme coin’s macro structure. The first wave, which started in 2014, saw an early breakout in 2017, while the second wave triggered the explosive 2021 bull rally. The price action that followed transitioned into the current third wave, during which Dogecoin remains locked in a consolidation zone as it awaits the wave’s completion. 

If historical patterns were to repeat, EtherNasyonal suggests that Dogecoin could see a third-wave breakout. His chart analysis reveals an ascending channel pointing to several upward targets. If the cryptocurrency manages a breakout, the channel points to an initial target around $0.5, followed by higher targets ranging from $1.2 to over $16. The analyst has also stated that the third-wave breakout will define the strength and direction of Dogecoin’s next major trend. 

Analyst Says Dogecoin Will Reach $1 By 2026

A fresh analysis from crypto market expert Trader Tardigrade focuses on a less ambitious price target for Dogecoin and on a different timeframe. His weekly chart shows that the meme coin has repeatedly bounced off a long-standing ascending support line. Each of these past rebounds has triggered significant rallies in the Dogecoin price. 

In November 2024, the meme coin skyrocketed by 86.77%. Just four months later, in March 2025, Dogecoin launched another impressive rally, climbing 210.52%. The momentum continued in November of the same year, with the price surging by 442.48%.

Trader Tardigrade notes that Dogecoin has returned to this launchpad area once again, testing the same trendlines that previously ignited strong upward movements. If the historical pattern holds, the analyst predicts DOGE could hit $1 by Q1 2026. His chart shows a potential 611.80% from present levels around $0.15.

Although the meme coin is currently in a slump, having lost more than 20% over the past month according to CoinMarketCap, Trader Tardigrade remains confident in its long-term outlook. A move toward $1 would signal a decisive bullish reversal, restoring investor sentiment and overturning the prevailing downtrend.

A big tech bounce, rising geopolitical tensions, and fresh economic momentum shaped the day’s headlines.

Intel led markets higher after hopes grew that it could soon win Apple’s chip business, while China pressed the UK to reaffirm its stance on Taiwan amid regional frictions.

India delivered another blowout growth print, reinforcing its status as the fastest-growing major economy. And in crypto, CoinShares pulled back several US ETFs as it refocuses its strategy for a tougher market.

A glance at the major developments on Friday.

Intel gains on Apple hopes

Intel’s stock jumped more than 10% on Friday, landing at about $40.62, its biggest pop in months.

The excitement came after analyst Ming-Chi Kuo said Intel is looking more likely to win Apple’s business for building entry-level M-series chips starting in mid-2027.

If that happens, Intel would be making chips for devices like the MacBook Air and the iPad Pro, with an estimated 15–20 million units shipping each year.

That would be a huge credibility boost for Intel Foundry Services as it continues trying to claw its way back and compete with TSMC.

For Apple, the move would spread out its supply chain and fit nicely with the “Made in USA” priorities under President Trump.

And for Intel, it adds another piece to the company’s turnaround story, even if it’s still behind some rivals on the tech front.

China urges the UK on Taiwan

China’s Foreign Minister Wang Yi pressed the UK to stick to the “one-China” principle during a meeting in Beijing with Britain’s National Security Adviser Jonathan Powell on Friday.

His message comes at a tense moment, as Beijing is already locked in a growing diplomatic spat with Japan over Taiwan.

China keeps insisting that both sides of the Taiwan Strait are part of one country, something Taiwan flatly rejects.

During the meeting, Wang pushed for the UK and China to keep up their “strategic dialogue” and coordinate more closely, and he also brought up the situation in Ukraine.

Overall, the appeal shows how determined China is to shore up international backing on what it considers its most important issue: Taiwan.

India’s growth surges again

India’s economy came in hot for Q2 FY26 (July–September), posting 8.2% GDP growth, its fastest pace in a year and a half.

That beat pretty much everyone’s expectations, from the RBI’s 7% forecast to economists’ estimates of around 7.3%.

Manufacturing was a standout, jumping 9.1% compared to just 2.2% a year ago. Financial services also had a huge quarter, growing 10.2%, helped by festive-season stock-ups and recent GST cuts.

Private consumption was strong too, rising 7.9%, though government spending pulled back a bit.

Prime Minister Narendra Modi praised the numbers as proof that pro-growth reforms are paying off, especially as India faces pressure from new US tariffs.

With this momentum, growth for the first half of FY26 now averages a solid 8%, keeping India in the lead as the fastest-growing major economy.

CoinShares resets US strategy

CoinShares announced on Friday that it’s shutting down a few of its US crypto ETFs, including the Bitcoin Futures Leveraged (BTFX) fund, as it reshapes its lineup ahead of a bigger push into the US market.

Instead of rolling out more single-asset products, the company is shifting its focus toward higher-margin ideas, like crypto-related equities and broader, diversified products over the next year or so.

The ETFs that are being closed, including those under CoinShares Valkyrie, are expected to be liquidated around December 16.

For Europe’s biggest digital-asset manager, this is essentially a strategic reset while the US crypto market waits for its next wave of innovation, especially at a time when bitcoin ETFs have been seeing steady outflows.