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Crypto ETFs are here to stay, downturn be damned

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Crypto ETFs are here to stay, downturn be damned

Despite a bearish cryptocurrency market, ETF issuers continue to push forward with new filings, betting that demand for digital asset funds will remain strong.

Summary

  • ETF issuers like Bitwise, ProShares, and 21Shares are advancing with new filings, including plans for Uniswap-linked and leveraged Bitcoin/Ether ETFs.
  • The crypto ETF market is crowded, with over 140 existing funds, 10 new launches this year, and more expected.
  • Bitcoin’s sharp price drop has led to significant losses for ETF buyers, with $1.5 billion withdrawn from Ether ETFs and over $3.5 billion from Bitcoin ETFs in the past three months.

This month, Bitwise Asset Management filed for a Uniswap-linked ETF, while ProShares sought approval for leveraged Bitcoin and Ether ETFs. 21Shares also resubmitted plans for funds based on Ondo and Sei, signaling progress in its efforts.

Todd Sohn, chief ETF strategist at Strategas, told Bloomberg that while firms like 21Shares and Bitwise remain committed to the long-term potential of crypto, ongoing poor performance could affect future flows.

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This comes amid a crowded market, with over 140 crypto-focused US ETFs already trading, and 10 more launched this year. A BNB staking ETF is expected soon.

Cryptos have faced renewed pressure after October’s selloff, with Bitcoin falling sharply, dragging smaller tokens down. Investors are stepping back as liquidity tightens and risk appetite wanes.

Data from Glassnode shows that buyers of U.S. spot-Bitcoin ETFs are sitting on average paper losses, having bought Bitcoin at around $84,100 per coin, while the price now hovers near $66,000. This has led to significant outflows, with over $1.5 billion withdrawn from Ether-focused ETFs and more than $3.5 billion pulled from Bitcoin ETFs in recent months.

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New Berkshire Hathaway CEO still talks with Warren Buffett nearly every day

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Berkshire CEO Greg Abel on succeeding Warren Buffett: I still check in with him nearly every day
Berkshire CEO Greg Abel on succeeding Warren Buffett: I still check in with him nearly every day

Berkshire Hathaway CEO Greg Abel said he still speaks with Warren Buffett nearly every day, underscoring the continued presence of the legendary investor at the sprawling conglomerate, even after handing over the top job at the start of the year.

Buffett, who stepped down as CEO after more than six decades at the helm, remains chairman of the Omaha-based company and continues to come into the office regularly, Abel said.

“He’s in the office every day, so we’re talking every day if I’m in Omaha, we’re always connecting,” Abel said on CNBC’s “Squawk Box” Thursday. “If I’m traveling, like I was yesterday, I often check in just to catch up on what he’s seeing, what he’s hearing, what am I feeling. So if it’s not every day, it’s every couple days.”

Abel also acknowledged the challenge of stepping into Buffett’s role as Berkshire’s chief communicator to shareholders, particularly when writing his first annual letter to investors.

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“The shoes to fill are tough on all fronts, but Warren is an exceptional communicator,” Abel said. “It was not easy. I’ve told Warren, ‘listen, the responsibilities transferred are great, but as far as the work and the task I had to do, that was the toughest.’”

Abel used the letter to shareholders to outline a clear framework of foundational values centered on financial strength and disciplined investing, vowing to preserve the blueprint Buffett carefully orchestrated since the 1960s.

Buffett offered little comfort, Abel added with a laugh. “When we were discussing it, he said, ‘the second letter doesn’t get any easier.’”

On investing, Abel said Berkshire is unlikely to move into cryptocurrencies, echoing Buffett’s longstanding skepticism of the asset class.

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“I don’t think you’ll see crypto … I just don’t see it,” Abel said.

He left the door open to investments tied to technology, however.

“What I do see is that when it comes to technology, even from an operational perspective, where we’re seeing how we use it, the impact it’s having, it does allow us to develop strong views and a better knowledge base around certain companies that are technology companies, or how we’re using the technology. So technology will always be on the table,” Abel said.

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ETH, XRP, ADA, BNB, and HYPE

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eth_price_chart_0503261

This Thursday, we examine Ethereum, Ripple, Cardano, Binance Coin, and Hyperliquid in greater detail.

Ethereum (ETH)

With $2,000 support secured, Ethereum has a good shot at testing the $2,400 resistance in the near future. This also allowed the price to close the week with a 2% gain.

The current PA shows a clear reversal pattern, with a bullish engulfing candle indicating buyers are back in control. To secure their dominance, they will need to break above $2,400 as well.

Looking ahead, the most important resistance on the chart is found at $2,800. Thus, bulls may be able to keep Ethereum in a rally until then. Once there, sellers could return in force.

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eth_price_chart_0503261
Source: TradingView

Ripple (XRP)

XRP turned bullish this week and reclaimed the $1.4 support level. While the price fell by a modest 2% compared to last week, the recent buying spree sends a strong bullish signal to market participants.

The most important resistance point is at $1.6, which will need to become support if buyers want to keep XRP in a sustained uptrend. Any weakness there will quickly be exploited by sellers.

Looking ahead, after a prolonged downtrend, this cryptocurrency is finally giving signs that the selloff may be behind us and a recovery is likely.

xrp_price_chart_0503261
Source: TradingView

Cardano (ADA)

Cardano had a difficult start this week, falling by 7%. Buyers tried multiple times to reclaim the support at 28 cents, but each time they were rejected, including this week. This is a sign of weakness.

As long as ADA keeps failing to move above 28 cents, it is unlikely for any bullish momentum to form. Should selling intensify, the price may fall to 24 cents again, as it did earlier this year.

Looking ahead, this cryptocurrency is in a tough spot. While most altcoins are giving signs of a reversal, Cardano still lags behind its peers. Hopefully, this will change soon and push the price back into an uptrend.

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ada_price_chart_0503261
Source: TradingView

Binance Coin (BNB)

Binance Coin moved higher by 4% this week after buyers defended the $580 support well. Their current target is the resistance at $690, which may be challenging to break through, given the previous price action.

Even if sellers attempt to defend the current resistance, bullish momentum is intensifying and may be enough to drive a quick relief rally towards $900.

Looking ahead, BNB has a clear shot at a rally in the weeks to come, considering that since late 2025, the price has been in a downtrend. A sustained rally appears likely and may be quite significant.

bnb_price_chart_0503261
Source: TradingView

Hype (HYPE)

HYPE closed the week 12% higher and reclaimed a price above the key $30 support. As long as the price holds above this level, the bulls have the upper hand, and they may aim to break the resistance at $36 next.

While the momentum is bullish, there is a bit of lag since the price moved above $30. This should not last long since it would encourage sellers to return and put pressure on that support again.

Looking ahead, HYPE needs to break the $36 resistance to maintain a bullish bias in the coming weeks. Hopefully, buying volume will increase to sustain the current move into higher highs.

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hype_price_chart_0503261
Source: TradingView
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Cardano Gets Real-World Checkout Rails in 137 Swiss Spar Stores

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Cardano Gets Real-World Checkout Rails in 137 Swiss Spar Stores

Supermarket giant Spar has enabled ADA payment rails for customers in 137 Swiss stores, as the country moves closer to its global crypto hub ambitions.

Switzerland’s push as a crypto-friendly hub is getting a new retail test case, with Cardano’s ADA token now usable for grocery purchases at Spar stores across the country.

Cardano (ADA) users can start paying for their groceries in 137 Spar supermarkets across Switzerland after the latest Open Crypto Pay integration from Swiss fintech firm DFX.swiss, the Cardano Foundation said Thursday.

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The system is designed to process transactions in real time and allow payments directly from ADA wallets without routing through a centralized exchange. For merchants, Open Crypto pay reduces transaction costs by about two-thirds compared to traditional cards, according to the announcement.

Frederik Gregaard, the CEO of the Swiss-based Cardano Foundation, called the development the “beginning of a fundamental shift in how value moves through society,” which marks the blockchain industry’s transition from an experimental phase to “genuine financial transformation.” 

Source: Cardano Foundation

Spar first rolled out nationwide crypto and stablecoin payments in Switzerland in August 2025 for 100 stores via Binance Pay and DFX.swiss, with plans at the time to extend to 300 stores.

Related: Switzerland delays crypto tax info sharing until 2027

Tether, Lugano commit $6.4 million to global crypto hub ambitions

Separately, on Tuesday, Tether and the city of Lugano committed 5 million Swiss francs ($6.4 million) to a second phase of the city’s Plan B forum between 2026 and 2030, which aims to make Lugano a “global hub for digital asset infrastructure.”

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Lugano has already allowed residents to pay certain municipal fees in Bitcoin (BTC) and USDt (USDT) as part of an effort to embed digital assets into the local economy.