US spot Bitcoin ETFs recorded four straight weeks of net outflows, with about $360 million withdrawn in the latest week. US President Donald Trump’s media conglomerate, Trump Media & Technology Group, has filed paperwork with the United States Securities and Exchange Commission (SEC) for two new exchange-traded funds (ETFs) linked to major cryptocurrencies. According to a Friday announcement by its Truth Social Funds arm, the company plans to launch the Truth Social Bitcoin (BTC) and Ether (ETH) ETF alongside the Truth Social Cronos (CRO) Yield Maximizer ETF. The filing has not yet taken effect and remains subject to SEC review. “We plan to provide an investment platform for investors covering multiple aspects of digital and crypto investing with both capital appreciation and income opportunities,” Steve Neamtz, president of Yorkville America Equities, which will act as investment adviser for both funds, said. Read more
The total memecoin market capitalization has dropped roughly 34% over the past month as the broader market sold off, but Santiment suggests the slump may not last long. A reversal in memecoins could come sooner than traders expect, even amid choppy conditions across the broader crypto market, if history is any indication, according to crypto sentiment platform Santiment. “There is a growing narrative of "nostalgia" regarding memecoins, with many traders treating the sector as if it is permanently dead,” Santiment said in a report published on Friday. “This collective acceptance of the 'end of the meme era' is a classic capitulation signal,” Santiment said, explaining that when a sector of the market is completely written off, it is often the “contrarian time” to start paying attention. Read more