The SEC has pushed back decisions on Truth Social’s Bitcoin-Ethereum ETF, Solana products from 21Shares and Bitwise and 21Shares’ Core XRP Trust — all now set for October deadlines. The US Securities and Exchange Commission (SEC) has delayed rulings on three high-profile crypto exchange-traded funds (ETFs), extending review deadlines into October. In notices filed Aug. 18, the agency set new decision dates of Oct. 8 for NYSE Arca’s Truth Social Bitcoin and Ethereum ETF, Oct. 16 for 21Shares’ and Bitwise’s Solana ETFs, and Oct. 19 for the 21Shares Core XRP Trust. The Truth Social Bitcoin and Ethereum ETF, submitted on June 24, is structured as a commodity-based trust holding Bitcoin (BTC) and Ether (ETH) directly and issuing shares backed by those assets. While branded under US President Donald Trump’s Truth Social platform, it functions like other spot Bitcoin and Ether ETFs already on the market. Read more
Gemini’s lead comes after a series of updates, while OpenAI’s ChatGPT and xAI’s Grok have suffered missteps. Bettors on Kalshi, a prediction market, forecast that Google’s Gemini will emerge as the top artificial intelligence text model by the end of 2025. The positions reflect the ongoing developments of Gemini’s competitors as the large language model (LLM) race heats up. Since Tuesday, Gemini has taken a commanding lead with 57% of users betting on the model, up from 48.1% on the previous date. During that same time, OpenAI’s ChatGPT model has fallen to 20% from 25.4%, and xAI’s Grok odds have decreased to 15% from 18.8%. This particular Kalshi prediction scenario will resolve on Dec. 31, with bettors of the winning model receiving their allotted amount. The LM Arena Leaderboard, “an open platform where everyone can [...] access, explore and interact with the world’s leading AI models,” will verify the outcome. Currently, $7.4 million in volume has been seen on this prediction scenario. Read more
Bitcoin derivatives, spot ETFs, top trader positions and stablecoin demand suggest BTC’s correction is near completion. Key takeaways: The Bitcoin options skew and stablecoin activity show fear remains contained, pointing to limited downside pressure. Spot BTC ETF flows and top trader positioning confirm liquidity and resilience, signaling recovery potential above $120K. Read more