The investment vehicle tied to XRP launched amid other offerings from Grayscale, Bitwise Asset Management and Canary Capital. Asset management company Franklin Templeton launched an exchange-traded fund tracking the XRP token on the NYSE Arca amid regulatory approvals clearing the way for other crypto investment vehicles. On Monday, the Franklin XRP ETF launched on the NYSE Arca under the ticker XRPZ, providing investors with access to the cryptocurrency. Its trading debut coincides with the launch of the Grayscale XRP Trust ETF (GXRP) and follows other similar launches from Bitwise Asset Management and Canary Capital. XRP (XRP) is the native asset of the XRP Ledger, an open-source blockchain developed by Ripple. The cryptocurrency has risen 8.25% over the past 24 hours, according to Cointelegraph Markets data. Read more
One analyst said that Bitcoin’s dip to $80,000 marked the bottom and that there is a 91% chance that the current trend reversal will send BTC price back to $118,000. Bitcoin (BTC) traders are navigating through one of the fastest capitulation events since late 2022, but one market analyst argued that historical data confirms that $80,000 was the bottom. Key takeaways: A Bitcoin analyst assigned a 91% probability that BTC will not see a weekly close below the current lows. Read more
Several analysts claim that Bitcoin bottomed at $80,000 and that the market has been reset. Do BTC and altcoin charts agree or show a different set of facts? Key points: Bitcoin is attempting a recovery from $80,600, which several analysts believe to be a bottom. Several altcoins are struggling to start a rebound, indicating a lack of demand from buyers. Read more
The investment broadens Ondo Finance’s onchain Treasury reserves and comes amid a renewed push into crypto-backed lending across fintechs, lenders and exchanges. Ondo Finance has purchased $25 million of YLDS, the yield-bearing stablecoin issued by Figure Technology Solutions, to diversify the assets backing its tokenized US Treasurys fund. The company said Monday that YLDS will be added to a reserves portfolio that already includes tokenized Treasury products from major asset managers, including funds issued by BlackRock, Fidelity, Franklin Templeton, and WisdomTree. Designed for institutional investors, the Ondo Short-Term US Government Bond Fund (OUSG) offers onchain exposure to Treasurys with 24/7 redemptions and an estimated annual return of 3.68%. The tokenized fund has about $777 million in total value locked (TVL) as of this writing. Read more