BizwavemediaGossip & Lifestyle Online Magazine

Share this article

BlackRock’s iShares Bitcoin Trust (IBIT) saw over $430 million in outflows after markets closed Friday, snapping a week-long inflow streak that had lasted since April 10. It was the ETF’s largest single-day net outflow since launch, according to Farside Investors.

IBIT continues to dominate the global Bitcoin ETF market, despite its recent pullback. The fund has brought in around $48 billion in new capital since launch, with assets under management nearing $70 billion.

Other competing Bitcoin ETFs also posted losses on the final trading day of May.

Fidelity’s FBTC saw outflows of approximately $14 million, Grayscale’s GBTC lost around $16 million, Bitwise’s BITB shed $35 million, and Ark Invest’s ARKB recorded the major outflow at $120 million.

Overall, US-listed spot Bitcoin ETFs lost about $616 million on Friday, continuing their slide after $346 million in outflows on Thursday.

The return of negative ETF flows coincided with renewed selling pressure on Bitcoin. After reaching a weekly high of $110,000, the asset slipped below $105,000 on Thursday, then edged closer to $103,000 by Saturday.

At the time of writing, Bitcoin was hovering around $103,700, per TradingView data.

Share this article

Share this article

Coinbase announced today it will extend its 24/7 futures trading to include XRP and Solana (SOL) contracts starting June 13, aiming to offer US traders compliant access to altcoin derivatives amid shifting regulatory dynamics.

Starting June 13, we’re enabling 24×7 trading for $XRP and Solana ( $SOL ) futures, unlocking real-time access to U.S. traders, reflecting the always-on nature of crypto markets.

— Coinbase Institutional 🛡️ (@CoinbaseInsto) May 29, 2025

The move follows Coinbase Derivatives’ recent activation of 24/7 trading for Bitcoin and Ethereum futures, which made the entity the first CFTC-regulated derivatives exchange to offer round-the-clock access to crypto futures contracts in the US.

Like Bitcoin and Ethereum futures, the upcoming launch of 24/7 XRP and SOL futures trading is expected to address the gap between traditional US trading hours and global crypto markets.

The move also positions Coinbase to capture a large share of global derivatives flow.

According to the firm, derivatives now make up more than 75% of global crypto trading volume. With the new offerings, the firm seeks to tap into that growing demand, giving US traders more tools to stay active in a market that never sleeps.

“The arrival of 24/7 CFTC-regulated markets is a game-changer for the industry,” said Andy Sears, CEO of Coinbase Financial Markets, in a statement.

XRP and Solana futures trade heats up alongside Bitcoin and Ether

Coinbase introduced Solana futures contracts in February, and just launched XRP and nano XRP futures contracts last month. Despite the fresh start, both assets are already showing strong traction.

According to data from the Thursday trading session, nano Solana led all contracts in daily trading volume with over 23,000 contracts, while XRP futures, across both nano and standard sizes, recorded a combined volume exceeding 13,000.

Bitcoin and Ether remain foundational to Coinbase’s derivatives offering, but this early momentum suggests that traders are embracing altcoin derivatives alongside Coinbase’s more established contracts.

Share this article

Share this article

Banco Santander SA, which has recently surpassed UBS to become continental Europe’s largest bank by market capitalization, is in the early stages of exploring a stablecoin launch and expanding retail crypto offerings through its digital banking unit, Bloomberg reported Thursday.

The Santander-backed stablecoin initiative could take the form of either a proprietary token issued by the bank or a platform facilitating access to existing stablecoins. It is expected to be pegged to either the euro or the US dollar.

In Latin American countries grappling with economic volatility, dollar-based stablecoins like USDT and USDC are gaining traction as a hedge against weakening local currencies.

Nations like Argentina, Brazil, and Mexico, where Santander holds a large customer base, are at the forefront of this trend, driven by inflation, devaluation, and the need for efficient remittances.

For retail services, Santander is exploring the rollout through Openbank, its digital banking subsidiary. Openbank has applied for licenses under the EU’s Markets in Crypto-Assets Regulation (MiCA) framework to provide crypto trading services to retail clients.

If approved, the platform could launch as early as this year in markets such as Spain, Germany, Portugal, and the Netherlands.

Santander has demonstrated a strong interest in blockchain technology since the early stages of blockchain development, and that interest has only grown over time. The bank’s venture arm has previously invested in pioneering blockchain startups, including Ripple and Digital Asset Holdings.

Santander was also the first UK bank to utilize blockchain for international retail payments, launching a Ripple-enabled app in 2019 that enabled same-day cross-border transfers for customers in multiple countries.

Most recently, Santander Corporate & Investment Banking (CIB) executed its first EUR intraday repo and a USD term repo on the Digital Financing Application via Kinexys Digital Assets, JPMorgan’s digital asset platform for tokenized financial products.

The move reflects increased momentum among banks to develop regulated stablecoin products, amid legislative progress in both the EU and the US, and a stablecoin market recently exceeding $250 billion, per CoinGecko.

European banks have stepped up digital asset activity since MiCA regulations took effect. Santander’s rival, BBVA, received approval in March to offer retail crypto services in Spain, expanding on its existing operations in Switzerland and Turkey.

Other institutions are also advancing. Société Générale’s crypto unit SG Forge plans to launch a US dollar-backed stablecoin on Ethereum, aiming to become the first global bank to issue a stablecoin on a public blockchain.

Meanwhile, Deutsche Bank’s DWS Group, Flow Traders, and Galaxy Digital have also teamed up to issue a euro-denominated stablecoin.

Share this article

Share this article

Volatility Shares is set to launch the first-ever XRP futures ETF in the US tomorrow, according to a post-effective amendment filed with the SEC on May 21. The launch was confirmed by Bloomberg ETF analyst Eric Balchunas.

The fund, structured as part of the Volatility Shares Trust, will trade on Nasdaq under the ticker XRPI.

In addition to this product, Volatility Shares is also rolling out the Volatility Shares 2X XRP ETF (XRPT), which is designed to deliver twice the daily performance of XRP through leveraged exposure to XRP futures.

With the new offerings, Volatility Shares will join Teucrium Investment Advisors in offering investment products tied to XRP, Ripple’s native asset.

Last month, Teucrium launched the Teucrium 2x Long Daily XRP ETF aiming to offer returns double those of XRP’s daily movements.

According to Balchunas, Teucrium’s leveraged XRP ETF currently manages approximately $120 million in assets and averages $35 million in daily trading volume.

“Good signal that there will be demand for this one,” the expert said.

The fund will invest in cash-settled XRP futures contracts and aims to deliver returns that track the price movements of XRP.

Volatility Shares will serve as the investment adviser and charge a management fee of 1.15%, though expenses are capped at 0.94% through May 2026 due to a fee waiver agreement.

To maintain its regulated investment company status, the fund will invest in XRP futures through a wholly-owned Cayman Islands subsidiary. The fund will invest at least 80% of its assets in XRP-linked instruments, including futures contracts and potentially other derivatives.

This comes as efforts to expand XRP-based investment products continue. ProShares was expected to launch three XRP futures ETFs in late April, but the SEC has yet to approve them. Yesterday, the agency also delayed decisions on proposed spot XRP ETFs from Grayscale and 21Shares.

As ProShares awaits clarity from the SEC, other XRP futures products include Coinbase’s CFTC-regulated XRP contracts, as well as CME’s XRP futures, which debuted on Monday with $19 million in first-day volume, highlighting growing market appetite for XRP exposure.

Ripple, the issuer of XRP, has faced major regulatory hurdles many thought would be resolved by now, but its legal saga remains ongoing.

On May 8, Ripple agreed to a reduced $50 million settlement with the SEC, down from the original $125 million. However, Judge Analisa Torres rejected the joint motion on May 15 due to procedural issues, and the case remains under appeal. At press time, XRP is trading at $2.36, little changed on the day.

Share this article

Share this article

Bitcoin just ended the week with its strongest close in history, settling above $106,000 after a weekend rally, as shown on Binance’s BTC/USDT chart.

The digital asset pushed as high as $107,000 on Sunday, narrowing the gap to its January all-time high of $109,500 to just 2%.

After testing higher levels, Bitcoin eased to around $104,500 at press time. Still, analysts view the pullback as healthy consolidation amid rising institutional flows and tightening market supply, suggesting continued upward momentum in the near term.

Investor appetite for Bitcoin investment products stays robust. US-listed spot Bitcoin ETFs recorded net inflows of $608 million, building on strong momentum from the previous week, per Farside Investors.

BlackRock’s iShares Bitcoin Trust topped the leaderboard, pulling in more than $840 million, more than the combined net inflows of the rest of the market.

“This is not a melt-up—it’s a structurally supported move,” said analysts at Bitfinex in a comment on Bitcoin’s recent breakout. “As long as ETF and institutional flows persist and macro stays stable, dips are likely to be brief and bought aggressively. The path of least resistance remains higher.”

Corporate demand for Bitcoin also remains strong and steady. On Monday, Strategy, the largest corporate holder of BTC, announced the acquisition of an additional 13,390 BTC for approximately $1.3 billion, bringing its total holdings to 568,840 BTC.

The company’s aggressive accumulation strategy continues to set the pace for institutional adoption.

A growing number of new and existing companies have either adopted Bitcoin or announced plans to hold it as a strategic reserve asset, many of whom are expected to continue purchasing BTC in the months ahead.

Meanwhile, the global race among nations to establish sovereign Bitcoin reserves is also anticipated to accelerate, further tightening supply in the years ahead.

According to Matt Hougan, Chief Investment Officer at Bitwise, demand is now considerably outpacing supply. With miners projected to produce just 165,000 BTC this year, public companies and ETFs have already acquired more than that.

Hougan sees this structural imbalance as a key driver that could propel Bitcoin beyond $100,000, with $200,000 as the next major target.

Share this article

Share this article

The Chicago Mercantile Exchange (CME) Group, the world’s leading derivatives marketplace, is expected to launch XRP futures and Micro XRP futures contracts on Monday, May 19, aiming to expand its suite of regulated crypto derivatives to include the fourth-largest digital asset by market capitalization.

The contracts will be available for trading on CME Globex and cleared through CME ClearPort, with access beginning Sunday evening, May 18, for after-hours participants, as noted in CME’s notice.

Each XRP futures contract will represent 50,000 XRP, while the Micro XRP futures will represent 2,500 XRP, both cash-settled based on the CME CF XRP-Dollar Reference Rate. Fees vary by participant type and venue.

CME Group confirmed in April that it plans to launch its first XRP futures contracts, pending regulatory approval, following earlier leaks in January that hinted at the rollout.

“Interest in XRP and its underlying ledger (XRPL) has steadily increased as institutional and retail adoption of the network grows,” said Giovanni Vicioso, Global Head of Cryptocurrency Products at CME Group, in an April statement. “We are pleased to launch these new futures contracts to provide a capital-efficient toolset to support clients’ investment and hedging strategies.”

The XRP products will expand CME’s existing crypto derivatives lineup, which already includes contracts tied to Bitcoin, Ethereum, and Solana. CME just debuted Solana futures in March.

The company’s Q1 crypto derivatives trading saw daily volume climb 141% year-over-year to 198,000 contracts, or $11.3 billion in notional terms, while open interest grew 83% to 251,000 contracts worth $21.8 billion.

The upcoming rollout comes as efforts to settle the SEC’s long-running case against Ripple, the company behind XRP, stall in court.

On Thursday, US District Judge Analisa Torres, the federal judge presiding over the case, denied a joint request by the two parties to approve a settlement that would have reduced Ripple’s civil penalty from $125 million to $50 million.

Calling it procedurally improper, Judge Torres explained that the motion failed to satisfy Rule 60, which only allows relief from a final judgment under exceptional circumstances.

The decision keeps Ripple’s legal challenges alive and casts uncertainty over the timeline for spot XRP ETF approvals, which remain under SEC review.

Still, the introduction of CME XRP futures gives institutional investors regulated exposure to XRP price movements at a time when interest in crypto derivatives is growing.

Last month, Coinbase announced the listing of XRP futures contracts, including standard XRP futures and nano XRP futures, on its regulated derivatives exchange.

The price of XRP has been relatively stable over the past 24 hours at approximately $2.3 per CoinGecko.

Share this article

Share this article

New SEC filings reveal that Abu Dhabi’s Mubadala Investment Company and Citadel Advisors have increased their holdings in BlackRock’s spot Bitcoin ETF, the iShares Bitcoin Trust (IBIT), a sign of sustained institutional interest in crypto-related assets despite recent market volatility.

Mubadala Investment Company, Abu Dhabi’s sovereign wealth fund, increased its holdings in BlackRock’s spot Bitcoin ETF to 8.7 million shares valued at $408 million as of March 31, according to a Thursday filing.

This represents an uptick from the 8.2 million IBIT shares held at the end of last year. However, the total value of the holdings fell from $436 million to $408 million due to a decline in the share price.

Between December 31, 2024, and March 31, 2025, IBIT’s share price dropped from around $54 to approximately $47, according to Yahoo Finance data. The ETF’s shares closed Thursday down slightly at $58.

Citadel Advisors also expanded its IBIT position in Q1 2025. According to a Thursday filing, the firm held over 3 million IBIT shares worth approximately $147 million, up from around 1 million shares in December.

In addition, Citadel Advisors reported holding $676 million in call options and $366 million in put options tied to IBIT.

Mubadala and Citadel Advisors join other major institutional investors, including Goldman Sachs and Avenir Group, in expanding their IBIT exposure. However, not all large holders are increasing their stakes.

The State of Wisconsin Investment Board exited its entire $321 million position in BlackRock’s Bitcoin ETF, according to a recent SEC filing. Despite the divestment, the board still holds crypto-related assets, including nearly $19 million in Coinbase stock.

Millennium Management, previously the largest IBIT holder, on Thursday reported owning about 17.5 million shares as of March 31, valued at approximately $823 million. This is down from the 29.8 million shares worth $1.5 billion disclosed in its February filing.

Millennium’s new filing also revealed options exposure to IBIT, including $11.5 million in call options and $12.5 million in put options.

Millennium remains one of IBIT’s top shareholders. According to the latest data tracked by Fintel, the firm is the second-largest institutional holder, behind Goldman Sachs. Citadel ranks third, followed by other major stakeholders such as Capula Management and D.E. Shaw & Co.

Share this article