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Bloomberg analysts expect Litecoin to lead the next wave of spot crypto ETF approvals, with CoinShares and other major asset managers actively pursuing regulatory clearance for various digital asset funds.

NEW: @EricBalchunas and I took a look at the filings for spot crypto ETFs. We’re putting out relatively high odds of approval across the board. Mainly focused on Litecoin, Solana, XRP, and Dogecoin for now.

Here’s the table with the odds and some other details: pic.twitter.com/xaXaNXLb0M

— James Seyffart (@JSeyff) February 10, 2025

Nasdaq has submitted 19b-4 forms to the SEC for two CoinShares products: a Litecoin ETF and an XRP ETF. The European investment firm’s move comes as it seeks to expand its US market presence.

Bloomberg ETF analysts James Seyffart and Eric Balchunas have evaluated filings for spot crypto ETFs covering Litecoin, Solana, XRP, and Dogecoin.

Litecoin’s regulatory outlook appears particularly favorable, as the CFTC has classified it as a commodity in its KuCoin lawsuit, distinguishing it from assets potentially subject to securities regulations.

The SEC and Commissioner Hester Peirce’s Crypto task force are expected to clarify the security versus commodity status of these digital assets by the end of 2025.

Market sentiment has shifted notably, with Polymarket data showing Litecoin ETF approval odds rising from 42% in January 2025 to above 80% currently.

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BlackRock is poised to expand its crypto product line with the launch of a Bitcoin ETP in Europe, capitalizing on the runaway success of its US-listed spot Bitcoin ETF, the iShares Bitcoin Trust (IBIT), according to a Wednesday report from Bloomberg, citing sources with knowledge of the matter who requested anonymity due to the confidential nature of the plans.

Projected to be based in Switzerland, the planned fund would be BlackRock’s first crypto ETP in the European market. The world’s leading asset manager, which previously focused on North America, launched the IBIT fund and subsequently introduced its iShares Bitcoin ETF on Cboe Canada. The new ETP may debut as soon as this month, sources said.

BlackRock’s IBIT has become one of the largest Bitcoin ETFs since its launch last January, accumulating approximately $58 billion worth of Bitcoin as of February 4. The fund ranks as the 31st largest ETF globally across all categories, including traditional finance products, according to VettaFi.

IBIT has led the spot Bitcoin ETF market with a five-day winning streak, attracting nearly $934 million in net inflows since January 30. Yesterday’s inflows alone totaled approximately $249 million, driving most of the spot Bitcoin ETF market’s gains, according to data from Farside Investors.

The European crypto ETP market currently features more than 160 products tracking various digital assets, though its size remains smaller than the US market. The expansion comes as Bitcoin has reached new highs this year, amid increased regulatory clarity following the EU’s implementation of new crypto rules.

High stakes, uncertain outcome

Bloomberg ETF analyst James Seyffart initially speculated that BlackRock might consider replicating its Canadian Bitcoin ETF structure in Europe using a “wrapper” approach, where the ETF holds shares of its US-listed IBIT. However, he swiftly confirmed that this strategy is unlikely to be allowed under EU regulations.

Sources told him that EU regulators are poised to reject such a workaround, likely requiring BlackRock to launch a standalone European Bitcoin ETF. This necessitates a different approach and puts the spotlight squarely on fees.

“I have been informed that this is unlikely to be allowed in EU. So will be interesting to see what they charge assuming they launch a standalone product. In the US the total cost is 25 bps. Canada is 32 bps,” he wrote on X. “There’s already products at 25 bps and lower in Europe including Valour who has a zero expense ratio product.”

Beyond regulatory hurdles and pricing pressures, BlackRock faces a more fundamental challenge: market size and investor appetite, Eric Balchunas, Seyffart’s fellow Bloomberg ETF analyst, shared in a comment.

The US spot Bitcoin ETF market, despite being just a year old, has exploded in popularity, capturing a staggering 91% of global market share. Europe, by contrast, lags considerably. While European investors are sophisticated, they have historically shown less enthusiasm for the high-octane investment products that have resonated with US investors.

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Ethereum reached a record $38 billion in daily spot trading volume, while Bitcoin logged its third-highest volume at $49 billion, according to David Lawant, Head of Research at FalconX.

Unsurprising but for the record:

ETH hits an all-time high spot volume of $38b yesterday, while BTC notches its third-highest at $49b pic.twitter.com/KiL8H9VPE6

— David Lawant (@dlawant) February 4, 2025

The surge in trading activity coincided with a volatile price movement for Ethereum, which dropped to an intraday low of $2,152 before recovering to $2,919.

Eric Trump, son of the current US president, expressed optimism about Ethereum on social media, stating, “In my opinion, it’s a great time to add $ETH. You can thank me later.”

In this context, the volume spike for both leading crypto assets aligns with broader market dynamics.

While Ethereum set a new all-time high in spot trading volume, Bitcoin’s activity remained below its historical peak.

The chart, tracking trusted spot exchange volumes from 2017 to February 2025, highlights these movements.

Ethereum’s recent surge stands out as it surpasses its previous records, reflecting heightened interest from investors and traders.

Bitcoin’s volume, although substantial, stayed within familiar ranges, suggesting steady demand rather than a major breakout event.

This divergence emphasizes Ethereum’s growing role in the market as a focus of speculative activity during periods of increased volatility.

In November, Ethereum’s onchain volume soared to $7.1 billion amid a market uptick, the highest in 2024, fueled by significant ETF inflows and a US electoral outcome.

Yesterdays Eric Trump’s positive bull-post on Ethereum coincided with World Liberty Finance transferring significant ETH amounts to Coinbase.

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Dubai, UAE, February 4th, 2025, Chainwire

Singularity Finance is reinforcing its position as the go-to blockchain for AI and real-world asset tokenisation through a new partnership with Functionland, a Web3 infrastructure provider operating under the Crestal brand. This collaboration marks the onboarding of Crestal into the SFI ecosystem, in alignment with SFI’s broader vision of integrating advanced AI technology with real-world assets (RWA) and decentralised finance (DeFi).

Integrating Web3 Infrastructure into the SFI Ecosystem

The SFI ecosystem is a collaborative framework designed to support projects building on SFI or offering services that enhance blockchain adoption. Functionland, operating under the Crestal brand, provides a Web3 infrastructure platform that simplifies the process of discovering, designing, and deploying blockchain solutions. As part of the partnership, Crestal will integrate with the SFI ecosystem, allowing developers to leverage its tools to build optimised blockchain architectures from scratch to mainnet deployment.

Strengthening Blockchain Development on SFI

The onboarding of Crestal into the SFI ecosystem aligns with the broader goal of fostering innovation and strategic expansion through direct integration and solution support. The modular “Lego platform” developed by Crestal enables developers to design blockchain applications with increased efficiency and flexibility. By working within the SFI framework, Crestal will contribute to the growth and accessibility of Web3 solutions within the ecosystem.

“Bringing Crestal into the SFI ecosystem is an important step in enhancing the infrastructure available to developers,” said Amaury Dalleur, Head of Incubation at Singularity Finance. “Their expertise in simplifying blockchain deployment aligns with SFI’s mission to provide seamless solutions for decentralised AI and RWA tokenisation. We are excited to collaborate on technology and to see the FULA token launch on the SFI mainnet as part of this partnership.”

Exploring Strategic Growth Opportunities

As an official ecosystem partner, Crestal and SFI will work together to explore mutual opportunities for strategic expansion. This includes potential integrations and collaborative efforts aimed at fostering innovation across Web3 development, AI, and decentralised finance. By leveraging SFI’s compliant RWA tokenisation framework and Crestal’s blockchain infrastructure, the partnership aims to create an environment that supports emerging blockchain applications.

“Singularity Finance provides the ideal ecosystem for Crestal’s blockchain infrastructure to thrive,” said Ehsan Shariati, Founder at Functionland. “We look forward to working together to simplify blockchain development and support the broader adoption of decentralised solutions.”

A Shared Vision for the Future of Web3

The partnership between SFI and Crestal reinforces a shared commitment to driving blockchain adoption through scalable and accessible technology. Both parties will continue exploring ways to support the Web3 community, providing the necessary tools and infrastructure to facilitate long-term growth within the ecosystem.

About Functionland

Functionland, operating under the Crestal brand, is a Web3 infrastructure provider that simplifies blockchain development. It provides a modular platform that enables developers to create, test, and deploy blockchain applications efficiently.

For more information, visit:

Website | X | Telegram | Instagram | Discord | LinkedIn 

About Singularity Finance

Singularity Finance is the first AI-centric EVM-compatible Layer 2 blockchain bringing the AI economy on-chain. It offers a fully compliant RWA tokenisation framework to tokenise and monetise the AI value chain in its entirety. Stemming from the SingularityNET ecosystem and closely tied to the Artificial Superintelligence Alliance, Singularity Finance is poised to become the financial chain for everything AI. 

Learn more at:  https://www.singularityfinance.ai/ 

Contact

Avishay Litani
[email protected]

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Bybit CEO Ben Zhou estimates total crypto liquidations across exchanges could reach between $8 billion and $10 billion. According to Zhou, his platform alone recorded $2.1 billion in liquidations in the last 24 hours, despite Coinglass data showing only $333 million.

In other words, real crypto liquidations across markets could be considerably higher than publicly reported figures. Bybit CEO explained that API limitations on data feeds were the reason behind the discrepancy between reported and actual liquidation figures.

“We have [API] limitations on how much feeds are pushed out per second. From my observation, other exchanges also practice the same to limit liquidation data,” Zhou said.

In response to these reporting gaps, Zhou added that Bybit would begin publishing comprehensive liquidation data.

“Moving forward, Bybit will start to PUSH all liquidation data. We believe in transparency,” he said.

The crypto market reacted sharply, and brutally following Trump’s tariff announcement on Saturday.

Bitcoin fell below $92,000 for the first time since January, while Ethereum and other altcoins recorded double-digit losses. Coinglass data showed over $2 billion in liquidations across crypto derivatives exchanges during the sell-off.

The Crypto Fear and Greed Index dropped from 60 to 44, entering the “fear” zone at its lowest level since October 11.

The President said he would implement a 25% tariff on imports from Canada and Mexico, as well as a 10% tariff on Chinese goods. The measures are scheduled to take effect tomorrow as part of efforts to address border security and combat drug trafficking.

Economists warn that Trump’s new tariffs could worsen inflation, which is still stubbornly below the Fed’s 2% target.

Last week, the central bank decided to leave interest rates unchanged at 4.25% and 4.50%. Fed Chair Jerome Powell indicated that future rate adjustments would be contingent on incoming data, labor market trends, and inflation developments.

Powell had previously indicated that the central bank would assess the impact of Trump’s economic policies to make future rate decisions. Jacob Channel, senior economist at LendingTree, told CBS News that potential changes in economic policies under Trump “might cause a resurgence in inflation or otherwise throw the economy off balance.”

Jeff Park from Bitwise Asset Management, however, suggests Trump’s new tariffs could increase Bitcoin demand as an inflation hedge.

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Let’s dive into this to understand everything related to the best cryptocurrency wallets.

What are Crypto Wallets?

Same as our usual wallets that keep our money, IDs, & ATMs – crypto wallets are used to store cryptocurrencies, digital assets, etc. They are virtual wallets that can keep cryptos safe & secure. More advanced than usual wallets, many crypto wallets can also send, receive, and exchange cryptos.

In today’s cryptographic generation, there are so many crypto exchanges, and almost all of them have their own wallets. So, how would you know which one is best?

Let’s find out and know which are the best cryptocurrency wallets around. But before we proceed further, it’s crucial to understand what makes a crypto wallet best.

What Makes a Crypto Wallet Best?

• Features: The number one point is its features. Features include what services the wallet offers. They must have the following:

1. Crypto Trade or Exchange Facility
2. Dashboard
3. Transaction History

• Security : The Security has to be high.
• Multiple Currency Support: The wallet must support multiple cryptocurrencies.
• Smooth UI: The wallet must be simple & easy to use for the users.
• Speed: The wallet has to be fast & light.
• Mobile Apps & Web Version: The wallet must be available on all the platforms.

The wallet must have the above features to stand out. Below are some of the best crypto wallets:

Best Crypto Wallets

Funex Wallet

Funex mobile wallet allows a user to store, send, and receive cryptocurrencies and digital assets with lightning speed.

The Funex wallet app has the below features:

• Fast & Secure Transactions at just 2-3 Taps
• Easy to Use User Interface & Layout
• Super Smooth Experience
• High-End Security
• Decentralized
• Non-Custodial
• Multiple Cryptocurrency Support
• 24*7 Support
• Live charts & portfolio

Exodus Wallet

Exodus wallet is second in the list as it has the second-highest number of features and other attributes required to be qualified in this list of the top crypto wallets.

With Exodus wallet, a user can:

• Exchange a Large Number of Cryptocurrencies
• Hardware Security for Hardware Wallet
• 24*7 Support
• Built-in Exchange

TRON Wallet

TRON has the common features that every other waller has, but it’s here in this list because of its simple UI. With TRON, users can receive, send, store, and exchange cryptocurrencies.

• Instant Buy & Sell
• Multi-Factor Authentication
• Multi-Chain Support
• Multisignature Feature

Afterthoughts

Clearly, the Funex wallet seems to be the best crypto wallet with the most advanced features & technological benefits. Funex also deals in its own exchange, coin, and gaming segments. It’s an entire world within just one word.

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Bitcoin’s fall to its lowest point since early January caused a massive wave of liquidations across crypto derivatives exchanges, totaling $2 billion. The brutal sell-off followed President Trump’s announcement of new tariffs that sparked inflation concerns, according to Coinglass data.

Trump on Saturday announced plans to impose a 25% tariff on imports from Canada and Mexico, along with a 10% tariff on Chinese goods. The measures, targeting America’s three largest trading partners, will take effect on Tuesday.

The President framed the tariffs as part of a broader strategy to address border security and combat the opioid crisis, particularly fentanyl trafficking.

Economists warn Trump’s new tariffs could increase consumer costs as businesses pass on additional expenses.

While the White House maintains these measures will strengthen American manufacturing, experts caution they could worsen inflation and potentially trigger a trade conflict affecting all nations involved, leading to job losses and supply chain disruptions.

The announcement of these tariffs has triggered volatility in the crypto market as investors reacted to fears of mounting inflationary pressures.

Bitcoin fell below $100,000 on Saturday and continued its decline to $92,000, while Ethereum dropped 24% to $2,300, according to CoinGecko data.

The market turbulence led to $1.7 billion in long position liquidations over 24 hours, with Ethereum traders experiencing $528 million in losses and Bitcoin traders facing $421 million in liquidations, Coinglass data shows.

The overall crypto market capitalization shrank by approximately 8%, with most crypto assets recording double-digit losses within a day. XRP and DOGE fell 30%, ADA declined 35%, while SOL and BNB each dropped 15%.

Trump’s tariffs will send Bitcoin prices higher, faster

Analysts believe that Trump’s new tariffs could lead to increased demand for Bitcoin as a hedge against inflation. Yet, many caution that ongoing market volatility may continue to pressure prices downward in the short term.

According to Jeff Park, head of alpha strategies at Bitwise Asset Management, Trump’s tariff policies could inadvertently set the stage for a Bitcoin boom.

This is the only thing you need to read about tariffs to understand Bitcoin for 2025. This is undoubtedly my highest conviction macro trade for the year: Plaza Accord 2.0 is coming.

Bookmark this and revisit as the financial war unravels sending Bitcoin violently higher. pic.twitter.com/WxMB36Yv8o

— Jeff Park (@dgt10011) February 2, 2025

The implementation of new tariffs could weaken the dollar and create conditions favorable for Bitcoin’s growth, Park suggests. This comes as the US grapples with the Triffin Dilemma, where its role as the global reserve currency requires maintaining trade deficits to provide worldwide liquidity.

The tariffs are viewed as a strategic move to temporarily weaken the dollar, potentially leading to a multilateral agreement similar to “Plaza Accord 2.0” that could reduce dollar dominance and encourage countries to diversify their reserves beyond US Treasuries.

The analyst indicates that the combination of a weaker dollar and lower US rates could create favorable conditions for Bitcoin adoption. As tariffs push inflation higher, affecting both domestic consumers and international trade partners, foreign nations may face currency debasement, potentially driving their citizens toward Bitcoin as an alternative store of value.

Both sides of the trade imbalance will seek refuge in Bitcoin, driving its price “violently higher,” Park said.

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