Bitcoin’s Potential Return to $90K: Solana ETFs and Other Highlights in Hodler’s Digest, Nov. 17 – 23
Bitcoin may be on the rise again, with some traders speculating it could reach $90,000. Meanwhile, there’s been a flood of regulatory filings for Solana ETFs, just as Gary Gensler announces his upcoming resignation. Let’s dive into the latest news in the world of cryptocurrencies.
Solana ETFs have been making waves recently, with Cboe BZX Exchange submitting four 19b-4 filings for asset managers to list spot Solana exchange-traded funds. This news came on the same day that SEC Chair Gary Gensler confirmed his departure in January. If approved, Bitwise, VanEck, 21Shares, and Canary Capital-issued spot Solana ETFs will be listed on the Cboe BZX Exchange.
Moving on to FTX, the bankruptcy estate is working on reimbursing creditors and former customers, with initial payouts expected to begin in March 2025. The company is aiming to finalize the reimbursement process by January 2025 and is working with distribution agents to streamline this effort.
In a surprise announcement, SEC Chair Gary Gensler revealed his plans to step down on January 20, 2025. This news comes amid speculation about his stance on cryptocurrency regulation and its impact on the industry. Gensler expressed his gratitude for the opportunity to serve Americans and to contribute to the strength of the nation’s capital markets during his tenure.
MicroStrategy has raised $3 billion through senior convertible notes due in December 2029, with plans to use the funds to buy more Bitcoin. Despite a 25% drop in MSTR shares, the company remains committed to its cryptocurrency investment strategy.
Meanwhile, Coinbase CEO Brian Armstrong is set to meet with President-elect Donald Trump to discuss potential personnel appointments. The meeting is part of Trump’s ongoing efforts to select key individuals for his administration. Armstrong, who has not made direct donations to Trump’s campaign, previously expressed willingness to collaborate with the administration on relevant issues.
As for cryptocurrency prices, Bitcoin is currently valued at $98,877, Ether at $3,319, and XRP at $1.47. Stellar, Hedera, and Mantra are among the top altcoin gainers of the week, while Peanut the Squirrel, Goatseus Maximus, and Popcat are the top altcoin losers.
In a rapidly evolving crypto landscape, industry experts emphasize the importance of federal judges and regulatory partners in shaping resolutions. Each week brings new developments and opportunities for growth in the cryptocurrency market. Stay tuned for more updates on the latest trends and insights.
Sources:
– Cboe BZX Exchange
– SEC
– FTX
– MicroStrategy
– Coinbase
– CoinMarketCap
– Cointelegraph
– Wall Street Journal
