Market Signal Briefing

21Shares introduces a new Solana spot ETF with a 0.21% fee, expanding investor options amid rising SOL inflows and market momentum.

Izabela Anna2 min read

19 November 2025, 09:08 AM

Solana continues drawing strong institutional attention as another major asset manager moves to join the expanding ecosystem of SOL-linked products. 21Shares is preparing to introduce its sixth spot Solana ETF today after submitting a final prospectus with the U.S. Securities and Exchange Commission. 

The approval appeared on the SEC website shortly after the filing, signaling that the fund is cleared to begin trading. The launch adds further momentum to a month marked by rising inflows, multiple new ETFs, and firm demand across major platforms.

Expanding Lineup of Solana ETFs Gains AttentionThe upcoming product from 21Shares features a 0.21% management fee and arrives only a week after the firm introduced two crypto index ETFs. Those earlier products offered regulated exposure to Bitcoin, Ethereum, Solana, and Dogecoin. Hence, today’s launch strengthens the firm’s presence in the regulated crypto ETF market and broadens investor choice.

Several asset managers have joined the growing lineup. Fidelity launched its FSOL fund yesterday on NYSE Arca with a 0.25% fee and a 15% charge on staking rewards. 

Moreover, Canary Capital introduced the SOLC fund on Nasdaq in collaboration with Marinade Finance. The partners plan to stake all SOL held under normal conditions for at least two years. VanEck recently entered the market as well, starting its VSOL fund with $7.32 million and offering a fee waiver until assets reach $1 billion.

Inflows Extend to a Sixteenth DayInstitutional participation continues to grow alongside new product launches. Data from Farside Investors shows uninterrupted inflows into SOL ETFs for sixteen consecutive sessions. 

Bitwise recorded $388.1 million in flows, while VanEck added $1.8 million. Fidelity posted $2.1 million, and Grayscale captured $28.5 million. Consequently, total inflows reached $421 million with no outflow days reported.

Solana’s spot price reacted with modest strength. The token traded near $140.26 after rising 2.28% in the past day, though it remains lower on the week. Market cap stood near $77.7 billion with trading activity exceeding $6 billion.

Analyst Sees SOL Price Stabilizing Near Monthly LowSource: X

Analyst johnnybtrader noted that Solana recently swept liquidity near $130 and attempted to establish a rounded intraday base. Price now trades around $141 as it seeks a firm reclaim of the range low. A move above $150 could shift momentum toward the mid-range. Moreover, liquidity positioned near $210 continues to attract attention as a programmed upside target.

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Izabela Anna

Izabela Anna is a knowledgeable freelance journalist, who boasts over five years of experience covering the cryptocurrency market. Her tenure has seen her navigate through the ebbs and flows of multiple market cycles, giving her a deep understanding within. Her journalistic focus lies in dissecting price action dynamics, scrutinizing the on-chain landscape, and providing insights from a technical perspective, making her a trusted voice in the realm of cryptocurrency reporting.

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Latest Solana (SOL) News Today

Bitcoin has been under pressure lately, facing more volatility than investors expected. Many companies tied to it have also been hit hard, and Strategy, led by Michael Saylor, is high on that list.

The firm’s stock has faced a notable decline, sparking criticism about its long-term Bitcoin-focused approach. Saylor is now pushing back and offering his own view on why both Bitcoin and Strategy remain stronger than they look. 

Saylor Says Bitcoin’s Volatility Is EasingIn an interview with Fox Business, Saylor shrugged off the panic, noting that Bitcoin has seen 15 major drawdowns over its 15-year history and has consistently recovered to new all-time highs. 

He notes that these dips are normal for a transformative, emerging asset, and they actually help clear out weak hands and leverage, setting the stage for the next upward rally. 

https://twitter.com/saylor/status/1990876469782868240

He notes that when he entered the market in 2020, Bitcoin was extremely volatile – around 80% – which has since dropped to 50%. 

As Bitcoin continues to mature, he says that every few years, its likely to drop by roughly five percentage points. Bitcoin is gradually moving toward being about 1.5 times as volatile as the S&P 500, while still delivering roughly 1.5 times its performance.

Saylor notes that Bitcoin remains the ultimate digital opportunity for a sound money enthusiast. “If you simply want to save your money forever and avoid counterparty risk, Bitcoin is stronger than ever,” he said. 

Saylor Defends Strategy’s Business ModelTurning to Strategy, Saylor defended the company’s aggressive strategy of buying Bitcoin using both equity and credit instruments. He notes that over the past five years, Strategy has grown roughly 70% annually, with Bitcoin up about 50% per year.

He notes that Strategy is the best-capitalized company in the crypto space. 

He argued that as long as Bitcoin goes up 1.25% a year, the company can pay dividends forever and continue to create more shareholder value.

“The company is engineered to take an 80 to 90% drawdown and keep on ticking. So I think we’re pretty indestructible,” he said. “Our leverage is in a level of 10 to 15% going towards zero right now, which is extremely, extremely robust.”

Even in a scenario where Bitcoin stagnates, Saylor notes the company has decades to adapt.

Strategy Expands Bitcoin Holdings Amid Price DropRecently, MSTR bought an additional 8,178 BTC for about $835.6 million. This purchase adds to the company’s massive Bitcoin holdings, bringing its total to 649,870 BTC.

Data from CryptoQuant shows that Strategy bought the BTC at an average price of $102,171, roughly 10% above current market levels. This purchase means that about 40% of the company’s total holdings are now at a loss, while the remaining 60% are profitable.

Its stock continues to face volatility, currently trading at $206.80, down about 50% in the past 6 months. 

Meanwhile, Bitcoin has slightly recovered in the day and is currently trading at $91,688, but is down 11% in the past week. 

Trust with CoinPedia:CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.

Investment Disclaimer:All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.

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Strategy bought 8,178 BTC for $835.6 million as Bitcoin (BTC) tumbled through $90,000, locking in a $102,171 average that now sits underwater.

Harvard Management Co. reported 6.8 million IBIT shares worth $442.9 million in its September 30 13F filing, triple its prior quarter and the endowment’s largest reported US listed equity holding by value.

Both moves landed as funding rates dipped into negative territory, open interest unwound, and short-term holders dumped at realized losses. This profile typically marks redistribution from weak hands to balance sheets with staying power.

The question is whether that redistribution represents accumulation or just institutional knife-catching into a deeper drawdown. Strategy’s aggregate cost basis sits around $74,433, meaning the company’s overall position remains profitable despite the latest tranche going red.

Harvard’s disclosure captures only US-listed public equities and certain ETFs, not the full endowment. Still, the 13F line signals that a $50 billion institutional allocator increased Bitcoin exposure as the price fell.

Those are bets on mean reversion and structural demand, not panic exits.

Short-term holders, wallets that acquired coins in the past 155 days, realized losses in the selloff, a pattern Glassnode flagged as on-chain capitulation.

Retail cohorts tend to dominate this segment, as they buy rallies, lever up near tops, and liquidate when volatility spikes and margin calls arrive.

Funding rates on perpetual swaps turned negative at points during the drop, consistent with long liquidations and deleveraging rather than fresh short bets. Open interest across major venues declined, suggesting position closures rather than aggressive directional trades.

US spot Bitcoin ETFs hemorrhaged $2.57 billion in November through the 17th, the worst monthly drawdown since launch.

Outflows concentrate redemption pressure during US market hours, forcing authorized participants to sell spot or unwind hedges, which mechanically weighs on price.

The timing overlapped with Bitcoin’s break below $90,000, tying institutional rotation out of ETF vehicles to the same window when retail wallets realized losses.

That dual-source selling created the conditions for buyers with longer time horizons to step in at lower clearing prices.

Accumulation thesisGlassnode’s data showed that wallets holding over 1,000 BTC added coins as smaller cohorts exited. The interpretation has limits, as wallet heuristics rely on clustering algorithms and labeled addresses rather than KYC identities, and positions shift quickly.

However, the net flow from short-term holders to long-term holder cohorts aligns with early-cycle redistribution patterns observed in prior drawdowns.

Onchain Lens and Lookonchain flagged wallets linked to the LIBRA saga buying Solana on dips, and a labeled “Anti-CZ whale” flipping long on Ethereum while holding large XRP exposure.

These are traceable moves, but the labels themselves rest on blockchain forensics and exchange-tag associations rather than verified counterparty disclosures.

They offer directional signals, consisting of smart money wallets adding altcoin exposure during volatility, but the thesis can reverse with the next funding print or liquidation cascade.

CryptoQuant’s CEO, Ki Young Ju, argued that whales exited Bitcoin futures. At the same time, retail held the bulk of open interest, a claim supported by venue-level data showing a trend of deleveraging.

Open interest fell and funding turned negative, consistent with long unwinds rather than whale exits per se. Attributing the move to specific cohorts requires extrapolating from aggregated position data that lacks real-time granularity.

The broader point holds: derivatives markets deleveraged as spot buyers absorbed supply, a dynamic that can precede either a reversal or a continuation of the downtrend, depending on whether spot demand persists.

Bull-trap counterargumentSpot Bitcoin ETF outflows removed structural demand that had absorbed miner issuance, tightening circulating supply through most of 2024 and early 2025.

Retirement accounts, RIAs, and wirehouse platforms funnel fiat-native capital into Bitcoin via ETFs. When those flows reverse, they pull a steady bid out of the market precisely as price weakens.

Strategy’s $835 million purchase and Harvard’s IBIT allocation represent meaningful size, but they don’t offset $2.57 billion in ETF redemptions if that trend continues into December.

Short-term holder capitulation and whale accumulation describe what happened during the drop, not what happens next. If ETF outflows persist and macro risk escalates, the clearing price can fall further even as sovereigns, corporates, and endowments add exposure.

Early-cycle accumulation and a bull trap can look identical in real time. The difference emerges over weeks as either durable demand stabilizes the price or another leg down proves the buyers wrong.

Strategy’s latest tranche is underwater, averaging $102,171, and estimates suggest roughly 40% of the company’s total holdings trade below cost. However, that figure isn’t documented in the filing and should be treated as attributed commentary rather than a disclosed fact.

The company’s aggregate profitability depends on Bitcoin recovering above $74,433 and holding there. If it doesn’t, the accumulation thesis becomes a case study in timing risk.

What decides the outcomeThe 13F snapshots and on-chain wallet labels have scope limits. Harvard’s filing captures only US public equities and certain ETFs, not private positions, offshore allocations, or the full endowment strategy.

Whale wallet clusters rely on address grouping and exchange tags that can misattribute activity or miss custodial flows. But the directional read that sovereigns, corporates, and endowments absorbed float while short-term holders realized losses fits redistribution if spot demand continues and ETF outflows stabilize.

If ETF redemptions extend into year-end and macro conditions deteriorate, the buyers who stepped in at $90,000 will test their conviction lower.

Strategy can average down indefinitely given its capital-raising playbook, and Harvard operates on decade-long time horizons that make quarterly drawdowns irrelevant.

Retail cohorts and levered traders lack that luxury, which means the next move depends on whether institutional spot demand offsets ETF outflows and whether derivatives funding stabilizes or tips back into negative territory.

The crash to $90,000 clarified who holds through volatility and who exits at the first sign of trouble. Whether that redistribution marks a bottom or just a pause depends on flows over the next month, not wallet snapshots from the last week.

Mentioned in this article

Introduction
Ethereum remains the number 2 crypto by market cap, and the recently implemented upgrades have helped to keep prior Ethereum price predictions in place. The discussion below highlights the importance of these upgrades and their expected market impact on Ethereum price predictions, amid the mid-November 2025 crypto market selloff.

Section 1: Core Concept and Current Market Context
Ethereum’s upgrades are critical to its survival and ability to stay ahead of competing blockchains like Solana.

Ethereum is now 11 years old as of writing. The earlier versions may have wowed, but the demands the newer smart contracts placed on the network exposed three significant issues: cost, network congestion, and user-friendliness. Competitors entered the space with lower gas fees, faster speeds, even during overload, and easier usage. Ethereum had to adapt or risk becoming a relic of the smart contract age.

How has Ethereum Improved?

Adaptation has been achieved through several upgrades over the last three years. The most recent was the Pectra upgrade in May 2025, performed to improve efficiency, lower gas fees, and enhance the overall UX. December 2025’s upcoming Fusaka hard fork is expected to build on Pectra’s gains, raising the block gas limit from 45M to 150M. Other changes will introduce the Verkle and PeerDAS trees to enable more transactions per block at lower gas fees.

Section 2: Data Analysis and Evidence
The previous section mentioned Ethereum’s performance deficits. How have recent upgrades improved the situation?

a) Impact of Upgrades on Gas Fees

A 37-53% post-pectra drop in mainnet gas fees has been an immediate impact of this upgrade. This fee reduction was felt even more by Layer-2 protocols, with fees dropping by as much as 70% post-pectra. This radical drop in L2 gas fees is a consolidation of the gains of the earlier Dencun upgrade, which led to a 90-98% gas fee reduction in some instances through improvements in data storage.

b) Impact on User Adoption of Ethereum’s L2

The Dencun upgrade introduced blobs, a cheaper way for L2 networks on Ethereum to store data. Data storage accounts for 95% of the gas fees on Ethereum. One of the earlier problems that made gas fees so high was the inefficiency in the data transmission and storage systems on the Ethereum blockchain.

By introducing blobs via the EIP-4844 proto-danksharding, this temporary system of data storage and the addition of extra storage space on Ethereum made the process more efficient, thereby reducing costs. Pectra built on this, and the data shows an overall increase in L2 user adoption. Blob usage has risen from 21K to 28K, and 60% of all DeFi transactions on Ethereum are now occurring on layer-2, directly attributable to increased blob availability and lower costs.

The overall impact of the Dencun and Pectra upgrades, intended to shift transactional activity to L2 while keeping L1 open as the settlement layer, has been largely achieved.

c) Impact on Staking and Validation

The lowering of gas fees has come at a trade-off: lower fees mean reduced revenue per transaction. However, Ethereum aims to offset the negative impact on its revenue stream from lower costs by increasing platform usage for traditional blockchain and DeFi activities. Staking and validation are two areas where growth buildup could help offset the revenue drop from lower gas fees.

What do the numbers say?

To reduce operational overheads for large-scale validators, the Pectra upgrade increased the maximum effective validator balance from 32 ETH to 2,048 ETH. Despite active validators reducing by 16,000 and the merger of more than 11,000 validators, total staked Ethereum actually rose to 36.8M ETH. Staked Ethereum now constitutes 30% of Ethereum’s total supply as of end-Q3 2025.

The data indicates that Ethereum remains on a path to long-term sustainability.

d) Impact on Ethereum Price and DeFi

Ethereum sold off sharply at the start of 2025. However, a strong 3rd-quarter rally of more than 70% followed, driven mainly by the positive reception of the Pectra upgrade’s impact in Q2 2025 in investment circles. Ethereum also posted the most significant quarterly increase in total value locked (TVL) since early 2024, rising to $115 billion by the end of Q3 2025.

Section 3: Comparative Scenarios
What are the possible outcomes when it comes to Ethereum’s price prediction pathways?
Scenario A: Conditions under which the trend continues -> Long term, Ethereum is now in the midst of a multi-year consolidation after the uptrend paused in 2021. The consolidation range is large, extending from the November 2022 low at 1081 to the August 2025 high at 4957. There are several intervening support and resistance areas. The bull case for Ethereum becomes feasible on a break of the 2025 high, which lies just above the December 2021 high at 4936.

Scenario B: Conditions that would cause a reversal -> A reversal has to follow a breakdown of the 1081 low of Nov 2022, which would expose some of the support levels seen in 2020.
If the bull case or bear case parameters are not met, then price will continue to range trade between the price borders defined. Traders would have to navigate the minor support and resistance levels found within this price range.

Section 4: Broader Implications
Ethereum is one of those crypto assets whose value remains in its long-term viability. It is best suited for investors who want long-term value without having to navigate the mine-laden environment of short-term outlooks. Typically, retail investors panic during short-term selloffs, such as the one seen on November 16-18, 2025. But these price drops are usually absorbed by discerning investors, who see them as cheaper opportunities to tap into Ethereum’s long-term value.

The crypto market tends to see massive demand in a risk-on environment. You are unlikely to see significant shifts from other markets in the absence of global, systemic price shocks. For Ethereum, follow the upgrades and follow the long-term value proposition that L2 brings to the table.

Section 5: Expert Insight
Traders with a short-to medium-term outlook can focus on the weekly chart and trade around the identified support and resistance levels within the context of the current long-term consolidation.

Figure 2: Weekly chart of ETHUSDT showing support and resistance levels (snapshot taken on November 18, 2025)
Rejection wicks at the 2932 support (50% Fibonacci retracement) followed by a closing penetration above 3993 indicates mid-range defence and a new potential to re-attack the all-time high at 4957. A new high point to long-term continuation, with the Fibonacci extension at 27% pointing towards 5765 as the next long-term target. This scenario is the bull case.

A bear case scenario follows if the bulls fail to defend 2480 (61.8% Fibonacci retracement level). This exposes the 2167 downside target (70.5% Fibonacci retracement and Jan 2024/June 2025 lows). If this level fails, it is hard to rule out a deeper correction to the October 2023 low at 1554.

Disclaimer: This is for educational purposes only and is not investment advice or an invitation to buy or sell at any of the price levels above.

Section 6: References and Sources
Alchemy. (2025, May 7). What is the Ethereum Pectra upgrade? Dev guide to 11 EIPs. Alchemy. https://www.alchemy.com/blog/ethereum-pectra-upgrade-dev-guide-to-11-eips

Consensys. (2025, May 7). Ethereum Pectra upgrade: Everything you need to know. Consensys. https://consensys.io/ethereum-pectra-upgrade

QuickNode. (2025, October 14). Ethereum Fusaka upgrade: What you need to know. QuickNode Blog. https://blog.quicknode.com/ethereum-fusaka-upgrade-what-you-need-to-know

Coin Metrics. (2025, May 27). The after-effects of Ethereum’s Pectra upgrade (State of the Network). Coin Metrics. https://coinmetrics.io/state-of-the-network/the-after-effects-of-ethereums-pectra-upgrade/

Coin Metrics. (2025, September 23). Ethereum update: Can further scaling return value to ETH? (State of the Network). Coin Metrics. https://coinmetrics.io/state-of-the-network/analyst-update-ethereum-september-2025/

Galaxy Digital Research. (2025, May 15). Ethereum blob market post-Pectra: Cost collapse, capacity unlocked. Galaxy. https://www.galaxy.com/insights/research/ethereum-blob-market-post-pectra

Blockworks. (2025, September 12). Ethereum’s paradox: Usage at all-time highs as fees plummet. Blockworks. https://blockworks.co/news/ethereums-paradox-usage-at-all-time-highs-as-fees-plummet

This article was originally published on InvestingCube.com. Republishing without permission is prohibited.

XRP is facing growing downside pressure as on-chain data signals a potential breakdown below the crucial $2 psychological threshold.

The token has seen bearish sentiment in line with broader cryptocurrency market trends.

According to insights from crypto analyst Ali Martinez, if bulls fail to defend current support levels, XRP could retrace significantly amid weakening momentum.

In an X post on November 29, Martinez based his outlook on the latest UTXO Realized Price Distribution (URPD) data from Glassnode, which shows that XRP is now trading in a zone with thinning buyer support, increasing the risk of a deeper pullback.

XRP UTXO chart. Source: Glassnode
The data highlighted a dense concentration of previously realized prices around the $2.15 region, a level XRP recently slipped below, suggesting many traders may now be sitting on unrealized losses that could accelerate selling.

If XRP continues to struggle beneath $2.15, the next major support zones identified by on-chain signals sit at $1.91 and $1.73. These areas reflect strong historical activity and could act as stabilizing levels if downward pressure intensifies.

Long term investors signal more XRP collapse 
Another concerning factor for XRP is the behavior of long-term holders. Data shared by Martinez suggested a significant shift in sentiment among this cohort.

Metrics from Glassnode’s Long-Term Holder Net Unrealized Profit/Loss (NUPL) indicate a transition from earlier phases of euphoria and denial to rising anxiety as the market price approaches the critical $2 threshold.

XRP long-term holder NUPL. Source: Glassnode
Throughout 2025, long-term holders have mirrored overall market volatility, with sentiment rising and falling alongside price swings. The latest downturn, however, points to weakening confidence among investors typically viewed as XRP’s most stable base.

A drop below $2 would deepen this anxiety phase and signal a broader reassessment of XRP’s long-term value.

While NUPL doesn’t forecast price movements, its psychological framing helps explain investor behavior. The current shift underscores growing pressure on XRP as the market waits for clearer direction.

XRP price analysis
By press time, XRP was trading at $2.15, down about 1.6% in the past 24 hours and roughly 11% on the week.

XRP seven-day price chart. Source: Finbold
XRP also hovers below its 50-day SMA at $2.55 and 200-day SMA at $2.60, signaling short-term weakness as the asset remains under key moving averages that now act as dynamic resistance.

This setup suggests ongoing downward pressure, with the price needing to reclaim the 50-day SMA to hint at a bullish reversal.

Meanwhile, the 14-day RSI at 38.73 remains in neutral territory, neither oversold (below 30) nor overbought (above 70), indicating stabilized momentum without signs of immediate exhaustion.

Featured image via Shutterstock

Forward Industries — the largest corporate holder of Solana (SOL) — has transferred more than $200 million worth of SOL to Coinbase Prime, sparking intense debate across the crypto market about whether the firm is preparing to sell part of its position. The transfer comes at a time when Solana has fallen sharply, placing Forward Industries under hundreds of millions of dollars in unrealized losses.

The cryptocurrency market remained weak on Wednesday, as Bitcoin continued to struggle around $90,000. Altcoins display mixed performances after the latest crash violated key price levels. This article evaluates Injective's price outlook as the interoperable layer 1 network braces for tomorrow's community buyback.

The momentum behind Solana-based ETFs is accelerating as 21Shares prepares to launch its newest spot Solana ETF today, following its final prospectus filing with the U.S. SEC. With Cboe already approving the fund’s listing and registration, the product is now cleared for trading, making it the sixth spot SOL ETF to debut in the U.S. market. The fund carries a competitive management fee of 0.21%, adding another regulated entry point for institutional exposure to Solana.

A Crowded Field of New SOL ETF EntrantsThis development comes on the heels of a flurry of Solana-related ETF launches. Just yesterday, Fidelity introduced its own spot Solana fund, FSOL, on NYSE Arca. The fund charges a 0.25% management fee and includes a 15% fee on staking rewards, instantly making Fidelity the largest asset manager offering a SOL ETF. Canary Capital also entered the arena with its Canary Marinade Solana ETF (SOLC), which stakes 100% of its holdings via Marinade Finance, its exclusive staking partner for the next two years. Meanwhile, VanEck launched its VSOL fund on November 17, opening with $7.32 million in assets and offering zero fees until the fund reaches $1 billion.

21Shares itself recently introduced two crypto index ETFs under the Investment Company Act of 1940, giving investors diversified exposure to assets like Bitcoin, Ethereum, Solana, and Dogecoin. The company’s rapid expansion of crypto products reinforces growing institutional trust in Solana’s long-term fundamentals.

SOL ETF Inflows Hold Strong Despite Market DipInterestingly, investor demand for Solana ETFs remains strong even as SOL’s price has weakened. On November 18, Solana ETFs recorded $26.2 million in net inflows, their 15th straight day of positive flow. Bitwise’s BSOL dominated with $23 million in inflows, a sharp contrast to Bitcoin and Ethereum spot ETFs, which recorded new rounds of outflows.

This consistent demand suggests that institutional investors view Solana as a high-conviction long-term play, even amid short-term volatility. Solana’s token price has dropped over 10% in the past week, yet inflows continue to accelerate, signaling rising confidence in the network’s staking yields, transaction speed, and expanding ecosystem.

A Strengthening Institutional NarrativeWith 21Shares expected to go live today, the U.S. market will now host six actively traded Solana spot ETFs, each offering different staking strategies, fee structures, and exposure models. The wave of launches underscores a broader trend: despite price pressure across the crypto market, Solana is quickly becoming one of the most in-demand institutional crypto assets.

Never Miss a Beat in the Crypto World!Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more.

FAQsHow can I buy a Solana ETF?

You can buy a Solana ETF through any brokerage account by searching the fund’s ticker and placing a standard buy order.

Where can I trade Solana ETFs?

Solana ETFs trade on major U.S. exchanges like Cboe and NYSE Arca, accessible through most online brokers.

Will Solana ETFs impact SOL’s price?

Strong ETF inflows can boost long-term demand, but SOL’s price also depends on market conditions and network usage.

Why are investors choosing Solana ETFs?

They offer regulated, simple exposure to Solana’s ecosystem without needing a crypto wallet or direct token management.

Are Solana ETFs a good investment?

Solana ETFs offer regulated exposure to SOL’s potential. Strong institutional inflows suggest long-term confidence in its technology, but like all crypto, it carries volatility risk.

Which company has the cheapest Solana ETF?

The 21Shares Solana ETF has the lowest fee at 0.21%. VanEck’s VSOL fund is currently the cheapest, offering zero fees until it reaches $1 billion in assets.

Trust with CoinPedia:CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.

Investment Disclaimer:All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.

Sponsored and Advertisements:Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.

Journalist

Posted: November 19, 2025

Key Takeaways
Why is Solana facing continued downside pressure? 
Forward Industries’ $201 million SOL transfer and technical breakdown below $155 has intensified bearish momentum.

What signals a potential shift in market sentiment for SOL? 
Rising accumulation and leveraged positions near $128.9 and $140.5 suggest traders are preparing for a rebound.

Solana [SOL], the world’s sixth-largest cryptocurrency by market cap, is poised to continue its prolonged downside momentum. 

Over the past two months, SOL has been in a downtrend, losing nearly 50% of its value. Recent activity by the Solana Digital Asset Treasury (DAT) firm Forward Industries has further strengthened the asset’s bearish momentum.

Forward Industries dumped $201M of SOL 
According to the analytics platform Onchain Lens, Forward Industries, the largest holder of SOL, has sent over 1.44 million tokens worth $201 million to Coinbase Prime, raising concerns of a potential price crash.

Source: X/OnchainLens

According to the report, Forward Industries began acquiring SOL through a PIPE (Private Investment in Public Equity) deal and has since executed transactions totaling $1.65 billion. As of now, the firm holds 6.9 million SOL, about 1.119% of the total supply.

In a recent statement, the team said,

“We remain focused on our goal of increasing SOL per share.”

It remains unclear whether the recent $201 million transfer was an actual sell-off or a routine transaction. Nonetheless, the move had a noticeable impact on SOL’s price, which has since shown signs of recovery.

SOL’s price momentum 
According to CoinMarketCap data, SOL was trading at $137.90, experiencing a 2.95% decline over the past 24 hours, but it also reached a low of $128 following a $201 million SOL deposit.

At the time of writing, investor and trader interest in the asset was strong, as reflected by a 79% surge in trading volume to $9.35 billion.

AMBCrypto’s technical analysis reveals that SOL is in a downtrend and is poised to continue in the coming days.

On the daily chart, the asset has broken down a key support level at $155, followed by a small consolidation, which partially confirms the downside move.

Source: Trading View

Based on current price action, if SOL remains below the consolidation zone, it could see another price dip of 16%, potentially reaching the $120 level.

However, this downtrend could only end if SOL reclaims the $160 level. If it does, there is a high probability that SOL could continue its uptrend.

SOL’s Chaikin Money Flow (CMF) value reached -0.18, indicating sustained selling pressure and weak capital inflows, as sellers continue to dominate the market.

Meanwhile, the Supertrend indicator remained in the red above the asset’s price, signaling that SOL is in a downtrend with strong selling pressure.

Derivative tool reveals shift in market sentiment 
Amid market uncertainty, investors and traders appear to be taking advantage of the current sentiment by accumulating SOL and placing bets at lower prices.

According to the derivatives tool CoinGlass, exchanges across the crypto landscape have recorded an outflow of $39 million worth of SOL over the past 48 hours, indicating potential accumulation.

Source: CoinGlass

The derivatives tool CoinGlass reveals that SOL has two key levels where traders are over-leveraged: $128.9 on the lower side and $140.5 on the upper side.

At these levels, traders have built $298.39 million worth of long positions and $134.46 million worth of short positions, indicating a shift in market sentiment.

9h05 ▪
4
min read ▪ by
Luc Jose A.

Summarize this article with:

Behind the apparent rise of XRP, the technical signals turn red. While Ripple’s crypto shows a sustained price, the on-chain data reveal a worrying fragility : a large share of recent investors are at a loss, exposing the market to potentially explosive selling pressure.

In brief

XRP shows a high price (around $2.15), but 41.5 % of the circulating supply is at an unrealized loss.
Only 58.5 % of tokens are currently in profit, a historically low level since November 2024.
The majority of holders at a loss are recent investors who entered during speculative rally phases.
If the current support breaks, the price could plunge towards the $1.70–$1.80 area, according to analysts.

A majority of investors at a loss
While the price did not explode after the ETF launch, only 58.5 % of XRP’s circulating supply is currently in profit according to the latest data published by Glassnode, marking an unprecedented low since November 2024.

At that time, the crypto was trading around $0.53, far from the current $2.15. This paradox reveals an atypical situation. Despite a price nearly four times higher, 41.5 % of XRP in circulation (around 26.5 billion tokens) are held at a loss.

This uneven distribution reveals a critical structural problem, in a market where the majority of buyers arrived late, often during rally phases.

This phenomenon reflects the presence of an “upwardly unbalanced” market, dominated by investors who bought at too high levels. Thus, these investors, now at an unrealized loss, are particularly vulnerable to price drops. Moreover, this imbalance increases the risk of massive selling, especially during panic phases. The following elements help to better understand the current fragility of XRP :

A large part of the supply is at a loss despite a high price : 41.5 % of circulating tokens, about 26.5 billion XRP ;

Recent buyers highly exposed : those who entered after the ETF announcement or during the recent bullish impulse are now the most affected ;

A short-term speculative dynamic : the previous rally was fueled by opportunistic flows, not by fundamental signals or sustained adoption ;

Increased risk of capitulation : historically, such a concentration of losses favors phases of brutal, cascading liquidation if the downward trend intensifies.

At this point, the XRP market no longer rests on solid foundations, but on an unstable structure where the slightest uncertainty can trigger a chain reaction. The growing weight of holders at a loss could become a determining factor in the short-term price evolution.

Fragile technical signals and increased macroeconomic pressure
Alongside this internal pressure on the XRP market, current technical signals confirm an established bearish momentum.

XRP has been trending clearly downward since early October, as the crypto now trades below its 50, 100, and 200-day moving averages. Worse, these curves are bending downwards, which typically indicates deteriorating momentum.

The chart also shows that every rebound attempt since September has failed to break the $2.50 to $2.60 resistance zone. This setup suggests increasing bullish weakness, reinforced by exploding selling volumes during corrections.

Added to this is a macroeconomic context unfavorable to risky assets like XRP. Indeed, global markets are adjusting to increased rate volatility, persistent geopolitical tensions, and a global withdrawal of dollar liquidity. In other words, institutional investors are reducing their exposure to cryptos in an environment perceived as uncertain, even hostile.

The combination of these factors creates a slippery slope. If XRP were to break its current support around $2.15, the next liquidity pocket lies between $1.70 and $1.80, a level aggressively defended by buyers earlier this year.

Despite growing institutional enthusiasm, the XRP price remains trapped in a fragile dynamic, between massive sell-offs and holders at a loss. This imbalance creates uncertainties about the market’s ability to regain a stable trajectory in the coming weeks.

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Diplômé de Sciences Po Toulouse et titulaire d'une certification consultant blockchain délivrée par Alyra, j'ai rejoint l'aventure Cointribune en 2019.
Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l'économie, j'ai pris l'engagement de sensibiliser et d'informer le grand public sur cet écosystème en constante évolution. Mon objectif est de permettre à chacun de mieux comprendre la blockchain et de saisir les opportunités qu'elle offre. Je m'efforce chaque jour de fournir une analyse objective de l'actualité, de décrypter les tendances du marché, de relayer les dernières innovations technologiques et de mettre en perspective les enjeux économiques et sociétaux de cette révolution en marche.

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Bitcoin's Composite Index has dropped to 0.72, signaling a deeper correction and raising the risk of a fall toward $87,500.

BlackRock's bitcoin ETF posts record-setting outflows worth $523 millionMarkets
• November 19, 2025, 3:17AM EST

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Quick Take
BlackRock’s IBIT recorded its largest-ever net outflows on Tuesday as institutions recalibrated their portfolios.
Meanwhile, spot Solana ETFs extended their positive flow streak to 16 days, accumulating $420 million in inflows.
BlackRock's iShares Bitcoin Trust (IBIT) on Tuesday reported its largest daily net outflow since its January 2024 debut.

According to SoSoValue data, IBIT saw $523.15 million leave the ETF yesterday, surpassing the previous record of $463 million outflows set on Nov. 14. The ETF has now logged five straight days of net outflows, totaling $1.43 billion.

IBIT — the world's largest spot bitcoin ETF with $72.76 billion in net assets — has experienced a negative flow trend since late October. On a weekly basis, the fund has posted four straight weeks of net outflows, totaling $2.19 billion.

The outflows coincided with bitcoin's recent slide, which saw the crypto fall below $90,000 earlier this week from an all-time high of $126,080 reached in early October. Bitcoin is up 1.6% in the past 24 hours to change hands at $91,849, according to The Block's bitcoin price page.

Despite the recent outflows, Vincent Liu, CIO at Kronos Research, said institutional investors are rebalancing their investments rather than abandoning bitcoin entirely.

"Record-high IBIT outflows signal institutional recalibration, not capitulation," Liu said. "Big allocators are trimming risk, tightening exposure, and testing entry points until macro signals turn clear. When they do, risk-on appetite and allocation will quickly return."

Bitcoin and the broader crypto market have been suffering from reduced liquidity as a result of the extended U.S. government shutdown and uncertainty over the Federal Reserve's interest rate decision expected in December.

Analysts have previously said that liquidity may return to the market slowly as the U.S. government reopens, while the rate cut decision remains the most significant market event heading into year-end. The CME Group's FedWatch Tool currently gives a 48.9% chance that the Fed would cut rates by 25 basis points next month.

IBIT's $523 million outflows on Tuesday outweighed inflows into Grayscale's and Franklin Templeton's funds, resulting in a daily net outflow of $372.7 million for all spot BTC ETFs for the day.

Spot Ethereum ETFs showed a similar pattern. BlackRock's ETHA recorded $165 million in net outflows, outweighing the combined $91 million in inflows across funds from Grayscale, Bitwise, VanEck and Franklin Templeton.

Solana ETFs Meanwhile, Tuesday saw the debut of two new Solana ETFs, one from Fidelity (FSOL) and the other from Canary Capital (SOLC). FSOL saw $2.07 million in inflows on its first day, while SOLC reported zero flows.

Bitwise's BSOL, the first spot Solana ETF in the U.S., posted $23 million in inflows, while Grayscale's GSOL had $3.19 million.

Since BSOL launched on Oct. 28, the Solana ETFs as a whole have recorded 16 straight days of net inflows, accumulating $420.4 million in total net inflows.

"Solana ETF 16 day streak of inflows signal altcoins drawing allocators, delivering yield, and gaining traction," Liu said. "One of the freshest, shiniest ETFs around, it bundles staking rewards with exposure, making it easier to capture capital from a variety of investors."

Canary's spot XRP ETF experienced $8.32 million in net inflows yesterday, while its Litecoin ETF and Hedera ETF posted zero flows. 

Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.

© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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AUTHOR Danny Park is an East Asia reporter at The Block writing on topics including Web3 developments and crypto regulations in the region. He was formerly a reporter at Forkast.News, where he actively covered the downfall of Terra-Luna and FTX. Based in Seoul, Danny has previously produced written and video content for media companies in Korea, Hong Kong and China. He holds a Bachelor of Journalism and Business Marketing from the University of Hong Kong. See More

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Wed, 19/11/2025 - 8:29

Retail panic deepens as XRP, BTC and ETH sell-off accelerates, with short-term holders dumping into loss, a setup that often signals the crypto market is running out of sellers.

Cover image via U.Today

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

New on-chain data from Santiment suggests that the latest wave of selling across Bitcoin, Ethereum and XRP looks less like the start of a new collapse and more like a fatigue event from smaller market participants. 

It is not about big funds unloading in the background, as the pressure now comes from short-term holders and retail wallets that finally stopped trying to sit through another leg down.

According to Santment's recent data, wallets holding less than 0.01 BTC reduced their balances by about 0.36% over the past five days, while sub-0.1 ETH wallets cut roughly 0.9% in a month, and XRP wallets with under 100 coins offloaded 1.38% since the beginning of November. 

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Source: SantimentThese numbers are not enormous on their own, but they describe the same pattern: smaller holders are the ones that are actively sending coins to the market.

Retail panic on crypto marketThis thesis is backed by CryptoQuant's numbers too, with around 65,200 BTC being sent to exchanges in unrealized loss over a single day, a volume worth close to $6 billion at current prices. This indicator does not track completed trades, but it shows how much Bitcoin short-term holders move onto exchanges while still underwater. 

In practice, such spikes usually mean that part of this supply is already sold, while the rest is waiting in line on the order books.

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Historically, this group tends to act late. They sell after weeks of frustration, not at the first sign of weakness. Once they have pushed most of their coins onto exchanges, additional downside usually requires a new source of supply. 

If that source does not appear, the price often stabilizes and then recovers simply because the most impatient cohort has already exited. From that angle, the current mix of heavy STH transfers and synchronized retail selling across XRP, Bitcoin and Ethereum can be read as an early sign that the sell side is running out of energy rather than gaining it.

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Key NotesSolana ETFs have recorded back-to-back inflows since Oct.31.New SOL-related investment products have entered the market.Bitcoin and Ethereum ETFs saw over $3 billion in outflows over the last five trading days.
Solana

SOL
$140.6

24h volatility:
2.7%

Market cap:
$77.76 B

Vol. 24h:
$6.08 B

is seeing growing interest from institutional investors while the leading assets — Bitcoin

BTC
$91 846

24h volatility:
1.2%

Market cap:
$1.83 T

Vol. 24h:
$79.61 B

and Ethereum

ETH
$3 095

24h volatility:
2.1%

Market cap:
$371.75 B

Vol. 24h:
$32.27 B

— see strong outflows.

The US-based spot SOL exchange-traded funds recorded consecutive inflows since their launch on Oct. 31, according to data from Farside. Most of the inflows came from Bitwise’s BSOL, which had a seed investment of $222.9 million and is now at $388.1 million.

Data shows that the total net inflow into SOL-based ETFs has reached $421 million over the course of 13 trading days.

The most recent Solana-related investment products were launched by VanEck and Fidelity, two well-known asset management firms.

VanEck launched VSOL on Nov. 17, and Fidelity’s FSOL entered the market a day later, Coinspeaker reported.

Solana gained momentum over the past 24 hours, rising 2.4% to $139.5.

Beating Bitcoin and Ethereum
Bitcoin- and Ethereum-based ETFs were soon affected by outflows at launch in January and July 2024, respectively.

BTC ETFs recorded their first outflow on their third trading day, while ETH ETFs started to see major outflows on the second day of their trading, according to Farside.

Bitcoin and Ethereum-based investment products have also recorded a combined net outflow of $3.25 billion over the past five consecutive trading days.

The major outflows come as the broader crypto market has been seeing strong selloffs from both large and small investors and traders.

According to CoinMarketCap data, the global crypto market cap has declined by roughly $700 billion over the past 30 days, currently sitting at $3.1 trillion.

If the selloffs continue, especially as huge amounts of Bitcoin enter centralized crypto exchanges, seeing outflows even from Solana ETFs won’t be surprising.

Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.

Solana (SOL) News, Cryptocurrency News, News

Wahid has been analyzing and reporting on the latest trends in the decentralized ecosystem since 2019. He has over 4,000 articles to his name and his work has been featured on some of the leading outlets including Yahoo Finance, Investing.com, Cointelegraph, and Benzinga. Other than reporting, Wahid likes to connect the dots between DeFi and macro on his newsletter, On-chain Monk.

Wahid Pessarlay on X

Terrill Dicki
Nov 19, 2025 07:12

XRP price prediction shows bearish momentum targeting $1.85-$2.07 support zone within 1-2 weeks, with bullish reversal potential toward $2.58 resistance if support holds.

XRP Price Prediction Summary
• XRP short-term target (1 week): $1.85-$2.07 (-14% to -4%) - Testing critical support zone
• Ripple medium-term forecast (1 month): $2.07-$2.58 range following support bounce
• Key level to break for bullish continuation: $2.58 (immediate resistance)
• Critical support if bearish: $1.25 (strong support level)

Recent Ripple Price Predictions from Analysts
While no significant price predictions have emerged in the past three days, the current technical setup suggests analysts may be waiting for clearer directional signals. The lack of fresh predictions often indicates market uncertainty, which aligns with XRP's current consolidation phase near critical support levels. This absence of analyst coverage creates an opportunity for contrarian positioning, as XRP trades 39% below its 52-week high of $3.55.

The technical indicators paint a mixed picture that explains why analysts may be hesitant to make bold predictions. With XRP hovering near the lower Bollinger Band and showing bearish momentum signals, most traditional technical analysis would suggest caution until clearer trend confirmation emerges.

XRP Technical Analysis: Setting Up for Support Test
The Ripple technical analysis reveals a cryptocurrency under significant pressure, with multiple indicators pointing toward further downside before a potential reversal. XRP's current price of $2.16 sits precariously close to the immediate support level at $2.07, representing just a 4% buffer.

The moving average structure tells a bearish story, with XRP trading below all major moving averages. The price sits $0.06 below the 7-day SMA ($2.22), $0.16 below the 20-day SMA ($2.32), and significantly below the 50-day ($2.50) and 200-day ($2.63) moving averages. This alignment suggests sustained selling pressure and validates our XRP price prediction for lower levels.

The MACD histogram at -0.0103 confirms bearish momentum, while the extremely low Stochastic %K reading of 10.37 indicates XRP is approaching oversold conditions. However, the RSI at 38.87 remains in neutral territory, suggesting room for further decline before reaching oversold levels that typically trigger buying interest.

Volume analysis shows $360.8 million in 24-hour trading on Binance, which is moderate but not indicative of panic selling or strong accumulation. This volume level suggests controlled selling rather than capitulation, supporting our prediction of a gradual decline toward support levels.

Ripple Price Targets: Bull and Bear Scenarios
Bullish Case for XRP
Our bullish XRP price prediction scenario targets the immediate resistance at $2.58, representing a 19% upside from current levels. This XRP price target becomes viable if the cryptocurrency successfully defends the $2.07 support level and demonstrates buying interest through increased volume.

The bullish case strengthens if XRP can reclaim the 20-day SMA at $2.32, which would shift the short-term trend from bearish to neutral. A break above $2.58 would then target the upper Bollinger Band resistance at $2.56, followed by a potential move toward the 50-day SMA at $2.50. The ultimate bullish XRP price target remains the 52-week high at $3.55, though this would require significant fundamental catalysts beyond current technical considerations.

Key technical requirements for the bullish scenario include RSI recovery above 50, MACD histogram turning positive, and sustained volume above $400 million daily. These conditions would validate our optimistic Ripple forecast and justify aggressive accumulation strategies.

Bearish Risk for Ripple
The bearish scenario for our XRP price prediction involves a breakdown below the critical $2.07 support level, which would likely trigger algorithmic selling and stop-loss orders. This breakdown would target the strong support at $1.25, representing a 42% decline from current levels.

Intermediate support exists around $1.85, which corresponds to the 78.6% Fibonacci retracement level from the recent rally. However, if selling pressure intensifies, XRP could quickly move through this level toward the major support zone. The bearish case gains credibility given XRP's position near the lower Bollinger Band and the negative MACD histogram reading.

Risk factors supporting the bearish Ripple forecast include potential regulatory headwinds, broader cryptocurrency market weakness, and the technical breakdown below multiple moving averages. Traders should monitor the $2.07 level closely, as a decisive break would invalidate near-term bullish scenarios.

Should You Buy XRP Now? Entry Strategy
Based on our comprehensive Ripple technical analysis, the current risk-reward profile suggests waiting for clearer signals before making significant commitments. However, patient traders can consider a layered approach to capitalize on our XRP price prediction scenarios.

Conservative Entry Strategy: Wait for XRP to test the $2.07 support level and demonstrate buying interest through reversal candlestick patterns and increased volume. Initial position sizing should be limited to 25% of intended allocation, with additional purchases planned at $1.85 and $1.25 if the bearish scenario unfolds.

Aggressive Entry Strategy: Current levels near $2.16 offer an acceptable entry point for traders willing to accept higher risk. However, tight stop-loss orders below $2.00 are essential to limit downside exposure. This approach aligns with our short-term XRP price prediction while maintaining risk management discipline.

Position sizing should reflect the uncertain technical environment, with maximum allocation not exceeding 3-5% of total portfolio value. The decision to buy or sell XRP ultimately depends on individual risk tolerance and conviction in the cryptocurrency's long-term fundamentals.

XRP Price Prediction Conclusion
Our analysis yields a medium confidence XRP price prediction calling for initial weakness toward $1.85-$2.07 support levels within the next 1-2 weeks, followed by a potential bounce toward $2.58 resistance over the following 2-4 weeks. This Ripple forecast reflects the current technical uncertainty while acknowledging the cryptocurrency's oversold positioning.

The critical factor for validating our prediction lies in XRP's behavior around the $2.07 support level. Decisive rejection of this level with strong volume would support the bullish scenario and our higher price targets. Conversely, breakdown below this support would trigger the bearish scenario and substantially lower price objectives.

Key indicators to monitor for confirmation include RSI movement above 45 for bullish validation or below 30 for bearish confirmation, MACD histogram turning positive for trend reversal, and daily volume exceeding $500 million for breakout confirmation. Our timeline expects these technical developments to unfold over the next 10-14 trading days, providing clear directional signals for the subsequent month.

Image source: Shutterstock

xrp price analysis
xrp price prediction

Ripple-affiliated XRP could be headed for more losses if bulls fail to mount a sustainable recovery in the near term, with a big chunk of the token’s investors now in the red. Amid recent losses and volatility, 41.5% of the XRP supply is now underwater.

With the XRP price down 8.8% over the past seven days, can the incoming wave of spot exchange-traded funds (ETFs) help the cross-border payments coin overcome this difficult period?

41.5% of XRP Supply Sits in Losses
In an Oct. 17 post on X, analysts from Glassnode noted that the XRP supply currently in profit has dropped to its lowest levels since November 2024, when the fourth-largest cryptocurrency was trading at just 53 cents.

Even though the XRP price is currently trading four times higher than 53 cents, 41.5% of XRP coins are sitting on losses — meaning the token is worth less than what it was purchased for.

Since many investors bought XRP near the top, a further price retrace may force these investors to panic sell, increasing downside pressure. As such, Glassnode believes that the current setup is “structurally fragile.”

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“Today, despite trading ~4× higher ($2.15), 41.5% of supply (~26.5B XRP) sits in loss — a clear sign of a top-heavy and structurally fragile market dominated by late buyers,” Glassnode wrote.

The XRP price is currently hovering at $2.22 after having gained a paltry 0.5% on the day, according to CoinGecko. The coin is 39% off since hitting its $3.65 all-time high in July 2025.

One catalyst that investors are hoping will help reinvigorate the XRP bulls is the new spot ETFs that are expected to launch across US exchanges this week.

After the Thursday launch of the first spot-XRP ETF by asset manager Canary Capital, which outshined all 900 U.S. ETF launches in 2025 with $58 million in day-one trading volume, there are four other exchange-traded funds from Franklin Templeton, Bitwise, 21Shares, and CoinShares set to go live in a couple of days.

TLDR: 

Banks can now hold crypto for gas fees under OCC guidance, granting institutions direct on-chain operational access.
Interpretive Letter 1186 allows native tokens for testing authorized blockchain systems in controlled environments.
Paul Barron noted banks no longer need intermediaries for gas fees, improving operational efficiency.
The OCC outlined limits requiring safe practices and legal compliance for all approved crypto activities.

The Office of the Comptroller of the Currency confirmed a new policy that allows US banks to hold crypto for paying blockchain gas fees. The move outlines when banks can use assets like Bitcoin or Ethereum for network charges linked to approved blockchain activities.

 It also permits banks to keep small amounts of crypto on balance sheets for testing internal platforms. The update sets a clear framework for institutions exploring regulated blockchain operations.

OCC Clarifies Rules on Bank Authority to Hold Crypto
The OCC issued Interpretive Letter 1186 and detailed the new guidance in an official release. The letter states that national banks may pay crypto-asset network fees and hold crypto needed for “reasonably foreseeable” activity. 

This confirmation follows growing interest from financial institutions seeking direct access to blockchain settlements. Paul Barron described the update as a major shift for banks interested in operational use of assets like BTC, ETH, XRP, and SOL.

The agency noted that banks may also hold crypto for testing platforms developed internally or obtained from third parties. This point expands the scope of what banks may support during early-stage blockchain adoption. 

Moreover, the OCC emphasized that institutions must follow safe and sound practices while conducting these operations. The release also noted that banks must comply with all applicable laws when engaging in these activities.

The announcement reduces reliance on intermediaries for simple blockchain transactions. It offers banks a clearer path to operate in environments where gas fees are required for routine processes. The OCC framed the move as a clarification rather than a new directive. The update matches ongoing efforts to define how traditional institutions interact with digital assets.

🚨 UPDATE: The OCC just gave US banks the green light to hold crypto on their balance sheets for paying blockchain gas fees
This is HUGE for the industry:

Banks can now hold $BTC $ETH $XRP $SOL & other native tokens
Enables banks to pay network fees for permissible blockchain… https://t.co/9pyhkzhr0A

— PaulBarron (@paulbarron) November 18, 2025

Banks Gain Direct Access to Blockchain-Based Operations
The policy enables banks to hold small amounts of native tokens for expected payment needs. 

Barron highlighted that banks no longer need third-party services to manage routine gas fees. This change gives institutions more control over timing and execution of blockchain activity. It also simplifies operational planning for teams running on-chain systems.

The OCC stated that permissible activities must relate to functions already allowed under existing law. This includes approved settlement processes and other blockchain-integrated banking functions. 

Banks may now maintain tokens in preparation for these processes without additional approvals. The update supports institutions exploring blockchain use cases across payments and internal systems.

The announcement offers another step toward regulated blockchain participation in the banking sector. It sets boundaries while opening the door for more direct interaction with crypto networks. 

The OCC guidance also serves as a reference point for institutions planning on-chain workflows. Barron’s post framed the shift as meaningful for banks navigating the changing digital asset landscape.

RippleX Head of Engineering J. Ayo Akinyele has sparked renewed interest in the future of the XRP Ledger (XRPL) after releasing an in-depth analysis questioning whether the network could one day support native staking. His exploration arrives as Ripple leaders, including CTO David Schwartz and CEO Brad Garlinghouse, emphasize expanding XRPL’s capabilities beyond payments and deeper into decentralized finance (DeFi).

Akinyele noted that XRP’s role has matured significantly since its early days as a fast settlement asset. Today, it powers liquidity operations, real-time value movement, and tokenized asset flows. With the launch of the first XRP ETF marking a major milestone in mainstream recognition, Akinyele believes it is reasonable to revisit bigger questions about the asset’s future utility—including the potential for native staking.

He explained that implementing staking on XRPL would require major architectural changes because its existing Proof of Association consensus differs sharply from traditional Proof-of-Stake systems. Validators earn trust through performance rather than financial collateral, and transaction fees are burned instead of redistributed. For native staking to work, he said, the network would need a sustainable source of rewards and a fair mechanism to distribute them—both of which would reshape how value moves across XRPL.

Schwartz added perspective by outlining two experimental concepts circulating internally. One would introduce a two-layer consensus design in which a small group of validators is selected based on stake. The other would keep XRPL’s current model but use transaction fees to fund zero-knowledge proofs validating smart contract execution, reducing the need for nodes to run contracts directly. While innovative, Schwartz cautioned that neither approach appears practical in the near term due to complexity and limited immediate benefit.

With XRPL’s DeFi footprint still modest—about $75 million in TVL compared to Ethereum and Solana—native staking could theoretically attract new capital and strengthen XRP’s presence in the broader ecosystem. As programmability efforts progress, Ripple’s engineers view this moment as an opportunity to reassess what the next era of XRPL innovation may look like.

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21Shares will launch its Solana ETF following a final filing with the SEC. It would be the sixth such SOL fund to hit the market after a recent spate of launches by other asset managers.

21Shares To  Launch Sixth Solana ETF
On Tuesday, 21Shares filed its final prospectus with the U.S. Securities and Exchange Commission for a new SOL ETF. This means the product could begin trading today. The fund will come with a 0.21% management fee. 

Shortly after the filing, the website of the SEC showed that the exchange Cboe has approved the listing and registration of the fund. This basically allows the launch of the product.

Source: SEC
This follows the introduction of two crypto index funds by 21Shares last week. Those products offer regulated exposure to Bitcoin, Ethereum, Solana, and Dogecoin. This makes them the first crypto index ETFs registered under the Investment Company Act of 1940. 

In other news, Fidelity Investments launched the Fidelity Solana fund under the ticker FSOL yesterday. The fund went live on NYSE Arca with a 0.25% management fee and a 15% charge on staking rewards. Fidelity now represents the largest asset manager offering the SOL fund.

Also, Canary Capital launched the Canary Marinade Solana ETF (SOLC) on Nasdaq. The fund is partnered with Marinade Finance. They will be the sole staking provider for at least two years. The fund plans to stake all its SOL holdings under normal market conditions.

SOL ETF Inflows Remain Strong Despite Price Weakness
Inflows for the token have continued despite the market dip. On November 18, SOL ETFs posted net inflows of $26.2 million. Bitwise’s BSOL led the flow with $23 million in inflows. This marks the 15th consecutive trading day of positive inflows. This is while both Bitcoin and Ethereum spot ETFs recorded new rounds of outflows.

The demand comes amid the decline in SOL’s price. The coin’s value has dropped more than 10% over the past week.

With Fidelity and Canary Capital now active, that means five Solana ETFs have launched in the U.S. market. 21Shares’ expected launch would take it to six. The different products offer a variety of staking strategies, fee models, and market exposures.

Meanwhile, VanEck also launched its VSOL fund on November 17. The asset manager started the fund with $7.32 million and will work with SOL Strategies for staking. The firm is offering a no-fee structure until the fund reaches $1 billion in assets.

Bitcoin's hold over the cryptocurrency market has started to weaken, raising debate over whether altcoins could soon enter a period of outperformance. Bitcoin Dominance (BTC.D) dropped from more than 61% to 58.8% in November 2025, while the Altcoin Season Index climbed to its highest point in over a month, signaling a notable shift in market structure.

El Salvador has significantly increased its Bitcoin reserves by purchasing over 1,000 BTC, boosting its total holdings to approximately 7,500 BTC. This acquisition, valued at around $100 million, occurred during a sharp downturn in the cryptocurrency market when Bitcoin's price dipped below $90,000.

Arthur Hayes, the co-founder of BitMEX, says Bitcoin is likely to fall in the short term before bouncing back toward the end of the year. His latest market note warns that the crypto rally has lost key support as dollar liquidity tightens across the financial system.
Hayes believes Bitcoin is reacting to the same forces that shape global money supply. He describes the asset as a “free market signal” for future liquidity. When liquidity expands, risk assets rise. When it contracts, Bitcoin tends to drop.

According to him, the recent 25% pullback from early October highs reflects a shift in liquidity rather than any change in political messaging from the White House. He says the market is now giving more weight to hard data than political promises.

Source
Declining Liquidity Hits Bitcoin
Hayes cites his USD Liquidity Index, which fell about 10% since April. During that same period, Bitcoin had moved higher due to strong inflows into ETFs and digital asset treasury firms. Those inflows have now slowed.

He explains that most ETF buying this year did not come from long-term believers. Instead, hedge funds used ETFs to run a basis trade. They bought spot exposure through ETFs and hedged with CME futures. This trade worked only because the spread between futures and spot sat above interest rates.

Source
As the spread narrowed, funds exited. This caused outflows from major ETFs, creating the impression that institutions suddenly lost interest in Bitcoin. Hayes says the shift triggered fear among retail investors, amplifying the sell pressure.

Digital Asset Treasury companies, such as MicroStrategy, also slowed their Bitcoin purchases. Their stocks moved from trading at a premium to trading at a discount, making it harder for them to acquire cheap Bitcoin through equity issuance.

Hayes Says Political Pressure Will Reverse the Trend
The former BitMEX CEO believes the current downturn is temporary. He argues that US political forces will eventually push the government to inject more liquidity into the system.

Hayes points to the ongoing struggle between the White House, the Treasury, and the Federal Reserve. He says politicians want to appear tough on inflation, especially as voters continue to complain about high living costs. At the same time, they need markets to stay strong ahead of the 2026 midterm elections.

Source
He predicts that once the pain in stocks, bonds, and risk assets becomes too visible, policymakers will shift back to aggressive liquidity support. This would mirror earlier periods where tightening was followed quickly by stimulus.

A Set-Up for a Year-End Rebound
Hayes compares the current environment to past cycles. He notes that when the Treasury rebuilds its cash balance after debt ceiling resolutions, liquidity falls. This happened in 2023 and again in 2025.

He expects a similar outcome: a short period of stress, followed by renewed money printing as leaders attempt to stabilize markets and regain public support.

In his view, these dynamics set the stage for Bitcoin to recover strongly before the year closes. He remains confident that political and market pressure will force a return to expansionary policy.

Source
Hayes warns the price could slip toward $80,000–$85,000 before recovering. He projects that a rebound in U.S. liquidity later in the year could lift Bitcoin into the $200,000–$250,000 range.

For long-term investors, Hayes says the short-term drop does not change the overall trajectory. But in the near term, he warns that the market needs to flush out excess optimism before the next leg higher.

Hayes join other Bitcoin experts to share their views on BTC in recent times. Michael Saylor of Strategy believes BTC will stand strong amidst crisis. Others like Robert Kiyosaki believes now is the best time to get Bitcoin.

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Two US senators have sent a new letter demanding that the Department of Justice (DOJ) and the Treasury Department investigate Donald Trump-backed World Liberty Financial (WLFI) over token sales allegedly linked to illicit actors.

Senators Question WLFI’s Token Sale
On Tuesday, CNBC News reported that Democratic Senators Elizabeth Warren and Jack Reed expressed concerns about potential national security risks related to one of the Trump family’s crypto ventures, World Liberty Financial.

In a letter seen by the news media outlet, the senators requested that Attorney General Pam Bondi and Treasury Secretary Scott Bessent investigate claims that the Trump-backed company had allegedly sold tokens to sanctioned entities or individuals with ties to illicit actors in Russia and North Korea.

Warren and Reed reportedly argued that WLFI “lacks adequate safeguards to prevent bad actors from moving funds or gaining influence over its governance,” raising concerns over a potential conflict of interest.

According to CNBC, the letter cited a recent report from the non-profit corporate watchdog Accountable.US, which affirmed that World Liberty Financial sold its WLFI token to “various highly suspicious entities,” including traders with ties to North Korea’s Lazarus Group, or using Russia’s A7A5 ruble-backed stablecoin, and Iran’s largest crypto exchange, Nobitex.

To the senators, the reported token sales to individuals with “open and obvious connections to enemies of the U.S.” indicate “an absence of robust sanctions and anti-money laundering controls.”

Additionally, they consider that the company “risks supercharging illicit finance activity” and raises national security risks by giving bad actors “a seat at the table” to influence the firm’s governance.

The letter added that the Trump family’s ties with the crypto venture “create a financial conflict of interest for Trump Administration officials that report to the President: prioritizing token sales will directly enrich the Trump family — while compliance activities may interfere with this wealth creation.”

Conflict Of Interest Claims Mount
A spokesperson for World Liberty Financial rejected any misconduct, stating, “There is no conflict of interest between World Liberty Financial, a private crypto company with zero political power, and the U.S. government.”

Moreover, the representative told CNBC that “World Liberty Financial conducted rigorous AML/KYC checks on every pre-sale purchaser of the $WLFI governance token — the highest standard in the industry — and turned down millions of dollars from potential purchasers who failed the tests.”

It’s worth noting that the Democratic lawmakers have pressed multiple government officials, including the US Special Envoy for peace missions, the Securities and Exchange Commission (SEC)’s former acting chairman, and the head of the Office of the Comptroller of the Currency (OCC), about Trump’s crypto ventures and potential conflicts of interest.

Most recently, they have questioned the recently granted pardon to Binance’s co-founder and former CEO, Changpeng “CZ” Zhao. As reported by Bitcoinist, the US president denied allegations of potential corruption, alleging that he is not actively involved in the Trump family’s crypto businesses.

Nonetheless, the Democratic senators argued that the timing of their request is essential ahead of Congress’s efforts to develop new crypto regulation that could protect governance tokens like WLFI from current US oversight.

“As Congress considers legislation on the market structure for digital assets, we must ensure that crypto interests do not profit at the expense of U.S. national security and that illicit actors are not handed the keys to financial platforms that they can later exploit,” the letter added.

Ultimately, the senators requested that the DOJ and the Treasury provide the pertinent information against World Liberty Financial by December 1.

WLFI trades at $0.14 in the one-week chart. Source: WLFIUSDT on TradingView
Featured Image from Unsplash.com, Chart from TradingView.com

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Amid the second wave of crypto-based Exchange-Traded Funds (ETFs), Solana (SOL)-based investment products have been leading the charge, fueled by strong demand despite the recent market volatility. As a new group of investment products based on the altcoin hits the market and SOL’s price starts to recover, some suggest that a rebound could be underway.

Solana ETFs Take Over
The second wave of Solana ETFs has arrived in the market after the successful launch of SOL-based investment products. On Monday, VanEck debuted its Solana ETF (VSOL) on Nasdaq, becoming the third investment product based on the altcoin to launch over the past month.

According to the announcement, the firm is waiving its 0.30% fee on the first $1 billion in assets under management (AUM) or until February 17, 2026. Meanwhile, its third-party staking provider will also waive its fee for staking services under the same conditions.

Adding to the momentum, Fidelity and Canary Capital launched their FSOL and SOLC ETFs on Tuesday, after recently filing 8-A forms with the Securities and Exchange Commission (SEC). Senior Bloomberg analyst Eric Balchunas noted that Fidelity is “easily the biggest asset manager in this category with BlackRock sitting out,” adding that it is “Game on” with the other launches.

Meanwhile, Nate Geraci also highlighted the new launch, but expressed surprise that BlackRock is “sitting this one out” as many anticipate a successful performance. Notably, Bitwise and Grayscale debuted their BSOL and GSOL ETFs at the end of October, registering a record-breaking performance since their launch.

Farside Invest data shows that SOL-based investment products have recorded over $390 million in inflows, with 15 consecutive trading days of positive net flows, signaling strong institutional demand for the products.

In a Tuesday X post, Bitwise’s CEO, Hunter Horsley, noted BSOL’s positive performance despite the market correction, affirming that “prices are in the eye of the beholder.” “ETF investors continue to buy the dip. Grateful for the trust in Bitwise to steward investor assets,” he added.

Institutional Demand To Fuel SOL’s Rebound?
Amid the Tuesday launches, SOL’s price bounced 8.4% from its five-month low of $128, recorded on Monday. The cryptocurrency has declined 12% over the past month, losing crucial levels during the market correction.

However, Bybit recently suggested that the newly launched investment products could reshape “its price trajectory and market structure for years to come.” In a recent report, the crypto exchange’s analysts noted that the altcoin joined Bitcoin (BTC) and Ethereum (ETH) as one of the few digital assets with regulated brokerage access in the US.

This “represents a structural shift in how SOL is accessed, traded and perceived,” significantly expanding SOL’s investor base and confidence. “If historical patterns hold, Solana could be on the cusp of a multi-quarter rally that redefines its position in the crypto hierarchy,” the exchange affirmed.

Analyst Ted Pillows pointed out SOL’s price action, calling it “one of the worst-performing large caps recently.” However, he argued that, because of this, most of its downside liquidity has already been taken out, with “decent liquidity clusters around the $170-$200 level.”

To analysts, if the market starts to recover and stabilizes, Solana could rally 20%-40% to retest this area. Meanwhile, Daan Crypto Trades affirmed that SOL is “putting in quite the reversal relative to its BTC pair,” as the cryptocurrency has broken out of a three-week downtrend against Bitcoin after some failed attempts.

As of this writing, Solana is trading at $141, a 25.3% decline in the monthly timeframe.

SOL’s performance in the one-week chart. Source: SOLUSDT on TradingView
Featured Image from Unsplash.com, Chart from TradingView.com