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The SEC has extended its review period for Bitwise's application to list the Bitwise 10 Crypto Index ETF on NYSE Arca, with a new decision deadline set for March 3, 2025. The fund, which tracks the top ten crypto assets including Bitcoin and Ethereum, currently trades on the OTCQX Best Market. Bitwise's CEO emphasizes the potential benefits of the ETF format, while the SEC remains cautious, focusing on issues like market manipulation and investor protections.
Italy's largest bank, Intesa Sanpaolo, has reportedly entered the Bitcoin market with a €1 million investment, acquiring approximately 11 BTC. This move follows the bank's previous approval for spot crypto trading and reflects a growing trend of institutional interest in Bitcoin, as corporate demand continues to outpace supply. Financial experts suggest that banks are increasingly recognizing Bitcoin's potential for balance sheet recapitalization.
In early 2025, Binance reported that altcoin trading has surged to 78% of total activity, reflecting an 11% increase in volume since May 2024. Despite Ethereum's recent decline to $3,279, market analysts remain optimistic, anticipating a transformative year for cryptocurrencies as Bitcoin holds a 57.74% market dominance. Increased retail participation and institutional interest in altcoins are evident, with significant trading activity noted during Asian hours, suggesting a shift in trader preferences and a maturing market landscape.
Ripple's XRP price rebounded to $2.53 after recent volatility, with analysts predicting further growth due to Donald Trump's inauguration and changes in SEC leadership. Meanwhile, Shiba Inu's TREAT token launched, with major exchanges offering airdrops to boost user engagement. Bitcoin recovered from a dip below $90,000, currently trading near $95,000, as industry leaders forecast strong momentum for 2025.
Bitcoin has rebounded to $95,000 after dipping below $90,000, marking a significant recovery in bullish sentiment. Analysts are watching closely to see if BTC can maintain support at $92,000 to challenge the range high of $95,400, while some predict a potential pullback to $80,500. The overall crypto market capitalization remains steady at $3.43 trillion, with Ethereum trading at $3,180, down nearly 14% for the week.
Binance's altcoin dominance has surged to 78%, reflecting a significant shift from Bitcoin as retail interest in altcoins grows, potentially paving the way for a bull market in 2025. Analysts highlight Ethereum's pivotal role, with expectations of a price breakout that could trigger a broader altcoin rally. Despite Bitcoin's current dominance at 57.74%, a decline in its market share may signal an impending altcoin season, though only select projects with strong use cases are expected to thrive in this new market cycle.
Binance's altcoin trading volume dominance has surged to 78%, indicating strong momentum for a potential altcoin bull market in 2025, according to analyst Burakkesmeci. This growth, from 50.80% in May 2024, reflects increasing retail interest, despite Bitcoin's dominance rising to 57.74%. Meanwhile, Ether is anticipated to rise significantly, potentially signaling broader altcoin market gains.
Standard Chartered Bank has launched crypto custody services in Luxembourg, targeting institutional clients across the EU, in alignment with the MiCA regulation. The new division aims to provide secure digital asset storage, capitalizing on Luxembourg's stable regulatory environment. This initiative follows the bank's recent expansion into the UAE, where it secured a license for digital asset custody services, highlighting its commitment to innovate in the digital asset sector.
In 2025, a significant shift is expected as more publicly traded companies adopt Bitcoin as a corporate strategy, leading to the rise of 'Bitcoin Standard Corporations,' according to Bitwise CEO Hunter Horsley. He highlights that firms like MicroStrategy provide a roadmap for accumulating Bitcoin, with 11 companies reportedly increasing their holdings since late 2024. Additionally, Horsley anticipates a surge in tokenized small businesses driven by AI, enabling niche markets to thrive and allowing customers to become shareholders.
Bitwise Asset Management CEO Hunter Horsley anticipates that the return of Donald Trump to the White House could lead to a surge in mergers and acquisitions, benefiting the cryptocurrency sector. He believes that deregulation may allow major corporations to expand through strategic acquisitions, potentially increasing demand for digital assets as alternatives to large institutions. As industry giants like Amazon and Google engage with blockchain technology, the positive outlook for cryptocurrencies is reflected in Bitcoin's recent surge past $100,000.
Hunter Horsley
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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