In a significant development for the cryptocurrency market, new exchange-traded funds (ETFs) from REX and Osprey have successfully passed the U.S. Securities and Exchange Commission’s (SEC) 75-day review period. Among these offerings is an ETF dedicated to Dogecoin, which has garnered increased interest. Bloomberg Intelligence analyst Eric Balchunas provided insights to Cointelegraph, indicating that these funds are scheduled to begin trading on Friday. Balchunas highlighted the progress of these ETFs, stating, “Post-effective means that it’s going to launch, basically,” and noted additional funds linked to Bitcoin, XRP, Bonk, and tokens associated with former President Trump.
On the market front, Dogecoin (DOGE) led the charge among major altcoins, surging 4.4% within a 24-hour period. Positive retail sentiment around the coin was evident on Stocktwits, where discussions entered ‘bullish’ territory, reflecting a high level of retail engagement. Meanwhile, Solana (SOL) continued its impressive run, reaching an intraday peak of $225.49, marking its highest price since February, although still trailing 23% behind its all-time high of nearly $290 established in January. The sentiment around Solana turned ‘neutral’ as retail discussion levels improved from ‘low’ to ‘normal.’
In another noteworthy market move, shares of Sol Strategies, previously known as Cypherpunk Holdings, began trading on the Nasdaq under the ticker symbol STKE. This marks a significant expansion for the Toronto-based firm into U.S. capital markets while it retains its listing on the Canadian Securities Exchange. Following its market debut, STKE stock saw a nearly 3% rise during pre-market trading on Thursday, building on a previous gain of 1.58%. Retail sentiment for STKE was categorized as ‘extremely bullish,’ although chatter levels decreased slightly.
Overall, altcoins outperformed Bitcoin in early trading hours, with Tron (TRX) increasing by 2.6%, Ethereum (ETH) rising by 2.2%, Ripple’s XRP up by 1.7%, and Cardano (ADA) gaining 1.1%. Bitcoin, however, lagged behind, seeing a modest 1.5% increase, finally breaking above the $114,000 mark, though retail sentiment remained in ‘bearish’ territory.
The overall cryptocurrency market experienced a rise of 1.7%, surpassing the $4 trillion milestone, as investors prepared for the upcoming consumer price index (CPI) report. Liquidations in crypto futures amounted to approximately $258 million over the past day, with long positions totaling around $101 million and shorts accounting for approximately $157 million.
Among digital asset treasury equities, there was cautious optimism as they reported modest gains in pre-market trading. Strategy (MSTR), the largest corporate holder of Bitcoin, rose about 0.55%, while Bitmine Immersive Technologies (BMNR), the largest publicly traded company holding Ethereum, climbed 4.8%. Bitcoin mining stocks, including Marathon Holdings (MARA), which saw a 0.69% increase, and Riot Platforms (RIOT), which rose 0.55%, also performed well. Leading cryptocurrency exchange Coinbase (COIN) reported a rise of 0.84%.
