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$2,456.58 -0.71781
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BNB
BNB (BNB)
$570.74 -1.01995
BNB price
Solana
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$145.89 -0.52129
Solana price
XRP
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$0.530037 -1.75989
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Shiba Inu
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$0.0000174 -2.99006
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Pepe
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$0.0000096 -4.06239
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Bonk
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$0.0000211 -3.89013
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Bitcoin
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$62,597.00 -0.88114
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Ethereum
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$2,456.58 -0.71781
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BNB
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$570.74 -1.01995
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Solana
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$145.89 -0.52129
Solana price
XRP
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$0.530037 -1.75989
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Shiba Inu
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$0.0000174 -2.99006
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Pepe
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Bonk
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$0.0000211 -3.89013
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Bitcoin
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$62,597.00 -0.88114
Bitcoin price
Ethereum
Ethereum (ETH)
$2,456.58 -0.71781
Ethereum price
BNB
BNB (BNB)
$570.74 -1.01995
BNB price
Solana
Solana (SOL)
$145.89 -0.52129
Solana price
XRP
XRP (XRP)
$0.530037 -1.75989
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000174 -2.99006
Shiba Inu price
Pepe
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$0.0000096 -4.06239
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Bonk
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$0.0000211 -3.89013
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Bitcoin ETFs recover, MicroStrategy buys more BTC, XRP Trust launched | Weekly Recap

bitcoin-etfs-microstrategy-xrp-trust-weekly-recap
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Recap
Bitcoin ETFs recover, MicroStrategy buys more BTC, XRP Trust launched | Weekly Recap

The U.S. SEC apologizes for its “crypto assets securities” tag in the Binance case; Bitcoin ETFs recover lost capital; Harris gains on Trump; MicroStrategy expands its stash; Grayscale launches XRP Trust.

SEC’s indecision 

  • Last week, the U.S. SEC submitted an amended complaint in the Binance lawsuit, apologizing for the confusion caused by its use of the term “crypto asset securities” to classify certain cryptocurrencies in the case.
  • Interestingly, this development occurred just a day after the securities regulator reached an agreement with eToro, requiring the trading platform to restrict its crypto offerings to Bitcoin (BTC), Bitcoin Cash (BCH), and Ethereum (ETH), while also imposing a $1.5 million fine.
  • A report from last week revealed that SEC fines imposed on crypto companies skyrocketed by 3,018% in the past year. Notably, in 2024 alone, the agency has collected $4.68 billion in fines from crypto firms, accounting for 68% of the total fines since its establishment.

Bitcoin ETFs’ recovery

  • Spot Bitcoin ETFs turned positive last week. The products witnessed $28.6 million in net inflows on Sept. 9, ending their eight-day losing streak. A day later, they recorded a four-fold increase in inflows, totaling $117 million. 
  • The investment products saw intraday outflows of $43.9 million on Sept. 11, but rebounded the next day. Overall, spot Bitcoin ETFs witnessed four green days last week, with total cumulative net inflows sitting at $403.9 million. 

Harris v. Trump

  • Last week, Polymarket users favored Vice President Kamala Harris after her debate with Republican nominee and former President Donald Trump.
  • Shortly after the debate, Harris’ election odds were tied with Trump’s, but have since shifted. At last check on Sunday, crypto bettors have Harris’ odds at 51% to Trump’s 49%.

Trump to launch World Liberty Financial 

  • Trump announced that he will unveil a new crypto project called World Liberty Financial on Monday, Sept. 16 — another victory for Polymarket participants, who predicted that the twice-impeached ex-president would launch a coin before Election Day. 
  • About 70% of the so-called World Liberty Financial token will be available only to “insiders,” including Trump. 
  • That “raises alarms,” Adam O’Neill, Chief Marketing Officer at Bitrue, says. “It feels more like an attempt to cash in on hype rather than a serious venture into the crypto world.”

MicroStrategy buys additional BTC

  • Business intelligence company MicroStrategy added to its Bitcoin stash last week. The company’s Chairman Michael Saylor announced an acquisition of 18,300 BTC for $1.11 billion.
  • This purchase brought MicroStrategy’s Bitcoin holdings to 244,800 tokens procured with about $9.45 billion. With the assets now worth $14.725 billion, MicroStrategy currently boasts a profit of $5.27 billion on its Bitcoin bet.

Grayscale launches XRP Trust

  • A month after the final ruling in the Ripple vs. SEC lawsuit, Grayscale Investments launched its Ripple (XRP) fund, with an aim to grant accredited investors exposure to XRP. 
  • The launch of the trust was the first of four phases an investment product would go through before being a full-fledged ETF. 
  • Notably, Grayscale took the same steps for its Bitcoin and Ethereum ETFs.