Spot XRP ETF to Be Approved This Year, Says Top Analyst; US Congressman Discloses XRP, SOL and BTC Holdings; 8.32 Trillion in 24 Hours, Shiba Inu OI Surges: Crypto News Digest by U.Today

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U.Today has prepared a summary of the top three news stories over the weekend.

Spot XRP ETF to be approved this year, according to top analyst

In a recent post, well-known ETF analyst Nate Geraci outlined his top 10 crypto ETF predictions for 2025, which included forecasts about Ethereum, Bitcoin, and XRP. Among these, he predicted that an XRP spot ETF would receive approval this year. According to U.Today, Ripple‘s President Monica Long recently stated that the SEC might approve a spot ETF for XRP following those of Bitcoin and Ethereum. Currently, applications for XRP ETFs are being processed by firms like WisdomTree, Bitwise, Canary Capital, and 21Shares. However, BlackRock has decided against pursuing more altcoin ETFs at this time, despite the success of its Bitcoin ETF.

U.S. Congressman discloses XRP, SOL and BTC holdings

Congressman Guy Reschenthaler (R-PA) has made public his recent acquisitions of cryptocurrencies such as XRP, Solana (SOL), and Bitcoin (BTC). According to information from quiverquant.com, each purchase falls within the range of $1,000 to $15,000. Other representatives, like Mike Collins (R-GA), have also disclosed their investments, with Collins buying Ski Mask Dog (SKI) earlier this year. Barry Moore (R-AL) and Jeffrey Jackson (D-NC) have previously declared substantial cryptocurrency transactions as well. In the meantime, the U.S. Senate is planning to form a specialized committee for digital assets, headed by Senator Cynthia Lummis (R-WY), who is famous for her Bitcoin purchase bill. The U.S. House Ethics Committee mandates that lawmakers disclose cryptocurrency holdings worth over $1,000 since 2018. Before this rule was implemented, the cryptocurrency investments of U.S. lawmakers remained undisclosed due to the lack of disclosure rules for the new asset class.

8.32 trillion in 24 hours, Shiba Inu Open Interest skyrockets

As a researcher, I observed an intriguing turn of events with Shiba Inu (SHIB) on Friday, January 10th. The Open Interest (OI) saw a substantial surge of over 36% within a 24-hour period, pushing the price above $0.0000211. This surge in OI represents approximately 8.34 trillion SHIB, valued at around $181.45 million, according to CoinGlass.

The heightened investor interest, driven by recent market volatility, seems to have been reflected in these figures. Notably, the Gate.io exchange accounted for more than half of these transactions, with Bitget and OKX trailing behind in second and third place.

This price rebound might be attributed to substantial token burn activities that resulted in 21,709,094 SHIB tokens being removed from circulation. Given the proximity of SHIB to an oversold state, analysts predict potential further price increases, sparking interest among investors and traders.

However, at the time of writing this report, SHIB was trading at $0.00002018 on CoinMarketCap, marking a 6.97% decrease over the past 24 hours. This temporary dip notwithstanding, the overall trend and market dynamics remain fascinating to monitor.

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2025-01-13 19:06