21Shares has secured regulatory clearance to begin trading its U.S. spot XRP ETF on Monday under ticker TOXR. The launch follows $666 million in net inflows across existing XRP ETFs since their debut, with no recorded outflow days. Total assets under management have reached $687.81 million, representing approximately 0.52% of XRP's market capitalization.

Derivatives trading on lower-cap cryptocurrencies has reached levels that significantly outpace underlying valuations, creating conditions for potential cascading liquidations. Data from research firm Alpharactal shows open interest ratios climbing to dangerous thresholds, with several tokens now carrying futures exposure larger than their entire market capitalization. When open interest grows while market cap remains constrained, the price discovery mechanism shifts from organic demand to leveraged speculation.

A wallet linked to Ethereum's 2014 initial coin offering transferred $60 million in ETH to exchanges this week, extending a gradual sell-off that started in September. On-chain data shows the top 1% of Ethereum addresses now control 97.6% of circulating supply, up from 96.1% a year ago, reflecting sustained accumulation by large holders during the recent market downturn.

Amundi has transformed its €5 billion CASH EUR money market fund into blockchain-compatible units on Ethereum. The tokenized format allows investors to buy and redeem shares around the clock, bypassing traditional settlement windows. CACEIS handles the technical infrastructure, enabling 24/7 processing and stablecoin payments.

Max Keiser attributes Bitcoin's recent pullback to mechanical constraints in derivatives markets rather than weakening demand. Nasdaq has filed to raise IBIT options contract limits to 1 million, a roughly fortyfold increase that could remove liquidity bottlenecks previously limiting institutional participation. The expansion enables banks to structure investment products using Bitcoin as collateral without exhausting risk limits.

Bitcoin's 2-year rolling MVRV Z-Score has dropped to its lowest level on record, according to analyst Michael van de Poppe. The metric has fallen below previous lows seen during the March 2020 crash, November 2022 FTX collapse, and December 2018 bear market. The indicator measures the gap between Bitcoin's market value and realized value, showing most holders currently carry unrealized losses.

The Bank for International Settlements has warned that tokenized money-market funds pose potential systemic risks after expanding from $770 million to nearly $9 billion in under a year. The organization cited concerns that instant on-chain settlement could outpace traditional asset liquidation during redemption surges, potentially creating liquidity mismatches. BIS also noted that some tokenized funds now serve as collateral for leveraged positions, which could enable rapid contagion across crypto sectors during periods of stress.

Bitcoin derivatives traders are positioning for opposing outcomes ahead of a major options expiry. One group is establishing downside hedges below $85,000, while another is accumulating longer-dated call options targeting $102,000–$105,000. Approximately $13.74 billion in BTC options contracts are scheduled to expire on November 28, representing one of the largest settlement events of the year. Open interest on Deribit has reached a record $43 billion.

Cathie Wood's Ark Invest purchased more than 62,000 Coinbase shares worth over $16 million across three flagship funds on Wednesday. The firm simultaneously added approximately 39,400 shares of the Ark-21Shares Bitcoin ETF. Coinbase now represents more than 5% of the ARK Innovation ETF portfolio.