JPMorgan has launched its USD-denominated deposit token, JPM Coin (JPMD), on Base Layer 2 for institutional clients following a pilot program. The token enables 24/7 blockchain settlement while representing the bank's existing deposits. Major institutions including B2C2, Coinbase, and Mastercard have completed test transactions using JPMD.

Strategy Chairman Michael Saylor refuted claims on November 15 that the company had reduced its bitcoin position. Blockchain analytics platform Arkham Intelligence later confirmed the wallet movements represented internal custodial transfers rather than asset sales.

The US Commodity Futures Trading Commission will authorize leveraged spot cryptocurrency trading on regulated domestic exchanges beginning December 2025. Acting Chair Caroline Pham disclosed that the agency is finalizing discussions with CME Group, Cboe, ICE Futures, Coinbase Derivatives, Kalshi, and Polymarket to establish margin and financing products under existing commodities regulations.

Bitcoin mining firm CleanSpark announced a private offering of $1 billion in zero-coupon convertible senior notes maturing in 2032, with initial purchasers holding an option for an additional $200 million. The Nasdaq-listed company plans to allocate approximately $400 million toward share repurchases. Remaining proceeds will support expansion of power and land assets, data center infrastructure development, and repayment of bitcoin-backed credit facilities.

The ETH2 Beacon Deposit Contract holds over 72.4 million Ether, representing approximately 60% of Ethereum's total supply, data show. The staking infrastructure now exceeds the combined holdings of all individual and institutional participants. Exchanges, Layer 2 bridges, and custody platforms control the remainder of circulating ETH.

The Depository Trust and Clearing Corporation has listed five spot XRP exchange-traded funds in its system, including products from Bitwise, Franklin Templeton, 21Shares, Canary, and CoinShares. The funds appear under the "active and pre-launch" category, signaling possible market debuts later this month pending Securities and Exchange Commission approval. Industry observers suggest the SEC's generic listing standards may enable automatic operationalization by mid-to-late November.