DTCC Listings and Spot XRP ETFs

The Depository Trust and Clearing Corporation (DTCC) has added the following spot XRP ETFs to its list:

• Franklin XRP Trust (XRPZ)
• 21Shares XRP ETF (TOXR)
• Bitwise XRP ETF (XRP)
• Canary XRP ETF (XRPC)
• CoinShares XRP ETF (XRPL)

This step is considered a significant preparatory move toward making spot XRP ETFs available to U.S. investors. Market participants see the listing as a potential signal of an accelerated ETF approval process.

Canary Capital CEO Steven McClurg stated at Ripple Swell 2025 that after successfully launching Litecoin and Hedera ETFs, the company plans to launch the XRPC fund. McClurg noted that the ETF could go live within 20 days with no delays. WisdomTree’s XRP ETF is also expected to join the other funds on DTCC shortly.

Rising Demand and Market Dynamics

Demand for spot XRP ETFs is growing. Earlier this year, products like Teucrium’s 2x Long Daily XRP ETF (XXRP) and ProShares Ultra XRP ETF (UXRP) were launched. XXRP raised roughly $306 million in net assets in less than a year, demonstrating strong investor appetite for leveraged XRP exposure.

Solana and XRP futures are among the fastest-growing crypto products on the CME Group. Leveraging the infrastructure and liquidity developments of Bitcoin and Ethereum derivatives, these products support increased market participation and popular trading strategies. The SEC’s “General Listing Standards” adopted in September also provide regulations to speed up ETF approval processes.

Grayscale and Market Expectations

Grayscale aims to convert its existing XRP Trust into a spot XRP ETF. Since its launch in September, the Trust has amassed around $14 million in assets under management. These developments indicate rising investor appetite and growing innovation in digital asset markets. The surge in spot XRP ETF applications is viewed as a positive indicator of institutional investor interest.

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What is Grayscale GSOL?

Its basic logic is essentially the same as a spot ETF. In other words, investors do not need to directly purchase Solana, nor deal with various security risks, wallet management, or storage issues. Instead, they can invest in a product that mirrors Solana’s price movements. However, this product is not yet a fully approved spot ETF. Grayscale has already initiated the process to convert this trust into a spot ETF.

The Solana Ecosystem is Growing

Solana, with its high-performance transaction capacity and low-cost infrastructure, stands out as an ideal blockchain network for staking-focused investment products. The launch of GSOL is seen as an important step in Solana’s institutional adoption journey.

The staking mechanism within the network allows investors to earn passive income while strengthening the blockchain’s security and transaction validation. This makes Solana not only attractive for individual investors but also a compelling option for ETF-based professional funds.

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Institutional Exposure Drops Sharply

According to a new report by CoinShares, institutional exposure to Bitcoin ETFs dropped from $27.4 billion in Q4 2024 to $21.2 billion in Q1 2025 — a 23% decline.

However, this decrease was largely driven by an 11% drop in Bitcoin’s price rather than widespread selling. Still, some investors did actively reduce their positions, contributing to the overall decline.

Financial Advisors Buck The Trend

Interestingly, financial advisors went against the broader trend, slightly increasing their Bitcoin ETF holdings during the same period. The report suggests a shift from short-term profit-seeking to long-term reserve and treasury strategies, particularly among corporations.

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While professional money managers pulled back, companies continued accumulating Bitcoin for their treasuries, suggesting growing confidence in its role as a store of value.

BlackRock ETF Faces Record Outflow

On May 30, BlackRock’s iShares Bitcoin Trust (IBIT) experienced a record $430 million in outflows — a sharp reversal after 31 consecutive days of inflows. This marks a moment of reevaluation in institutional trust in ETFs.

Despite that, corporate treasuries holding Bitcoin grew to over 1.98 million BTC by the end of Q1, up 18.6% year-to-date. According to SaylorTracker, Strategy acquired 15,355 BTC on April 28 alone and has accumulated BTC in 17 of the 20 weeks leading up to June 2025.

Some analysts believe Bitcoin’s long-term gains may be fueled more by weakening demand for US bonds than by ETF inflows, indicating a shift in macroeconomic investment logic.

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The PurposeBuilt Fund will invest in projects in gaming, financial services, payment systems, and artificial intelligence, targeting ventures at pre- or post-token generation event (TGE) stages. The fund prioritizes long-term value and utility over short-term speculation. 

DAAF stands out as one of the top-performing directional liquid token funds in the market. Launched in 2022, the fund has focused on liquid token investments based on scalability, economic alignment, and real adoption. It now brings the same approach to the Avalanche ecosystem. 

VanEck Web3 Vision

VanEck’s portfolio manager, Pranav Kanade, stated: 

“The next wave of value in crypto will come from real businesses, not more infrastructure. Avalanche has become a magnet for thoughtful builders. With the PurposeBuilt Fund, we’re bringing capital and conviction to founders. We’re not chasing momentum. We’re building lasting value.” 

Avalanche’s ecosystem is currently valued at approximately $50 billion. The VanEck team notes that the number of developers building significant projects on this network is rapidly increasing. Developers are creating on-chain economic activities while pioneering new markets. 

The PurposeBuilt Fund reflects VanEck’s “GDP on-chain” vision. According to the firm, blockchain technology will become central to global economic and financial systems. Projects aligned with this vision are expected to be the most resilient. 

John Nahas, Chief Operating Officer of Ava Labs, commented on the development: 

“VanEck’s launch of the PurposeBuilt Fund marks a significant moment for the Avalanche ecosystem. We’re seeing a shift from speculative hype to real utility and sustainable token economies. VanEck’s fund brings the kind of long-term capital and strategic conviction that founders need to lead this transition. This fund reinforces Avalanche’s strength as a hub for serious builders.” 

The fund focuses on long-term value rather than short-term gains. This strategy aims to build a sustainable structure in the Web3 world. VanEck seeks to provide capital to projects with real-world applications and tangible benefits. In this context, it is targeting real-world asset (RWA) solutions like Avalanche’s tokenized money market funds. This approach both provides liquidity and grows the network’s internal economy. 

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The ETF will track the spot market price of SEI as determined by CoinDesk Indices, and its Net Asset Value (NAV) will be published daily at 4 PM New York time. It will not use derivatives but instead hold actual SEI tokens in custody.

Earn Rewards Through SEI Staking

Custody of SEI tokens will be managed by BitGo Trust Company and Coinbase Custody Trust Company. While not insured by the FDIC, both custodians maintain private insurance policies to mitigate risks.

This ETF simplifies SEI investment for regular investors, eliminating the need for blockchain knowledge, private key management, or staking know-how. One of its standout features is its integration with staking, allowing the fund to earn additional SEI rewards via the proof-of-stake (PoS) mechanism of the Sei Network.

Canary Capital is also pursuing other crypto ETFs, including a TRX-backed fund. While the SEI ETF is still pending SEC approval, its launch could mark a significant step forward in making digital assets accessible through mainstream investment platforms.

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The post Canary Capital Files for First-Ever Staked SEI ETF With SEC appeared first on Coin Engineer.

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Initially raising $200 million in January, the SPAC will help establish 21 Capital, a firm converting Bitcoin into equity at a projected value of $85,000 per BTC — echoing MicroStrategy’s strategy of using BTC as a balance sheet asset.

Institutional Strength Behind the Move

Tether is contributing $1.5 billion, Bitfinex adds $600 million, and SoftBank commits $900 million to the venture. An additional $550 million is expected to be raised via bonds and private equity to further expand the BTC holdings.

The announcement comes amid a new wave of institutional crypto optimism under the Trump administration, with Bitcoin trading near $92,000 and regulatory sentiment turning more favorable. This move is expected to be officially announced in the coming weeks.

Howard Lutnick, once skeptical of Tether’s liquidity, has taken a softer tone recently, especially during Senate testimonies. His firm, Cantor Fitzgerald, currently holds a large share of Tether’s U.S. Treasury reserves, indicating strong ties to the stablecoin giant.

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Besides its spot bitcoin ETF, which has more than $350 million under management, according to The Block Data Dashboard, the company has also applied to list a spot ether ETF.

With this new crypto fund, if launched, Franklin Templeton is considering offering staking rewards as part of the fund, the report said. When spot Ethereum ETFs gained initial approval last month, staking rewards were not included in the proposed financial instruments.

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Franklin Templeton did not immediately respond to The Block’s request for comment.

While Franklin Templeton’s spot bitcoin ETF’s success pales in comparison to the products offered by BlackRock and Fidelity, the firm is keen to expand its digital assets business outside the U.S., according to the report.

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Pantera Capital, a US-based crypto-focused investment firm, is reportedly planning to launch a $1 billion crypto fund. The news was first reported by The Block and Bloomberg, with details indicating that the fund will focus on startup equities, early-stage tokens, liquid tokens, and other cryptocurrencies.

If the firm manages to raise the targeted amount, the fund would be the largest crypto fund launched since the 2022 market downturn. Pantera’s previous fund, launched two years ago, successfully raised $1.25 billion.

A Pantera source speaking to The Block clarified that the upcoming Pantera Fund V is entirely separate from the fund launched two years ago. An official announcement regarding the new fund is yet to be made.

Pantera, which currently manages $5.2 billion in assets, has invested in over 180 startup projects to date.

“Bear Market is Over”

Notably, Pantera Capital released a significant report last week, claiming that the bear market for cryptocurrencies is over. The firm asserted that the surge in interest in ETFs is just the beginning and predicted that the next 18-24 months will witness significant growth.

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