This week in crypto saw Bitcoin testing $97,000 but facing volatility, while the Sui blockchain hinted at Pokémon collaboration boosting its price. Meanwhile, confusion over the ProShares XRP ETF approval persisted, though optimism around futures ETFs remained. The SEC has delayed decisions on several crypto ETFs, including a prospective XRP ETF until June, with market speculation on future approvals.
This week in the world of cryptocurrencies has been quite eventful, with notable movements surrounding Bitcoin and XRP drawing attention. Bitcoin, testing the $97,000 mark for the first time since February 2025, retracted slightly, trading at $96,731 at the time of writing. This high volatility stems from various economic factors, including President Trump’s tariffs. Despite all this, Bitcoin is becoming a go-to option for those looking to sidestep risks tied to traditional finance and U.S. Treasury yields. Moreover, institutional interest is rising, particularly with Bitcoin ETFs seeing inflows that outpace those of Gold ETPs.
Easily the talk of the town this week has also been the speculation around a possible collaboration between the Sui blockchain and the Pokémon brand. This rumour sent the SUI token price soaring over 60% in just a week. However, speculation hit a bump when the Sui Foundation blog confirmed the removal of Pokémon NFTs from their plans. There’s talk of building a cloud infrastructure to tackle bugs and hacks via blockchain, creating compatibility across games – reminiscent of features in Pokémon Home. Currently, SUI is trading around $3.47 following a nearly 3% dip in the last day.
In another twist, there’s been chatter regarding the U.S. SEC’s (Securities and Exchange Commission) supposed approval of a ProShares XRP ETF. However, BeInCrypto clarified that no approval had occurred, but rather, the SEC had greenlit ProShares’ Leveraged and Short XRP Futures ETFs. Analyst James Seyffart weighed in, saying, “We do not have a confirmed launch date yet,” but he is optimistic about a potential launch soon. ProShares had already introduced several futures-based ETFs, including the Ultra XRP ETF and Short XRP ETF.
The approval of these XRP futures ETFs has sparked significant enthusiasm in the market, with predictions that a spot XRP ETF could trigger massive capital inflow. Analyst Armando Pantoja indicated that such a product could lead to demand reaching $100 billion, bolstering XRP’s position in the market. Pantoja highlighted how the launch of futures ETFs reshapes investor interest, making XRP more accessible to institutional players.
However, some analysts adopt a more cautious stance. For example, John Squire noted that while the futures ETF is a positive development, it alone won’t catalyse widespread adoption or dramatic price changes. He stated that the real impact is contingent on the approval of a Spot XRP ETF, which brings actual demand into play.
On a somewhat less optimistic note, the SEC has delayed its decision regarding a potential XRP ETF until mid-June. These delays were not limited to XRP, as similar decisions affecting Ethereum and Dogecoin ETFs have also been postponed. Seyffart pointed out that the SEC might still extend these deadlines, with the potential of a decision for XRP expected around mid-October. Presently, more than 70 ETF proposals wait for the regulator’s review, with market sentiment suggesting a 34% probability for an approval by the end of July and a much higher 79% chance by December 31.
In summary, the crypto landscape remains dynamic as Bitcoin continues to challenge price milestones, while XRP’s futures ETFs stir anticipation. Yet, cautious optimism reigns as market players await further regulatory clarifications from the SEC.
