This week’s crypto highlights include Bitcoin’s test of the $97,000 mark, speculation around a Sui-Pokémon collaboration, and news about ProShares’ XRP ETF approval. Bitcoin demonstrates volatility and institutional interest, while SUI experienced a surge before corrections clarified its NFT talks. Meanwhile, XRP ETF discussions spark optimism, despite the SEC delaying decisions on various ETFs until later this year.
This week in the crypto world, key developments mainly revolved around Bitcoin and the XRP ecosystem, amidst various other happenings. Here’s your quick summary of the most significant stories that emerged from the crypto sphere.
Bitcoin recently tested the impressive $97,000 mark for the first time since February 2025. However, shortly after this surge, BTC retreated to around $96,731. The cryptocurrency has shown remarkable volatility recently, often responding to geopolitical disruptions and ongoing market chaos tied to President Trump’s tariffs. This has heightened Bitcoin’s status as a safe haven against traditional financial risks, and institutional interest is on the rise, evidenced by increased inflows into Bitcoin ETFs compared to gold ETPs, which are lagging behind.
A notable highlight this week involved speculation regarding a potential collaboration between the Sui blockchain and Pokémon. Following these discussions, the SUI price skyrocketed, increasing by over 60% in just a week. However, further clarification came from one of the circulating documents, as the official Sui Foundation blog removed references to Pokémon NFTs, stating they’re developing a blockchain-based cloud infrastructure to tackle issues like bugs and hacks for compatible games. Despite this correction, interest remains around the potential involvement of Parasol in the development of new Pokémon features. Currently, SUI is trading at roughly $3.47, down about 3% in the last 24 hours.
Further speculation arose around a potential ProShares XRP ETF. Rumours suggested that the US SEC had granted approval for this ETF, but BeInCrypto quickly refuted these claims, revealing instead that the SEC had approved ProShares’ Leveraged and Short XRP Futures ETFs. ETF analyst James Seyffart chimed in, clarifying that while there’s no confirmed launch date yet, they expect ProShares to launch these funds soon. ProShares recently introduced three new futures ETFs: the Ultra XRP ETF, the Short XRP ETF, and the Ultra Short XRP ETF, following earlier launches like Teucrium’s 2x Long Daily XRP ETF in April.
The excitement surrounding ProShares’ XRP futures ETF has created a sense of optimism in the market, with many speculating that this could pave the way for a spot XRP ETF, potentially flooding the market with billions. Industry expert Armando Pantoja suggested that approval of a spot ETF could unleash real demand for XRP, boosting investment significantly. He noted that the futures ETF represents a substantial shift for XRP, providing easier access for institutional investors.
Despite all this buzz, some analysts remain cautious. One pointed out that while futures ETFs are positive, they won’t likely trigger the massive market shifts people expect. Instead, he identified the need for a spot XRP ETF to drive real demand and impact prices significantly. Meanwhile, the SEC has postponed its decision on the prospective XRP ETF until June 17, potentially delaying final verdicts on several ETF proposals that include popular cryptocurrencies like Ethereum and Dogecoin. Seyffart mentioned that given the current landscape, we might not see final decisions until the fourth quarter, with the XRP spot ETF decision possibly falling around mid-October. As of now, bettors estimate a 34% chance of approval by July 31, climbing to 79% approval by the end of December.
In summary, this week showcased significant activity in the crypto space, particularly surrounding Bitcoin and XRP, setting the stage for what could be an exciting next few months in the world of digital currencies.
