PK Press Club – PK Press Club has prepared a summary of the three main news stories of the weekend.
Spot XRP ETF will be approved this year, says top analyst
In a recent article on regarding XRP, suggesting that a spot-based XRP ETF will receive approval this year. As reported by PK Press Club, President Monica Long recently said that XRP would be next in line to get an SEC-approved spot ETF after Bitcoin and Ethereum. Several XRP ETF applications are currently pending from companies such as WisdomTree, Bitwise, Canary Capital, and 21Shares. However, BlackRock (NYSE:) has ruled out pursuing additional altcoin ETFs for now, despite the success of its Bitcoin ETF.
US Congressman Discloses XRP, SOL and BTC Holdings
Rep. Guy Reschenthaler (R-Pa) recently revealed his cryptocurrency purchases. According to data provided by quiverquant.com, purchases include XRP (SOL) and Bitcoin (BTC), each ranging between $1,000 and $15,000. Other lawmakers, such as Mike Collins (R-Ga), have also disclosed their investments, with Collins purchasing Ski Mask Dog (SKI) earlier this year. Barry Moore (R-Al) and Jeffrey Jackson (D-NC) have also previously reported large crypto transactions. Meanwhile, the U.S. Senate is considering creating a committee dedicated to digital assets, led by Sen. Cynthia Lummis (R-Wyo.), known for her ambitious Bitcoin purchase bill. The U.S. House of Representatives Ethics Committee requires lawmakers to disclose their cryptocurrency holdings above $1,000 in 2018. Before that, U.S. lawmakers’ cryptocurrency transactions were unknown as stock disclosure rules and bonds did not include this new asset class.
8.32 trillion in 24 hours, open interest soars
On Friday, January 10, Shiba Inu saw a rebound as Open Interest (OI) increased by over 36% in 24 hours with the price surpassing $0.0000211. According to CoinGlass, 8.34 trillion SHIBs, valued at $181.45 million, have been opened in outstanding derivative contracts, reflecting increased investor interest amid recent price volatility. The Gate.io exchange dominated OI’s figures, accounting for more than half of total transactions, while Bitget and OKX followed in second and third place. This price recovery can be attributed to significant token burning activities, which saw 21,709,094 SHIB tokens removed from circulation. Analysts suggest that with SHIB close to an oversold state, the asset could be primed for further price increases, attracting interest from investors and traders. However, at press time, SHIB is trading at $0.0000, down 6.97% in the last 24 hours, according to CoinMarketCap.
