XRP News Today: Crypto Market Turbulence Rises as SEC Alters Regulations and Major Whale Closes Short Position
- A "Triple Short ASTER" whale liquidated a 4.79M AST short position, triggering crypto market volatility and $10M+ in ETH/XRP losses. - XRP dropped to $2.40 amid Canary Capital's ETF launch, while ETH longs face losses from SEC's accelerated crypto ETF approval process. - SEC's 20-day ETF filing rule and 21Shares' crypto index ETFs (TTOP/TXBC) highlight growing institutional exposure and regulatory uncertainty. - Market analysts link whale activity to broader trends in derivatives trading, ETF adoption, a
A prominent figure in the crypto market, often referred to as the "Triple Short ASTER" whale, has closed out a $4.79 million short position in the AST token, sparking heightened volatility throughout the digital asset markets. This event has coincided with steep unrealized losses for
The ASTER short, which had been in place for several months, was reportedly closed following a rapid price surge in the token. Although the whale’s identity remains a mystery, the liquidation is believed to be part of a larger "triple short" approach that utilized various derivatives platforms.
XRP has been hit particularly hard, with its value falling to $2.40 per token after a 6% drop in just one day. This downturn comes as Canary Capital’s
The U.S. Securities and Exchange Commission (SEC) has released new guidance that allows crypto ETF applications to become effective 20 days after filing, without the need for amendments. This update comes after the resolution of a government shutdown that had stalled over 900 applications, including those for crypto ETFs. The new rules have paved the way for BlackRock’s Bitcoin ETF and other altcoin-focused products to move forward, creating a regulatory climate that may further unsettle long positions in assets like XRP and ETH
Industry observers are also monitoring the launch of the first crypto market index ETFs under the U.S. Investment Company Act of 1940 by 21Shares. The 21Shares FTSE Crypto 10 Index ETF (TTOP) and the FTSE Crypto 10 ex-BTC Index ETF (TXBC) offer diversified exposure to the top 10 cryptocurrencies, with the latter excluding Bitcoin. These funds, which have management fees of 0.50% and 0.65% respectively, signal increasing institutional interest in digital assets and
The closure of the ASTER short position has also overlapped with broader market movements, including the SEC’s ongoing examination of crypto assets and the introduction of new ETF offerings. Despite the uncertain regulatory backdrop,
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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