Bernstein: Approval of Ethereum Spot ETF Will Raise Market Expectations for Solana and Other Crypto Assets to Be Classified as Commodities

The cryptocurrency boom has cooled rapidly, and the leveraged nature of treasury stocks has amplified losses, causing the market value of the giant whale Strategy to nearly halve. Well-known short sellers have closed out their positions and exited, while some investors are buying the dip.

The platforms building this layer of infrastructure are creating a permanent market architecture tailored to the way retail investors operate.

The company raised funds at a valuation of $40 billions, but it already holds $80 billions worth of $XRP.