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Bloomberg analysts Eric Balchunas and James Seyffart are expecting a wave of new cryptocurrency-based ETFs next year after leadership takes over at the SEC.Both predict that a host of new ETFs could launch including a bitcoin and ether combo ETF, Litecoin and HBAR funds, and then eventually spot funds for Solana and XRP.
Quick Take Ethereum Name Service will use Linea’s technology to develop its own Layer 2 network called Namechain.
Quick Take Polygon community members rejected a preliminary proposal to deploy over $1 billion in stablecoin from the PoS Chain bridge for yield generation. Following community feedback, Polygon acknowledged these concerns and decided not to advance the proposal but remained open to exploring innovative ideas in the future.
Quick Take Donald Trump-backed DeFi platform World Liberty Financial and Ethena are planning a “long-term collaboration” starting with implementing the yield-bearing token, sUSDe. World Liberty Financial’s governance will be asked to decide on the implementation this week.
Meme coins like Dogecoin, Shiba Inu, and Pepe show mixed performance. Bitcoin reaches a new all-time high, trading at $107,487. The market outlook for meme coins remains uncertain, with the potential for further decline.
Quick Take Exodus Movement’s stock was listed on the New York Stock Exchange sister company, NYSE American, on Wednesday. EXOD stock is up over 37% as the trading day ends.
Quick Take “We’re not allowed to own bitcoin,” Federal Reserve Chair Jerome Powell said during a news conference on Wednesday. In Congress, Sen. Cynthia Lummis, R-Wyo., has a draft bill circulating that would direct the U.S. Treasury to buy one million bitcoin over a period of five years.
- 23:28The trend of slow and steady bond selling in the United States may continueGolden Finance reports that UBS Group strategist Bhanu Baweja and others have stated that the sale of US bonds since September has been characterized by a "slow and steady" nature, which should "cause concern for bond bulls". "Volatility remains low, although there are concerns, there is no panic," they wrote in the report. They warned that "the slow oscillating nature of the sell-off could mean it may continue."
- 23:01Bloomberg Analyst: Litecoin ETF Has Fulfilled All Conditions, May Become First Torrent ETF in 2025Eric Balchunas, Senior ETF Analyst at Bloomberg, said in a social media post, “The Litecoin ETF has now met all the conditions and the countdown is on for the first Walled Coin ETF in 2025. I don't see any reason to withdraw the application, especially since the SEC has commented on the S-1 filing, Litecoin is considered a commodity, and the SEC has new leadership.”
- 23:0197.3% probability that the Fed will leave interest rates unchanged in JanuaryAccording to the CME “Fed Watch”, the probability that the Fed will keep interest rates unchanged in January is 97.3%, and the probability of cutting rates by 25 basis points is 2.7%. The probability of keeping the current interest rate unchanged in March is 70.1%, the probability of a cumulative 25 basis point cut is 29.2%, and the probability of a cumulative 50 basis point cut is 0.7%.