Spot XRP ETF to Be Approved This Year, Says Top Analyst; US Congressman Discloses XRP, SOL and BTC Holdings; 8.32 Trillion in 24 Hours, Shiba Inu OI Surges: Crypto News Digest by U.Today
2025-01-13
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U.Today has prepared a summary of the top three news stories over the weekend.
Spot XRP ETF to be approved this year, according to top analyst
In a recent X post, prominent ETF analyst Nate Geraci shared a list of his 10 crypto ETF predictions for the year 2025. Among his insights related to leading cryptos such as Ethereum and Bitcoin, Geraci included a prediction regarding XRP, suggesting that a spot-based XRP ETF will receive approval this year. As reported by U.Today, Ripple President Monica Long recently stated that XRP would be next in line to get a spot ETF approved by the SEC following Bitcoin and Ethereum. Several XRP ETF applications are currently pending from firms such as WisdomTree, Bitwise, Canary Capital and 21Shares. However, BlackRock has ruled out pursuing additional altcoin ETFs for now, despite the success of its Bitcoin ETF. 
U.S. Congressman discloses XRP, SOL and BTC holdings
Rep. Guy Reschenthaler (R-Pa) has recently revealed his crypto purchases. According to data provided by quiverquant.com, the purchases include XRP, Solana SOLUSD and Bitcoin BTCUSD, each within the $1,000-$15,000 range. 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 significant crypto transactions. Meanwhile, the U.S. Senate plans to establish a dedicated committee for digital assets, led by Sen. Cynthia Lummis (R-Wyo), known for her ambitious Bitcoin purchase bill. The U.S. House Ethics Committee requires lawmakers to disclose cryptocurrency holdings over $1,000 in 2018. Prior to that, the cryptocurrency transactions of U.S. lawmakers were unknown since the disclosure rules for stocks and bonds did not include the newfangled asset class.
8.32 trillion in 24 hours, Shiba Inu Open Interest skyrockets
On Friday, Jan. 10, Shiba Inu experienced a rebound, with Open Interest (OI) increasing by over 36% over the course of 24 hours, as the price surpassed $0.0000211. According to CoinGlass, 8.34 trillion SHIB, valued at $181.45 million, were opened in outstanding derivatives contracts, reflecting heightened investor interest amid recent price volatility. The Gate.io exchange dominated the OI figures, accounting for over half of the total transactions, while Bitget and OKX followed in second and third place. This price recovery may be attributed to significant token burn activities, which saw 21,709,094 SHIB tokens removed from circulation. Analysts suggest that with SHIB nearing an oversold state, the asset could be primed for further price increases, generating interest among investors and traders. However, at the moment of publication, SHIB is trading at $0.00002018, down 6.97% over the past 24 hours, per CoinMarketCap.