The crypto market is starting to find its balance as new Securities and Exchange Commission (SEC) chairman Paul Atkins settles into office in Gary Gensler’s place. With him comes hope for long-overdue regulatory transparency for the industry and the potential approval of exchange-traded funds (ETFs).
After two SEC crypto roundtable meetings, the third one is set to take place today, April 25. While the previous discussions failed to bring any major shifts in the crypto landscape, there’s hope that this one could lead to meaningful change as Paul will be in attendance.
Bitcoin (BTC)
Bitcoin has recently surged past $90,000 to be priced at $94,657, after a 2.13% increase in the past day and an 11% increase in the last 7 days. With this spike, Ali Martinez has reported that miners locked in over $18.57 million in profits as prices surged past $93,000.
Also, institutional demand for BTC is on the rise, with Cantor Fitzgerald’s $3.6 billion crypto fund, Twenty One Capital, seeking to purchase over 42,000 BTC. Metaplanet is also close to its goal of purchasing 21,000 BTC by 2026 after it had accumulated 5,000 BTC in its treasury this week, placing it as the 11th largest holder of BTC.
As noted in a new report by CNF, the Federal Reserve Board has officially rescinded two key supervisory letters sent to U.S. banks in 2022 and 2023. The action, following the resignation of an anti-crypto Fed official, now allows U.S. banks to engage in crypto activities.
Solana (SOL)
Solana is gaining momentum, with analysts anticipating a potential rally toward the end of the month as it comes out of its downtrend. Crypto News Flash recently reported that Sol Strategies, a Canadian investment firm, teamed up with Tetra Trust for secure staking of Solana. Just yesterday, Sol Strategies committed to the Solana blockchain ecosystem with a $500 million financing facility for validator operations through a convertible note agreement with ATW Partners.
Optimism in Solana is also fueled by expectations of a spot Solana ETF under Donald Trump’s administration, which can attract $3-$6 billion in inflows. Asset managers like Franklin Templeton, Grayscale, and VanEck have filed for the ETF with the SEC as it gains traction due to its high-throughput and monolithic architecture. Solana is trading at $154, having appreciated 4.30% over the last day and a massive 14.77% over the last week.
Ripple (XRP)
According to CNF’s latest updates regarding the Ripple vs. SEC case, a legal expert predicts a reduction in the fine to $10M from $125M, removing a major obstacle to XRP’s regulatory clarity. Ripple’s market cap has accordingly increased to $128 billion, making it the fourth-largest cryptocurrency after Tether (USDT).
Other than that, the scheduled launch of cash-settled XRP futures contracts by CME Group on May 19, 2025, is likely to attract growing institutional interest and also feed greater trading volumes. Before then, analyst Ali Martinez believes that “$XRP appears to be forming an inverse head and shoulders pattern, preparing for a breakout bullish towards $2.70.” Meanwhile, open interest in XRP has slightly increased by 2.66%, reaching $4.00 billion as it trades at $2.19.