Solana (SOL) faces mounting challenges from declining memecoin engagement, reduced network activity, and ongoing token releases by Alameda Research. Daily active addresses have fallen to 3.3 million from over 9 million earlier in 2025, according to Glassnode and The Block. Despite these headwinds, institutional ETF inflows reached $336 million over one week, while SOL trades near the critical $140–$150 support zone.

Telcoin received final regulatory approval from Nebraska authorities to operate the first regulated digital asset bank in the United States. The authorization permits the launch of eUSD, marking it as the first bank-issued on-chain dollar stablecoin. TEL token surged over 120% intraday following the announcement before stabilizing at approximately $0.0055, reflecting an 82% gain.

Chainlink has appeared on a Depository Trust & Clearing Corporation reference list, fueling speculation about a potential exchange-traded fund for the token. The DTCC listing signals operational infrastructure preparation but does not represent regulatory approval, following a pattern seen with Bitcoin and Ethereum ETFs. Two sequential SEC approvals—exchange Rule 19b-4 authorization and issuer Form S-1 effectiveness—are required before any ETF can begin trading.

The Canary XRP ETF started trading on Nasdaq on November 13, becoming the first physically-backed XRP exchange-traded fund available to U.S. investors. The product could attract $5 billion to $10 billion in institutional inflows, according to Canary Capital CEO Steven McClurg. XRP traded at $2.35 with 24-hour volume up 43.73% at launch.

Canary Capital launched the first U.S. spot XRP exchange-traded fund under ticker XRPC on November 13, 2025. The fund recorded $26 million in trading volume within its first 30 minutes, according to Bloomberg ETF analyst Eric Balchunas. XRP rose 3% to $2.40 following the debut, while daily trading volume for the token reached $6.24 billion.

Canary Capital's spot XRP exchange-traded fund generated over $36 million in trading volume during its initial three hours on November 13, 2025. The XRPC fund traded at $25.74 as of 4:43 P.M. UTC. Bloomberg senior ETF analyst Eric Balchunas projected the product could surpass Bitwise's Solana ETF opening-day benchmark of $57 million.

The first U.S. exchange-traded fund tracking XRP launched on Nasdaq on November 13, 2025. Canary Capital's XRPC opened at $40 per share and later traded near $26.30. The fund offers regulated exposure to XRP without requiring investors to hold the digital asset directly.

Multiple asset managers have filed XRP exchange-traded fund applications scheduled for Securities and Exchange Commission review between November 13 and late November 2025. Issuers include Bitwise, Franklin Templeton, 21Shares, CoinShares, Grayscale, and WisdomTree, representing firms collectively managing approximately $1.5 trillion in assets. The compressed review timeline spans roughly two weeks across multiple prominent issuers.