New Hampshire's Business Finance Authority has approved a $100 million municipal bond collateralized by Bitcoin, marking the first U.S. state-level debt instrument of its kind. The conduit bond allows borrowers to access capital by pledging over-collateralized Bitcoin held in private custody. Liquidation protections activate if collateral values decline below specified thresholds.

The Office of the Comptroller of the Currency issued interpretive guidance on November 18, 2025, permitting national banks to hold digital assets on balance sheets for blockchain network fee payments. The agency confirmed banks may retain cryptocurrencies for testing crypto-related platforms and facilitating permissible activities. The guidance marks a departure from restrictions implemented during the Biden administration.

BlackRock's spot Bitcoin exchange-traded fund experienced $1.26 billion in net redemptions during November 2025, marking its largest monthly outflow since launching in January 2024. The fund's share price dropped over 16% to $52, the lowest level since late April 2024. Institutional investors withdrew capital amid fiscal uncertainty and elevated interest rate expectations, according to MarketChameleon data.

VanEck introduced its spot Solana exchange-traded fund under ticker VSOL on Monday, becoming the third such product in the U.S. market. The fund waives its 0.3% management fee until February 17 or until reaching $1 billion in assets. Grayscale's Dogecoin ETF is scheduled to begin trading on November 24, marking the first memecoin-focused ETF in the United States.

The Crypto Fear & Greed Index fell to 10 on Saturday, its lowest reading since February 27. Bitcoin traded at $95,778, declining 1.5% in 24 hours and over 6.3% across the previous week. The drop occurred amid ongoing macroeconomic uncertainty and heightened investor anxiety.

Market expectations for a 25-basis-point Federal Reserve rate cut in December have declined to 44.4%, down from 94.2% in mid-October, according to CME Group data. Fed Chair Jerome Powell indicated that uncertainty persists regarding the December policy decision. The probability of maintaining current rates has risen to 55.6%.

Canary Capital's XRP exchange-traded fund drew $243 million in net inflows during its November 13, 2025 Nasdaq debut, generating $58 million in first-day trading volume. The launch surpassed previous 2025 ETF records while Bitcoin and Ethereum funds experienced outflows of $492 million and $177 million respectively. Bitcoin fell below $100,000 as the crypto market faced broader selling pressure.

Uniswap introduced its Continuous Clearing Auctions (CCA) protocol on November 13, 2025, designed to streamline token launches on its decentralized exchange. The mechanism aims to address liquidity challenges and transparency issues in traditional token launch methods. Aztec Network became the first project to utilize CCA, launching as a privacy-focused Layer 2 solution on Ethereum. The protocol conducts continuous clearing processes that distribute token supply gradually over time through on-chain auctions.

Long-term Bitcoin holders have sold approximately 815,000 BTC over the past 30 days, the highest selling level since January 2024, data show. The selloff coincides with declining spot demand and net outflows from BTC ETFs. Net realized losses remain virtually non-existent, suggesting holders have not panicked.