Ethereum

Asset manager 21Shares has filed an amended prospectus with the Securities and Exchange Commission, initiating a 20-day regulatory countdown under Section 8(a) for its spot XRP exchange-traded fund. Canary Capital's XRP ETF proposal has entered a parallel review window. Both filings signal competitive momentum toward potential approval of XRP investment vehicles in the United States.

21Shares filed Form S-1 Amendment No. 3 for a spot XRP exchange-traded fund on November 8, 2025, according to Bloomberg analyst Eric Balchunas. The submission initiates a 20-day SEC review period under Section 8(a) of the U.S. Securities Act. If no objections emerge, the ETF could become effective automatically, potentially opening institutional access to XRP.

21Shares submitted a Form 8(a) filing with the SEC on November 7, 2025, initiating a 20-day automatic approval countdown for its spot XRP ETF. The fund would trade on Cboe BZX and track the CME CF XRP Dollar Reference Rate. Unless the regulator intervenes, the product could launch around November 27.

Ethereum climbed to nearly $3,500 on November 8 after falling to $3,200 earlier in the day, gaining 4.5%. Analyst Ali Martinez projects ETH could eventually reach $10,000, but suggests the token may first need to drop to $2,000 to flush out weak holders. US spot Ethereum ETFs recorded net outflows of $507.7 million over the past week.

U.S. District Judge Jessica G.L. Clarke declared a mistrial after jurors failed to reach a verdict on fraud charges against Anton and James Peraire-Bueno, who allegedly exploited Ethereum blockchain vulnerabilities to extract $25 million in a 12-second transaction. Prosecutors accused the MIT-educated brothers of manipulating validator software, while defense attorneys characterized their trading strategy as innovative and legally competitive.

JPMorgan Chase expanded its position in BlackRock's iShares Bitcoin Trust by approximately 2.07 million shares during the third quarter, reaching a total of 5.28 million shares valued at around $333 million as of September 30. The bank's ethereum ETF allocation remained minimal at 66 shares worth approximately $1,700. The expansion comes as JPMorgan analysts project bitcoin could reach $170,000 within six to 12 months.

A cryptocurrency trader deposited $2.43 million USDC into Hyperliquid and opened a 20x leveraged long position on 13,976 ETH, creating $42.9 million in total exposure, according to on-chain data. The position faces liquidation at $3,311.7, with ETH currently trading around $3,429. This provides only a 3.4% margin before automatic liquidation would occur.

Kazakhstan will establish a national cryptocurrency reserve holding $500 million to $1 billion in digital assets by January 2026. The fund will comprise confiscated cryptocurrencies, crypto ETFs, and equity stakes in blockchain companies, according to National Bank of Kazakhstan Chairman Timur Suleimenov. President Kassym-Jomart Tokayev ordered the reserve's creation in September 2025 as part of efforts to liberalize the domestic cryptocurrency market.

Leading decentralized applications are generating more fee revenue than their underlying blockchains. PumpFun accumulated $724 million in fees over the past year, while Hyperliquid earned $667 million, both exceeding Solana's $632 million in fees, data show. The trend highlights a fundamental shift in value capture within blockchain ecosystems.

Solana-based applications generated $4.33 million in revenue over a 24-hour period, outpacing Ethereum's $1.82 million, data show. The shift occurred as SOL fell 5.4% and ETH dropped 4.47% during the same timeframe. Hyperliquid also exceeded Ethereum with $3.85 million in app revenue.