Fred Thiel, CEO of Marathon Digital Holdings, stated that Bitcoin mining is entering a challenging phase where only the most efficient operators with access to cheap power will remain viable. As network hashrate reaches record highs, profit margins are compressing industry-wide. According to Thiel, operational viability now depends primarily on securing low-cost energy sources as competition intensifies.

US-based Bitcoin exchange-traded funds recorded approximately $300 million in net inflows on Tuesday, ending a two-week period of net redemptions, according to SoSoValue data. Fidelity's FBTC led with $165.9 million, followed by Ark 21Shares' ARKB with $102.5 million. The shift indicates institutional investors are using recent price declines as accumulation opportunities.

Lighter, a Layer-2 decentralized exchange, has closed a $68 million funding round at a $1.5 billion valuation. Founders Fund and Ribbit Capital led the investment, with participation from Haun Ventures and Robinhood. The already-profitable platform plans to launch spot trading and pursue global expansion.

Canary Capital's spot XRP exchange-traded fund received automatic listing approval from Nasdaq on November 10 following an SEC Form 8-A filing. The ETF will trade under ticker symbol XRPC and charges a 0.50% management fee. Trading is expected to commence later this week pending a final CERT filing.

Bitcoin is consolidating near $103,000 following two major U.S. cryptocurrency developments. Bitwise launched the first U.S. Solana ETF on October 28, attracting $420 million in its debut week. SoFi Technologies became the first national bank to enable direct Bitcoin trading for 12.6 million users, marking a significant shift in mainstream crypto adoption.

The Depository Trust and Clearing Corporation has registered Bitwise's spot Chainlink exchange-traded fund in its pre-launch category under ticker symbol CLNK. The listing follows Bitwise's S-1 filing in August and Grayscale's subsequent proposal in September. Canary Capital filed its 8-A form for a spot XRP ETF on Monday, the final regulatory documentation before launch.

Several spot XRP exchange-traded funds have been listed on the DTCC platform ahead of their anticipated market debut. The products come from Canary Capital, Bitwise, CoinShares, and Franklin Templeton. ETF analyst Nate Geraci expects the funds could begin trading within two weeks, following the conclusion of SEC litigation against Ripple approximately three months ago.

Bitcoin's weekly realized profit has declined to $1-$2 billion since late September, down from over $4 billion in July when long-term holders intensified distribution, data show. CryptoQuant CEO Ki Young Ju stated the asset remains under selling pressure but could represent a strategic buying opportunity for investors with conviction in the macroeconomic outlook. The moderation in sell-side activity suggests improved macro conditions could catalyze the next upward move.