Bitwise Asset Management launched a Dogecoin exchange-traded fund on November 26, 2025, trading under ticker BWOW on the New York Stock Exchange. The fund provides institutional access to Dogecoin, the seventh-largest cryptocurrency with approximately $22 billion in market capitalization and $1 billion in daily trading volume. The ETF carries a 0.34% management fee, waived for the first month on initial assets up to $500 million.

The Monad blockchain experienced fraudulent ERC-20 transfer activity less than two days after its mainnet launch. Attackers exploited the token standard to generate fake transaction records on block explorers, creating misleading wallet activity without moving actual funds or obtaining user signatures. James Hunsaker, CTO and co-founder of Monad, confirmed the issue stems from the ERC-20 interface standard rather than network vulnerabilities.

U.S.-listed spot Bitcoin exchange-traded funds recorded $129 million in net inflows on November 25, while Ethereum-focused ETFs attracted $78 million. Fidelity's Bitcoin fund led with $170.80 million in inflows, and BlackRock's Ethereum trust topped Ether products with $46.09 million. The inflows marked the third consecutive day of positive flows for Ethereum funds.

Texas completed a $5 million purchase of BlackRock's iShares Bitcoin Trust on November 20, with an additional $5 million allocated for direct Bitcoin acquisition. Lee Bratcher of the Texas Blockchain Council confirmed the two-phase approach, stating the ETF position serves as an interim step pending custody infrastructure completion. The $10 million total allocation comes from state general revenue under a framework approved in June that permits digital asset holdings exceeding $500 billion in market capitalization.

Venture funding for digital asset startups reached $4.65 billion in Q3 2025, a 290% increase from the prior quarter and the second-highest total since Q1 2023, data show. Investment concentrated in stablecoins, AI-integrated blockchain tools, and infrastructure projects. The United States accounted for 47% of deployed capital and 40% of completed deals during the period.

An anonymous Hyperliquid trader who generated nearly $200 million in profits during the October 10 market downturn has expanded their Ether long position to $44.5 million. The whale added $10 million to the position on Monday, gaining over $300,000 within the first hour, data show.

The U.S. Securities and Exchange Commission issued a no-action letter to Fuse, a Solana-based decentralized physical infrastructure network project, confirming it will not pursue enforcement action against the FUSE token if sold as outlined. Deputy chief counsel Jonathan Ingram signed the letter on November 24, 2025. The decision marks the second DePIN project to receive such regulatory relief in recent months, following a similar approval granted to Double Zero in August 2025.

Six major Japanese asset management firms are developing cryptocurrency investment trust products in anticipation of regulatory changes expected by 2026. The Financial Services Agency plans to reclassify digital assets under financial securities law, enabling investment trusts and implementing a 20% tax rate on crypto gains. SBI Global Asset Management aims to achieve ¥5 trillion in crypto assets under management within three years.

Bitcoin is pulling back toward multi-month lows as the drivers behind its October rally have reversed, NYDIG reports. Spot ETF flows have turned negative, digital asset treasury premiums have compressed, and stablecoin supply has declined for the first time in months. NYDIG's head of research characterized the shift as "actual capital flight."