The dYdX protocol has approved a governance proposal to allocate 75% of net protocol revenue toward DYDX token buybacks, up from 25%. The measure passed with 59.38% approval on November 13 and aims to enhance value capture for token holders. The decision comes as the platform prepares to launch spot trading services for US users by year-end.

Canary Capital launched the first spot exchange-traded fund backed entirely by XRP on November 13, 2025. The U.S. Securities and Exchange Commission approved the fund, which trades under the ticker symbol XRPC on Nasdaq. XRP established support at $2.10 following recent Federal Reserve commentary that influenced broader cryptocurrency markets.

VanEck has filed an 8-A form with the SEC for its VSOL Solana spot ETF, signaling an imminent launch following its October S-1 submission. As of November 2025, four Solana ETFs are active with another 10 pending approval. These products have recorded $369M in total net inflows, including $18.1M in the most recent trading session.

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.