Stablecoins record ammost $10B inflows. Bitwise registers Solana ETF

Hey, traders! 👋

This week has brought us plenty of optimistic news, especially regarding potential U.S. crypto adoption and the overall future market performance. Let’s dive into the most exciting updates to stay informed in the ever-evolving Web3 industry 👇

quick weekly news

Stablecoins record $9.7B inflows. BTC to 100K?

Over the past 30 days, stablecoins have seen a record $9.7B in inflows to crypto exchanges, according to data from Leon Waidmann.

The last time such a significant amount of stablecoin inflows was recorded was during the 2021 bull run, which implicitly signals incoming buying pressure and growing investor appetite. These assumptions are largely supported by patterns where Tether mints substantial amounts of stablecoins on-chain, often indicating that large investors are preparing to enter the Web3 industry. Shortly afterward, Bitcoin and the broader crypto market frequently experience significant price surges or corrections. For example, between August 5 and August 9, 2021, Bitcoin recovered from $49K to $60K in just four days.

This surge in stablecoin activity coincides with Bitcoin approaching the psychological $100,000 mark, climbing to $98,000 today. Interestingly, just a week ago, when Bitcoin crossed $90K, Bernstein analysts declared that the bull market had already begun, encouraging investors to accumulate as many assets as possible.

Source: GoodCrypto

Bitwise registers Solana ETF in US state of Delaware

On November 20th, Bitwise, the leading asset management company in the US, registered a statutory trust for a Solana ETF in Delaware. While the company still needs to file S-1 and 19b-4 forms to officially apply for its own Solana ETF registration, these moves signify serious intentions to launch a Solana ETF. To recall, Bitwise has been applying for an XRP ETF in the same manner on October 1st.

If successful, Bitwise will be the third company to join the race alongside VanEck and Canary Capital crypto funds. Furthermore, although Solana ETFs haven’t been announced yet on the stock exchanges, Bitwise’s BTC and ETH ETFs are already listed on the New York Stock Exchange Arca.

Matthew Sigel, head of digital asset research at VanEck, even claimed that the approval of a Solana ETF by the end of 2025 is “overwhelmingly high.” Nevertheless, some industry KOLs suggest that even if such an event occurs, they expect much smaller inflows into Solana ETFs compared to Bitcoin or Ethereum.

Trump mulls creating first White House crypto post: Report

On November 20th, Bloomberg reported that President-elect Donald Trump is considering creating a cryptocurrency-related position in the White House—the first of its kind in U.S. history. This proposed role would involve leading a small staff and acting as a liaison between Congress, the White House, and other agencies with jurisdiction over cryptocurrency, including the SEC and the CFTC. However, it is still unclear whether this position would be a White House staff role or a “crypto czar” focused on shaping more effective policies and regulations for the cryptocurrency space in the U.S.

Riding the wave of increased attention to cryptocurrencies, some web3 companies have begun advocating for the new crypto role assigner to have direct access to Donald Trump. Still, there is no certainty that such a role will materialize. According to Bloomberg, the Trump administration is still debating whether this position is necessary.

Adding more bullish sentiment for crypto in the U.S., Bloomberg highlighted Trump’s vow to fire current SEC Chair Gary Gensler and replace him with someone more favorable to the crypto industry. The news agency also mentioned that a potential candidate for the SEC role could be Brian Brooks, the former executive at Coinbase Global Inc. and Binance.US, who met with Trump this past Tuesday. However, it is also possible that Brooks’s expertise could be utilized in the new White House crypto position.

Trump Said to Consider Crypto Lawyer Teresa Goody Guillén to Lead SEC

Adding more attention to the potential candidates for the role of SEC Chair, Donald Trump is considering crypto lawyer Teresa Goody Guillén for the position, stating she would be “an instant change-maker.”

Teresa Goody Guillén is a former SEC member, a partner at the law firm BakerHostetler, and co-lead of the firm’s blockchain practice. She is well-known across the crypto industry, primarily for her work opposing SEC actions on behalf of blockchain companies and traditional Wall Street firms.

As a result, some in the crypto industry have actively advocated for her, claiming she is one of the best candidates for the role. They emphasize that Guillén’s experience in championing the crypto sector and her familiarity with the SEC’s operations make her uniquely qualified to shape better crypto-related policies.

It appears that Teresa Goody Guillén has now entered the shortlist of candidates for SEC Chair. However, with roughly two months remaining before Trump officially takes office on January 20th, key appointments are still pending.

portfolio and risk management basics

The crypto market is on the move, but it’s important not to get swept away by FOMO. Keep your head straight and strictly follow your risk and portfolio management strategies.

What is Portfolio Management? 🤔

Portfolio management is your personalized, advanced plan for structuring your crypto portfolio. It helps you determine the trading strategy that works best for you. To develop an effective portfolio management strategy, consider these key questions:

• How much time and energy am I willing to spend on managing my portfolio?
• Am I aiming for a more passive or active crypto portfolio?
• What level of risk am I comfortable taking?

Want to learn more about creating a risk management strategy? 📈 Discover our comprehensive guide on cryptocurrency portfolio and risk management below 👇

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