Circle’s long-awaited IPO filing reignites hopes for crypto listings, but shaky markets and weak financials raise doubts.
Slashing could allow the restaking pioneer to make good on its “shared security” promise.
Is the long-awaited “decoupling” finally here? Bitcoin bulls hope so.
Digital asset manager Grayscale registered with the United States Securities and Exchange Commission (SEC) to list the Grayscale Solana (SOL) Trust exchange-traded fund (ETF) on the New York Stock Exchange (NYSE).
The ETF will trade under the ticker symbol “GSOL” and will hold spot SOL as the underlying asset, according to the April 4 S-1 filing.
Grayscale announced plans to convert its existing Grayscale Solana Trust into an ETF in its 19b-4 application filed with the SEC in December 2024.
The filing is among several crypto ETF applications in the United States following a regulatory shift in Washington DC, and Solana is widely expected to be the next digital asset ETF approved by the SEC.
Grayscale Solana Trust ETF S-1 registration form. Source: SEC
Related: Grayscale files S-3 for Digital Large Cap ETF
Solana price slumps despite Trump’s attention
US President Donald Trump in March announced the inclusion of SOL in the country’s first crypto reserve, alongside Bitcoin (BTC), Ether (ETH), XRP (XRP), and Cardano’s native token ADA (ADA).
Digital assets held in the reserve will be acquired through asset forfeiture and may not significantly contribute to demand for SOL or price appreciation.
“A US Crypto Reserve will elevate this critical industry after years of corrupt attacks by the Biden Administration” and include “made in America” cryptocurrencies, Trump wrote in a March 2 Truth Social post.
Following the announcement, SOL’s price declined to multi-week lows and is down approximately 60% since its all-time high of $295 recorded in January 2025.
SOL’s negative price performance reflects a broader downturn in the crypto markets brought on by fears of a prolonged trade war and the Trump administration’s tariff policies.
SOL has preformed poorly amid trade war fears and a broader downturn in risk-on markets. Source: TradingView
Risk-on assets tend to suffer during trade wars as investors flee volatile asset classes for more stable alternatives such as cash and government bonds.
The approval of a Solana ETF could mitigate this price decline by giving traditional financial investors exposure to SOL and funneling capital from the stock market into the altcoin.
Fresh investment capital pouring into SOL may prop up prices during general market downturns, making the altcoin more resilient to price shocks than digital assets lacking traditional investment vehicles.
Magazine: Solana ‘will be a trillion-dollar asset’: Mert Mumtaz, X Hall of Flame
Ripple, the blockchain-based payments firm behind XRP (CRYPTO: XRP), is raising fresh concerns over the UK’s sluggish approach to crypto regulation, arguing that it’s leaving British banks unwilling to engage with digital assets.
What Happened: At a policy summit held in London, Cassie Craddock, Ripple’s Managing Director for the UK and Europe, said that the country’s banking institutions remain hesitant to adopt Ripple’s services due to lingering uncertainty around crypto laws.
“It’s still difficult to access basic banking services because of this uncertainty,” she said, adding that large banks continue to keep their distance.
Craddock recalled being dismissed by major banks during earlier attempts to introduce Ripple’s solutions. “Back in 2017, financial institutions would hear us out and then never return our calls,” she said.
Although conditions have since improved in the EU, where banks are increasingly embracing digital asset services …
The markets are terrible but the crypto industry continues building for the future.
The peer-to-peer app is bringing stablecoin payments into the QR code economy.
Despite strong token burns, Shiba Inu (CRYPTO: SHIB) is down 10% over past seven days.
| Cryptocurrency | Price | Market Cap | 24-Hour Trend | 7-Day Trend |
| Shiba Inu (CRYPTO: SHIB) | $0.00001222 | $7.2 billion | +0.8% | -8.1% |
| Dogecoin (CRYPTO: DOGE) | $0.1672 | $24.9 billion | +6.2% | -6.7% |
| Pepe (CRYPTO: PEPE) | $0.057041 | $2.96 billion | +7.7% | -8.5% |
Trader Notes: Crypto trader Bicoinmoney highlighted in an analysis on TradingView that SHIB is trading inside a descending channel, capped by a major downward trendline.
The token is nearing a …
Analysts say Bitcoin (BTC) price could drop to $70,000 within the next ten days as one BTC pricing model suggests that the US-led trade war could upend investors’ risk-asset sentiment.
In his latest X analysis, network economist Timothy Peterson warned that Bitcoin may return to its 2021-era all-time high.
$70,000 is Bitcoin’s “practical bottom”
Bitcoin price expectations continue to deteriorate as the impact of “higher than expected” US trade tariffs hits home.
For Peterson, the outlook now includes an uncomfortable trip down memory lane.
“Bitcoin to $70k in 10 days?” he queried.
An accompanying chart compared Bitcoin bear markets and included Peterson’s Lowest Price Forward (LPF) metric — a historically accurate yardstick for gauging long-term BTC price bottoms.
“While this chart is not a prediction, it does provide data-driven expectations for what Bitcoin could do,” he continued.
“If it continues to track along the 75th percentile bear market range, then 70k would be the practical bottom.”
Bitcoin bear market comparison with LPF data. Source: Timothy Peterson/X
Peterson noted that the theory ties in with current LPF data, which last month said that BTC/USD was 95% certain to preserve the 2021 highs as support.
Prior to that, the metric successfully delivered a $10,000 price floor in mid-2020, with Bitcoin never again dropping below it after September that year.
Continuing, Peterson revealed probabilities for April which showed BTC price expectations in a state of flux.
“Bitcoin went from 75% chance of having a positive month to a 75% chance of having a negative month in just 2 days,” he summarized alongside another proprietary chart.
April BTC price expectations. Source: Timothy Peterson/X
Related: Bitcoin sales at $109K all-time high ‘significantly below’ cycle tops — Glassnode
Bitcoin’s current price action is “often what a bottom looks like”
The bearish outlook of Peterson’s model is far from the only bearish warning coming to light this week.
As noted by onchain analytics firm Glassnode, many traders are attempting to shield themselves from further crypto market turmoil.
“Puts are trading at a premium to calls, signaling a spike in demand for downside protection. This skew is most pronounced in short-term maturities – a level of fear not seen since $BTC was in the $20Ks in mid-’23,” it revealed in an X thread on April 4.
Bitcoin options delta skew. Source: Glassnode/X
Glassnode nonetheless acknowledged that while under pressure, current price performance does not constitute a post-tariff capitulation of the sort seen in stocks.
“Despite this, $BTC hasn’t broken down like equities did on recent tariff headlines. That disconnect – rising panic without a price collapse – makes the current options market setup especially notable,” it continued.
“Skew like this usually appears when positioning is one-sided and fear runs high. TLDR: panic is elevated, but price is holding. That’s often what a bottom looks like.”
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
The precious metal initially rallied after Trump unveiled reciprocal tariffs, but has since joined the wider market sell-off.
The Fed chair spoke Friday with markets in full blown panic following the Trump tariff announcement.
XRP’s (CRYPTO: XRP) price has increased 7.01% over the past 24 hours to $2.11, which is in the opposite direction of its trend over the past week, where it has experienced a 4.0% loss, moving from $2.19 to its current price. As it stands right now, the coin’s all-time high is $3.40.
The chart below compares the price movement and volatility …