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The race for crypto ETFs is intensifying as two tokens, Chainlink (LINK) and XRP, come under scrutiny. Crypto asset manager Bitwise officially submitted paperwork with the U.S. Securities and Exchange Commission (SEC) on Tuesday, seeking to launch a Bitwise Chainlink ETF that provides investors with direct exposure to LINK, the native token of the oracle network.

Bitwise Pushes Forward With Chainlink ETF Filing

According to the S-1 filing, the fund will directly hold LINK, providing investors with a way to gain exposure to the token without having to purchase it directly on the open market. In practice, this means that investors can create shares using the LINK token and redeem their shares to receive LINK again, or they can complete the process in cash. Shares in the fund will also be issued and redeemed in cash, a Trust-Directed-Trade process that mirrors the structure of other spot ETFs.

The SEC has only recently begun to allow issuers to offer in-kind creation and redemption for crypto-based ETFs. The Bitwise Chainlink ETF application does not yet include a ticker symbol. It does not specify the exact listing venue. Still, Bitwise plans to list the fund on a U.S. national securities exchange after obtaining approval from the SEC. The paperwork, however, shows that Coinbase Custody Trust Company would act as the custodian for the LINK tokens and also serve as the prime execution agent.

Chainlink’s price action has already responded positively to the news of the Bitwise ETF application. The token is trading above $23 and has gained nearly 5% in the daily chart. Traders are now watching to see if LINK can extend its ETF momentum and push toward a price breakout to $30 if the cryptocurrency continues its uptrend.

Chainlink And XRP Battle For ETF Spotlight

While Chainlink is gaining attention with its ETF filing, XRP is not far behind in the race. Bitwise has filed amended S-1 forms for its XRP ETF, with key catalysts for possible SEC approval expected in October. The amendments to the XRP ETF filing were likely made in response to feedback from the SEC. 

If the XRP ETF follows a path similar to Ethereum’s, market experts predict approval could come first, with trading beginning about two months later. Meanwhile, if it follows the same pattern as Bitcoin ETFs, the most favorable outcome could see trading begin within just one to five days after approval, rather than waiting months.

With Bitwise filing for a LINK ETF and also pursuing an XRP product, both tokens are firmly in the spotlight and could soon compete directly as regulated investment products available through spot ETFs. 

XRP’s price action remains steady despite waiting for ETF approval. The token is hovering near $3.22 after recently climbing to $3.60. Traders are now watching to see if XRP can break out again as the ETF review process moves forward.

Featured image from DALL.E, chart from TradingView.com

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FOMO hit hard over the weekend as Solaxy’s ($SOLX) presale sprinted past $46.2 million, kicking off a six-day countdown for early investors to get in.

More than $1.4 million in $SOLX has been snapped up since June 6, showing traders are racing to lock in the current price before the token lists on top exchanges.

Already deep in development, Solaxy is building the first true Layer-2 for Solana ($SOL). When the stack goes live, which has been announced that it will be this month, it’s set to make Solana far more dependable – not just for meme coins, but for DeFi, gaming, and any high-throughput dApp that needs speed without congestion.

At $0.00175 per token, $SOLX is still a bargain, but the clock is ticking: the price ratchets up every two days.

For anyone who sees Solaxy as the upgrade that can push Solana to the next level, now is the moment to act.

Why $SOL Is Still Undervalued – and What Solaxy Has to Do With It

The price of $SOL dipped as low as $142 last week but has since recovered, currently trading at $153 at the time of writing.

The past 24 hours saw a modest 5.1% increase – a small move considering the macro backdrop, which includes renewed U.S.–China talks set to take place in London this week.

That’s why many still see $SOL as undervalued. While Bitcoin hit a fresh all-time high on May 22, Solana hasn’t come close to retesting its January peak.

Sure, the market is still in Bitcoin season – only 29 of the top 100 altcoins have outperformed BTC recently – but even compared to Ethereum ($ETH), which gained 5.1% in the past 30 days, $SOL underperformed, posting a 9.6% decline over the same period.

And yet, institutional interest in Solana hasn’t faded. Just two weeks ago, Canada-listed firm SOL Strategies filed to raise up to $1 billion in equity and debt to expand its Solana exposure.

DeFi Development Corp also became the first public company to invest in Solana-based liquid staking tokens (LSTs). Leveraging Sanctum’s infrastructure, they launched dfdvSOL, which lets users stake $SOL while keeping it liquid for DeFi participation.

But perhaps the biggest reason investors are holding their fire is because they’re waiting for the catalyst that could unlock a new phase of growth: Solana’s first dedicated Layer-2 scaling solution – and that’s exactly what Solaxy is building.

When One Meme Coin Can Freeze a Network, Layer-2 Becomes Non-Negotiable

The launch of Pump.fun in 2024 breathed new life into Solana’s meme coin ecosystem, sparking a wave of hyper-volatile tokens that reached peak momentum by January 2025.

Leading that surge was the Official Trump ($TRUMP) meme coin – a token launched by U.S. President Donald Trump himself – which briefly became the third-largest meme coin by market cap, trailing only Dogecoin ($DOGE) and Shiba Inu ($SHIB).

But while $TRUMP’s explosive rise pushed Solana-based meme coins into the multi-billion-dollar range, it came at a steep cost. The network struggled under the pressure, triggering widespread congestion.

Solana explorers like Solscan and wallets such as Phantom experienced internal server errors, while even centralized exchanges like Coinbase reported delays of up to 15 hours – all caused by the overwhelming traffic linked to the Trump meme coin frenzy.

Since then, the meme coin sector (like Solana) has yet to reclaim its peak market caps. Broader macro pressures – including renewed U.S.–China tariff tensions reignited by Trump – have also dampened sentiment. But beyond geopolitics, the real takeaway is structural.

Pump.fun showed why Solana is the go-to chain for meme coin trading: fast, cheap, and built for chaos. But the Trump-driven congestion also exposed its limits.

If one meme coin can bottleneck the entire ecosystem, what happens when DeFi, gaming, and other high-throughput verticals scale?

Enter Solaxy – the first dedicated Layer-2 for Solana. By batching transactions off-chain and settling them on Solana’s mainnet, Solaxy eases congestion and unlocks serious throughput upgrades.

Skeptics have long said Solana doesn’t need Layer-2 scaling because of its monolithic design. But the $TRUMP incident proved otherwise. And with $46 million raised so far, the Solana community is clearly betting big on Solaxy as the next evolution of the chain.

The Road Ahead: Solaxy’s Testnet Is Already Running and Time’s Running Out

But it’s one thing to say what you’re going to do – and another to actually show how you’re doing it. For a new project, that distinction is crucial – and it’s something Solaxy has taken to heart.

Right now, Solaxy has already launched its testnet, giving users a real glimpse into what the network can deliver. Users can bridge $SOL from the Solana Devnet via bridge.solaxy.io, deploy contracts using Solana’s native toolchain, move assets across the Solaxy roll-up, and track activity via the Solaxy Explorer.

Furthermore, the Igniter Protocol – Solaxy’s native token launchpad – and its decentralized exchange (DEX) are set to launch shortly.

That’s why FOMO has surged since the final days of the presale were announced. Solaxy isn’t just offering a vision – it’s delivering proof. And this may be the last chance to grab its native token $SOLX at a significantly lower price.

With live infrastructure, visible activity, and growing exposure, the demand for $SOLX is expected to explode once it hits major exchanges.

Only 6 Days Left to Go – Here’s How to Join Solaxy’s Presale

There’s no more time to lose with the presale ending next week. If you have not secured $SOLX at its presale prices, head over to the Solaxy website, connect a supported wallet, and buy $SOLX.

Once purchased, tokens can be staked immediately to grow your holdings passively – with the protocol currently offering a dynamic 87% APY, adjusting based on pool activity.

For the best experience, use Best Wallet, the recommended self-custody option with full presale integration and multichain support.

Join the massively growing Solaxy community on Telegram and X.

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Bitcoin is back in beast mode.

After months of chop and doubt, $BTC has flipped the narrative with a powerful V-shaped recovery that has it trading above $103K.

Market sentiment has turned sharply bullish, and it’s not just crypto-native voices shouting ‘to the moon.’ Big money is flowing in. Analysts are calling for a $120K breakout.

Meanwhile, U.S. credit risks and macro concerns are adding even more fuel to the Bitcoin fire.

This kind of environment is exactly what seasoned crypto investors wait for.

And while everyone’s eyes are locked on $BTC, a lesser-known altcoin is quietly gaining steam – one that’s designed to mirror Bitcoin’s momentum and possibly deliver explosive returns as the rally picks up speed. Meet BTC Bull Token ($BTCBULL) – the bull market’s sleeper hit in the making.

Moody’s, ETFs, and a Wall of Money

The bullish Bitcoin momentum isn’t just about technicals – it’s about trust.

This week, Moody’s downgraded the U.S. credit outlook from ‘stable’ to ‘negative.’

That might sound like financial jargon, but here’s what it really means: growing fears over U.S. debt and political instability are making investors nervous. And when people lose trust in traditional markets, Bitcoin shines.

We’re seeing that play out in real time. Over $5B has poured into Bitcoin ETFs in just days, with investors betting big on $BTC’s next leg up.

These aren’t just degen bets – this is serious institutional capital returning to crypto. It’s the kind of inflow that signals the beginning of a real bull market.

At the same time, Bitcoin has surged past $103K thanks to a clean V-shaped rebound. Analysts are eyeing $120K as the next major resistance level.

Confidence is rising, retail is waking up, and crypto conversations on X are heating up. The market’s moving – and projects built for bullish cycles are about to thrive.

BTC Bull Token ($BTCBULL) – Bitcoin’s Meme-Fueled Amplifier

BTC Bull Token ($BTCBULL) isn’t your average meme coin. It’s a turbocharged, meme-powered project with one mission: ride Bitcoin’s charge to $1M and reward early believers along the way.

While most meme coins chase hype with zero utility, $BTCBULL goes further – it pays out actual Bitcoin to its holders.

That’s right. It’s the first Bitcoin-themed meme coin that directly rewards its community with real $BTC.

Every time Bitcoin hits a milestone – like $150K, or $200K – $BTCBULL holders who bought through Best Wallet and still hold their tokens there receive automatic $BTC airdrops. It’s not just vibes. It’s value, delivered.

Just don’t forget to buy and hold your $BTCBULL in Best Wallet. No Best Wallet – no airdrops.

On top of that, other Bitcoin milestones like $125K, $175K, and $225K trigger token burns, permanently shrinking the supply of $BTCBULL and boosting scarcity.

This isn’t just clever – it’s engineered for momentum. With a tight link to $BTC price action and meme energy baked in, $BTCBULL turns the typical passive HODL into an active ride full of upside.

And forget dealing with clunky BRC-20s or cold storage keys.

Thanks to a partnership with Best Wallet, you can buy $BTCBULL on Ethereum and receive $BTC rewards directly through your wallet. It’s frictionless, fast, and built for the bull cycle.

Why It Works in This Market

BTC Bull Token is gaining serious traction – nearly $6M raised in its presale already, with tokens still priced at just $0.00252. And while that might look tiny, the upside is anything but.

Analysts forecast a 2025 high of $0.06467. If that hits, that’s a 2,465% gain from today’s price.

Let’s put that into perspective. If you bought $1K worth of $BTCBULL today, you’d get around 396K tokens.

Now imagine staking those tokens at a modest APY of 15% for a year. That adds 59K more tokens, giving you a total of 455K.

At the current price, that’s worth just over $1,150. At the 2025 forecast high of $0.06467, that same bag could be worth over $29,5K.

That’s how you turn a meme coin into a moonshot.

The timing couldn’t be better. Bitcoin is pushing $103K. ETF inflows are exploding. Retail is coming back. And tokens like $BTCBULL – tailor-made to ride this exact wave – could be the biggest winners.

The Sleeper Pick Built for the Bull Run

Bitcoin is stealing the spotlight, but BTC Bull Token is quietly setting the stage for something bigger. It’s early, it’s explosive, and it’s engineered to thrive in this exact market.

If you’re looking for a high-upside play that rewards you in real $BTC as Bitcoin climbs, this might be your moment to get in before the crowd.

This article is for informational purposes only and not investment advice. Always do your own research (DYOR) before investing in new crypto projects.

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.

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The prospect of a Dogecoin exchange-traded fund (ETF) finally making its way into the US financial markets has taken a major step forward and now feels more realistic than ever. This fresh optimism stems from a significant regulatory update: the U.S. Securities and Exchange Commission (SEC) has officially acknowledged the 21Shares filing for a Dogecoin ETF, marking the beginning of a formal review process.

SEC Acknowledges NASDAQ’s Filing To List And Trade Shares of 21Shares’ Dogecoin ETF

The SEC’s acknowledgment of 21Shares’ DOGE ETF filing signals the start of an official review process. On May 13, 2025, the Commission published a notice confirming that Nasdaq’s request to list the 21Shares Dogecoin ETF had been received, effectively putting the proposal on the public docket.

However, it is important to note that this step does not equate to an approval. Instead, it initiates a period of scrutiny and public comment that can extend up to 240 days before a final decision is due. In fact, the SEC’s ultimate deadline for the 21Shares Dogecoin ETF would be January 9, 2026, if all extensions are utilized. But for now, the acknowledgment locks in a timeline and affirms that the agency is actively considering the DOGE fund idea.

21Shares, a Switzerland-based asset manager, filed its initial registration for a spot Dogecoin ETF on April 9. The firm partnered with the Dogecoin Foundation’s corporate arm, known as House of Doge, to help promote the fund. According to the filing, the proposed ETF is designed as a passive trust holding actual DOGE tokens, tracking a benchmark index of the meme coin’s price without using leverage or derivatives. Furthermore, Coinbase Custody Trust was brought on as the custodian for the fund’s DOGE holdings, probably to target institutional and retail brokerage channels.

DOGE ETF Race Heats Up. Now Closer Than Ever

The review of the Dogecoin ETF comes at a time when the SEC’s stance on crypto products is shifting. Under the new leadership of SEC Chair Paul Atkins, the agency has shown signs of a more open approach toward cryptocurrency investments. The current administration in Washington has been described as more crypto-friendly than its predecessor, and the SEC has recently taken steps like dismissing cases against crypto companies and engaging in crypto-focused discussions with industry stakeholders. This backdrop of a softer regulatory outlook gives the DOGE ETF bid a fighting chance that might not have existed just a couple of years ago.

In addition to 21Shares, several other asset management firms have filed applications to launch Dogecoin ETFs in the United States. Bitwise Asset Management submitted its application for a spot Dogecoin ETF on January 28, 2025, with NYSE Arca proposing to list the fund. REX Shares, in partnership with Osprey Funds, filed for a Dogecoin ETF in January 2025. Their application is among different memecoins, including products linked to the $TRUMP token and BONK. 

As of mid-May 2025, the SEC is reviewing DOGE ETF applications from 21Shares, Bitwise, Grayscale, and the REX-Osprey partnership. Industry analysts estimate a 63% to 75% chance of approval for these ETFs this year.

Featured image from Pixabay, chart from Tradingview.com

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.

The crypto market has been on a tear over the past week and had a great weekend as news broke that tariffs would be reduced between the U.S. and China. But the trade started to unwind as crypto fell, starting shortly after trading began on Wall Street on Monday.

Ethereum (ETH -2.24%) has been the biggest mover of the major tokens, gaining as much as 12% in trading since Friday’s market close and has risen 34.2% in the past week. Dogecoin (DOGE -1.96%) is leading the meme coins with as much as a 22.3% gain since Friday and a 33.5% increase over the past week, while Cardano (ADA -1.28%) jumped 9.5% over the weekend.

Image source: Getty Images.

Tariff news and the “risk-on” trade

The move in crypto since Friday has been based on increasing speculation a trade deal would be announced between the U.S. and China. Negotiations took place over the weekend in Geneva, Switzerland, and resulted in a reduction of tariffs on U.S. imports from China from 145% to 30%.

What the market was worried about was tariffs collapsing the global economy, which seems less likely for now. The reduction in tariffs will last for 90 days while negotiations continue, but we’re back to near where tariffs were before the April 2 tariff announcement.

For most cryptocurrencies, this jump in value has come as a bounce off of lows as the market puts a “risk-on” trade on.

Ethereum’s upgrades

The gains are welcome for Ethereum, which fell more than 50% between December and April’s lows. The blockchain has struggled with high costs and slow speeds for years but that has become a real problem recently as transaction demand has increased, pushing users and developers to other blockchains.

After completing the recent Pectra upgrade, developers are plotting the Fusaka update that would make it less expensive for Layer-2 blockchains built on top of Base to complete transactions.

Blockchains like Base and Arbitrum have gained wider adoption than Ethereum because they’re faster and have lower costs, but their transactions need to settle to the main blockchain eventually. This upgrade would make that process more efficient.

But the update may not come until later this year, at best, and until then Ethereum continues to fall behind faster, less expensive blockchains.

Cardano’s privacy focus

Cardano has come back in favor again after founder Charles Hoskinson said it’s looking to offer stablecoins that have the same privacy as cash.

Today, all transactions on the blockchain can be seen by anyone, which doesn’t provide any privacy once your wallet address is known.

That could give the blockchain an interesting use case as the market expands in crypto.

The crypto trading cycle

Cryptocurrencies continue to follow the moves in growth and tech stocks, and today is no different. But this time around, there are good reasons to be bullish on some of these blockchain improvements.

I think in time, the blockchain will gain market share for financial transactions, but when it does, it may be stablecoins that win, not cryptocurrencies themselves, which is why I’m not buying this bounce today.