Grayscale filed paperwork with the U.S. Securities and Exchange Commission (SEC) on Tuesday for three crypto exchange-traded funds, expanding its roster of potential offerings as issuers jockey for regulatory approval.

The asset manager submitted an S-1 registration for a Litecoin LTC$112.00 ETF, a move that follows its earlier bid to convert the Grayscale Litecoin Trust into an ETF.

At the same time, it lodged S-3 filings for exchange-traded funds tied to Bitcoin Cash BCH$579.31 and Hedera HBAR$0.2282. If approved, the products would join a lineup that already includes spot bitcoin and ether ETFs launched last year.

The filings underscore Grayscale’s push to diversify its crypto-linked investment products while regulators weigh how far to open the door to such funds. Just a day earlier, the firm sought to convert its Chainlink LINK$23.11 Trust into an ETF, signaling a rapid pace of applications despite regulatory uncertainty.

Grayscale is not alone. Fidelity, VanEck and several other issuers have lined up proposals for digital-asset funds in hopes that the SEC will sign off on more products later this year. Industry executives say broader approval could help mainstream investors gain exposure to cryptocurrencies through regulated markets, while potentially easing concerns about custody and transparency.

For now, the SEC under Chair Paul Atkins has delayed decisions on a range of crypto ETF applications. A green light from regulators would give investors a way to trade crypto exposure alongside traditional securities in brokerage accounts.

Pepe

According to Coindesk Research’s technical analysis model, one of the most prominent meme coins has struggled to hold investors’ profits, falling 4.7% to $0.00009499 over the past 24 hours.

Regarding the broader memocoin sector, the Coindesk Memecoin index has dropped by 3.87% over the past 24 hours.

The sudden decline in tokens indicates a continuation of recent downward trends.

Once the virus was on April 9th, and even a brief nod from Elon Musk, Pepe lost its market influence as attention returned to Bitcoin. The masks easily adopted a Pepe themed profile photo that day. This is a movement that sent waves into the meme coin space. Still, the hype is largely fading.

This slump is part of a broader shift across the crypto market, where Bitcoin’s advantage is above 65%, a level not seen in more than two years. This trend suggests an increase in BTC investors’ preferences over smaller altcoins, particularly during periods of uncertainty, during periods of reduced risk appetite. That shift is felt sharply by high beta assets like Pepe.

Despite the short priced rebound, Pepe is under pressure and faces resistance of nearly $0.00001013. Failure to maintain the rally reflects a broader rotation from the meme coin, and its future performance could depend on whether market sentiment returns to more risky assets or remains pinned to large names.

Technical Analysis Highlights

• Pepe-USD traded within the 16.1% range and fell from $0.00001017 to $0.0000940 between June 25th and June 25th at 08:00 UTC.
• It was formed between June 25th and 16:00 UTC for $0.00001013 during a massive sale.
• The short-term support zone was developed for $0.0000946-0.0000950. There, prices bounced repeatedly with medium volumes from the second half of June 25th to June 26th.
• In the final 60 minutes of the analysis window, prices moved from 07:07 to 08:06 UTC on June 26th to $0.0000959 to $0.0000955.
• The 91.9 trillion units spike at 07:17 UTC on June 26th coincided with a short 3.1% rally.
• Reflecting short-term profits, the price slipped by 0.9% in the last few minutes before closing.

Disclaimer: Part of this article is generated with the support of AI tools and reviewed by the editorial team to ensure accuracy and compliance Our standards. For more information, please refer Coindesk’s complete AI policy.

Asset manager Purpose Investments is set to launch a spot XRP

exchange-traded fund (ETF) in Canada this week after obtaining regulatory approval, giving investors a way to gain exposure to the fourth-largest cryptocurrency by market capitalization through traditional investment accounts.

The ETF will start trading on the Toronto Stock Exchange on Wednesday, June 18, under the XRPP ticker, according to a Monday press release. The move comes after the Ontario Securities Commission (OSC) granted final prospectus receipt for the investment vehicle, the company said.

XRP was up nearly 7% over the past 24 hours following the news, outperforming bitcoin

and the broad-market CoinDesk 20 Index.

“The OSC’s granting of a receipt for the Purpose XRP ETF prospectus reinforces Canada’s global leadership in building a regulated digital asset ecosystem,” Vlad Tasevski, chief innovation officer at Purpose Investments, said in a press release.

Purpose Investments in 2021 launched in Canada the world’s first spot bitcoin ETF, years before the vehicles’ approval in the U.S.

Read more: XRP Spot ETF in the U.S. Moves Closer to Reality

Sui-based protocol Cetus said on May 27 that it can reimburse every user affected by its May 22 exploit if Sui token holders approve the return of frozen funds in an upcoming on-chain vote.

Cetus said in a May 27 social media post that its cash and token reserves, combined with a secured loan from the Sui Foundation, are enough to cover the $61 million in assets the attacker bridged to Ethereum.

According to a May 27 post by Sui, the loan applies only to the amount bridged outside Sui, not to the remaining $162 million that validators have already frozen on the network.

An upcoming community vote will decide whether to unlock the tokens that were frozen by validators after the exploit.

The DEX has asked the Sui community “for full support” to ensure it can make the affected users whole. Cetus also said it would publish a step-by-step repayment plan regardless of the vote’s outcome.

The Cetus exploit is the ninth-largest hack in the crypto industry in terms of the amount stolen, according to the Rekt News leaderboard. 

Full recovery possible

The Sui Foundation confirmed the arrangement in a separate post, describing the loan as an “extraordinary measure” designed to restore user balances beyond what Cetus could fund alone.

Sui Foundation officials stated that the community vote proposal will appear on-chain “shortly” and that validators remain ready to move the frozen tokens if holders approve.

Furthermore, Foundation executives added that the loan proceeds are in escrow, and deployment could occur as soon as the smart contract community concludes the proposal.

Cetus paused all contracts on May 22 after an attacker exploited a flaw in the protocol’s pricing logic. 

On-chain data indicates that the breach resulted in $223 million worth of tokens, with $61 million transferred to Ethereum and $162 million halted by Sui validators.

Cetus contacted the exploiter through on-chain messages, offering a $6 million bounty in exchange for the funds bridged to Ethereum. However, the protocol did not receive a reply.

Project developers said they “deeply regret the impact” and will “begin recovery immediately” once they finalize the mechanics for distributing reimbursements. 

Cetus reiterated that rebuilding user trust remains its top priority and is committed to providing periodic progress updates. The protocol has not disclosed a timeline for code fixes or the resumption of trading.

Mentioned in this article

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Galaxy Digital is moving closer to a U.S. stock market listing after the Securities and Exchange Commission (SEC) approved its registration statement tied to a corporate reorganization.

The crypto and AI infrastructure firm, currently listed in the Toronto Stock Exchange, aims to shift its home base from the Cayman Islands to Delaware and list shares on the Nasdaq as “GLXY.” The firm’s expansion into the U.S. market comes as institutional demand for regulated crypto products continues to grow.

The company has scheduled a shareholder vote on the reorganization for May 9. The firm is expected to list shortly afterward. CEO Mike Novogratz called the registration effectiveness “an important milestone” in the firm’s bid to expand its reach.

Galaxy provides institutional services in crypto trading, asset management, and tokenization. It also invests in and operates data centers that power AI and high-performance computing.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.