The cryptocurrency market has long lacked a broad, trusted benchmark similar to the Dow Jones or S&P 500. But with a major regulatory green light and Bitwise’s latest move, the industry may finally be getting its first true multi-asset index alternative.

Bitwise has launched trading for its newly converted exchange-traded product, the Bitwise 10 Crypto Index ETF (BITW), giving investors easy access to the 10 largest digital assets in a single, regulated investment vehicle.

A Single ETF Covering the Market’s Top Crypto Assets

BITW brings together a diversified basket of leading cryptocurrencies, including:

• Bitcoin
• Ethereum
• XRP
• Solana
• Chainlink
• Litecoin
• Cardano
• Avalanche
• Sui
• Polkadot

Bitwise CEO and co-founder Hunter Horsley told CNBC that this ETF makes Bitwise the first major asset manager to include altcoins like Cardano, Avalanche, Sui, and Polkadot—all of which currently lack spot ETFs—in a fully regulated ETF product.

“This step significantly broadens the investor base that can access various crypto assets,” Horsley said. “It’s especially important for assets without a spot ETF.” He added that BITW opens new doors for smaller investors using IRAs or pension plans that only allow ETF-based exposure.

From Index Fund to ETF: A Structural Upgrade

BITW wasn’t created from scratch—it existed as an index fund with the same holdings before being converted to an ETF. The fund now enters the stock market with $1.5 billion in assets under management, instantly making it one of the largest diversified crypto products available.

The transition to an ETF format unlocks key advantages:

• Greater trading flexibility
• Potential tax benefits
• Lower operating costs
• Access through a wider range of brokerage accounts

This development comes on the heels of the SEC’s historic approval of U.S. spot Bitcoin ETFs in January 2024, which triggered a wave of ETF applications across the market—from altcoins like Sui and Aptos to meme-inspired tokens such as Dogecoin.

A Broader Crypto Market Indicator Begins to Form

As digital assets mature and develop unique market behaviors, products like BITW may serve the same role as equity indices: simplified diversification for investors who want broad exposure without picking individual tokens.

“Many investors following Bitcoin ETFs are looking for a more comprehensive digital asset solution,” Horsley said. “BITW arrives at the perfect time.”

Portfolio Weighting: Focus on Market Leaders

Despite covering 10 assets, BITW remains heavily weighted toward the market’s largest players.

• 90% of the fund is allocated to Bitcoin, Ethereum, Solana, and XRP—each of which already has its own ETF presence.
• The other 10% is distributed across smaller altcoins, ensuring limited exposure while still capturing growth potential.

BITW will rebalance monthly, offering a more dynamic update cycle compared to the typical quarterly or semiannual rebalancing seen in most traditional ETFs.

ardano’s ADA has ignited fresh excitement across the crypto market after shattering a multi-month downtrend on the 4-hour chart. The token surged 10% to $0.47, backed by a strong spike in trading volume that confirms growing institutional interest. This abrupt breakout comes as the ecosystem gears up for the highly anticipated launch of Midnight, Cardano’s privacy-focused sidechain, which founder Charles Hoskinson calls the project’s “biggest milestone to date.” Adding to the momentum, a new 70 million ADA treasury allocation aimed at infrastructure growth signals accelerated expansion in DeFi and enterprise sectors.

A Long-Awaited Breakout Signals a Trend Shift

ADA’s recent surge marks a dramatic reversal from its months-long consolidation. The token climbed from lows near $0.42 to $0.47 within hours, making it the top performer among the leading 10 cryptocurrencies. A widely shared 4-hour TradingView chart highlights the breakout clearly: ADA had been locked inside a descending channel since late October, with a dominant red trendline repeatedly rejecting upward moves. That changed on December 9 when ADA broke above the resistance zone at $0.43–$0.44, forming a powerful bullish engulfing candle. Rising volume and a recovery in RSI to near 60 confirm strengthening momentum without the threat of immediate overbought conditions.

Key Levels to Watch: $0.50 Resistance and $0.40 Support

Traders now set their sights on the crucial $0.50 resistance, a psychological and historical ceiling that could determine ADA’s next leg upward. Should Bitcoin maintain stability above $90,000, ADA’s tight correlation suggests further upward spillover that could expand Cardano’s $17 billion market cap. However, analysts caution that failure to hold above the breakout trendline may attract early profit-taking, potentially dragging ADA back toward $0.40 support.

Midnight Sidechain Fuels Fundamental Strength

Beyond the charts, Cardano’s fundamentals are entering a transformative phase. Hoskinson has spotlighted the upcoming Midnight sidechain—launching first on Binance Alpha—as a breakthrough moment for Cardano. Midnight integrates zero-knowledge proofs with Cardano’s scalable PoS design, delivering confidential smart contracts that appeal to DeFi innovators and enterprise clients alike. In parallel, the approved 70 million ADA treasury injection strengthens tooling, infrastructure, and developer incentives. With decentralized governance now fully active under the Voltaire era, Cardano is positioning itself as a formidable rival to Ethereum’s smart-contract dominance.

Trading Strategies Around the Breakout

Short-term traders are watching for a confirmed push above $0.50 to validate continuation toward higher targets. Swing traders may look to retests of the breakout zone for entries, while long-term holders see this move as a reaffirmation of Cardano’s slow-but-steady development philosophy. As Midnight attracts developers and Total Value Locked rises on platforms like Minswap and SundaeSwap, the broader narrative of Cardano’s resurgence is gaining renewed confidence.

Why This Matters for ADA’s Future

This breakout isn’t just technical—it reflects years of groundwork finally converging. With privacy integration, governance maturity, and infrastructure funding all aligning, Cardano’s ecosystem is entering a pivotal growth phase. In a year defined by regulatory clarity and emerging AI-blockchain synergies, ADA’s momentum feels both overdue and well-timed, reinforcing its status as a key asset in diversified portfolios.

21Shares has inched another step closer to launching its highly anticipated 21Shares XRP ETF (TOXR) after submitting an updated prospectus. The latest amendment arrives just as investor appetite for crypto-focused exchange-traded products is heating up, setting the stage for a potentially big week for XRP market watchers.

Summary

• 21Shares filed an updated prospectus for the 21Shares XRP ETF (TOXR).
• Management fees have been cut from 0.50% to 0.30%.
• The ETF is seeded with 20,000 shares priced at $25 each.
• Investors are eyeing parallels to Solana’s previous rally as anticipation builds.

A Step Closer: What’s New in the Filing?

The newest S-1 amendment marks the fifth update to 21Shares’ filing, bringing the TOXR ETF one step nearer to a potential launch this week. The issuer also opted to reduce its management fee from 0.50% to 0.30%—a welcome tweak in an increasingly competitive ETF landscape. Whether 21Shares will waive fees altogether remains unknown for now, but the rate cut alone signals an attempt to stay ahead in the race.

How We Got Here

The XRP ETF technically became auto-effective last month, but it still needs a CERT filing before it can officially begin trading. The idea behind the product is simple: provide investors with a regulated, traditional-finance route to gain exposure to XRP without dealing with crypto wallets or self-custody complexities.

Instead, the ETF will track the CME CF XRP-Dollar Reference Rate, allowing anyone with a standard brokerage account to access spot XRP performance—essentially the convenience of TradFi with the upside of crypto.

Three Custodians, One ETF

Security and regulatory compliance are front and center. For custody, 21Shares has onboarded:

• Coinbase Custody
• Anchorage Digital Bank
• BitGo Trust

Meanwhile, BNY Mellon will act as the cash custodian, administrator, and transfer agent, and Foreside Global Services will serve as the marketing agent.

According to the December 8 filing, the ETF will hold actual XRP, giving investors direct exposure rather than relying on derivatives or thematic crypto equities.

The ETF Seed: 20,000 Shares

21Shares is seeding TOXR with 20,000 shares at $25 each, totaling roughly $500,000. It’s a modest but strategic start—enough to kick off the fund while signaling confidence without overshooting demand.

For those considering an early position, this could be an interesting entry point, especially if XRP sees momentum similar to Solana’s recent surge in ETF inflows.

XRP ETFs Continue Their Global Streak

XRP ETFs worldwide have been on a roll with 16 consecutive days of net inflows, bringing total assets under management to $923 million.

On Monday alone:

• XRP ETFs pulled in $38 million in net inflows
• Franklin Templeton’s XRPZ accounted for $31.7 million of that
• Bitcoin ETFs saw $60 million in net outflows
• Ethereum ETFs gained $35.49 million
• Solana ETFs lagged with $1.18 million in inflows

Momentum is clearly building behind XRP-focused products, and the launch of TOXR could amplify that trend even further.

Conclusion

21Shares’ updated filing for the XRP ETF is more than a regulatory formality—it’s a strong signal that the launch window is opening. With reduced fees, direct XRP exposure, and heavyweight custodians behind it, TOXR could become a major gateway for traditional investors looking to enter the XRP market.

As crypto ETFs continue gaining traction, XRP’s inclusion in the growing ecosystem underscores the asset’s rising mainstream relevance.