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Ripple's $XRP token flips Solana's market capitalization According to CoinMarketCap, XRP had a market cap of over $122 billion, compared with Solana’s $111.9 billion. Ripple’s XRP token flipped Solana’s market capitalization for the first time during the current market cycle on Dec. 1, making XRP the fourth-largest cryptocurrency by market cap. According to data from CoinMarketCap, XRP ( $XRP ) had a market cap of over $122 billion at the time of writing, compared with Solana’s ( $SOL ) $111.9 billion. Ripple’s native token has surged in recent weeks. The rally, which began on Nov. 10, reached a peak price of $2.19 on Dec. 1, marking a seven-year high. XRP’s meteoric price performance can be attributed to a growing number of key partnerships, new product developments from Ripple Labs, the possibility of an XRP ETF and unsubstantiated rumors that Elon Musk would make a sizable investment into XRP and Ripple. November has been a busy month for Ripple Labs and XRP Asset manager 21Shares submitted a filing for an XRP ETF on Nov. 1, boosting investor expectations that the Securities and Exchange Commission (SEC), set to have new leadership starting January 2025, will approve the ETF applications. New York Stock Exchange Arca petitioned the SEC to list the Bitwise crypto index exchange-traded product on Nov. 15. The Bitwise crypto index will feature 10 digital assets, including Bitcoin ( $BTC ), Ether ( $ETH ) , Cardano ( $ADA ) , Avalanche ( $AVAX ), XRP and others. On Nov. 25, asset manager WisdomTree filed for an XRP ETF in Delaware — joining the ranks of 21Shares, Canary Capital and Bitwise. Also, Ripple Labs announced the first tokenized money market fund on the XRP Ledger on Nov. 25. The tokenized fund was made possible by a partnership between Ripple Labs and Archax — a regulated cryptocurrency exchange in the United Kingdom. As part of the collaboration between the two firms, Ripple will tokenize Abrdn’s $4.77 billion US dollar liquidity fund. More recently, on Nov. 29, reports surfaced that Ripple’s RLUSD stablecoin — an overcollateralized US dollar-pegged token — would receive approval from New York financial regulators in the coming days.

$ETH Ethereum is currently trading at $3,426, maintaining its position as the second-largest cryptocurrency with a market cap of $408 billion. A slight price decline has occurred within the last 24 hours. The 19b-4 proposal by NYSA Arca for Bitwise’s Ethereum ETP indicates a growing interest in Ethereum-based financial products. This situation suggests an increase in institutional interest in the Ethereum market. Additionally, Buterin recently purchased ANON tokens from Anoncast and shared anonymously on his Farcaster account. This demonstrates Buterin’s ongoing active role in the crypto ecosystem. Known for his support of ethical and regulatory clarity in blockchain,Buterin continues to contribute to the development of the cryptocurrency ecosystem. His actions highlight the importance of ethical approaches and policy development processes in the crypto space.

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Bitwise registers Solana ETF in US state Delaware Bitwise would be competing with fellow asset managers VanEck and Canary Capital for an SEC-approved spot Solana ETF. Digital asset management firm Bitwise has$XRP registered a statutory trust for a proposed spot Solana exchange-traded fund (ETF) in Delaware — indicating that it may soon file for an S-1 registration statement with the United States securities regulator. The Bitwise Solana SOL tickers down $241.46 ETF was incorporated on Nov. 20, according to the State of Delaware’s Division of Corporations website. The registered agent was listed as CSC Delaware Trust Company, which is headquartered in Wilmington, Delaware. Bitwise would still need to submit a 19b-4 filing and S-1 registration statement to the US Securities and Exchange Commission to officially put its name in the race with VanEck and Canary Capital. On Oct. 1, Bitwise filed to register a spot XRP XRP tickers down $1.10 ETF in Delaware and then submitted its S-1 form to the US securities regulator the very next day. If approved, the Bitwise Solana ETF would seek to track the price movement of the world’s fourth-largest cryptocurrency. The filing didn’t state which stock exchange would list the Solana product — however, the Bitwise Bitcoin ETF and Bitwise Ethereum ETF are both listed on the New York Stock Exchange Arca. A proposed ticker wasn’t listed for Bitwise’s Solana ETF either. VanEck’s Head of Digital Asset Research Matthew Sigel expects the odds of a US-approved spot Solana ETF will be “overwhelmingly high” by 2025’s end. Part of Sigel’s rationale was based on a more crypto-friendly regulatory environment under the Trump administration, which enters office on Jan. 20. Many industry pundits expect inflows into approved spot Solana ETF would be small relative to what’s been seen with the Bitcoin BTC tickers down $97,264 and Ether ETH tickers down $3,126.91 ETFs. Related: US regulators mull approving Grayscale crypto index ETF Solana has been one of the top performers this bull cycle, increasing 2360% to $236.91, CoinGecko data shows. However, Solana was one of the worst performers in the bear cycle when compared to other large-cap coins, and it still hasn’t set a new all-time high this cycle. It comes as the Securities and Exchange Commission delayed its decision to approve the Franklin Templeton Crypto Index ETF until early 2025. Asset managers have also submitted filings for spot Litecoin LTC tickers down $89.99 ETFs

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