Grayscale has officially launched the Grayscale XRP Trust ETF (ticker: GXRP), opening a new door for institutional and retail investors seeking direct market exposure to one of the most established digital assets in the world. The product now trades with 0% fees for its first three months of activity on up to the first $1 billion in assets, giving early investors an incentive to enter the market while GXRP begins price discovery among brokerage accounts. Grayscale, the world’s largest crypto-focused asset manager by assets under management as of October 31, 2025, expands its ETF lineup at a time when interest in digital assets continues to increase. GXRP gives investors a new, regulated pathway to gain exposure to XRP, currently the world’s 3rd largest digital asset by market capitalization, excluding stablecoins, as of November 19, 2025. But even with these advantages, investors should note that GXRP operates differently than traditional ETFs. The fund is not registered under the Investment Company Act of 1940, meaning it does not carry the same regulatory protections or requirements as 40 Act-registered products. Investing in GXRP carries significant risk, high market volatility, and the possibility of losing the original invested principal. The fund itself does not hold XRP directly on behalf of investors, and owning GXRP is not the same as owning XRP directly. While GXRP makes exposure easier, every share also comes with the risks typical of the crypto markets. Fee Waiver Designed to Fuel Early Adoption The early launch strategy signals how aggressively Grayscale plans to capture market share in the XRP investment category. GXRP trades with a 0% gross expense ratio during the first three months or until the product reaches $1 billion in assets under management. After this period or threshold, the fund moves to a 0. 35% fee. Brokerage costs and other trading expenses may still apply. Grayscale has positioned the waiver as a way for investors to experience the product without immediate management costs, appealing to both crypto-native traders and traditional investors entering the market for the first time. This strategy mirrors recent ETF launches across other top blockchains, where low introductory fees help build early liquidity and tighten spreads. New XRP ETFs Expand Institutional Access GXRP’s debut comes alongside a wave of new XRP investment products, including recent ETFs launched by Franklin Templeton. The sudden expansion in institutional investment vehicles marks a turning point for XRP’s market structure. Until now, most professional exposure to XRP required direct holdings, private trust investment, or bespoke asset management arrangements. The ETF format changes that dynamic. The availability of multiple XRP ETFs gives institutional desks, RIAs, hedge funds, and retail brokerage investors standardized exposure to XRP price movement. Orders run through traditional trading rails, clearing firms, and account structures investors already use. This change lowers onboarding friction and increases the likelihood of XRP becoming part of wider portfolio construction, diversification strategies, or digital asset allocation models. Market participants are now watching whether increased institutional flow can sustain XRP’s recent streak of outperformance. The broader crypto market posted roughly 11. 1% growth in daily movement, but XRP outpaced that performance, continuing a trend that has strengthened in recent days. XRP Maintains Strong Category Positioning XRP continues holding firm positioning within the Layer-1 ecosystem. The asset ranks 4th among major Layer-1 blockchains for daily performance, showing strong relative strength even as overall sector volumes remain uneven. XRP is outperforming the Layer-1 category by roughly 12. 8% over the past 24 hours, pushing more traders to take notice. Interestingly, this performance comes despite lower trading volume compared to the market average of 35. 8%. Typically, strong growth during periods of softer volume signals one of two dynamics: either buy-side liquidity is driving upward pressure, or supply is thinning as traders hold, waiting for higher prices. Both interpretations suggest a market environment where price moves could become more pronounced if volume increases. This is where ETFs like GXRP enter the picture. If institutional demand arrives in size through ETF channels, volume could expand rapidly. That flow could replace what the exchange market currently lacks and help strengthen price stability as more capital enters through brokerage accounts rather than direct crypto markets. ETF Structure Highlights the Shift in Crypto Market Maturity GXRP’s launch shows how quickly digital asset markets are moving toward traditional financial frameworks. Investors no longer need crypto exchange accounts, private keys, or direct on-chain exposure to participate in XRPs price movement. Instead, they can trade the fund directly in brokerage accounts, retirement vehicles, or financial advisory platforms. However, investors must evaluate the differences carefully. GXRP is an exchange-traded product, but not one registered under the Investment Company Act of 1940. That means it does not carry the same regulatory oversight, governance conditions, liquidity requirements, or investor protections that traditional mutual funds and ETFs are required to provide. It also means market performance will reflect XRP price exposure without the operational structure of standard 40 Act products. Crypto ETFs often bridge a gap: they simplify exposure but also require investors to accept the volatility and regulatory differences of digital assets. With XRP known for large price swings, GXRP will likely reflect those dynamics directly in its share price. What Investors Should Watch Next The big question now is how much institutional capital these new ETFs can attract. If inflows scale, they could provide XRP with a steady foundation of long-term market participants, offsetting the lower average trading volumes currently seen across exchanges. If inflows remain slow, XRP could see its price movement weaken against broader market trends, particularly if larger Layer-1 assets draw more trading volume. Investors should monitor: Early AUM growth in GXRP and competing XRP ETFs Whether volume increases in brokerage-driven trading Correlation between ETF inflows and price momentum Market liquidity changes if institutional interest accelerates Grayscale’s launch campaign, including posts from the company’s official channels on X, positions GXRP as a milestone product. With adoption trending up, digital assets increasingly integrated into traditional financial systems, and XRP maintaining strong performance against peers, the coming weeks could define how powerful ETF demand becomes as a market story. As with all investments, especially in digital assets, investors should read the fund’s prospectus carefully and weigh their risk tolerance before participating. The crypto market moves fast, and XRP’s new institutional era now begins in full view of the industry, regulators, and traders worldwide. Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
https://themerkle.com/grayscale-xrp-trust-etf-launch-signals-new-phase-for-institutional-xrp-access/
Tag: capitalization
New Jersey deli fraudsters fail to pay millions of dollars in restitution, judge says
Google Earth That’s one big deli bill to skip out of paying. A federal judge is hotter than a newly brewed pot of coffee over the failure of Peter Coker Sr. and his son, Peter Coker Jr., to pay millions of dollars in restitution for their leading roles in the notorious $100 million New Jersey deli stock fraud. The Coker convicts owe a total of $5. 56 million to victims of their scam, which involved illegally inflating the stock prices of two publicly traded companies to make them attractive candidates for mergers. The scheme led to one of the companies, then-known as Hometown International, having a market capitalization of more than $100 million despite owning only one small, money-losing delicatessen in the hardscrabble south Jersey town of Paulsboro. Shares of the other company, then known as E-Waste, were worth even more on paper at one point despite owning no appreciable assets. Judge Christine O’Hearn, in a scathing order about the Cokers on Monday, said, “It appears . that, despite having substantial liquid assets at the time the sentence was imposed, neither Defendant has complied with the restitution deadlines set by the Court. It appears to the Court that Defendants have purposefully failed to make payment, perhaps in an effort to avoid doing so and/or dissipating or transferring assets,” O’Hearn wrote in U. S. District Court in New Jersey. Dan Mangan | CNBC Peter Coker Sr., who lives in Chapel Hill, North Carolina, owed his first installment of $2. 5 million in restitution within 30 days of Aug. 11, according to an order by O’Hearn in August. Coker Jr., a businessman who previously lived in Hong Kong, owed his first installment of $1. 5 million within 30 days of the same date. The Cokers and a third defendant who pleaded guilty in the case, James Patten, are jointly liable for the $5. 56 million in total restitution. Patten has yet to be sentenced; because of that, he is not currently required to start paying restitution. Retail investors are owed $178, 849 in total restitution. And investment arms of Duke and Vanderbilt universities are owed $3. 1 million and $2. 3 million, respectively, in restitution. In her Monday order, O’Hearn demanded answers from prosecutors and the Cokers’ lawyers within two weeks on questions related to the failure to pay restitution so far. The judge told them “to take all necessary steps forthwith to secure payment of the restitution amounts previously ordered.” One potential hurdle to getting money from Peter Coker Jr. is the fact that the 57-year-old is no longer in prison or even the United States. Coker Jr. renounced his U. S. citizenship years ago. On Oct. 16, a day after his release from prison, he we was deported to the Caribbean nation of St. Kitts and Nevis, where he has citizenship, according to a letter to O’Hearn from his lawyer. Crime Suppression Division, Royal Thai Police | AP His father, Peter Coker Sr., 83, is slated to be released on Dec. 8 from a residential reentry facility in North Carolina maintained by the U. S. Bureau of Prisons, having been released from a prison in Butner, North Carolina, on Tuesday. Coker Sr.’s lawyer, Zach Intrater, in a letter last week to O’Hearn, disputed the idea that he owed any payments toward restitution while he was still locked up in prison. Intrater, who did not respond to a request for comment from CNBC, in that letter said that “Mr. Coker, Sr., is not looking to avoid his responsibilities under the amended judgment,” and that he “will begin making the required payments toward restitution.” The lawyer said Coker Sr. would pay no less than $1, 000 on Dec. 17, given his understanding of the restitution order. “If this is an incorrect reading of the Court’s Amended Judgment, then the fault is with the undersigned counsel, and not with my client,” Intrater wrote. O’Hearn, in a sharp footnote in her order Monday, rejected Intrater’s reading of the restitution order. “Beyond its express terms, it was clear that such monies were to be paid immediately. Indeed, there had been prior discussions and proposals by counsel as to an immediate up front payment, albeit in a much lesser amount with later installments thereafter, which the Court declined to adopt.” Both Cokers pleaded guilty before O’Hearn last December to securities fraud and conspiracy to commit securities fraud. In May, O’Hearn sentenced the elder Coker to six months in jail, and Coker Jr. to 40 months in prison. The younger Coker was released last month because he received credit for the more than two years he spent locked up in a New Jersey jail before his sentencing. John Azzarello, a lawyer for Coker Jr., in a letter to the judge on Thursday, said his representation of Coker Jr. ended with his sentencing, that he has no contact with the fraudster since his sentencing, and “we do not know Mr. Coker Jr.’s current whereabouts. Mr. Coker Jr. also has an outstanding invoice for legal services rendered which remains unpaid to date,” Azzarello wrote. Azzarello did not respond to requests for comment. CNBC has also requested comment from the U. S. Attorney’s Office for New Jersey, which prosecuted the Cokers and Patten.
https://www.cnbc.com/2025/11/24/new-jersey-deli-fraud-coker-restitution-judge.html
ASTER News: ASTER Eyes Breakout Targets After Defending Fib Confluence Zone
ASTER shows bullish potential. It defends a key support zone, eyeing breakout targets at $1. 471, $1. 651, and $1. 819 if momentum builds. ASTER is currently showing bullish continuation potential. Indeed, ASTER is respecting its ascending channel. It is pulling back into a key support zone. This is also in line with a Fibonacci confluence. ASTER Defends Key Support, Bullish Momentum Expected If buyers can successfully defend this important area, the price could launch significantly. It could move towards $1. 471, $1. 651 and an extended target at $1. 819. The overall structure is still bullish. Traders are now simply waiting for the momentum to hit. The price of the Aster (ASTER) cryptocurrency is trading at 1. 12. This is done on the basis of dynamic market situations. According to CoinMarketCap data, the value is currently ranging between $1. 08-$1. 20. The daily trading volume is more than $530 million USD. Market capitalization is around $2. 81 billion USD. If momentum is maintained beyond the first resistance, more targets are forecast. These are in line with the previous structural highs. They also align with the boundaries of channels. Related Reading: Aster News: Coinbase Adds Aster as Next-Gen DEX Gains Momentum | Live Bitcoin News A target of $2. 90 is identified. This level is a possible target. This occurs after an established breakout. This has to be done above equilibrium resistance. Making the move successfully and on a sustained basis can lead to a test. This would be the next significant liquidity cluster. It could also retest all-time highs. One analysis makes reference to a possible move. This could reach the $3. 40 to $4. 40 range. This however is in a different context. Key Observations Signal Potential Explosive Expansion for ASTER There was a strong bounce from the Fibonacci level. VWAP support gave strength as well. This is a sign of strong demand. This is within the $1. 20 $1. 65 range. In addition, price action has formed an equilibrium. This is also known as a pennant structure. This is often preceded by an explosive expansion move. This happens when breakout confirmation is achieved. Volume and Confirmation are very important. Traders focus on a clean close above resistance on a daily basis. This has to be accompanied by volume confirmation. This validates the breakout. And it also helps avoid possible traps. However, traders are advised to follow closely on price action. They also have to manage risk effectively. Failure to support important support levels could invalidate the bullish structure entirely. For more detailed analysis, visit the latest ASTER trade ideas on TradingView. This helps to provide comprehensive insights. What is critical is the defence of the present support zone. In addition, it helps set the stage for ASTER’s next possible price path. The market is waiting for buying pressure. This will confirm the bullish outlook. Continued vigilance is important to traders to avoid losses in crypto.
https://bitcoinethereumnews.com/tech/aster-news-aster-eyes-breakout-targets-after-defending-fib-confluence-zone/
Australia’s Qube Holdings’ shares jump 20% as Macquarie proposes $7.5 billion takeover deal
Australia’s Qube Holdings announced on Monday that Macquarie Asset Management had submitted a non-binding proposal to acquire the logistics company at an enterprise value of 11. 6 billion Australian dollars ($7. 49 billion). Macquarie has offered to acquire Qube for AU$5. 2 in cash per share, representing a nearly 28% premium to Qube’s closing level of AU$4. 07 on Friday. Qube shares jumped nearly 20% to AU$4. 87 in early trading on Monday. The takeover bid followed a period of negotiations after a lower unsolicited offer from Macquarie asset management earlier, Qube said in its filing, without specifying the exact value of the previous offer. The enterprise value represents about 14. 4 times Qube’s EBITDA for financial year 2025, according to the filing. Enterprise value typically measures a company’s total value, including its market capitalization and the cost to pay off its debt, minus cash. Qube’s operations mostly involve container leasing, car and grain cargo terminals and road and rail transport services. The deal is subject to a “satisfactory completion” of due diligence on Qube and its operations, final approval from both companies’ boards and regulatory approvals. “The Proposal from Macquarie Asset Management is a reflection of the strength of Qube’s business model and our assets, and the quality of our people and culture. We look forward to continuing to engage constructively in the best interests of our shareholders,” Qube Chairman John Bevan said in the filing.
https://www.cnbc.com/2025/11/24/australia-qube-holdings-shares-jump-macquarie-takeover-deal.html
XRP Price Today: XRP Forms Bullish ‘W’ Pattern as Traders Eye Breakout Above $2.53
After several days of consolidation, the XRP price is building strength near a critical resistance zone, sparking optimism among market participants. However, growing whale activity and profit-taking suggest that traders remain cautious, waiting for stronger confirmation before committing to the next leg up.
**XRP Price Holds Steady Amid Profit-Taking and Rising Volume**
As of November 11, 2025, XRP trades at $2.45, marking a modest 1.16% daily decline from $2.48. Despite the dip, trading volume surged by more than 34%, reaching $6.14 billion in the last 24 hours. This increase in volume during a pullback often signals repositioning among traders rather than panic selling, indicating potential accumulation ahead of XRP’s next move.
XRP was trading at around $2.45, down 3.15% in the past 24 hours at press time. The steady price action and high volume have pushed XRP’s total market capitalization to roughly $147.5 billion. While short-term selling persists, the broader structure remains bullish as long as prices hold above the $2.15-$2.20 demand zone.
**Analysts Spot Bullish ‘W’ Formation**
Technical analysts are closely watching a bullish “W” pattern forming on the 12-hour XRP/USDT chart—a classic double-bottom structure that signals reversal potential. According to crypto trader Steph_iscrypto, “Support around $2.00 remains firm, with a possible breakout above $2.53 that could propel XRP toward $3.25 if volume confirms the move.”
This bullish pattern, alongside Ripple’s recent regulatory progress, aligns with broader market optimism. Still, analysts caution that social media enthusiasm surrounding the “W” formation could amplify volatility as traders rush to interpret similar chart setups shared across X.
**Whale Activity Sparks Mixed Sentiment**
On-chain data adds another layer of intrigue. Analyst Ali recently noted that, “90 million XRP were sold by whales in just 72 hours,” referencing a Santiment chart that showed large holder activity earlier this month. Over 6 billion XRP moved during this period, corresponding with a price decline from $3.30 to $2.30.
This suggests renewed interest from retail investors, possibly taking advantage of lower entry points. Historically, similar whale sell-offs have coincided with short-term bottoms and recovery phases, giving bulls reason to remain optimistic.
**Technical Outlook: Resistance at $2.65-$2.70 Key for Bullish Continuation**
From a technical standpoint, the current XRP price faces strong resistance between $2.43 and $2.65, where multiple moving averages (20, 50, and 100-day EMAs) have converged. This range has capped every rebound since September, making a daily close above $2.70 the key trigger for a sustained breakout.
A breakout above $2.70 could propel the XRP price toward $2.90 and possibly $3.10. Yet, bulls have successfully defended the structural base between $1.95 and $2.15, preventing deeper corrections.
Notably, open interest in XRP futures has recently climbed to $4.11 billion, indicating increased speculative positioning. However, a combination of rising open interest and falling prices typically signals new short entries, suggesting traders are bracing for volatility near the resistance zone.
**Traders Await Confirmation Before the Next Move**
The setup for Ripple (XRP) now appears binary: a decisive breakout above $2.70 could trigger a bullish reversal toward $2.90 and eventually $3.10, while another rejection may push prices back toward the $2.15 accumulation pocket.
Overall, sentiment remains mixed but cautiously optimistic. With whale activity stabilizing, technical structures tightening, and buyers defending key levels, XRP’s next move could determine the tone for the rest of November. Traders now await confirmation—and potentially, the start of the next major XRP price rally.
https://bitcoinethereumnews.com/tech/xrp-price-today-xrp-forms-bullish-w-pattern-as-traders-eye-breakout-above-2-53/
Bitcoin, Ethereum ETFs Shed $2.6 Billion in Assets Over the Past Week
Investors have cashed out a combined $2.6 billion from U.S. Bitcoin and Ethereum exchange-traded funds (ETFs) over the past week, marking one of the largest redemption periods in the funds’ history. Since October 29, more than $1.9 billion has left Bitcoin funds, while $718.9 million has been pulled out of their Ethereum counterparts, according to data from Farside Investors. These significant outflows have contributed to downward pressure on the two largest cryptocurrencies by market value.
On Tuesday, Bitcoin dropped below $100,000 for the first time since May. BTC was recently trading at slightly over $103,428, up 2.6% on the day but still about 18% below its October record of $126,080, according to CoinGecko data. Ethereum was changing hands for $3,439, marking a more than 5% 24-hour jump, although it has plummeted by 13% over the past week. The second-biggest digital coin by market capitalization has struggled to trade near its August record of $4,946.
Investors have largely veered away from crypto and other risk-on assets since October amid concerns over several factors. These include U.S. President Donald Trump’s escalation of the trade war against China, the ongoing government shutdown, low market liquidity, and diminishing prospects of a third U.S. interest rate cut before the end of the year.
Despite Trump’s pro-crypto rhetoric and policy stance, Bitcoin has experienced shocks along with tech stocks in recent months. These challenges have stemmed from ongoing macroeconomic uncertainties. Notably, in February, spot Bitcoin ETFs endured their longest and most difficult losing streak, with investors withdrawing over $2.2 billion during eight consecutive days following the president’s tariff announcements.
Financial advisor Ric Edelman, who heads the Digital Assets Council of Financial Advisors, struck an optimistic tone. He highlighted the significant inflows both categories of funds have generated within their brief histories. The Bitcoin ETFs had the most successful debut in ETF history following their January 2024 approval and now manage a total of $145.4 billion in assets.
“Looking at dollar flows distorts the picture,” Edelman told Decrypt. “The Bitcoin ETFs have collected more than $100 billion in assets, so while $2 billion in outflows sounds like a lot, it’s only 2% — hardly noteworthy.”
He added, “What is noteworthy is that, despite these outflows, Bitcoin’s price hasn’t crashed. This is because of the strong institutional inflows that are simultaneously occurring. This wouldn’t have been the case 10, five, or even two years ago, and shows the continuing maturity of this asset class.”
https://bitcoinethereumnews.com/bitcoin/bitcoin-ethereum-etfs-shed-2-6-billion-in-assets-over-the-past-week/
IREN stock jumps after MSFT deal, analyst ups price target
**IREN Ltd. Stock Price Surges After Major Data Center Partnership with Microsoft**
IREN Ltd., a leading company in the Bitcoin (BTC) mining and data center industry, has seen its stock price continue a strong surge this month after securing a significant data center partnership with Microsoft. The stock jumped to a record high of $75.30, soaring over 1,200% from its lowest level earlier this year. This remarkable increase has pushed IREN’s market capitalization to over $19 billion.
The surge comes on the heels of a $9.7 billion, five-year deal signed with Microsoft. The agreement, set to begin implementation in 2026, includes a 20% prepayment and is estimated to deliver an EBITDA margin of 85%. This deal marks a significant validation for IREN, which recently pivoted to the AI colocation industry.
In its most recent financial results, IREN’s AI colocation business generated only $7 million in the fourth quarter. However, the partnership with Microsoft is expected to attract other potential customers, including major players like Oracle, Meta Platforms, OpenAI, Amazon, and Anthropic. Notably, OpenAI has already entered into a similar agreement with CoreWeave, while Meta Platforms partnered with Nebius.
Wall Street analysts remain optimistic about IREN’s future performance. According to Yahoo Finance data, the average revenue estimate for IREN, which will be announced this Thursday, is $241 million—a staggering 344% annual increase. Projections indicate $257 million in revenue for the second quarter and $1.2 billion for the current financial year. These figures represent substantial growth compared to the $512 million generated in the previous fiscal year.
Importantly, unlike competitors such as CoreWeave, IREN’s business is already profitable. Annual earnings per share are expected to rise to $1.60, up from 35 cents last year. Analysts believe there is additional upside potential for IREN’s stock price. Darren Aftahi of Roth MKM recently raised his price target from $82 to $94, implying a 55% gain from the current level. Similarly, Gautam Chugani, an analyst at Bernstein, projects the stock will climb to $75, reflecting a 24% increase.
**IREN Stock Price Technical Analysis**
Looking at the daily timeframe chart, IREN’s share price has been on a strong uptrend throughout the year, climbing from a low of $5 in April to a high of $75 this week. The stock has consistently remained above all moving averages, indicating bullish dominance.
However, there are some technical concerns. The stock appears to have formed a double-top pattern around $74, with a neckline at $48. Additionally, the MACD indicator shows a bearish divergence, suggesting weakening momentum. This could lead to a strong bearish breakdown as investors potentially “sell the news” when IREN releases its upcoming financial results later this week.
Investors should watch closely for signs of a retreat in the stock price following these important developments.
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*Stay tuned for updates on IREN Ltd.’s financial results and market reaction.*
https://bitcoinethereumnews.com/tech/iren-stock-jumps-after-msft-deal-analyst-ups-price-target/
Bitcoin’s November sell-off worsens as investors take risk off on worries about the AI trade
Bitcoin fell victim to a risk-off mood on Tuesday, as investors dumped the cryptocurrency amid growing concerns about the sustainability of AI stock values.
Bitcoin was last trading at $103,952, down 2.5% on the day and around 6% over the past two days. Ether, the second-largest cryptocurrency by market capitalization, also saw declines, shedding 2.5% on Tuesday and losing more than 10% over two days to trade at $3,503.
Although Bitcoin’s safe-haven status has strengthened recently, the token shares many of the same large investors as artificial intelligence stocks. This overlap links the two trades, causing both to decline when one falters.
Nasdaq futures were down 1.5% on Tuesday, with investors selling AI-linked Palantir amid concerns about its sky-high valuation, despite the company posting solid earnings results.
Compass Point analyst Ed Engel also noted that retail investors may not be buying the dip as actively as before. “While selling from long-term holders is a common feature in bull markets, retail spot buyers have been less engaged than prior cycles,” he said in a note.
https://www.cnbc.com/2025/11/04/bitcoins-november-sell-off-worsens-as-investors-take-risk-off-on-worries-about-the-ai-trade-.html
Evernorth’s $1 Billion+ XRP Purchase Marks Largest Single Institutional Acquisition for Digital Asset ⋆ ZyCrypto
**Evernorth Holdings Boosts XRP Holdings with Over $1 Billion Acquisition**
Ripple-backed digital asset firm Evernorth Holdings has made significant moves in the cryptocurrency market by acquiring a large stack of XRP tokens. These substantial purchases have positively influenced market sentiment, driven by new whale inflows into the asset.
This year, corporate crypto treasuries have notably increased their holdings as more companies seek to diversify their balance sheets. On-chain data reveals that Evernorth Holdings accumulated more than 388.7 million XRP, valued at over $1 billion, soon after unveiling its crypto treasury. This acquisition marks a significant milestone for the company, which officially launched on October 20.
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**Plans for Nasdaq Listing and Strategic Collaborations**
Evernorth is considering listing as a publicly traded XRP company on Nasdaq, a move warmly welcomed by the crypto community. Asheesh Birla, Evernorth’s CEO, has pledged to deepen collaborations with XRP, including upcoming deals with Rippleworks and the SBI Group.
Birla, who stepped down from Ripple to lead Evernorth, is playing a pivotal role in strengthening the relationship between the two entities. Moreover, plans are underway to finalize a merger with Armada Acquisition Corp. II. Concurrently, the company aims to raise approximately $1 billion to fund additional crypto purchases.
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**Backing from Leading Investors**
“We’re backed by a world-class group of investors and leaders, including SBI, Ripple, Arrington Capital, Pantera Capital, and Kraken — firms that share our conviction in XRP’s future,” Birla stated. He emphasized that XRP now enjoys clear regulatory standing in the United States, paving the way for large-scale adoption.
Birla described Evernorth as a trusted and transparent bridge to public markets at a time when institutional demand for cryptocurrency is surging.
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**Market Context and XRP’s Resilience**
Previously, XRP faced negative pressure following lawsuits filed by the United States Securities and Exchange Commission (SEC) alleging the sale of unregistered securities. However, the prospect of a pro-crypto approach during former President Trump’s second term shifted market dynamics significantly. This change encouraged bullish investments as regulators began ushering in clearer rules.
Top cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and XRP, recorded substantial growth within months. Notably, XRP briefly surpassed USDT as the third-largest cryptocurrency by market capitalization.
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**Current Market Performance**
At the time of writing, XRP is trading at $2.63, up 10% over the past week. The wider market has remained relatively sideways, with traders exercising caution following a recent flash dip that erased previous gains.
Evernorth’s significant investment has energized short-term traders, who are also responding to previous analyst expectations of a price increase.
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**Growing Institutional Interest in XRP**
XRP-based treasury firms are gaining momentum through a steady influx of traditional capital. Last week alone, institutional investments in XRP funds exceeded $84 million, signaling growing confidence in the asset’s long-term potential.
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With Evernorth’s strong backing and strategic initiatives, XRP appears well-positioned to capitalize on increasing institutional demand and regulatory clarity, setting the stage for potential growth in the coming months.
https://bitcoinethereumnews.com/tech/evernorths-1-billion-xrp-purchase-marks-largest-single-institutional-acquisition-for-digital-asset-%e2%8b%86-zycrypto/?utm_source=rss&utm_medium=rss&utm_campaign=evernorths-1-billion-xrp-purchase-marks-largest-single-institutional-acquisition-for-digital-asset-%25e2%258b%2586-zycrypto
Big Short Investor Michael Burry Breaks Silence to Warn of Market Bubble
**Michael Burry Issues First Market Warning Since April 2023, Cautions of Possible Bubble but Stays on Sidelines**
Michael Burry, the investor renowned for predicting the 2008 housing crisis, has made his first public statement since April 2023. On October 31, 2025, Burry posted a cryptic warning on X about a potential market “bubble,” while indicating he sees no clear way to profit from it.
His post read:
“Sometimes, we see bubbles. Sometimes, there is something to do about it. Sometimes, the only winning move is not to play.”
This quote references the 1983 movie *Wargames*, suggesting Burry recognizes risky speculation in the market but is choosing not to bet against it.
### “Cassandra Unchained” – A New Moniker with a Message
Burry also changed his X profile name to **“Cassandra Unchained.”** This nods to the Greek mythological figure Cassandra, who was cursed to make accurate predictions that nobody believed. The choice reflects Burry’s reputation for making accurate yet initially dismissed warnings.
### The Legacy of Michael Burry
Burry gained fame by predicting the collapse of the U.S. housing market before the 2008 financial crisis. He thoroughly analyzed subprime mortgages and used credit default swaps to short the housing sector. His foresight earned billions for his investors and was immortalized in the book and film *The Big Short*.
### What Bubble is Burry Warning About?
Unlike his previous clear identification of the housing bubble, Burry has not specified which market sector he is concerned about this time. Market observers speculate he may be referring to the technology sector, particularly the rapid rise of artificial intelligence (AI) investments.
Companies have invested hundreds of billions of dollars into AI infrastructure and data centers. For example, Nvidia’s market capitalization surpassed an astonishing $5 trillion as of October 29, 2025—exceeding the GDP of major economies like India, Japan, and Germany. This surge is largely driven by soaring demand for AI chips.
### Burry’s Current Market Position: Staying on the Sidelines
Unlike his famous housing market short, Burry is not betting against the market now. Instead, he appears to be taking a defensive, “wait and see” approach.
Throughout 2025, Burry’s Scion Asset Management has shown a shifting strategy:
– In Q1 2025, the firm liquidated nearly all its holdings, ending March with just seven positions. These included bets against Alibaba, JD.com, and Nvidia, plus shares in Estée Lauder.
– By the end of June, the portfolio expanded to 15 positions with call options on companies like Alibaba, Meta, ASML, UnitedHealth, Regeneron Pharmaceuticals, and Lululemon. Estée Lauder remained the only consistent holding throughout the year.
Burry’s upcoming 13-F filing, due in about two weeks, will reveal his holdings through the end of September 2025. His recent message suggests he may continue to adopt a cautious stance moving forward.
### Market Performance and AI Concerns
U.S. stock markets have performed strongly in 2025:
– The S&P 500 gained nearly 16% year-to-date.
– The Dow Jones Industrial Average rose 11.7%.
– The Nasdaq 100 surged 24.3%.
Tech companies have seen varied third-quarter earnings reactions. Meta and Microsoft stocks retreated following disappointing reports, while Amazon and Apple bounced back with strong earnings, lifting the indexes again.
Amid this, some investors worry about how AI expansion is being funded. Meta recently announced a $30 billion financing package for its Hyperion data center in Louisiana, utilizing a special purpose vehicle to keep debt off its balance sheet. The company is also reportedly considering an additional $25 billion bond sale, with a prospectus filed with the SEC.
### Final Thoughts
Michael Burry’s warning emerges amid growing debate over whether the AI-driven tech stock surge reflects genuine progress or inflated valuations. His decision to hold a defensive position — effectively sitting on the sidelines — suggests he sees significant risk but no clear opportunity to capitalize on right now.
Investors will be closely watching Burry’s next 13-F filing for clues on whether he maintained this cautious posture through the third quarter of 2025.
https://coincentral.com/big-short-investor-michael-burry-breaks-silence-to-warn-of-market-bubble/