Bitwise XRP ETF gains access on Vanguard
$10 trillion financial giant Vanguard now offers exposure to Bitwise's XRP ETF among other products.
- Big institutional move. Bitwise’s XRP ETF can now be traded by Vanguard clients.
Bitwise's XRP exchange-traded fund is now available for Vanguard clients, according to a recent social media post by chief executive officer Hunter Horsley. It began trading on Nov. 20, securing rather impressive inflows.
Vanguard, the world's second-largest asset manager with over $11 trillion in assets under management, has long been a conservative powerhouse in traditional investing.
No Vanguard ETF? Despite opening access, Vanguard says it still has no plans to launch its own crypto ETF.
For years, it has outright banned crypto-related products on its platform. It even blocked access to spot Bitcoin ETFs when they launched in January 2024. However, as reported by Bloomberg, more than 50 million of Vanguard's customers will be able to start trading select crypto ETFs and mutual funds that hold cryptocurrency assets.
Despite the massive reversal, the $10 trillion giant still has no plans to follow the example of rival BlackRock by launching its own ETF.
DOGE sees 528,408% short liquidation after surprise rebound
Dogecoin long traders face a brutal 528,408% liquidation imbalance as DOGE eyes recovery.
- Bear trap. DOGE shocked bearish traders with a massive 528,408% liquidation imbalance.
Dogecoin (DOGE) has stunned bears in the last hour after it registered a 528,408% liquidation as the meme coin saw a slight rebound. CoinGlass data shows that short position traders lost $37,630 in the last hour following the slight increase in price.
Notably, Dogecoin added a few cents from a low of $0.1324 to an intraday peak of $0.1374. This mild gain caused an astronomical liquidation on the hourly chart for the meme coin. The development left short-position traders with unexpected losses as they were betting on a continued downward fluctuation.
- Long traders dodged. The mild price increase triggered significant short wipeouts, while long traders saw only $7.12 liquidated.
Long traders were almost not impacted, as only $7.12 was wiped out within the same time frame of one hour. Attention is now on the king of meme coins to see if it can sustain the current gain and continue on an upward trajectory.
As of press time, Dogecoin exchanged hands for $0.1377, which represents a 1.32% increase in the last 24 hours. However, investors betting on the meme coin are yet to rekindle their interest, as trading volume is significantly down by 20.95% to $1.22 billion.
BTC monthly chart turns fragile as Bollinger Bands signal bearish setup
Bitcoin may look calm at $87,000, but the Bollinger Bands say this pause does not mean safety.
- Bollinger Bands shift. December opened with a heavy red candle that erased late-November gains.
While the price of BTC seems to stabilize at around $87,000, the environment — and, more importantly, the chart structure — does not look stable at all. This fragility is particularly evident in the Bollinger Bands, a popular indicator developed by veteran trader John Bollinger.
Looking at the price of BTC on the monthly time frame perfectly characterizes why the cryptocurrency seems so fragile in its current setup, extreme fear aside. The month opened for Bitcoin with a nasty red candle that erased all the late-November gains, pushed the price under the middle band and immediately switched the mode to a bearish one.
- 40% drop. This setup increases the probability of a move toward the lower band near $52,000.
In this case, it is now more probable for BTC to hit the lower band — at $52,000 right now — a scenario that implies a 40% crash from the current $87,000 price tag.
If one were to defy this option for Bitcoin, it might be said that the current dip below the midband is nothing more than manipulation, but for this thesis to prove correct, the price would need to flip back above $88,890 per BTC and stay there for at least a week.
Until this happens, it is bear mode for Bitcoin, with hitting $52,000 as the prime scenario.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team