The New York Stock Exchange’s (NYSE) 19b-4 filings to list and trade the Grayscale Solana and Litecoin exchange-traded fund (ETF) have been formally recognized by the US Securities and Exchange Commission (SEC).
The regulatory agency requested public comments on both files on February 6. After they are published in the Federal Register, comments must be sent in within 21 days.
The SEC’s initial recognition of Solana ETFs
It is an important step that the SEC has acknowledged Solana (SOL) ETFs for the first time.
UPDATE: SEC just acknowledged the @Grayscale Solana 19b-4. This is actually newsworthy because the SEC had refused to do this in recent filing attempts for SOL pic.twitter.com/m2D88GKG5i
— James Seyffart (@JSeyff) February 6, 2025
He said that this ruling may signal a change for exchanges or companies who are being sued by the SEC for classifying Solana as a security. Eleanor Terrett, a writer with Fox Business, agreed, describing the action as “very noteworthy.”
“The same SEC asked the CBOE to withdraw issuers’ Solana filings just a few weeks ago when Gensler was still at the helm,” Terrett explained.
Eric Balchunas, a senior ETF analyst at Bloomberg, concurred. He underlined how important it is that the SEC has recognized a product linked to a digital asset that was once classified as a “security.”
Notable bc this is the first time an ETF filing tracking a coin that had prev been called a “security” has been acknowledged by SEC. Only six weeks ago the Genz-led SEC told CBOE to withdrawal their Solana 19b-4. So we are now in new territory, albeit just a baby step, but… https://t.co/XiRyA8g3R7
— Eric Balchunas (@EricBalchunas) February 6, 2025
Bitwise, VanEck, 21Shares, and Canary Capital filed 19b-4 applications for Solana ETFs on the Chicago Board Options Exchange (Cboe), which prompted the SEC to take action.
Gary Gensler’s exit, meantime, has led to an increase in ETF registrations. This is due to the fact that many people expect a more positive attitude toward things associated to cryptocurrency.
According to Seyffart, the Solana ETF application is expected to be decided by the end of October.
Grayscale Litecoin ETF gets initial nod
The SEC has recognized the NYSE’s 19b-4 filing to list and trade shares of the Grayscale Litecoin Trust in addition to the Solana ETF. This is the second time an ETF for Litecoin (LTC) has been recognized.
The spot Litecoin ETF could be the next to receive regulatory approval, according to Seyffart.
Sticking to my call/view that Litecoin will be the next digital asset to be approved by the SEC for a spot ETF wrapper 👀 https://t.co/6aDONSREWN
— James Seyffart (@JSeyff) February 6, 2025
In the meantime, Nasdaq’s 19b-4 filing to permit in-kind creations and redemptions on the iShares Bitcoin Trust ETF (IBIT) was accepted by the SEC the same day. This was long delayed, but it was a positive start, according to Nate Geraci, president of The ETF Store.
Btw, IBIT in-kind creations & redemptions filing acknowledgement not biggest story IMO b/c should have been allowed from beginning…
Ridiculous we’re still doing cash creates & redeems.
— Nate Geraci (@NateGeraci) February 7, 2025
It is encouraging that the SEC has acknowledged the submissions for the Litecoin Trust and Grayscale Solana ETF. Regulatory clearance is still a long way off, though. It remains to be seen if President Trump’s new SEC would approve cryptocurrency ETFs more quickly.
Over $3 billion Bitcoin and Ethereum options expiring as markets digest effects of Trump tariffs
Options worth over $3.12 billion in Ethereum (ETH) and Bitcoin (BTC) expire today. Will the price increase when the pioneer cryptocurrency’s billion-dollar or more notional value expires, given that it is still below $100,000 this week?
Because it has the ability to impact short-term trends through the volume of contracts and their notional value, market observers pay close attention to this occurrence. An understanding of traders’ expectations and potential market orientations may be gained by looking at the put-to-call ratios and maximum pain points.
Insights on today’s expiring Bitcoin and Ethereum options
The Bitcoin options that expire today have a notional value of $2.56 billion. According to Deribit’s statistics, the put-to-call ratio for the 26,251 Bitcoin options that are about to expire is 0.57. This ratio indicates that buy options (calls) are more common than sell options (puts).
Additionally, the research shows that $99,500 is the maximum pain point for these expiring options. The price at which the asset will result in the largest amount of holders’ financial losses is known as the maximum pain point.
Today marks the expiration of 204,376 Ethereum options contracts in addition to Bitcoin options. The put-to-call ratio is 0.46, the maximum pain point is $2,950, and the notional value of these expiring options is $557.04 million.
There are a lot fewer Bitcoin and Ethereum options expiring today than there were last week. According to BeInCrypto, there were 80,179 contracts of expired Bitcoin options last week, while there were 603,426 contracts for Ethereum.
The selections from last week, which represented the total for the month, are the source of this slight discrepancy. As a result, almost $10 billion worth of options were set to expire.
Greeks.live, a supplier of options trading tools, released its market analysis before to the expiry. It clarified why the maximum pain levels for Bitcoin and Ethereum were below the $100,000 and $3,000 thresholds, respectively, and it emphasized the generally negative tone in the market this week.
7 Feb Options Data
26,000 BTC options expired with a Put Call Ratio of 0.58, a Maxpain point of $99,500 and a notional value of $2.54 billion.
203,000 ETH options expired with Put Call Ratio of 0.46, Maxpain point of $2,950 and notional value of $560 million.
Market sentiment was… pic.twitter.com/UbN9mtdrJ6— Greeks.live (@GreeksLive) February 7, 2025
The options trading tool illustrates how US President Donald Trump’s tariffs have affected sentiment in light of this. The biggest one-day liquidation event in history was brought on by the trade policies, which were a major market driver this week. Potential trade conflicts are still a source of concern for traders, which might worsen the situation.
The options trading tool illustrates how US President Donald Trump’s tariffs have affected sentiment in light of this. The biggest one-day liquidation event in history was brought on by the trade policies, which were a major market driver this week, according to BeInCrypto. Potential trade conflicts are still a source of concern for traders, which might worsen the situation.
Accordingly, Greeks.live’s experts attribute the present volatility to these worries, pointing to anticipated future market movements.
“The market is still digesting the effects of 3 months of Trump Trade, with deliveries accounting for 10% of total positions this week, with call options trading down significantly and Block puts growing as a percentage of volume,” the analysts added.
However, it is impossible to ignore the impact of macroeconomics. Since total risk in the cryptocurrency industry is now more connected, traders will be watching how these macro events affect markets as the US Unemployment and Non-Farm Payrolls statistics for January are anticipated today.
🚨 Todays Market Movers: Fri, Feb 7th, 2025 🚨#GM #Crypto
With the BoE cutting rates & slashing growth forecasts, and a slightly elevated unemployment claims number form the US, yesterday ended +ve for markets, but Crypto still bleed. Will todays US jobs data make or break… https://t.co/euqaDO79Z2 pic.twitter.com/AaHg1SyDob
— AlphaBTC (@mark_cullen) February 7, 2025
Dogecoin (DOGE) price struggles to gain momentum as trading volume falls 36%
The price of Dogecoin (DOGE) has decreased by almost 3% during the past day. In spite of Neptune Digital Assets purchasing $370,000 DOGE, its trading volume has decreased 36% to $1.65 billion. The price has struggled to acquire positive momentum and has been trapped below $0.33 for almost a week.
The Ichimoku Cloud and EMA lines support the negative risks, as technical indicators continue to display a bearish situation. The trend is still weak and might continue to decrease until DOGE can break important resistance levels.
Ichimoku Cloud shows a bearish outlook for DOGE
Given that the price is trading below the cloud, the Dogecoin Ichimoku Cloud chart indicates a pessimistic outlook. Resistance levels may continue to be high in the near future, as the future cloud is still red, indicating ongoing downward pressure.
Instead of a sudden trend reversal, the conversion line (blue) is now drifting sideways close to the baseline (red), indicating a period of consolidation.
Even though Canadian cryptocurrency startup Neptune Digital Assets announced that it had acquired $350,000 worth of DOGE in December, pessimistic sentiment is still prevalent since the price has failed to gain momentum above these limits.
The fact that the lagged span (green) is below the price action further supports the idea that the DOGE price is continuing declining. The downward-sloping cloud in front of us supports the idea that negative momentum may continue.
For the time being, DOGE is still in a poor position with no obvious indications of recovery, but if the baseline flattens as the conversion line rises, it might signal a possible trend change.
Dogecoin BBTrend is still negative, but going up
Dogecoin BBTrend has been negative for the last two days and is now at -21.7. Yesterday, it reached a top of -26.1 before starting to decline, indicating that the negative trend is still there but is waning a little.
Based on Bollinger Bands, the BBTrend indicator gauges the strength of a trend. Bullish momentum is indicated by positive numbers, whereas a bearish trend is suggested by negative values. The trend in either direction is stronger the farther the value deviates from zero.
DOGE’s BBTrend is currently at -21.7, down from -26.1 yesterday, indicating that selling pressure is beginning to lessen even if the downtrend is still present. BBTrend’s continuous rising trend may be a sign that the negative momentum is abating, which might result in consolidation or a relief rally.
However, the overall trend is still bearish as long as the BBTrend is negative, which means that until there is a larger shift in momentum, the DOGE price may find it difficult to gain much traction to the upside.
DOGE price prediction: Will DOGE surge and break the $0.36 resistance this time?
Short-term EMAs are placed beneath long-term ones in Dogecoin’s EMA lines, which suggest a negative outlook. This alignment implies that the present downward trend is still strong, and DOGE may challenge the $0.20 mark if the bearish momentum persists.
The price of Dogecoin might drop even lower to $0.14, its lowest level since December 10, 2024, if it breaks below this support.
Also read: DOGECOIN PRICE PREDICTION 2025 – 2030
However, DOGE may try to retake $0.30 as resistance if the trend turns around. A retest of $0.36, a crucial level that DOGE was unable to reach at the end of January, may result from a successful breakthrough above this level.
The price of DOGE may increase by up to $0.40, or 54%, if bullish momentum continues to gain steam. However, the general trend stays negative until the EMAs change to a more bullish pattern.
