What’s Moving In Crypto Today? May 2025

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What’s Moving In Crypto Today? May 2025

 

 
XRP Spot ETF Approval Odds Surge to 85%
Bloomberg analysts have raised the odds of an XRP spot ETF approval to 85%, citing institutional demand and easing regulatory friction. A final SEC decision is expected by July 2, and interest is growing across altcoins following Bitcoin and Ethereum ETF momentum.

Trump’s Crypto Influence Expands with $2B Binance Deal
U.S. President Donald Trump's crypto ties just deepened. Backed by his family, World Liberty Financial has launched the USD1 stablecoin. It’s already been tapped for a $2 billion investment by MGX into Binance, signaling a bold step into global digital finance.

Strategy Ups BTC Stack as U.S. Takes Lead Among Nations
Bitcoin giant Strategy now holds 553,000 BTC (worth $37.9B), raising its end of 2025 profit target to $ 15 B. Meanwhile, a new executive order, signed by Trump, has created a Strategic Bitcoin Reserve, making the U.S. government the largest known government holder with 200,000 BTC.

Global Crypto Developments
- Despite growing public support, Switzerland's central bank resists calls to add Bitcoin to national reserves.
- The UK is overhauling crypto rules, aligning more closely with U.S. standards to support growth and safety.
- Despite a $1.4 billion loan agreement with the IMF that includes provisions limiting Bitcoin-related activities, El Salvador persists in its daily acquisitions.

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Spot Bitcoin ETFs See 3rd Straight Week of Inflows
Spot Bitcoin ETFs saw $425.5M in net inflows on May 5, marking their third straight week of gains. BlackRock’s IBIT led with the addition of 5,613 BTC, valued at approximately $530 million. Over the week, U.S. ETFs accumulated 18,644 BTC, nearly six times the weekly mining output. Fidelity’s FBTC and Grayscale’s GBTC saw outflows of $57.8M and $ 16.4 M. Bitcoin’s market dominance is now close to 64%.

Tether Mints $8B and Teases “Gas-Free” Feature
Tether has just minted $8 billion in USDT, including $1 billion on Tron today, pushing its total supply to an all-time high of $ 149 billion. Tron is now neck-and-neck with Ethereum in USDT circulation. A new “gas-free” transaction feature is on the way, eliminating TRX fees completely. Meanwhile, Celo now allows you to pay fees in USDT, becoming one of the first Layer-1s to implement the stablecoin natively.

Ripple Beats SEC as XRP ETF Speculation Grows
With Ripple's four-year legal battle with the SEC having concluded in March, speculation about a potential XRP ETF in 2025 is intensifying. In Q1, XRP saw $37.7M in institutional inflows, while Ripple itself unlocked another 1 billion XRP from escrow, prompting concerns about oversupply. Meanwhile, its new RLUSD stablecoin expanded with its 15th exchange listing and a $25M donation to public education.

Global Crypto Developments
The U.S. Senate has stalled multiple major cryptocurrency bills due to ethics concerns and political tensions tied to Donald Trump, thereby delaying regulatory progress.
- The EU has announced a 2027 deadline to ban anonymous and privacy-focused cryptocurrencies as part of new anti-money laundering regulations.
- Kenya’s High Court has ordered Worldcoin to cease all biometric data collection and to delete previously gathered information, citing regulatory violations.

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Bitcoin Passes $100,000 Amid US-UK. Trade Deal
On May 8, Bitcoin surged past $100,000 for the first time since February. This rally was fueled by optimism surrounding a new U.S.-U.K. trade agreement announced by President Donald Trump and Prime Minister Keir Starmer, which eased global trade tensions and boosted investor confidence.

Stablecoin Bill Stalls in Senate
The bipartisan GENIUS Act, aimed at regulating stablecoins, failed an initial procedural vote due to insufficient review time and bipartisan concerns. Senate Minority Whip John Thune is working to bring it back for another vote.

Ethereum Pectra Upgrade Fuels 20% Price Surge
Ethereum successfully implemented the Pectra upgrade on May 7, its most substantial overhaul since the 2022 Merge. Following the upgrade and positive market developments, Ethereum's price surged over 20% in 24 hours, surpassing $2,200. This rally was supported by increased institutional interest and a 15% rise in ETH wallet activity.

Global Crypto Developments
- German authorities seized €34 million ($38 million) in cryptocurrencies from eXch, a platform allegedly used to launder funds from the $1.4 billion Bybit hack.
- Arizona passed House Bill 2749, allowing the state to retain unclaimed digital assets, including cryptocurrencies, in a newly established Bitcoin and Digital Assets Reserve Fund.

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Pectra Wallet Exploit Exposes Off-Chain Signature Flaw
Ethereum’s recent Pectra upgrade has inadvertently opened a security loophole. While the change was intended to enhance smart wallets, it has also created a vulnerability that allows attackers to drain funds if they obtain a user's off-chain signature. Developers are now working on a fix. To stay safe, users should avoid signing any messages they don’t fully understand.

BlackRock Talks Crypto ETFs with SEC
BlackRock recently met with the SEC’s Crypto Task Force to discuss crypto ETFs, staking, and tokenization. The meeting focused on enabling staking within ETFs, tokenizing traditional assets, and setting regulatory standards for crypto products. This comes as BlackRock and Fidelity collectively added over $4.5B in BTC and ETH holdings.

Goldman Sachs Doubles Down on Bitcoin ETF Exposure
In Q1 2025, Goldman Sachs increased its holdings in BlackRock's Bitcoin ETF by 28%, now reporting 30.8 million shares valued at $1.4 billion. This move positions Goldman as the largest institutional holder of IBIT.

Global Crypto Developments
- The U.S. and China have both slashed tariffs for 90 days, potentially boosting crypto trade flows.
- El Salvador adds seven more BTC, bringing reserves past $635M despite IMF pushback.

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JPMorgan Breaks New Ground on Blockchain
JPMorgan has completed its first real-world asset transaction on a public blockchain, using the Ethereum-based Polygon network. The pilot involved the exchange of tokenized shares and cash in real-time. Although still in its early stages, this move suggests that large institutions are testing how blockchain can streamline settlements and reduce operational costs.

Solana ETF Still on Hold
The U.S. SEC has pushed back its decision on the proposed SOL spot ETF, requesting further public comment and input. The delay mirrors the cautious approach regulators have taken with non-Bitcoin crypto ETFs. This means that those watching Solana’s ETF progress will have to wait longer for clarity, as the SEC continues to evaluate how to handle broader exposure to alternative cryptocurrencies.

SEC Faces Setback in Ripple Case
A U.S. judge has denied a joint SEC-Ripple motion seeking to reduce Ripple’s $125M penalty and lift a standing injunction. The court stated that the request failed to meet the stringent legal standards required to modify a final judgment. The ruling keeps Ripple bound by its 2024 penalty for unregistered XRP sales. Ripple states that the issue was procedural and that both parties plan to revisit the matter with the court.

Global Crypto Developments
- Ukraine is drafting plans to create a national Bitcoin reserve to diversify and strengthen its financial infrastructure amid ongoing geopolitical instability.
- U.S. President Donald Trump plans to sign crypto-focused legislation by August, according to advisor Bo Hines.
Dubai is enabling crypto payments for government services, such as permits and utilities, aiming to position itself as a leader in blockchain adoption at the city level.

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Senate Clears First Hurdle for U.S. Stablecoin Law
The GENIUS Act sailed through a 66-32 closure vote on Monday night, positioning the country’s first comprehensive stablecoin framework for final passage. The bill would force issuers to hold 1-to-1 fiat reserves and comply with AML rules, a historic step toward federal clarity for dollar-pegged tokens.

SEC Stalls Solana ETFs Again
On May 19, the U.S. Securities and Exchange Commission issued formal “Orders Instituting Proceedings” on the 21Shares Core Solana ETF and Bitwise Solana ETF rule-change requests. The orders open a 21-day public-comment period plus 14 days for rebuttals, pushing the agency’s next decision window to mid-August.

JPMorgan Opens the Door to Direct Bitcoin Buys
Following last week’s successful pilot that settled tokenized equities and cash on Polygon, JPMorgan has taken a dramatically sharper step into crypto finance, announcing that it will allow private-bank clients to purchase spot Bitcoin through partnered custodians—a swift shift from experimental proof-of-concept to a mainstream offering in the space of a week.

Global Crypto Developments
- Russia’s central bank has drafted regulations that would effectively ban domestic Tether trading, targeting tokens issued by entities from countries it deems 'unfriendly' and removing them from local exchanges.
- The Emirates’ VARA watchdog has overhauled its rulebooks, cutting margin-trading leverage, sharpening collateral rules, and giving exchanges 30 days to comply.
Ripple Payments has gone live in the UAE with digital bank Zand and fintech Mamo, offering near-instant, multi-currency transfers that blend fiat, stablecoins, and cryptocurrencies.

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Bitcoin Price and Buyer Activity Both Hit New Highs
While Bitcoin notched a new all-time high, on-chain data from Glassnode shows its Accumulation Trend Score has surged to 1.0, the maximum value, for the first time since January, indicating widespread buying across the board. The move suggests increasing conviction from both large and small holders that higher prices could lie ahead.

Major U.S. Banks Mull a Shared Dollar Stablecoin
According to a Reuters report, JPMorgan, Bank of America, Citi, and Wells Fargo are in early talks on a consortium-backed USD stablecoin that other banks could join. The move would hinge on the upcoming U.S. stablecoin law and could reshape how dollars move in traditional banking, opening up easier onboarding for new crypto clients.

BlackRock Bitcoin ETF Sees Biggest Inflow in Weeks
BlackRock’s iShares Bitcoin Trust saw over $530 million in inflows on May 21, the highest single-day total in two weeks. Total daily trading volume surged past $1.3 billion, levels not seen since January. This suggests renewed demand for institutional-grade BTC exposure as Bitcoin moved into price discovery territory.

First U.S. XRP Futures ETF Launches on Nasdaq
Volatility Shares has listed the first XRP-linked ETF in the U.S., exposing traders to XRP futures through a fund trading under the ticker XRPI. The launch adds another derivative-based crypto product to Nasdaq’s growing roster and arrives just as regulatory scrutiny around XRP continues to evolve.

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Trump Media Crypto Rumors Misfire
News broke that Trump Media & Technology Group was raising $3B to buy Bitcoin, but the SEC filing doesn’t back that up. While digital assets are mentioned as part of the firm’s potential strategy, there’s no direct plan to acquire BTC. Still, the buzz reflects growing political ties to crypto and how even vague mentions can stir market sentiment.

XRP Futures ETF Marks Milestone
Volatility Shares’ XRPI, the first U.S.-listed XRP futures ETF, just wrapped up its first whole trading week. Volume stayed steady with tight spreads, and analysts are calling it a “proof-of-concept” for alt-derivatives ETFs. While small compared to BTC or ETH products, the successful debut may pave the way for more altcoin-linked ETFs, such as those linked to SOL or LINK.

SEC Delays ETH ETF Upgrades
The SEC kicked the can down the road on key Ethereum spot ETF tweaks, delaying rulings on staking and in-kind redemptions until early June. These features could make ETH ETFs more efficient and yield-generating, but regulators haven’t made up their minds. If approved, analysts say ETFs could gain a serious edge in performance and structure.

Global Crypto Developments
- The Dubai Land Department unveiled a government-backed platform to tokenize property deeds on the XRP Ledger, targeting a $16 billion market by 2033.
- The South African High Court has clarified that crypto assets are not subject to exchange controls, a move seen as opening the door to broader use of digital assets in cross-border trade.
- Major U.S. banks confirmed early-stage talks on a consortium-backed dollar stablecoin, timed to the Senate’s pending GENIUS Act.

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