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• Lido is integrating Chainlink’s interoperability standard to power wrapped Staked Ether (wstETH) transfers.
• The Chainlink cross-chain interoperability protocol (CCIP) is now the official cross-chain infrastructure for wstETH.
• wstETH will implement CCIP on supported chains in stages.

Lido, a leading liquid staking protocol on Ethereum, has announced a strategic partnership with Chainlink. 

The protocol has adopted the oracle network’s Cross-Chain Interoperability Protocol (CCIP) as the official infrastructure for securing all cross-chain transfers of the Lido wrapped staked Ether (wstETH) token. 

Integration comes after the Lido DAO community approved the partnership via snapshot voting. 

Key details of the Lido and Chainlink partnership

According to details, the partnership leverages the Cross-Chain Token (CCT) standard to power wstETH transfers. 

It means all future cross-chain operations for wstETH will route through CCIP, replacing native bridges and third-party providers. Chainlink plans to implement this integration progressively across Lido’s 16 supported chains, which include Arbitrum, Base and Linea.

As well as that, there are early deployments on emerging networks, including Plasma, Monad, Ink, and 0G. 

Key benefits and strategic impact

Adopting CCIP unlocks multiple advantages for wstETH holders and DeFi builders. 

CCIP builds on Chainlink’s proven decentralized oracle network that secures over $100 billion in DeFi total value locked.

For wstETH, CCT enables self-serve token deployments, complete DAO ownership of contracts, and programmable features. 

For instance, future-proof expansion supports permissionless onboarding to most top blockchains, while  layered defenses add to security.

Already, Lido’s previous Chainlink integrations, including Data Feeds, power stETH/wstETH adoption across protocols like Aave. 

Lido’s move expands on these features. 

Jakov Buratovic, Master of DeFi at Lido, commented on the integration.

“For stakers, the ability to move assets quickly across the ecosystem is essential for seizing opportunities, rebalancing liquidity, and managing their staked ETH efficiently. By adopting Chainlink CCIP as the official cross-chain standard for wstETH, we’re giving users and builders a standardized, secure way to move wstETH across chains,” Buratovic said.

This partnership positions Lido for greater competitiveness in evolving markets.

Johann Eid, chief business officer at Chainlink Labs, also holds a similar view.

“This integration is set to significantly expand access to wstETH across DeFi, with cross-chain flows secured by Chainlink’s defense-in-depth architecture.”

Lido DAO price outlook

Lido DAO (LDO), the governance token of the Lido liquid-staking protocol, has gained about 5% in the past 24 hours. 

The LDO token gives holders the chance to vote on key protocol decisions such as validator onboarding and protocol upgrades.

The token traded around $0.76, up on the day but still well in the red over the past week and month. However, the token has bounced more than 133% from the all-time lows of $0.3278 reached on October 11, 2025. 

If bulls show resilience amid DeFi resurgence, they could retest the $1 mark.

Bitcoin’s four-year cycle used to offer a simple script: halving rewards meant scarcity, and scarcity meant higher prices.

This pattern held for over a decade. Every four years, the network’s reward to miners was halved, thereby tightening the supply, followed by a speculative frenzy that resulted in a new all-time high.

However, as Bitcoin hovers just above $100,000 this week, down about 20% from its October peak of over $126,000, that old narrative is wearing thin.

Wintermute, one of the largest market makers in digital assets, has now said the quiet part aloud. “The halving-driven four-year cycle is no longer relevant,” it argued in a recent note. “What drives performance now is liquidity.” The statement may sound heretical to long-time Bitcoin believers, but the data leaves little room for debate.

The market is now dominated by ETFs, stablecoins, and institutional liquidity flows, with miner issuance appearing to be a rounding error.

Liquidity rewrites the four-year cycle rules

Bitcoin’s latest rally and retreat map neatly onto one metric: ETF inflows. In the week ending October 4, global crypto ETFs raised a record $5.95 billion, with U.S. funds accounting for the majority of the funds. Just two days later, daily net inflows hit $1.2 billion, the highest on record.

That flood of capital coincided almost perfectly with Bitcoin’s climb to its new all-time high near $126,000. When the inflows slowed later in the month, so did the market. By early November, with mixed ETF prints and light outflows, Bitcoin had slipped back toward the $100,000 line.

The parallel is striking but not coincidental. For years, the halving was the cleanest model investors had for Bitcoin’s supply and demand mechanics: every 210,000 blocks, the number of new coins awarded to miners halves.

Since April’s event, that figure sits at 3.125 BTC per block, or roughly 450 new coins per day, equivalent to around $45 million at current prices. That may sound like a large daily injection of supply, but it’s dwarfed by the sheer scale of institutional capital now coursing through ETFs and other financial products.

When just a handful of ETFs can absorb $1.2 billion of Bitcoin in one day, that inflow is twenty-five times the amount of new supply entering the market each day. Even routine weekly net flows often match or exceed the entire week’s worth of newly minted coins.

The halving didn’t stop mattering entirely, as it still wields an outsized influence on miner economics. But, in terms of market pricing, the math has changed significantly. The limiting factor isn’t how many new coins are produced, but how much capital is flowing through regulated channels.

Stablecoins add another layer to this new liquidity economy. The total supply of dollar-pegged tokens now hovers between $280 billion and $308 billion, depending on the data source, effectively functioning as base money for crypto markets.

A growing stablecoin float has historically tracked higher asset prices, providing fresh collateral for leveraged positions and instant liquidity for traders. If the halving constraints the faucet where new Bitcoins flow, stablecoins open the floodgates for demand.

A market ruled by flows

Kaiko Research’s October report captured the transformation in real time. Mid-month, a sudden wave of deleveraging erased more than $500 billion from the total market capitalization of crypto, as order-book depth evaporated and open interest reset to lower levels. The episode had all the hallmarks of a liquidity shock rather than a supply squeeze.

Bitcoin’s price didn’t fall because miners were dumping coins or because a new halving cycle was due. It fell because buyers disappeared, derivatives positions unwound, and the thinness of the order books amplified every sell order.

This is the world Wintermute describes: one governed by capital flows, not block rewards. The arrival of spot ETFs in the US and the broader expansion of institutional access have rewired Bitcoin’s price discovery. Flows from major funds now dictate trading sessions.

Price rallies now typically begin in US hours, when ETF activity is at its highest: a structural pattern that Kaiko has tracked since the products were launched. Liquidity in Europe and Asia still matters, but it now acts as a bridge between American sessions rather than a separate center of gravity.

This shift also explains the change in market volatility. During the earlier halving epochs, rallies tended to follow long, grinding accumulation phases, with retail enthusiasm layering on top of shrinking supply.

Now, the price can lurch several thousand dollars in a day, depending on whether ETF inflows or outflows dominate. The liquidity is institutional, but it’s also fickle, turning what used to be a predictable four-year rhythm into a market of short, sharp liquidity cycles.

That volatility is likely to persist. Futures funding and open interest data from CoinGlass indicate that leverage remains a significant swing factor, amplifying moves in both directions. When funding rates remain high for extended periods, it signals that traders are paying heavily to stay long, leaving the market vulnerable to a sharp reversal if the flows pause.

The October drawdown, which followed a surge in funding costs and a wave of ETF redemptions, offered a preview of how fragile the structure can be when liquidity dries up.

Yet even as those flows cooled, structural liquidity in the system continues to grow. Stablecoin issuance remains elevated. The FCA’s recent move to allow retail investors in the UK to access crypto exchange-traded notes has sparked a fee war among issuers, leading to increased turnover on the London Stock Exchange.

Each of these channels represents another conduit through which capital can reach Bitcoin, thereby tightening its correlation to global liquidity cycles and distancing it further from its self-contained halving cycles.

The Bitcoin market now behaves like any other large asset class, where monetary conditions drive performance. The halving calendar once dictated the tempo of investor psychology. Today, it is the Federal Reserve, ETF creation desks, and stablecoin issuers who set the beat.

In the next few months, Bitcoin’s trajectory will depend on liquidity variables. A base case sees Bitcoin oscillating between roughly $95,000 and $130,000 as ETF flows remain modestly positive and stablecoin supply continues its slow expansion.

A more bullish setup, with another record inflow week for ETFs or a regulatory green light for new listings, could send prices back toward $140,000 and above.

Conversely, a liquidity air pocket marked by multi-day ETF outflows and contracting stablecoin supply could pull Bitcoin back to the $90,000 zone as leverage resets again.

None of these outcomes depend on miner issuance or the distance from the halving. Instead, they depend on the rate at which capital enters or exits through the pipes that have replaced the halving as Bitcoin’s key throttle.

The implications reach beyond price. Kaiko’s data suggests ETFs have also changed the microstructure of the spot market itself, tightening spreads and deepening liquidity during US trading hours, but leaving off-hours thinner than before.

That shift means the health of Bitcoin’s market can now be gauged as much by ETF creation and redemption activity as by on-chain supply metrics. When miners’ daily output is absorbed by ETFs within minutes, it’s clear where the balance of power lies.

Bitcoin’s evolution into a liquidity-sensitive asset may disappoint those who once viewed the halving as a kind of cosmic event, a preordained countdown to riches. Yet, for an asset now held by institutions, benchmarked in ETFs, and traded against stablecoins that function as a private money supply, it’s simply a sign of maturity.

So perhaps the halving cycle isn’t dead, just demoted.

The block reward still decreases by half every four years, and some traders will always use it as a guide. But the true map now lies elsewhere. If the past decade taught investors to watch the halving clock, the next one will teach them to watch the flow tape.

The new calendar of Bitcoin isn’t four years long. It’s measured in billions of dollars moving in and out of ETFs, of stablecoins minted or redeemed, of capital searching for liquidity in a market that has outgrown its own mythology. The miners still keep time, but the tempo now belongs to the money.

• Ripple has raised $500 million in new funding round, at a $40 billion valuation.
• Strategic investment signals strong confidence in XRP and Ripple USD stablecoin.
• Momentum has seen Ripple close mega deals in 2025.

Ripple, the enterprise blockchain leader in cross-border payments, has secured a landmark $500 million strategic investment, with its valuation at $40 billion.

Led by global investment giants Fortress Investment Group and Citadel Securities, the raise signals investor confidence in Ripple and its expanding role in global finance.

Ripple raises $500 million funding round

On Wednesday, November 5, 2025, as the crypto market grappled with sell-off pressure, Ripple delivered one of the biggest news .

The company announced it had secured $500 million in fresh funding, with the financing round valuing it at $40 billion.

Apart from Fortress Investment Group and Citadel Securities, participation attracted Pantera Capital, Galaxy Digital, Brevan Howard, and Marshall Wace.

Overall, this is a funding move that marks one of the largest private financings in the blockchain sector this year.

The raise comes after Ripple’s recent $1 billion tender offer at the same valuation.

Meanwhile, it’s a move that caps what the firm and its leadership have described as the crypto industry giant’s strongest year on record.

Brad Garlinghouse, the chief executive officer of Ripple, described the funding as validation of Ripple’s long-term vision.

“This investment reflects both Ripple’s incredible momentum, and further validation of the market opportunity we’re aggressively pursuing by some of the most trusted financial institutions in the world,” he noted. “We started in 2012 with one use case – payments – and have expanded that success into custody, stablecoins, prime brokerage and corporate treasury, leveraging digital assets like XRP. Today, Ripple stands as the partner for institutions looking to access crypto and blockchain.”

Ripple will tap into the new capital to support key platfom initiatives.

These will include product development, global regulatory engagement, and expansion of Ripple’s liquidity solutions.

Also on card are the company’s stablecoin initiative and custody services.

Ripple continues mega growth trajectory

The capital injection arrives amid a banner stretch for Ripple.

Payment volumes on the XRP Ledger have surged, as has adoption for the firm’s regulated stablecoin, Ripple USD (RLUSD).

Indeed, RLUSD recently surged past a $1 billion market cap.

Elsewhere, Ripple Prime, the institutional brokerage arm born from the acquisition of Hidden Road, is live.

These are only a few of the many milestones in Ripple’s transformation from a remittance-focused startup to a full-stack financial-technology provider.

In the past few months, the company has closed multiple deals, including those valued at $1 billion.

October’s purchase of GTreasury came after the earlier acquisition of Rail as Ripple looked to fortify its stablecoin footprint.

The company has also expanded its US presence with a New York trust charter earlier this year, enabling regulated custody and payment services.

A new quantum countdown website projects a two– to three-year window for quantum computers to break widely used public key cryptography, placing Bitcoin within its scope.

Sites like The Quantum Doom Clock, operated by Postquant Labs and Hadamard Gate Inc., package aggressive assumptions about qubit scaling and error rates into a timeline that spans the late 2020s to early 2030s for a cryptographically relevant quantum computer.

This framing doubles as product marketing for post-quantum tooling, but you need to read the fine print to notice that disclosure.

According to the Quantum Doom Clock, recent resource estimates that compress logical-qubit counts, combined with optimistic hardware error trends, suggest that the required physical-qubit class for breaking ECC falls into the few-million range under favorable models.

The clock’s presets rely on exponential hardware growth and improving fidelity with scale, while runtime and error-correction overheads are treated as surmountable on a short fuse.

Government standards bodies are not treating a 2027 to 2031 break as a base case.

The U.S. National Security Agency’s CNSA 2.0 guidance recommends that National Security Systems should complete their transition to post-quantum algorithms by 2035, with staged milestones before then, a cadence echoed by the UK National Cyber Security Centre.

This requires identifying quantum-sensitive services by 2028, prioritizing high-priority migrations by 2031, and completing them by 2035.

The policy horizon serves as a practical risk compass for institutions that must plan capital budgets, vendor dependencies, and compliance programs, implying a multi-year migration arc rather than a two-year cliff.

Laboratory progress is real and relevant, yet it does not exhibit the combination of scale, coherence, logical gate quality, and T-gate factory throughput that Shor’s algorithm would require at Bitcoin-breaking parameters.

According to Caltech, a neutral-atom array with 6,100 qubits has reached 12.6-second coherence with high-fidelity transport, an engineering step toward fault tolerance rather than a demonstration of low-error logical gates at proper code distances.

Google’s Willow chip work highlights algorithmic and hardware advances on 105 qubits, claiming exponential error suppression with scale on specific tasks. Meanwhile, IBM has demonstrated a real-time error-correction control loop running on commodity AMD hardware, which is a step toward systems plumbing fault tolerance.

None of these set pieces removes the dominant overheads that prior resource studies identified for classical targets like RSA and ECC under surface code assumptions.

A widely cited 2021 analysis by Gidney and Ekerå estimated that factoring RSA-2048 in about eight hours would need roughly 20 million noisy physical qubits at around 10⁻³ physical error rates, underscoring how distillation factories and code distance drive totals more than raw device counts.

For Bitcoin, the earliest material vector is key exposure on-chain rather than harvest-now-decrypt-later attacks against SHA-256. According to Bitcoin Optech, outputs that already reveal public keys, such as legacy P2PK, reused P2PKH after spend, and some Taproot paths, would become targets once a cryptographically relevant machine exists.

At the same time, typical P2PKH remains protected by hashing until it is spent. Core contributors and researchers track multiple containment and upgrade paths, including Lamport or Winternitz one-time signatures, P2QRH address formats, and proposals to quarantine or force rotation of insecure UTXOs.

Proponents behind BIP-360 claim that more than 6 million BTC are held in quantum-exposed outputs across P2PK, reused SegWit, and Taproot, which is best understood as an upper bound from advocates rather than a consensus metric.

The economics of migration matter as much as the physics.

With NIST now finalizing FIPS-203 for key encapsulation and FIPS-204 for signatures, wallets and exchanges can implement the chosen family today.

According to NIST FIPS-204, ML-DSA-44 has a 1,312-byte public key and a 2,420-byte signature, which are orders of magnitude larger than those of secp256k1.

Under current block constraints, replacing a typical P2WPKH input witness with a post-quantum signature and public key would increase the per-input size from tens of virtual bytes to multiple kilobytes. This would compress throughput and push fees higher unless paired with aggregation, batch-verification-friendly constructs, or commit-reveal patterns that move bulk data off hot paths.

Institutions with many exposed-pubkey UTXOs have an economic incentive to de-expose and rotate methodically before a scramble concentrates demand into a single fee spike window.

The divergences between a marketing-aggressive clock and institutional roadmaps can be summarized as a set of input assumptions.

Recent papers that reduce logical-qubit counts for factoring and discrete log problems can make a few-million physical qubit target appear closer, but only under assumed physical error rates and code distances that remain beyond what labs demonstrate at scale.

The mainstream lab view reflects stepwise device scaling where adding qubits can erode quality, with a path toward 10⁻⁴ to 10⁻⁵ error rates as code distance grows.

A conservative read places material limits, control complexity, and T-factory throughput as rate limiters that extend timelines into the 2040s and beyond, absent breakthroughs.

The policy drumbeat to complete migrations by 2035 aligns more with the stepwise and conservative cases than with exponential hardware trajectories.

Case	Hardware and error path	Physical qubits for ECC-256*	Earliest window	Primary sources
Marketing-aggressive	Exponential qubit growth, ≤10⁻³ errors improving with scale	Few million	Late-2020s to early-2030s	Quantum Doom Clock
Mainstream lab	Stepwise scaling, error reduction with code distance	Many millions	Mid-2030s to 2040s	CNSA 2.0, UK NCSC
Conservative	Logistic growth, slower fidelity gains, factory bottlenecks	Tens of millions+	2040s to 2050s+	Quantum Doom Clock

*Totals depend on surface code distance, logical gate error targets, and T-gate distillation throughput. See Gidney and Ekerå (2021).

Forward-looking markers to watch are concrete.

1. Peer-reviewed demonstrations of long-lived logical gates, not only memory, at code distance around 25 with sub-10⁻⁶ logical error rates.
2. Practical T-gate distillation factories that deliver throughput for algorithms with 10⁶-plus logical qubits.
3. Bitcoin Improvement Proposals that advance post-quantum signature pathways from prototype to deployable standard, including formats that keep bulk artifacts off the hot path.
4. Public commitments by major exchanges and custodians to rotate exposed outputs, which would distribute fee pressure across time.

The Doom Clock’s utility is narrative, compressing uncertainty into urgency that funnels to a vendor solution.

The risk compass that matters for engineering and capital planning is anchored by NIST standards now finalized, government migration deadlines around 2035, and the lab milestones that would mark real inflection points for fault tolerance.

According to NIST’s FIPS-203 and FIPS-204, the tooling path is available today, which means wallets and services can start de-exposing keys and testing larger signatures without accepting a two-year doomsday premise.

Bitcoin’s hash-then-reveal design choices already delay exposure until spending time on common paths, and the network’s playbook includes multiple rotation and containment options when credible signals, not vendor clocks, indicate it’s time to proceed.

It is, however, worth remembering that when quantum computers make Bitcoin’s cryptography vulnerable, other legacy systems are also exposed. Banks, social media, finance apps, and much more will have backdoors left wide open.

Societal collapse is a bigger risk than losing some crypto if legacy systems are not updated.

For those who argue that Bitcoin upgrades will be slower than those of banks, etc., remember this, some ATMs and other banking infrastructure around the world still run on Windows XP.

Moon Inc. said its shares are now available to U.S. investors on the OTCQX Best Market as of Nov. 5, following an upgrade from the OTC Pink tier and a bell ringing at OTC Markets Group in New York.

The move opens a direct channel for U.S. retail and institutional investors to access the Hong Kong-listed issuer, which trades on the HKEX under code 1723 and has been pivoting from its roots in prepaid connectivity toward Bitcoin-focused consumer products.

The company framed the OTCQX graduation as part of a broader capital strategy that aligns with a Bitcoin standard and tighter U.S. market engagement.

Chief executive John Riggins said the higher disclosure bar and visibility are intended to create a cleaner pathway for U.S. investors to participate in Hong Kong’s regulated digital asset ecosystem and Moon’s expansion across Asia.

Moon Inc’s Bitcoin strategy

The company completed a legal name change from HK Asia Holdings to Moon Inc. earlier this year, a step that formalized the strategic pivot and preserved the 1723 stock code on HKEX, according to HKEXnews.

The U.S. trading venue upgrade follows Moon’s October financing of approximately HK$65.5 million, or roughly US$8.8 million, through a combination of new shares and convertible notes to fund a Bitcoin-enabled prepaid card and a Pan-Asian rollout, starting in Thailand and South Korea.

The raise was supported by a group that included Bitcoin miners. The product plan aims to integrate Bitcoin-native rails into the company’s legacy prepaid distribution network, positioning Moon to distribute BTC loads through the same cash-in channels used for SIMs and mobile top-ups, an approach examined in detail in our coverage of retail cash rails.

A yearlong restructuring set the stage for today’s U.S. access milestone.

UTXO Management and Sora Ventures took control of the former HK Asia Holdings in early 2025, and leadership positions were filled by figures associated with Bitcoin Magazine’s parent, moves that helped steer the rebrand and the company’s treasury and product direction.

Shares reacted positively during the spring as Moon launched a MicroStrategy 2.0” approach that blended measured balance-sheet Bitcoin exposure with product integration.

For U.S. investors, OTCQX access reduces friction in trading a Hong Kong issuer pursuing Bitcoin consumer rails. At the same time, the company continues to execute in Asia, where cash usage remains high across retail top-up ecosystems.

The model Moon is pursuing treats BTC like phone credit, a distribution angle that differs from exchange apps and targets segments that fund digitally through physical agents rather than banked channels.

The execution hinges on licensing, issuer partnerships, and agent activation in each market.

Regulators in Singapore enforced a June 30, 2025, deadline, prompting some overseas-facing operators to reassess their footprints. This development has concentrated attention on Hong Kong and Dubai for digital asset activity.

Hong Kong’s stance, including the listing of spot BTC and ETH ETFs, has broadened mainstream engagement with digital assets.

If Moon can convert a portion of its prepaid distribution into BTC loading points, the near-term revenue lens will be driven by active loaders, average ticket sizes, and blended take-rate across spreads, fees, and interchange.

The financing amount indicates a pilot phase involving country-by-country partners, with the first announced corridors being Thailand and South Korea.

While operating costs, compliance, and issuer fees will determine net economics, gross revenue sensitivity can be framed for 2026 exit rates using directional ranges tied to the company’s plan.

Scenario (2026 exit, monthly)	Active loaders	Avg load (US$)	Blended take-rate	Gross revenue / month	Gross revenue / year
Bear	75,000	40	1.0%	$30,000	$0.36 million
Base	250,000	70	1.5%	$262,500	$3.15 million
Bull	600,000	120	2.2%	$1.584 million	$19.0 million

These ranges depend on agent density, repeat load frequency, issuer and processor partnerships in each country, treasury policy, and volatility management. Wider BTC volatility can expand spreads but can also constrain conversion, and program-level costs for KYC, KYT, and customer support can pressure unit economics.

A listed vehicle’s disclosure cadence, including treasury sizing and card economics, will provide more clarity on run rates as the program scales. The company’s legacy as a prepaid operator is relevant to cash-in mechanics, which often drive micro-loads and small-ticket behavior in the early months of deployment.

Today’s step into OTCQX aims to broaden the shareholder base that can follow that deployment.

For U.S. market participants, the move enhances quotation quality and corporate disclosure access compared to Pink, while preserving the primary listing in Hong Kong and the short name. The company described the upgrade as part of an international growth strategy that includes regional product launches funded by the October capital raise and a focus on governance and transparency. The legal rebrand in June laid the groundwork for these actions.

Key milestones to watch include issuer and licensing announcements in Thailand and South Korea, activation counts across top-up agents, disclosure of monthly active loaders and average load sizes, and updates on balance-sheet Bitcoin policy and risk controls.

The U.S. over-the-counter venue shift is now in place, providing investors with a clearer view into a Hong Kong-based company pursuing Bitcoin rails through prepaid distribution.

Disclosure: Sora Ventures is an investor in CryptoSlate.

Key  takeaways

• Solana’s SOL is down 1% in the last 24 hours and is approaching $160 after dropping to $146 on Tuesday.
• The cryptocurrency could reclaim the $170 high if the recovery continues.

SOL recovers from the Tuesday dump

SOL, the native coin of the Solana ecosystem, is trading close to the $160 mark after recording massive losses on Tuesday. The coin dipped to the $146 mark on Tuesday, sweeping the low of August 4th before embarking on a recovery.

It has now added nearly 5% to its value over the last few hours and is now trading at $159 per coin. The positive performance comes as the broader cryptocurrency market recovers from the dump.

Bitcoin briefly dipped below $100k on Tuesday but has now recovered and is trading above $102k per coin. Ether is also trading above $3,300 after testing the $3k psychological level.

SOL could rally to $170 amid market recovery

The SOL/USD 4-hour chart is bearish and efficient as the cryptocurrency has underperformed in recent days. The technical indicators remain bearish but are showing signs of recovery. 

The 4-hour RSI of 32 means that SOL is currently in the oversold region. This could give it a breather and allow the coin to rally higher in the near term. The MACD lines are also within the bearish region, suggesting selling pressure.

If SOL continues its recovery, it could rally towards the first major resistance level at $170 over the next few hours. An extended bullish run would allow the cryptocurrency to target the swing high at $188.

However, if the bulls fail to defend SOL’s price above the $150 psychological level, the cryptocurrency could dip towards the June 27 low of $136. Currently, the trend is switching bullish, and buyers could regain control of the market. If the daily levels hold, SOL could rally higher over the coming hours and days.

• The STABLE ETP is physically backed and rebalanced quarterly via Coinbase Custody.
• Investors gain exposure to Ethereum, XRP, Solana, Chainlink, Stellar, and Aave.
• Launch aligns with Europe’s MiCA regulation and Nasdaq’s digital asset strategy.

A Swedish crypto asset manager has launched Europe’s first exchange-traded product (ETP) dedicated to the infrastructure supporting stablecoins, marking a turning point for regulated digital asset investing in the region.

On November 5, Virtune AB listed its Virtune Stablecoin Index ETP on Nasdaq Stockholm, Nasdaq Helsinki, and Deutsche Börse Xetra.

The launch gives investors an opportunity to access the networks driving stablecoin adoption without directly holding the tokens themselves.

The first stablecoin infrastructure ETP in Europe

Trading under the Bloomberg ticker STABLE, the product is designed to capture value from the blockchains and crypto assets that underpin the growing stablecoin ecosystem.

On Nasdaq Stockholm and Helsinki, it trades as STABLE and STABLEE, respectively, while the Xetra listing uses the symbol VRTN.

The ETP is available to both institutional and retail investors through major brokers and banks, including Avanza, Nordnet, SAVR, Scalable Capital, Smartbroker, and Finanzen Zero.

Virtune describes the product as “the first of its kind” in Europe.

Unlike conventional crypto funds that hold stablecoins such as USDC or Tether, the STABLE ETP provides exposure to the blockchains where stablecoins operate.

It is 100% physically backed by digital assets stored securely with Coinbase Custody and is rebalanced quarterly to reflect market shifts.

The ETP carries a 1.95% annual management fee and supports trading in SEK and EUR.

Capturing the growth of the $314.5 billion stablecoin market

The stablecoin sector has grown rapidly over the past year, with financial institutions adopting tokenised money to facilitate round-the-clock settlements and faster cross-border transfers.

According to CoinMarketCap data, the total stablecoin market value stands at about $314.5 billion.

Euro-backed stablecoins, while still small in comparison, have reached a market capitalisation of $609.37 million, as per CoinGecko, led by Circle’s EURC, Stasis Euro, and Societe Generale’s EUR CoinVertible.

This expansion has encouraged European banks to experiment with their own digital currencies.

In September, nine banks, including UniCredit, Banca Sella, DekaBank, and ING, announced plans to launch a MiCA-compliant euro-backed stablecoin.

Virtune’s STABLE ETP arrives amid this momentum, offering investors a regulated avenue to participate in the wider stablecoin ecosystem.

A bridge between traditional finance and digital assets

By focusing on blockchain infrastructure rather than the stablecoins themselves, Virtune’s ETP aims to diversify risk while capturing growth potential from multiple networks.

The index is weighted using the square root of market capitalisation, a method designed to prevent dominance by larger assets and to maintain balanced exposure across the ecosystem.

For investors, the STABLE ETP represents a gateway into crypto infrastructure via a regulated vehicle.

It eliminates the need to manage private keys or digital wallets while still providing participation in the networks driving stablecoin use in payments, banking, and commerce.

The ETP also aligns with Nasdaq’s broader strategy to expand its range of digital asset products within a transparent regulatory framework.

Helena Wedin, Head of ETF and ETP Services for European Markets at Nasdaq, said the exchange’s goal is to encourage innovation in a secure marketplace.

The listing of Virtune’s product, she noted, highlights the growing maturity of the ETP sector and its importance in linking traditional investors to blockchain-based opportunities.

What Virtune’s launch signals for Europe

The introduction of STABLE marks a significant milestone for European digital asset markets, which are now operating under the new MiCA regulation.

It underscores a shift from speculative crypto products toward infrastructure-focused investments that mirror the real-world utility of blockchain technology.

By packaging stablecoin infrastructure into a regulated exchange-traded product, Virtune has provided a blueprint for how digital assets can coexist with mainstream financial systems.

As more financial institutions explore tokenised money and on-chain settlements, products such as the Virtune Stablecoin Index ETP could serve as benchmarks for future innovation.

In a market driven by efficiency, transparency, and accessibility, Virtune’s launch demonstrates how Europe’s financial ecosystem is evolving to embrace the technology powering the next generation of digital finance.