JUST IN: CFTC Announces Withdrawal of ‘Outdated’ Crypto Guidance
The Commodity Futures Trading Commission (CFTC) has taken a significant step in reshaping U.S. oversight of digital assets, formally withdrawing guidance that previously dictated how “actual delivery” of virtual currencies should be handled. The agency says the move reflects rapid changes in crypto markets and the need for rules that match present-day realities. Shift Toward Modernized Oversight Acting Chairman Caroline D. Pham described the decision as part of a broader push within the Administration to remove regulations that no longer serve their purpose. According to Pham, outdated frameworks have at times weighed down companies working legally within the United States by creating ambiguity around what constitutes true possession of a digital asset. Under the 2020 guidance, crypto transactions involving margin, credit, or financing were subject to strict conditions. Buyers were required to gain full control of an asset—typically within 28 days—and sellers or intermediaries could not maintain any authority over it. While intended to protect customers, these standards often blurred key distinctions between spot market activity and derivatives trading. The CFTC now says that the rapid maturity of digital asset markets, including advances in custody, on-chain settlement, and institutional infrastructure, makes the older guidance too narrow and impractical. Aligning With Federal Priorities The withdrawal supports the recommendations of the President’s Working Group on Digital Asset Markets, which has pushed federal agencies to coordinate on consistent standards for crypto oversight. Pham emphasized that the CFTC’s action signals a willingness to remove barriers to innovation while still maintaining strong protections for U.S. consumers. The agency noted that it may introduce updated guidance or develop a set of FAQs to provide clearer expectations for both industry participants and retail users. In the meantime, the CFTC is urging the public and market stakeholders to participate in its ongoing “Crypto Sprint,” a program designed to gather feedback on regulatory gaps and emerging risks. What This Means for the Industry The decision is widely interpreted as a sign that regulators are preparing to revisit previously rigid interpretations of crypto delivery, custody, and trading practices. By removing a framework that many firms considered outdated, the CFTC is positioning itself to take a more adaptive approach—one that recognizes how digital asset markets have evolved in the last four years. While the withdrawal does not immediately introduce new rules, it opens the door for a refreshed framework that could better define how spot market transactions should function without unintentionally pushing compliant activity outside the United States. As federal agencies continue working toward clearer standards for digital assets, today’s move marks an early signal that more flexible, market-aligned policies may be on the way.
SharpLink Added 446 $ETH in Staking Rewards Last Week, Bringing Its Fully Staked Treasury to 8,776 ETH
SharpLink has reported another strong week of staking performance, confirming that its treasury earned 446 ETH in rewards over the past week. The company shared the update on the X platform, noting that its entire Ethereum position remains fully staked through institutional-grade infrastructure. Strong Weekly Rewards Push Total to 8,776 ETH Since introducing its staking strategy on June 2, 2025, SharpLink has continued to compound its holdings. With the latest addition, the company’s cumulative staking rewards have now reached 8,776 ETH, all tied to its treasury asset, ETH, under the ticker $SBET. SharpLink’s statement highlighted that its Ethereum remains 100% staked, reinforcing its commitment to a long-term, yield-focused approach. The firm’s consistent weekly returns suggest that its staking operations are running efficiently, capturing steady validator yields while keeping treasury funds active rather than idle. Why This Matters Treasury staking has become a common strategy for crypto-native companies aiming to increase asset value without reducing token holdings. By keeping its entire ETH position staked, SharpLink benefits from ongoing validator rewards, contributing to treasury growth even during market uncertainty. SharpLink’s continued transparency around its weekly performance also sets it apart in a market where many firms offer limited visibility into treasury activities. Regular updates help investors and tokenholders track how effectively the company is managing the $SBET underlying asset. Looking Ahead With its staking rewards climbing steadily since June, SharpLink appears committed to maintaining a fully staked treasury strategy. If weekly rewards continue at similar levels, the company could see its ETH holdings compound significantly over the coming months. For now, the latest milestone underscores strong operational consistency and reinforces SharpLink’s position as an Ethereum-focused treasury company actively growing its on-chain reserves.
21Shares Has Launched Its XRP ETF ($TOXR), Offering Regulated Exposure to XRP
21Shares, one of the world’s largest issuers of cryptocurrency exchange-traded products, has officially launched the 21Shares XRP ETF (ticker: TOXR) on the Cboe BZX Exchange. This marks a significant expansion of institutional-grade access to XRP, a digital asset widely used in cross-border payments. The new ETF gives investors a direct way to gain exposure to XRP using their existing banks or brokerage accounts. With a total expense ratio of 0.30%, TOXR tracks the performance of XRP by holding the asset directly, and it is valued daily using the CME CF XRP—Dollar Reference Rate—New York Variant. Although TOXR is fully backed by XRP, it is not registered under the Investment Company Act of 1940. This means it does not carry the same regulatory protections as traditional ’40 Act ETFs or mutual funds. Its disclosures emphasize that XRP is a high-risk, volatile asset and that investors should be prepared for the possibility of losing their entire investment. The ETF also does not represent a direct investment in Ripple or its associated technologies. A New Avenue for Institutional Exposure Russell Barlow, CEO of 21Shares, said the firm’s goal is to give U.S. investors practical access to leading cryptocurrencies: “21Shares is committed to providing U.S.-based investors with unparalleled access to the world’s leading cryptocurrencies, and this launch is another example of this effort.” He added that the company’s experience managing crypto-backed ETPs globally has helped shape TOXR into a product suited for U.S. market standards. The launch comes amid a surge in institutional interest in XRP. The digital asset is currently the fourth-largest cryptocurrency by market capitalization and has built a strong presence in international settlements due to its fast and low-cost transaction capabilities. XRP technology is already connected to payment systems in more than 55 countries, and over 100 financial institutions are utilizing or testing its infrastructure. Reinforced Security Through Multi-Custody To support operational resilience and security, 21Shares uses a multi-custody model for TOXR and its other U.S. spot ETPs. Custodians include Coinbase, Anchorage Digital Bank, and BitGo—all firms known for regulatory compliance and institutional-grade safeguarding of digital assets. Flow Traders serves as the lead market maker, ensuring liquidity and consistent pricing throughout trading hours. The firm’s participation helps make TOXR accessible to institutions that require reliable order execution and volume. Federico Brokate, Global Head of Business Development at 21Shares, noted rising demand from U.S. investors: “We are seeing increased demand from U.S.-based clients for diversified crypto exposure and expect adoption of cryptocurrencies to continue to rise… The launch of TOXR will play a meaningful role in satisfying the growing investor appetite for cryptocurrencies in the U.S. market.” XRP ETF Momentum Builds After SEC Clarity The debut of TOXR comes on the heels of a broader wave of XRP-linked investment products. The conclusion of the SEC vs. Ripple lawsuit and the introduction of the SEC’s generic listing standards paved the way for multiple issuers to roll out spot XRP ETFs and trusts. Other issuers in the recent lineup include: Additionally, multi-asset crypto index ETFs—such as Grayscale’s GDLC and Franklin’s EZPZ—have begun adding XRP allocations, a sign of growing recognition of XRP’s role in diversified crypto portfolios. Rising Enterprise and Global Payment Use Cases Beyond investment products, enterprise adoption of XRP continues to expand. Large institutions including Santander, Bank of America, and SBI Holdings have shown interest in technologies built around XRP and the XRP Ledger. The factsheet for TOXR also highlights progress surrounding Ripple USD (RLUSD)—a fully USD-backed stablecoin issued on the XRP Ledger and regulated by the New York Department of Financial Services. RLUSD surpassed $1 billion in circulation within its first year, adding another layer of utility to the network. 21Shares emphasized that XRP’s utility in global settlements, tokenization frameworks, and cross-border payment trials by governments strengthens its profile as a long-term digital asset for institutional portfolios. 21Shares Expands Its U.S. Footprint Since entering the U.S. market in 2022, 21Shares has accelerated its growth. As of November 2025, the company manages over $8 billion in assets and offers five ETPs in the United States. With TOXR now live, the firm continues to position itself as one of the most diversified, crypto-native issuers of regulated products worldwide. In a statement posted to social platform X, 21Shares said: “The 21Shares XRP ETF (TOXR) is now live, providing investors a liquid, transparent, and convenient way to gain exposure to XRP—a foundational asset in the future of global payments.” The announcement was widely shared among the XRP community, with excitement from both retail and institutional participants who have long advocated for more accessible ways to invest in the asset. What TOXR Means for the Market The launch of the 21Shares XRP ETF is expected to increase liquidity and expand XRP’s presence within traditional finance. By offering a regulated, exchange-listed product that holds XRP directly, 21Shares lowers the barrier for banks, asset managers, and retail investors who cannot custody crypto themselves. As institutions continue exploring digital assets and distributed payment networks, TOXR stands to become a key instrument linking traditional markets with blockchain-based finance.