Today's Cryptocurrency Highlights: Ark's $162 Million Investment in Solana, Expansion of XRP and DOGE ETFs, Ethereum's Fusaka Upgrade
In the ever-evolving world of cryptocurrencies, several significant events have taken place recently. Here's a summary of some of the key developments that have caught the attention of investors and analysts alike.
PayPal's ambition to establish PYUSD as a core DeFi and payments stablecoin is reflected in the substantial increase in its supply. From $520 million in 2021, PYUSD's supply has climbed to $1.3 billion in 2025, underscoring PayPal's commitment to the stablecoin.
On the Ethereum front, the much-anticipated Fusaka upgrade is scheduled to go live on December 3, 2025. This upgrade focuses on scalability and infrastructure improvements, with key highlights including blob capacity expansion, PeerDAS implementation, gas limit enhancements, and spam resistance & security upgrades.
The cryptocurrency ETF market has seen some exciting debuts. The REX-Osprey XRP ETF (XRPR) had a record-breaking trading volume of $37.7 million on its debut day, while the REX-Osprey Dogecoin ETF (DOJE) attracted $17 million in first-day trades, placing it among the top five ETF debuts of 2025.
Institutional appetite for Bitcoin and Ethereum remains strong. On September 18, Bitcoin was at $116,879 (-0.4%), and Ethereum was at $4,537 (-0.6%). Notable inflows in Bitcoin ETFs include Fidelity's FBTC with $97 million, while Ark & 21Shares ARKB and Bitwise BITB added $25 million and $12.7 million, respectively. Fidelity's FETH led with $159 million in inflows in Ethereum ETFs on the same day.
ARK Invest, led by Cathie Wood, has made some strategic moves in the crypto market. The company acquired a $162 million position in Solana treasury company Solmate, signalling confidence in Solana's ecosystem. Shares of Brera, rebranded as Solmate and listed on Nasdaq, skyrocketed from $7.40 to $24.90 after ARK Invest's purchase. ARK Invest distributed its 6.5 million share purchase across three of its ETFs: Innovation (ARKK), Next Generation Internet (ARKW), and Fintech Innovation (ARKF).
The Fed's latest rate cut has fuelled risk assets, including cryptocurrencies, according to analysts. This has led to a surge in the prices of various cryptocurrencies, including Solana.
Lastly, the SEC has introduced a streamlined approval process for crypto ETFs, reducing timelines to about 75 days. This could potentially lead to more crypto ETFs hitting the market in the near future.
These developments underscore the ongoing interest and investment in the cryptocurrency sector, with both traditional financial institutions and specialist investment firms showing increased engagement. As the sector continues to evolve, it will be interesting to see how these trends unfold in the coming months.
Read also:
- Trump and Xi speak over the phone, according to China's confirmation.
- Unlawful MMO gold peddler cultivates around half a million dollars in income, triggering a tax dispute, followed by developers unveiling strategies to clamp down on real-world transactions
- Prices of transit tickets in Berlin and Brandenburg are on the rise
- Linde Wins Major Engineering Design Contract for Equinor's Low Carbon Hydrogen Project at H2H Saltend, Progressing Towards a Greener Future
