$XRP Bitcoin and Ether fall after the debut of DOGE and XRP ETFs in the U.S.
— The U.S. Securities and Exchange Commission (SEC) has approved the first exchange-traded funds (ETFs) for Dogecoin (DOGE) and XRP. However, despite this opening a new door for cryptocurrencies, the market reaction has been disappointing.
Unlike in the past, when positive news drove prices up, both DOGE and XRP have fallen more than 2% in the last 24 hours. This bearish sentiment has spread across the market, with Bitcoin (BTC) and Ether (ETH) also under pressure.
An analyst noted that approving an ETF for an asset like Dogecoin, seen as a "memecoin," demonstrates a significant shift in the SEC's regulatory stance.
🔸Other news of the day
- MetaMask: There are rumors that a token for the popular cryptocurrency wallet could arrive soon, according to the CEO of Consensys.
- Ethereum Update: The "Fusaka" update is scheduled for December 3rd. It is expected to improve data availability and reduce costs for layer 2 solutions.
- Traditional markets: The dollar and U.S. Treasury bond yields are rising, which could be affecting cryptocurrencies.
