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Q: How is #Canada ’s largest globally systemically important bank investing in bitcoin?
A: Royal Bank of Canada grew its bitcoin exchange-traded product (ETP) position from 35,000 to 1.47 million shares, a 4,104 percent increase, while dollar exposure increased to $102 million, representing an increase of 4,363 percent. Additionally, RBC increased its Strategy (MSTR) share position by 561 percent, taking dollar exposure to $504 million, making it one of the largest Canadian bank bitcoin proxy positions.

Q: Beyond exchange-traded funds #etf 's, how are Canadian institutions engaging with other digital assets?
A: The Canada Pension Plan Investment Board (CPPIB) added 393,322 shares of Strategy (MSTR) valued at $127 million. This marks a milestone as the first major Canadian pension fund to gain bitcoin exposure indirectly through MSTR.

Q: What are notable third-quarter #2025 developments?
A: Harvard University's endowment expanded its iShares Bitcoin Trust position sharply in Q3 2025, rising from 1.91 million shares to 6.81 million — a 258 percent increase, representing $443 million.
Combined United Arab Emirates sovereign exposure hit $1.08 billion. This is the fourth-largest global holder after U.S. institutions. Al Warda Investment RSC Ltd. significantly expanded its iShares Bitcoin Trust by 230 percent to 7.96 million shares, totaling $518 million. Mubadala Investment Corporation added a new position valued at $567 million.
Looking ahead, expected rate cuts and maturing ETP infrastructure mark the definitive transition of bitcoin from speculative asset to institutional reserve component. The combination of regulatory clarity, sovereign fund deployment, and endowment participation sets up a foundation for sustained institutional adoption.
Sources: SEC filings, Nasdaq, FactSet.

Source: Binance News / Bitdegree / #CoinDesk / Coinmarketcap / Cointelegraph / Decrypt

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Stablecoin rankings are overwhelmingly dollar-based. USDT, USDC and other USD tokens dominate supply and usage, with dollars representing around 99% of a $300+ billion market. #euro stablecoins, at roughly $600 million, appear insignificant, especially at a time when Europe’s public debate focuses more on CBDC than on privately issued euro stablecoins.

However, today’s numbers can be misleading. #Stablecoins already settle real economic activity at scale. In 2024, they processed roughly $28 trillion, surpassing Visa and Mastercard combined. This signals the emergence of a parallel settlement rail that already functions at a systemic scale.

The problem for #Europe is that almost all of this activity settles in dollars rather than euros. Euro stablecoins aren’t small because the euro leg is unnecessary. They’re small because Europe hasn’t connected its currency to infrastructure that is already operating, but the shift to tokenized finance is irreversible.

Traditional payment rails still rely on cut-off times and reconciliation cycles measured in days. Around this ageing stack, a new one is forming in which assets and payments settle directly on-chain. Stablecoins are becoming an essential core infrastructure of financial services. Standard Chartered projects $30 trillion in tokenized real-world assets by 2034; Citigroup predicts up to $5 trillion in tokenized digital securities by 2030, with tokenized assets potentially reaching 10% of global GDP. None of this works without on-chain fiat, the world’s second-largest currency is too important not to play a part. The eurozone is a $16 trillion economy and the world’s second-largest currency bloc.

Suppose we accept two simple facts: 1. the euro is not going to disappear, and 2. Europe is not going to dollarize, so then a globally significant euro stablecoin is a logical outcome. The underlying euro economy is enormous. In 2023, the Eurosystem’s T2 platform processed roughly €2.2 trillion per day. According to the Bank for International Settlements (BIS), average global FX turnover reached $9.6 trillion per day in April 2025, with the USD on one side of about 89% of all trades; the euro ranked as the second most-active currency globally. If even 0.1% of euro flows move on-chain, that implies €2.2 billion settling daily, or more than €800 billion per year. This is more than enough to support a euro stablecoin ecosystem worth hundreds of billions.

For policymakers and investors, the real question is not whether euro stablecoins win outright, but what mix of on-chain euro options best balances innovation and financial stability.

#dollar stablecoins had a decade head start. Europe is now catching up. The next major expansion in stablecoins is not another USD token but rather a credible, scalable euro stablecoin, built for the size of Europe’s economy and privately issued.

Source: Binance News / Bitdegree / #CoinDesk / Coinmarketcap / Cointelegraph / Decrypt

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Bitcoin is hovering around $91,300 after falling more than 2.2% in 24 hours, a better performance than the wider crypto market’s 3.2% drop as measured by the CoinDesk 20 (CD20) index.

The backdrop is messy. A record-long U.S. government shutdown has delayed key labor reports, though there are plenty of layoff announcements filling headlines as firms increasingly turn to AI to cut costs. The Fed’s preferred inflation gauge, personal consumption expenditure (PCE), due later today, is only now catching up with older data.

Still, institutional signals lean supportive. Just this week, Vanguard opened crypto ETF access, Bank of America greenlit wealth advisers to recommend allocations of as much as 4% of portfolios to digital assets and Charles Schwab said it plans to offer bitcoin and ether trading in early 2026.

Add to that the Federal Reserve is expected to cut interest rates this month, a move that's likely to support risk assets.

Taking a longer perspective, bitcoin rose as high as $94,000 this week and is still in the green after dropping as low as $80,600 in November.

“The crypto markets have staged a sharp rebound after a 35% drawdown, right in line with the major shakeouts we've seen throughout this bull cycle,” Lewis Harland, a portfolio manager at Re7 Capital, told CoinDesk.

“Bitcoin’s move back into the $92–93k region highlights strong dip-buying interest, and we’re now in the kind of consolidation zone that typically precedes a resumption of bullish momentum.”

That resumption may be elusive for now, with traders moving to stablecoins and hunting yield rather than holding spot tokens, according to Syndicate co-founder Will Papper.

“At the same time, this is also a sign of market maturity: A switch into yield strategies is a switch into long-term thinking,” Papper told CoinDesk. “Yield strategies open crypto up to a larger part of portfolios than risk assets alone.”

“The reduction in leverage after October is a sign that either the users or the market will force more long-term mindsets,” Papper concluded. Stay alert!

Source: Binance News / Bitdegree / #CoinDesk / Coinmarketcap / Cointelegraph / Decrypt

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Move over crypto-USD pairs. As bitcoin (BTC) and the broader market consolidate on recent gains, this may be the ideal time to focus on cross pairs, especially the ether-bitcoin (ETH/BTC) ratio.

Ether (ETH) has gained more than 4% over the past 24 hours, approaching $3,200, while bitcoin (BTC) remains little changed above $93,000. The CoinDesk 20 and CoinDesk 80 indices have risen about 1%.

Ether's momentum has lifted the ETH/BTC ratio by 4%, cementing the bullish technical breakout above the descending trendline from August highs. The pattern, discussed in the technical analysis section, indicates an impending ether bull run against BTC.

This outlook is reinforced by positive fundamental developments, including the #Fusaka upgrade rolled out on Wednesday. The upgrade enhances Ethereum’s scalability by increasing blob capacity and introducing a more efficient data-availability system via PeerDAS.

The change "boosts Ethereum’s Layer-1 execution capacity through EIP-7935, which raises the protocol’s default gas limit to 60M," CoinMetrics said. "This directly increases the number of transactions that can fit in a block, allowing for higher throughput, less congestion and cheaper gas fees."

It's no surprise that analysts like BRN's Timothy Misir are calling the upgrade a tailwind for ether.

"Network growth touched 190,000 new addresses in a single day, indicating genuine organic expansion post-Fusaka," Misir said in an email, noting the renewed aggressive ETH accumulation by wallets holding 1,000-10,000 ETH.

In other bullish #news , spot ether ETFs listed in the U.S. pulled in $140 million in investors' funds on Wednesday. XRP funds pulled in $50 million while BTC and SOL ETFs registered outflows.

PayPal's stablecoin, #PYUSD , has become the sixth-largest stablecoin, growing by over 36% in the past month.

In traditional #market 's, debate raged over the potential impact of rising Japanese government bond yields on risk assets. Dutch investment bank ING flagged potential for a rally in the U.S. 10-year Treasury yield. Stay alert!​

Source: Binance News / Bitdegree / #CoinDesk / Coinmarketcap / Cointelegraph / Decrypt

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The sentiment reset in the crypto market continues, with bitcoin (BTC) gaining 1.6% since midnight UTC to trade above $93,000 alongside signs of a bear-trap in ether (ETH), whose price feigned a breakdown below the lower boundary of a descending channel before staging a bounce.

The action reflects revved up interest in the broader market, leading to several #altcoins such as SUI, PUMP, ENA, LINK, PUMP and AAVE posting double-digit gains in the past 24 hours.​ The bullish mood is evident from the 6%-7% advances in the CoinDesk 20 (CD20) and CoinDesk 80 (CD80) indexes in the same period.

Still, it's a nervous upswing because of uncertainty over leadership at the #Fed

"For now, crypto remains stable, but it is the uneasy kind of stable that waits for clarity," QCP Capital's market insights team noted.​ "With macro catalysts muted and Fed leadership uncertainty building, digital assets are effectively in pause mode until policymakers deliver the next decisive signal."

Speaking of the Fed, prediction markets currently favor Kevin Hassett, as potential new Fed chairman, which if it materializes, will shift the FOMC panel more dovish. Hassett is widely seen as the most pro-rate cut candidate currently in the running to be the next central bank chief.

A 25 basis-point interest-rate cut is baked in for next week, with investment banks calling a couple more for next year.​

However, both Treasury yields and the dollar aren't budging amid signs of fiat liquidity stress. All this only adds to the uneasy feeling described by #QCP .​

Market confidence is expected to grow once bitcoin tops $100,000, according to #fxpro 's chief market analyst, Alex Kuptsikevich.

"The $98K-100K range contains three psychologically significant levels: the 50-day average, early November support, and 61.8% of the decline from the peak," Kuptsikevich noted.​ "Consolidation above this level could convince buyers that crypto winter has not arrived."

In traditional markets, gold seems to be struggling despite the recent bullish breakout, a type of price action usually seen before price corrections. A potential pullback could revive hopes for rotation of funds into BTC. Stay alert!​

Source: Binance News / Bitdegree / #CoinDesk / Coinmarketcap / Cointelegraph / Decrypt

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The #crypto market mood remains somber, with bearish analyst projections circulating amid price weakness. Bitcoin’s (BTC) bounce from Monday's dip below $84,000 stalled near $87,000, while major altcoins including XRP, ETH, SOL and DOGE continue to press near their Monday lows.

The CoinDesk 20 and CoinDesk 80 Indices have added less than 1% in the past 24 hours.

“This is a dangerous lull following downward momentum, with the risk of reverting to a sell-off at any moment," said Alex Kuptsikevich, the chief market analyst at FXPro, who noted that the market cap is just below $3 trillion. "All attention is now focused on whether the bulls in the crypto market will be able to defend the late November lows near $2.83 trillion,” he said in an email to CoinDesk.

One bright spot: The #etf dumping has paused. The 11 U.S.-listed spot ETFs saw inflows of $8.48 million on Monday, extending a three-day streak, according to SoSoValue. However, the combined four-day figure of $229 million is still a far cry from the billions in outflows since early October and will need to grow significantly to lift valuations.

Meanwhile, some observers called for reassessment of panic over prospects of higher interest rates in Japan and their destabilizing impact on cryptocurrencies and the wider financial market.

“If the #Japan 'ese government allows interest costs as a percentage of GDP to rise, widening the budget deficit while potential GDP growth is near zero, it will be forced to give up on the welfare state," Blokland Smart Multi-Asset Fund founder Jeroen Blokland said on X. "In a society that is among the oldest in the world. That just isn’t going to happen. Yield Curve Control will become part of the Bank of Japan’s monetary policy again.”

In other key news, KAS, the native token of the layer-1, proof-of-work #Kaspa blockchain, which employs the blockDAG structure and GHOSTDAG protocol to achieve high throughput, showed weakness.

The token rose 8% last month, bucking the broader market weakness, as investors cheered verified programmability (vProgs), which brings native, lightweight programmability directly on Kaspa’s layer 1 without compromising speed, security or decentralization.

In traditional markets, Treasury yields remain elevated, putting a floor under the dollar index. Stay alert!

Source: Binance News / Bitdegree / #CoinDesk / Coinmarketcap / Cointelegraph / Decrypt

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