Bitwise Asset Management’s latest research suggests Bitcoin’s ‘fair value’ could be around $230,000, more than double its current price, due to rising sovereign default risks and its role as a macro hedge. The report highlights bullish indicators, including strong institutional inflows, positive on-chain data, and resilient derivatives positioning. Despite potential short-term volatility, structural factors like declining US policy uncertainty and growing institutional adoption support long-term upside. Bitcoin’s proximity to its all-time high near $112,000 further reinforces optimism, with Bitwise arguing its intrinsic value lies ‘considerably further north.’
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CryptoMarket Report 
October 29, 2025 | 14:19
October 29, 2025 | 14:19
CryptoMarket Report October 29, 2025 | 06:33
October 29, 2025 | 06:33
Bitwise Asset Management
0 in Finance and 2 in Crypto last week
TRON DAO Shines at Bitcoin Vegas 2025 as Top Sponsor
TRON DAO played a pivotal role at Bitcoin 2025 in Las Vegas, serving as a top-tier sponsor for key events like Code + Country’s VIP Reception and Kraken’s Oceanic Night Party. Justin Sun, TRON’s founder, participated in high-profile panels discussing blockchain’s role in reshaping traditional finance and Bitcoin DeFi opportunities. The event highlighted TRON’s dominance in the stablecoin market, with over $77.7 billion in USDT circulating supply, reinforcing its position as a global blockchain leader. The network also boasts 309 million user accounts and $23.5 billion in total value locked (TVL), underscoring its rapid growth and influence in the crypto space.
read moreKrugman Slams Stablecoins as Useless, Sparks Crypto Debate
In a scathing critique, economist Paul Krugman argues stablecoins serve no legitimate economic purpose beyond facilitating criminal activity, comparing them to unstable 19th-century private bank notes. He warns that stablecoin adoption risks creating modern ‘shadow banks’ that could trigger financial instability, particularly criticizing the GENIUS Act as being influenced by vested interests. Crypto industry figures like Nic Carter have strongly rebutted these claims, pointing to stablecoins’ widespread adoption and utility for millions of users worldwide. The debate highlights growing tensions between traditional economists and crypto advocates as regulatory frameworks for digital assets develop.
read moreSEC Delays Decision on Solana ETFs, Seeks More Time
The U.S. Securities and Exchange Commission (SEC) has delayed its decision on multiple spot Solana ETF applications from firms like 21Shares, Bitwise, VanEck, and Canary Capital. The regulator stated it requires additional time to evaluate legal and policy implications, though the delay does not indicate a likely approval or rejection. This comes amid a surge in ETF proposals for various digital assets, including meme coins and NFTs, following the U.S. election. While the new administration has hinted at pro-crypto regulatory shifts, experts caution that bureaucratic processes may slow approvals. Bitwise’s Juan Leon notes that despite market optimism, regulatory timelines often exceed expectations, though he anticipates more crypto products entering the market in the coming years.
read moreBitcoin Eyes $200K by Year-End Amid ETF and Institutional Demand
Bitcoin traded around $104,400 after briefly touching $105,000, with investors remaining optimistic despite short-term pullbacks. Bitwise CIO Matt Hougan forecasts Bitcoin could reach $200,000 by December, citing institutional demand, ETF inflows, and fixed supply as major catalysts. While macroeconomic uncertainty has tempered recent gains, Hougan highlights growing adoption by corporations like MicroStrategy and potential government acquisitions as bullish signals. Analysts from Bernstein and Intuit Trading also project $200K, though with varying timelines. However, risks such as Fed policy shifts or regulatory changes could disrupt momentum.
read moreBitwise Files for NEAR ETF Amid SEC Delays
Bitwise Asset Management has taken a significant step toward launching a NEAR ETF by filing an S-1 registration with the SEC. The proposed ETF seeks to track the NEAR token, the native cryptocurrency of the NEAR Protocol, with Coinbase Custody serving as the custodian. Despite Bitwise’s push, the SEC’s cautious approach continues to delay approvals for crypto ETFs, including those linked to altcoins like Dogecoin and Solana. While leadership changes at the SEC initially sparked optimism, the agency has yet to approve any major crypto ETFs beyond Bitcoin and Ethereum. NEAR’s price saw a modest 2% increase following the news, maintaining its position as the 33rd-largest cryptocurrency by market cap.
read moreNEAR Enhances Chain Signatures with EdDSA for Cross-Chain
NEAR Protocol has expanded its Chain Signatures technology to support EdDSA, allowing users to interact with Ed25519-based blockchains such as Solana, TON, Stellar, Sui, and Aptos using just a NEAR account. This eliminates the need for multiple wallets or private keys. Alongside this, NEAR is rolling out Nearcore version 2.6.0, which introduces ‘OptimisticBlock’ to reduce latency and improve AI application performance. The protocol is also focusing on user data control in AI interactions, emphasizing decentralization. Institutional interest is evident with Bitwise Asset Management’s NEAR-focused ETF filing. NEAR’s price has risen slightly, pushing its market cap over $3 billion.
read moreSEC Delays Franklin Templeton XRP ETF Decision to 2025
The U.S. Securities and Exchange Commission (SEC) has delayed its decision on Franklin Templeton’s spot XRP ETF, pushing the final deadline to June 17, 2025. The $1.5 trillion asset manager filed for the ETF in March, aiming to track XRP’s performance while holding tokens via Coinbase Custody. The SEC also extended reviews for Bitwise’s Dogecoin ETF and other XRP ETF proposals from firms like VanEck and Grayscale, signaling cautious regulatory scrutiny. Meanwhile, ProShares adjusted its XRP futures ETF launch to May 14, and CME Group plans XRP futures for May 19. XRP’s price dipped to $2.23 amid declining trading volume, though some analysts foresee a $3 target with institutional adoption.
read moreNasdaq Files for 21Shares DOGE ETF as SEC Delays Bitwise
Nasdaq has submitted a 19b-4 filing with the SEC to list the 21Shares Spot Dogecoin ETF, partnering with the Dogecoin Foundation for institutional backing. The ETF would track Dogecoin’s price via the CF Dogecoin-Dollar Index, with Coinbase Custody as custodian. However, the SEC has postponed Bitwise’s similar DOGE ETF application to June 2025, alongside delays for Ethereum, XRP, and Hedera ETFs. Dogecoin’s price hovers at $0.174 amid declining trading volume, with technical resistance at $0.18 potentially sparking a rally if broken. Analysts suggest regulatory clarity may take until late 2025.
read moreBitwise Registers NEAR Protocol ETF in Delaware
Bitwise Asset Management has taken a major step toward launching a NEAR Protocol ETF by registering ‘Bitwise NEAR ETF’ as a Delaware statutory trust. While the ETF isn’t yet tradable, this move indicates Bitwise’s growing commitment to crypto expansion. The firm has also diversified its strategies, introducing covered call ETFs for crypto stocks, launching crypto ETPs in London, and publishing an XRP investment guide predicting a $29 price target by 2030. NEAR’s price rose 6.71% in 24 hours following the news, reflecting market optimism. Bitwise’s Q1 2025 report also highlighted record stablecoin growth ($218B) and a 37% quarterly increase in tokenized real-world assets, underscoring institutional interest in digital assets.
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