SEC custody proposal lifts institutional outlook as Bitcoin holds below $85,000

Shiba Inu, one of the largest meme coins in the crypto space, has gone live on Solana through Sunrise, giving Solana market access to the Ethereum token's canonical form. The move brings SHIB onto the Solana network via the Sunrise integration. The listing provides Solana market participants with access to the canonical form of the Ethereum-based token.

The U.S. Securities and Exchange Commission on Friday approved a Cboe BZX rule change allowing the exchange to list six triple-leveraged exchange-traded products from Volatility Shares, a first-of-its-kind step that could expand leveraged exposure to the world's largest cryptocurrency. The products target three times the daily performance of bitcoin, ether, gold, silver, crude oil and natural gas, with the bitcoin and ether products providing leveraged exposure through futures rather than directly holding the cryptocurrencies. The decision does not mean the products are immediately available for trading, as registration requirements must still be completed before shares can be publicly offered. Bitcoin traded at $84,860.5 as of 01:29 ET, little changed over the past 24 hours, after briefly climbing above $87,000 earlier in the week. The approval adds another potential route for investors seeking cryptocurrency exposure after the SEC separately proposed changes to crypto custody rules this week, a proposal that was a major focus for Bitcoin markets on Friday.