Bitcoin (BTC) briefly fell below $89,000 on Wednesday after failing to hold the $93,500 level, triggering over $144 million in liquidations from leveraged long positions. Despite this sharp correction, the Bitcoin futures market remained unusually stable, suggesting that traders are not capitulating and may even anticipate a near-term recovery.
The monthly futures premium — which measures the gap between futures and spot prices — stayed close to 4%, only slightly below the 5% level typically viewed as neutral. This resilience implies that institutional traders have not turned overly bearish. In contrast, a negative premium would indicate excessive short positioning.
In the perpetual futures market, the funding rate hovered around 4% annualized, consistent with the two-week average. Normally, funding above 6% reflects bullish sentiment, while negative rates show strong bearishness. The current reading suggests mild caution but no signs of panic among traders.
Meanwhile, options data paints a similar picture. The BTC options delta skew remained around 11%, showing that traders have not drastically adjusted risk exposure. Put options continue to trade at a modest premium over call options — a sign of defensive positioning, but still far from crisis levels.
One factor weighing on sentiment has been five consecutive days of outflows from spot Bitcoin ETFs, totaling $2.26 billion. This represents less than 2% of total ETF holdings but has added consistent sell pressure as market makers unwind exposure.
Broader macroeconomic headwinds also play a role. Several major U.S. tech firms — including Oracle, Ubiquiti, Oklo, and Roblox — have lost 19% or more over the past month amid a broader “risk-off” shift and weakness in the U.S. job market. The recent U.S. government shutdown and disappointing retail earnings from Target have further dampened investor confidence. Persistent inflation limits the Federal Reserve’s ability to cut rates, constraining liquidity for risk assets like Bitcoin.
Despite these challenges, analysts note that Bitcoin’s derivative markets are holding firm, signaling that the correction may be more of a consolidation phase than the start of a deeper downturn. A rebound toward $95,000 likely depends on an improvement in macroeconomic conditions and renewed risk appetite among investors.
Source: Cointelegraph
BlackRock prepares staked Ethereum ETF as new iShares Trust registration emerges
BlackRock has taken a significant step toward launching a Staked Ethereum ETF, following the discovery of a new Delaware statutory trust registration on November 19, 2025. The filing lists the newly formed entity as the “iShares Staked Ethereum Trust ETF,” strongly suggesting that an official submission to the U.S. Securities and Exchange Commission (SEC) is coming soon. The registration was first noticed by ETF analyst Eric Balchunas, who pointed out that BlackRock Advisors LLC is listed through registered agent Daniel Schwieger, confirming the asset manager’s direct involvement.
This development aligns with BlackRock’s broader expansion into digital asset investment products. The firm already operates two of the market’s most influential crypto ETFs: the iShares Bitcoin ETF and the iShares Ethereum ETF. The new product would be BlackRock’s first fund tied specifically to staked ETH, offering investors access to staking rewards without the need to run their own validator nodes or manage the technical complexities of Ethereum staking. Interest in yield-generating digital assets has surged in recent years, especially among institutional investors seeking regulated exposure to staking-based income streams.
The Delaware registration is typically one of the final procedural steps before a company files a formal SEC application. Once BlackRock submits the official filing, the Staked Ethereum ETF will enter the regulatory review process. The timeline for approval can vary — ranging from several months to longer — depending on market conditions, political factors, and the overall complexity of the product. Still, given the strong track record of BlackRock’s previous crypto ETF approvals, market participants view the chances of eventual approval as meaningful.
By creating the iShares Staked Ethereum Trust ETF entity, BlackRock signals a clear intention to expand its crypto ETF lineup and move deeper into staking-focused products. This marks a potential new frontier for regulated digital asset investment vehicles, where yield-bearing cryptocurrencies play a more prominent role in institutional portfolio strategies. Although the official SEC filing has not yet been made public, the registration serves as a strong indicator that staking-based ETFs may soon become the next major growth segment within the broader digital asset investment landscape.
Source: Ethnews.com
Ark Invest buys $40M in crypto stocks amid BTC drop
Ark Invest, the investment firm led by Cathie Wood, increased its exposure to crypto-related equities on Wednesday by purchasing nearly $40 million worth of shares across three companies. The move came as the broader cryptocurrency market experienced a sharp downturn, with Bitcoin falling to lows near $89,000, triggering a decline in the valuations of several crypto-linked stocks.
According to a disclosure sent via email, Ark Invest acquired 463,598 shares of Bullish (BLSH) — the crypto exchange that also owns CoinDesk — valued at $16.9 million at the close of trading. In addition, the firm purchased 216,019 shares of Circle Internet Group (CRCL), the company behind the USDC stablecoin, for approximately $15.1 million. Rounding out the buying spree, Ark added 260,651 shares of Bitmine Immersion Technologies (BMNR), a company specializing in Ethereum treasury and immersion cooling infrastructure, worth $7.6 million.
These acquisitions collectively total $39.6 million, signaling Ark Invest’s strategic decision to “buy the dip” across a trio of companies that saw their stock prices decline alongside the crypto market. On Wednesday, CRCL and BMNR both dropped around 9%, while BLSH declined 3.63%. The broader market also weakened, with the CoinDesk 20 Index (CD20) falling 3.22%.
Ark Invest maintains exposure to such crypto-focused equities across three of its prominent exchange-traded funds: ARK Innovation (ARKK), ARK Next Generation Internet (ARKW), and ARK Fintech Innovation (ARKF). These ETFs are known for their concentration in high-growth, disruptive technology sectors, including blockchain, fintech, AI, and digital asset infrastructure.
The firm is also known for its active management style, frequently increasing holdings when it believes market prices have become overly depressed. This approach allows Ark to accumulate shares of companies it views as long-term winners at temporarily reduced valuations. In other cases, Ark makes such purchases to maintain its ETF allocations within targeted percentage ranges as part of a systematic rebalancing strategy.
Despite the recent volatility, Ark Invest’s latest buying activity underscores its continued conviction in the growth potential of crypto and crypto-adjacent companies, even as short-term sentiment in digital assets weakens.
Source: Coindesk