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Daily News: Ripple confirms no IPO plans at this time, Flare unlocks XRP spot trading on the Hyperliquid platform, and more updates.
On Tuesday, US spot Bitcoin ETF funds outflowed $243 million, reversing the previous two days of $1.2 billion in inflows. Ripple confirmed that it remains focused on private placements and stated that after completing a $500 million financing at a $40 billion valuation, market liquidity is strong. Flare launched FXRP on the Hyperliquid platform, a 1:1 wrapped XRP, marking the first time spot XRP trading has been achieved through Omnichain fungible tokens. Following the deployment of Base, JPMorgan Chase expanded JPM Coin to the Canton network for institutional settlement. Morgan Stanley, hours after submitting proposals for Bitcoin and Solana ETFs, also filed an application for a spot Ethereum ETF and plans to offer staking rewards. Matt Hougan, Chief Investment Officer at Bitwise, said whether cryptocurrencies will see a rally in 2026 depends on stock market stability, avoiding major market crashes, and US legislation supporting cryptocurrencies, such as the Clarity Act.