- Two new spot ETFs focused on Dogecoin and XRP will launch on NYSE Arca on November 24.
- The crypto market has faced significant declines, with the CoinDesk 20 Index falling 23% since early November.
- Bitcoin ETFs in the U.S. have seen net outflows of $3.55 billion in November amid market weakness.
- Several crypto governance votes, token unlocks, and other blockchain-related events are scheduled through the end of November.
- Upcoming macroeconomic data releases and corporate earnings reports may influence market activity.
Grayscale’s Dogecoin Trust ETF (GDOG) and XRP Trust ETF (GXRP) are set to debut later on Monday, November 24, on NYSE Arca. These launches occur as the underlying tokens approach their worst monthly performance since February, along with a broader crypto market downturn. The CoinDesk 20 Index (CD20), which tracks major cryptocurrencies, has declined 23% since the start of November.
Spot bitcoin ETFs in the United States have experienced net outflows totaling approximately $3.55 billion this month. If these outflows continue, they could surpass the record $3.56 billion net outflow seen in February.
Bitcoin miner CleanSpark (CLSK) is scheduled to report fiscal fourth-quarter earnings on Tuesday. Meanwhile, competitors like Riot Platforms (RIOT) recently reported unexpected profits and record revenues. Iren (IREN) also posted record profit and revenue, highlighting its expansion into Artificial Intelligence.
Several notable crypto and blockchain events are upcoming:
- Monad’s public mainnet will launch November 24, introducing its native token MON, according to their announcement.
- Digital asset treasury firm KR1 Plc will begin trading on the London Stock Exchange’s main market on November 25 under the ticker 0A9X.
- The first satellite constellation operating the Spacecoin (SPACE) protocol, CTC-1, is scheduled for launch from Vandenberg Space Force Base on November 26 as shown on their update.
Governance votes are in progress for multiple decentralized autonomous organizations (DAOs). These include proposals on debt remediation, treasury management, voting process adjustments, and incentives, with voting deadlines ranging between November 24 and November 30. For details, see Moonwell DAO’s proposal, ZKsync DAO’s voting info, Aave DAO’s funding update, and other DAO governance links as referenced.
Several token unlock events are planned between November 24 and November 30. These are sizable releases from circulating supplies valued in millions of U.S. dollars, such as Plasma (XPL) unlocking 4.74% worth $17.8 million and HYPE unlocking 2.68% worth nearly $319 million.
Macro-economic indicators relevant this week include Mexico’s retail sales data, the U.S. Producer Price Index (PPI) and retail sales figures, durable goods orders, and jobless claims reports. Brazil and Mexico will release unemployment rates, while Canada reports Q3 GDP growth at the week’s end.
These combined developments signal ongoing active engagement in crypto markets and broader economic factors influencing investor behavior in late November.
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