FnF News

Khadija Khan

🇺🇸 FNF News | Markets & Crypto
Published: June 18, 2025
By: Khadija Khan

Bitcoin Breaches $105,000 as Institutional Momentum Accelerates; SEC Stalls on XRP, Solana ETF Decisions

Wall Street is going crypto again.

Bitcoin ($BTC) blasted through the $105,000 mark this week, its highest point since the asset’s inception, fueled by a new wave of institutional adoption and a delayed U.S. Securities and Exchange Commission (SEC) decision on two major altcoin ETFs—XRP and Solana.

The price surge marks a historic milestone for digital assets, reinforcing growing sentiment that crypto is not just a speculative asset class but a permanent fixture of modern finance.

The Bitcoin Surge: Who’s Behind the Boom?

According to data from Glassnode and Arkham Intelligence, over $4.2 billion in institutional inflows poured into Bitcoin-related products in just the last 10 trading days, largely driven by allocations from hedge funds, sovereign wealth funds, and retirement portfolios.

Asset management giants like BlackRock and Fidelity expanded their Bitcoin exposure through spot ETFs approved earlier this year. The Franklin Templeton Bitcoin Trust alone now holds over 41,000 BTC as of June 17.

“Bitcoin is now being seen as a macro hedge, not just a risk-on play,” said Mati Greenspan, founder of Quantum Economics. “With inflation sticky and geopolitical risk high, it’s finding a new purpose in capital preservation.”

SEC Delays XRP and Solana Spot ETFs

However, while Bitcoin continues to shine, the regulatory landscape remains murky for altcoins.

The SEC announced Monday that it would delay decisions on the proposed Franklin Templeton Spot XRP ETF and VanEck’s Solana ETF, citing “procedural extensions” and “insufficient public input.”

This comes amid ongoing debates about whether these tokens should be classified as securities. SEC Chair Gary Gensler reiterated his stance last week: “Each token has unique properties. We must evaluate them individually to determine compliance with U.S. securities laws.”

Ripple’s legal team responded with frustration, noting that “the delay harms investor access and transparency.” Solana Labs has not issued a formal statement but insiders confirm they expect approval delays could stretch into late Q4 2025.

Kraken’s INK Chain Enters the Arena

While the spotlight remains on Bitcoin and ETF decisions, a major development is unfolding behind the scenes: Kraken-backed Layer-2 platform Ink L2 announced it will launch its native token, INK, this week.

Designed as a fast, low-cost, Ethereum-compatible scaling solution, Ink L2 aims to rival Coinbase’s Base Network by offering:

• Zero gas fees for core dApps
• High-speed zk-rollup architecture
• A unique staking-reward hybrid model

INK will be used for transaction validation, governance, and liquidity rewards. A public sale is expected to launch via the Kraken Launchpad on June 22, with 150 million tokens allocated to early adopters and developers.

“INK is about democratizing DeFi infrastructure,” said Kraken CTO Vishal Gupta. “We want it to be the go-to chain for builders who are frustrated with Ethereum congestion and centralization risks on Base.”

Market Impact and What’s Next

Bitcoin’s breakout above $105,000 has triggered bullish sentiment across the entire market. Ethereum climbed above $6,300, while Solana and XRP saw 14% and 11% gains respectively—even as their ETFs hang in limbo.

Still, analysts warn of potential corrections.

“We’re clearly in a hype cycle right now,” said Rachel Lin, CEO of SynFutures. “Once the ETF decisions come through—positive or negative—you’ll see real price discovery.”

Retail sentiment is also surging. Coinbase reported its highest traffic volume since 2021. Robinhood Crypto’s user growth spiked 26% in the last week alone.

Conclusion: Crypto’s Institutional Era Has Arrived

With Bitcoin surging, altcoin ETFs in the pipeline, and new infrastructure like INK L2 emerging, 2025 is shaping up to be the year crypto fully enters the financial mainstream.

But questions remain: Will the SEC finally embrace innovation—or continue to stall? Can new networks like INK shake up the Ethereum monopoly? And will Bitcoin’s role in geopolitics change as it increasingly becomes a store of value?

FNF News will continue to monitor the story as it unfolds.