{"id":18313,"date":"2025-06-04T17:54:35","date_gmt":"2025-06-04T17:54:35","guid":{"rendered":"https:\/\/businesstriumphs.com\/index.php\/2025\/06\/04\/crypto-market-recap-truth-social-moves-to-launch-spot-bitcoin-etf-reserve-act-near\/"},"modified":"2025-06-04T17:54:35","modified_gmt":"2025-06-04T17:54:35","slug":"crypto-market-recap-truth-social-moves-to-launch-spot-bitcoin-etf-reserve-act-near","status":"publish","type":"post","link":"https:\/\/businesstriumphs.com\/index.php\/2025\/06\/04\/crypto-market-recap-truth-social-moves-to-launch-spot-bitcoin-etf-reserve-act-near\/","title":{"rendered":"Crypto Market Recap: Truth Social Moves to Launch Spot Bitcoin ETF, Reserve Act Near?"},"content":{"rendered":"<\/p>\n

Here\u2019s a quick recap of the crypto landscape for Wednesday (June 4) as of 9:00 a.m. UTC.<\/strong><\/p>\n

Get the latest insights on Bitcoin, Ethereum and altcoins, along with a round-up of key cryptocurrency market news.<\/p>\n

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Bitcoin and Ethereum price update <\/h3>\n

Bitcoin (BTC) <\/strong>was priced at US$105,057, as markets opened, down 0.3 percent in 24 hours. The day\u2019s range for the cryptocurrency brought a low of US$105,099 and a high of US$106,807. <\/p>\n<\/div>\n

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Bitcoin price performance, June 4, 2025<\/em><\/p>\n

<\/small><\/p>\n

Chart via TradingView<\/p>\n

<\/strong>Despite the price dip, institutional interest remains strong. Heath care technology provider Semler Scientific (NASDAQ:SMLR) recently acquired 185 BTC for US$20 million, bringing its total holdings to 4,449 BTC (US$500 million), underscoring continued confidence in Bitcoin\u2019s long-term value.<\/p>\n

Market analysts are closely monitoring key resistance levels, with some anticipating a potential breakout that could influence broader cryptocurrency market dynamics in the days ahead.<\/p>\n

Ethereum (ETH)<\/strong> finished the trading day at US$2,606.37, a 0.8 percent increase over the past 24 hours. The cryptocurrency reached an intraday low of US$2,592.85 and saw a daily high of US$2,645.67.<\/p>\n<\/div>\n

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Altcoin price update <\/h3>\n

Solana (SOL)<\/strong> closed at US$158.90, down 3.2 percent over 24 hours. SOL experienced a low of US$154.80 in the final minutes of trading and reached a high of US$162.57.<\/p>\n

XRP<\/strong> is trading at US$2.20, reflecting a 1.4 percent increase over 24 hours. The cryptocurrency reached a daily low of US$2.21 and a high of US$2.28. <\/p>\n

<\/span>Sui (SUI)<\/strong> peaked at US$3.31, showing a decrease<\/em>of 3.7 percent over the past 24 hours. Its lowest valuation on Monday was US$3.19, and its highest was US$3.33. <\/p>\n

<\/span>Cardano (ADA)<\/strong> is trading at US$0.6913, up 0.1 percent over the past 24 hours. Its lowest price of the day was US$0.6796, and it reached a high of US$0.7003.<\/p>\n<\/div>\n

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Today\u2019s crypto news to know <\/h3>\n

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Trump-Linked Truth Social Takes Aim at Spot Bitcoin ETF Market <\/h4>\n

Interest in crypto-linked investment products continues to grow, with NYSE Arcafiling a proposal to list a spot Bitcoin exchange-traded fund (ETF) tied to Donald Trump\u2019s media platform, Truth Social.<\/p>\n

Submitted on behalf of Yorkville America Digital, the proposed \u2018Truth Social Bitcoin ETF\u2019 would enter an increasingly competitive field of spot Bitcoin ETFs. If approved, it would be custodied by Foris DAX, the same provider used by Crypto.com.<\/p>\n

While the 19b-4 filing marks a key regulatory milestone, the ETF must still undergo US Securities and Exchange Commission (SEC) review of its S-1 registration statement before it can move forward.<\/p>\n

JD Vance reveals Bitcoin Reserve Act is on the way <\/h4>\n

At the Bitcoin 2025 conference, Frax Finance founder Sam Kazemian disclosed his private conversation with Vice President JD Vance, who revealed the administration\u2019s sweeping crypto roadmap. <\/p>\n

According to Kazemian, Vance confirmed that stablecoin legislation is only the starting point, with a broader market structure bill and a Bitcoin Reserve Act also in the pipeline. <\/p>\n

This reserve act would codify Bitcoin as a long-term federal asset, mirroring how some countries hold gold. Vance emphasized bipartisan support and framed crypto as central to economic innovation. <\/p>\n

Kazemian also noted that Frax USD, his stablecoin project, may be designated legal tender under the upcoming legislation.<\/p>\n<\/p>\n

Trump-Linked Truth Social Takes Aim at Spot Bitcoin ETF Market <\/h4>\n

Interest in crypto-linked investment products continues to grow, with NYSE Arcafiling a proposal to list a spot Bitcoin exchange-traded fund (ETF) tied to Donald Trump\u2019s media platform, Truth Social.<\/p>\n

Submitted on behalf of Yorkville America Digital, the proposed \u2018Truth Social Bitcoin ETF\u2019 would enter an increasingly competitive field of spot Bitcoin ETFs. If approved, it would be custodied by Foris DAX, the same provider used by Crypto.com.<\/p>\n

While the 19b-4 filing marks a key regulatory milestone, the ETF must still undergo US Securities and Exchange Commission (SEC) review of its S-1 registration statement before it can move forward.<\/p>\n<\/p>\n

GENIUS Act nears Senate vote amid sharp partisan divide<\/h4>\n

The bipartisan GENIUS Act, aimed at regulating stablecoins, could reach the Senate floor by the end of the week, according to journalist Eleanor Terrett.<\/p>\n

Passed out of committee with a strong 66-32 vote in May, the bill still faces turbulence due to over 60 proposed amendments. <\/p>\n

Much of the friction stems from concerns over conflicts of interest tied to Trump\u2019s crypto engagements, including his backing of the USD1 stablecoin. <\/p>\n

Lawmakers are now scrambling to trim the amendment list to a \u201cmanageable\u201d level that both parties can agree on. <\/p>\n

If consensus is reached, the Senate could vote within days \u2014 but failure to compromise may delay the bill into next week. The bill\u2019s progress is closely watched by the US$248 billion stablecoin industry.<\/p>\n

<\/h4>\n

Trump-Linked crypto firm drops mini \u2018stimulus check\u2019 to wallets<\/h4>\n

World Liberty Financial, a Trump-family-backed crypto firm, sent US$47 worth of its USD1 stablecoin to every wallet involved in its WLFI token sale, effectively issuing a small-scale \u201cstimulus check.\u201d <\/p>\n

The drop is being viewed as a marketing maneuver tied to growing momentum around the token, which is pegged to the US dollar and integrated with Chainlink\u2019s CCIP for multichain expansion. <\/p>\n

Though the amount is modest, it helped spur conversation on social media and drew attention to USD1\u2019s role in major deals, including a US$2 billion investment into Binance by MGX. <\/p>\n

World Liberty Financial currently boasts a US$200 million market cap for USD1 and is gearing up to release its own crypto wallet.<\/p>\n<\/div>\n

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.<\/strong><\/strong><\/p>\n

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.<\/strong><\/strong><\/strong><\/p>\n<\/p>\n

This post appeared first on investingnews.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Here\u2019s a quick recap of the crypto landscape for Wednesday (June 4) as of 9:00 a.m. UTC. Get the latest insights on Bitcoin, Ethereum and altcoins, along with a round-up of key cryptocurrency market news. Bitcoin and Ethereum price update Bitcoin (BTC) was priced at US$105,057, as markets opened, down 0.3 percent in 24 hours. […]<\/p>\n","protected":false},"author":0,"featured_media":18314,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-18313","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investing"],"_links":{"self":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/18313","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/comments?post=18313"}],"version-history":[{"count":0,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/18313\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media\/18314"}],"wp:attachment":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media?parent=18313"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/categories?post=18313"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/tags?post=18313"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}