The 24 hours on December 12, 2025, saw a significant movement in the crypto ETF market. Regulatory authorities opened the door, capital started to flow in again, and a series of news combined to boost market sentiment.

First, let's talk about the XRP situation. The Cboe BZX Exchange approved the listing application for 21Shares' XRP spot ETF, just waiting for the final approval from the SEC—expected to be finalized tonight or tomorrow. Institutional funds might at least pour in $1 billion. Once the news broke, XRP's price surged to $2.02, but quickly fell back by 3%. However, continuous inflows for 11 days in a row have pushed its assets close to $1 billion.

The Bitcoin ETF also shows promising signs. Net inflow reached $54.79 million, with BlackRock’s IBIT fund attracting capital contrary to the broader market, holding off the outflow of $60 million from Grayscale’s GBTC. The Ethereum ETF was even more impressive, with a single-day net inflow of $35.49 million yesterday, reversing a week of outflows, bringing total assets to $12.91 billion.

There’s also a relatively new product: Nicholas Bitcoin and Treasuries AfterDark ETF. Designed for night owl traders, it operates via Bitcoin futures and options after US stock market close, enabling 24/7 trading. This move could bring traditional finance and the crypto world even closer, with analysts saying that nighttime liquidity will be boosted.

In the index fund sector, Franklin’s EZPZ announced expansion, adding Dogecoin, Stellar, and others—covering everything from Bitcoin and Ethereum to altcoins—with assets soaring to $560 million. Bitwise’s BITW completed its transition from a trust to an ETF on December 9, managing $1.25 billion.

On the macro front, the Federal Reserve’s interest rate cut expectations are stirring market nerves. Bitcoin is holding around $90,000, and the CFTC has launched a pilot program allowing BTC and ETH to be used as collateral for derivatives, providing some reassurance from regulators. However, experts warn that year-end deleveraging could trigger short-term corrections. Last week, the Vanguard multi-cryptocurrency ETF launch continued to ferment, and Bitcoin rebounded 11%.

Overall, institutional participation is accelerating. By 2026, the ETF route might truly become a key battlefield for crypto assets. Nevertheless, investors should stay vigilant on macro fluctuations, keep an eye on on-chain capital movements, and monitor changes in SEC attitudes.