Crypto
crypto
Yaël Bizouati-Kennedy

Tariffs sink crypto-adjacent stocks

Liberation Day is hitting crypto-adjacent companies pretty hard this morning, as traders abandon risk-on stocks. Less than 24 hours after the Trump administration announced its “reciprocal” tariffs on more than 180 countries and territories (including some with no people living there), a slew of these companies are in the red in early trading.

Platforms Robinhood and Coinbase are down 9% and 8%, respectively on market open. 

(Robinhood Markets Inc. is the parent company of Sherwood Media, an independently operated media company.)

Meanwhile, bitcoin miners are also suffering, with MARA Holdings, Riot Platforms, CleanSpark, and Hut 8 all down over 7%.

Bitcoin-holding company Strategy is also down almost 7%. Just after the Rose Garden announcement, bitcoin plunged from $88,000 to $82,000, where it has stabilized. The broader crypto market is comparatively faring better than crypto-adjacent stocks, but most assets are still down over 2% today.

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$1.2B
Yaël Bizouati-Kennedy

XRP ETFs have now crossed $1 billion in assets since the funds launched, according to SoSoValue, which shows total assets of $1.18 billion.

In September, the SEC approved generic listing standards, which paved the way for speedier listings and opened the floodgates for these products, and shortly after, Rex-Osprey launched the first spot XRP ETF available in the US.

Canary followed suit in November, launching an ETF trading on the Nasdaq under the ticker XRPC, which saw a record $58.5 million in trading volume on its first day. It’s the largest XRP ETF in the US, with $342 million in assets.

Grayscale, Bitwise, and Franklin Templeton also launched their own XRP ETFs in November. On December 11, 21Shares joined the XRP fund party.

It’s a noteworthy green shoot in the crypto space, as bitcoin and its ETFs have struggled, and XRP itself is down nearly 15% over the past month.

Jake Hanley, managing director and senior portfolio specialist at Teucrium Investment Advisors — which launched the first-ever XRP-based ETF in April, the 2x Long Daily XRP ETF — told Sherwood News that he is not surprised to see this level of interest in the XRP ETFs.

“We have long held that XRP and the Ripple ecosystem present a unique investment case among crypto assets. Crossing the $1 billion mark is yet another signal of the significant vote of confidence investors have in this increasingly important asset and ecosystem,” Hanley said.

Yaël Bizouati-Kennedy
12/10/25
Bitcoin rebounds but FOMC will set tone for Santa rally

Bitcoin symbol
crypto
Sage D. Young

New bitcoin AfterDark ETF will be bitcoin at night, Treasurys by day

Tidal Trust II submitted form N-1A with the SEC to register a bitcoin ETF designed to systemically capture the cryptocurrency’s overnight return profile, a time window that delivered a significant portion of bitcoin’s upside last year.

The Nicholas Bitcoin and Treasuries AfterDark ETF provides long bitcoin exposure during US overnight hours, from the closing bell until the following morning’s market open, when the fund intends to unwind its positions, according to a document filed with the SEC on Tuesday. 

To gain that exposure, the ETF may use a number of methods, including bitcoin futures contracts, US-listed ETFs, or exchange-traded options on such bitcoin underlying funds. When the market is open and daytime trading is active, the fund’s portfolio will consist of US Treasury securities and other cash equivalents. 

In 2024, most of bitcoin’s gains occurred after-hours, senior Bloomberg ETF analyst Eric Balchunas reported:

The AfterDark ETF filing comes as bitcoin crossed $94,000 on Tuesday, rising 4.5% in the last 24 hours. Even though spot bitcoin ETFs saw nearly $60.5 million in outflows on Monday, the investment vehicles have a cumulative net inflow of $57.6 billion, per SoSoValue.

Yaël Bizouati-Kennedy
12/8/25
Bitcoin will “snapback or chop ahead of the Fed” decision

Traders on prediction markets are divided, giving an equal chance that bitcoin drops below $80,000 or rises above $100,000 this year.

Bitcoin symbol
Yaël Bizouati-Kennedy
12/2/25
Legendary short seller James Chanos on the problem with Strategy’s business model

The noise has grown louder about Strategy being in trouble, but most experts think Strategy can weather the current bitcoin downturn, though one critic predicts this is “the beginning of the end.”

Bitcoin Conference Draws Cryptocurrency Fans To Miami

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