Nasdaq has submitted an S-1 form for the 21Shares Dogecoin ETF with the US Securities and Exchange Commission (SEC). This move officially kicks off the approval process, with the Commission having to decide whether or not to approve the fund, which will provide institutional investors access to the top meme coin.
Nasdaq Files To List & Trade 21Shares Dogecoin ETF
A Nasdaq filing has revealed that the exchange has submitted an application to the US SEC to list and trade the 21Shares Dogecoin ETF. This move is significant, as the S-1 filing officially begins the approval process.
The SEC will then move to publish the filing in the Federal Register and ask for public comments on the filing before it decides to approve or deny. It is worth mentioning that asset manager 21Shares had earlier this month filed the 19b-4 form for its DOGE ETF. This move showed the firm’s intention to offer investors exposure to the largest meme coin by market cap.
Besides 21Shares, Grayscale, and Bitwise have also filed to offer a Dogecoin ETF, providing a bullish outlook for the DOGE price, which could surge as institutional investors invest in the meme coin. More asset managers are expected to file for a DOGE ETF as interest in the meme coin picks up.
What’s Next For The Dogecoin Price?
The DOGE price remained unchanged following Nasdaq’s S-1 filing for the 21Shares Dogecoin ETF. However, crypto analyst Trader Tardigrade predicts that a breakout might be on the horizon for the top meme coin.
In an X post, the analyst noted that Dogecoin has been moving within different ranges, experiencing both false breakdowns and breakouts. He added that the meme coin has now returned to its current range. In line with this, he expects DOGE to break out, potentially sending it higher.
The TRUMP token, a Solana-based meme coin associated with U.S. President Donald Trump, rose 7% in the last 24 hours. This TRUMP price increase comes ahead of a scheduled token unlock event that will draw attention across the cryptocurrency market.
Despite the market’s broader weakness, the TRUMP token is showing signs of stabilization. Analysts are closely watching the token’s next moves as more supply is set to enter circulation.
Large TRUMP Token Unlock Set for April 18
The TRUMP token will unlock 40 million new tokens on April 18. These will be distributed to the project’s team members. Based on the current trading price, the value of this unlocks is around $320 million.
According to crypto analytics platform Tokenomist, this unlock will increase the circulating supply, raising it to around 240 million TRUMP. The total supply of the token is capped at 1 billion. These tokens represent over 60% of all scheduled insider unlocks for the week, totaling $519 million. Fast Token and Arbitrum will also unlock $80.6 million and $27.2 million worth of tokens, respectively.
Token unlocks can add supply without increasing demand. If many of these tokens are sold, this can cause price declines. Investors have been watching the token closely ahead of this release, especially after large losses earlier this year.
Market Sentiment and Holder Data
The TRUMP token price saw a high of $73.43 on January 19. Since then, TRUMP has fallen by nearly 89%, reaching around $8.03. Despite this drop, some technical indicators suggest buying pressure may be returning.
Data from Dune shows that the number of unique TRUMP token holders has decreased from 817,000 at launch to about 637,000. Wallets holding over $1,000 in TRUMP have dropped from 143,000 in January to only 12,000. This has been prompted by recent whale sell-offs with major losses, as reported by CoinGape.
Though interest in the token has slowed, recent price action shows a possible change. The price has moved from a low of $7.50 to $8.03, showing signs of a short-term rebound.
Technical Indicators Suggest Possible Breakout
The TRUMP token price technical analysis points to a possible upward movement. Since April 8, the token has been trading between $7.65 and $8.30. This range may act as a base before a breakout.
Chaikin Money Flow (CMF) is around -0.03, slightly below zero. A move above zero could signal growing buying activity. The Money Flow Index (MFI) is at 42.87, within a neutral range but rising steadily. This shows that the buying volume is slowly building, a precursor of a TRUMP price bullish breakout.
The chart suggests the TRUMP token price may dip to the $7.65 zone before a strong rally. If buying momentum continues, the price could break resistance at $8.30 and move toward the $9.50 level.
Analyst Charts Key Levels For TRUMP Price
According to crypto analyst CryptoBheem, the TRUMP token has been consolidating in a tight range, forming a base after weeks of decline.
As per CryptoBheem, multiple touches of the $8.30 resistance level raise the breakout chance.
If the TRUMP token price maintains upward momentum, it could push toward the $10.50–$11.00 zone. However, if the token fails to hold above $8.00, a drop to $7.50 may follow.
If Bitcoin reaches $119,000 by the end of August, MicroStrategy’s (now Strategy) third-quarter earnings could set a new record for a publicly traded company’s highest quarterly profit in financial history. This impressive figure would easily top Nvidia’s earnings and approach Apple’s record.
As Bitcoin gains widespread acceptance, it prompts the question of whether major players will adopt Strategy’s plan by the book. According to Brickken analyst Enmanuel Cardozo, it depends. Though Strategy’s current achievements are impressive, the quality of its long-term health comes into question.
Could MicroStrategy’s Bitcoin Gains Top Tech Giants?
Michael Saylor’s aggressive Bitcoin plan for Strategy (formerly MicroStrategy) continues to remain strong through sunshine or rain. For now, it shows no signs of slowing. With 592,100 Bitcoins on its balance sheet, Strategy is the biggest corporate holder worldwide.
As Bitcoin’s price continues to climb, so will Strategy’s overall earnings. This large-scale success has already led several publicly traded companies to follow suit. The question is whether other corporate giants will also take the leap and purchase Bitcoin.
If Bitcoin closes Q3 above $119,000, and Strategy has 592,100 bitcoins acquired at an average cost of $70,666 each, Strategy’s estimated quarterly net earnings would be approximately $28.59 billion.
Strategy’s most recent Bitcoin purchases. Source: Strategy.
This figure would exceed Nvidia’s highest reported quarterly net income of $22.091 billion, making it Strategy’s largest quarterly earnings and a significant outlier among many publicly traded tech companies.
Since Strategy uses fair value accounting for its Bitcoin, it directly reflects these gains in its net income. If Bitcoin’s price continues to rise beyond this level, Strategy’s earnings could potentially challenge Apple’s current record-setting quarterly net income of $36.33 billion.
Could this unprecedented success generate a fear of missing out among other competitors?
To Buy or Not to Buy
Cardozo expressed excitement over how such a scenario could generate further Bitcoin adoption by other corporate trailblazers.
“With [Strategy’s] 592,100 BTC holdings, other companies might feel the need to finally jump in, especially as Strategy’s performance is outpacing traditional metrics. That kind of success won’t go unnoticed and will eventually push their boards to at least explore Bitcoin to keep up,” he told BeInCrypto.
Some of Bitcoin’s advantages over assets may even appeal to companies with massive earnings, like Nvidia or Apple.
“There’s a solid case for tech giants like Apple and Nvidia to diversify into Bitcoin, and I’m loving the possibilities here. On the pro side, Bitcoin is built as a perfect hedge against fiat devaluation because of its limited supply and decentralized nature,” Cardozo added.
However, a playbook like Strategy’s comes with many risks, and it’s not a one-size-fits-all win—even for Strategy itself.
Strategy’s Financial Health: A Deeper Dive
While Strategy has seen significant profits from holding Bitcoin, these gains primarily stem from a tax advantage, not from its core business operations.
“These gains, driven by fair value accounting, aren’t cash in hand like Apple’s billions from iPhone sales, they are paper profits tied to Bitcoin’s price. Investors and analysts should see this as a speculative boost, not a sign of operational strength, and focus on cash flow and debt to gauge real business health,” Cardozo explained.
Effectively comparing Strategy’s net income to other characteristics like cash flow and debt indeed reveals more about the problems that may lie ahead for the company, especially if Bitcoin’s price were to decline steadily.
Changes in Bitcoin’s price over the past three months. Source: BeInCrypto.
According to the firm’s most recent SEC filings, Strategy reported its outstanding debt amounted to $8.22 billion as of March 2025. It also had a negative cash flow of -$2 million, representing a significant decline year over year.
Though these numbers make sense considering Strategy’s aggressive Bitcoin buying, they also demonstrate that the company’s core software business is not generating enough cash to cover its expenses. Strategy said so itself in its latest filing.
“A significant decrease in the market value of our Bitcoin holdings could adversely affect our ability to satisfy our financial obligations,” read the statement.
It must issue debt and new equity to raise capital to continue its strategy. The plan is risky, to say the least.
Is Bitcoin Right for Every Company?
Given that Strategy’s main income comes from its Bitcoin purchases, Cardozo argues that other companies should carefully consider their financial position before taking a similar approach.
“Analysts should weigh this against operational metrics; a company living on unrealized gains is riskier by nature. I think it’s an innovative strategy, but for long-term health, especially for traditional businesses, cash-generating operations beat paper profits any day, investors should keep that in mind,” he said.
However, as Bitcoin increasingly symbolizes technological innovation, companies aligning with this principle might feel pressured to embrace it. They wouldn’t need to acquire nearly 600,000 Bitcoins, like Strategy, to make such a statement.
They also have a resilient enough treasury to break a fall.
“I’m pretty confident that Apple and Nvidia will eventually invest into Bitcoin, especially with its current track record over the last 10 years,” Cardozo said, adding, “their treasuries could handle a small 1-5% allocation, and not only be hedged against inflation but also as a branding move since they represent the very image of innovation which will also pressure them to do so eventually.”
Yet, ultimately, companies like Apple and Nvidia cater to different customers. Adding Bitcoin to their balance sheets may cause them to lose clients.
The Sustainability Question for Bitcoin Adopters
It’s no secret that Bitcoin mining is extensively damaging to the environment. Strategy, through its Bitcoin acquisitions, directly contributes to the high energy consumption levels associated with the industry.
“Bitcoin’s annual energy consumption is equivalent to a mid-sized country and of course it’s a conflict right off the bat with Apple’s 2030 carbon neutrality target and Nvidia’s renewable energy push,” Cardozo told BeInCrypto.
These companies could risk damaging their public image by associating with an industry that conflicts with their own Environmental, Social, and Governance (ESG) goals.
“Customers and activists might pressure them, seeing it as greenwashing, especially with sustainability being a big part of their public image… they could align Bitcoin with their ESG goals and keep their image intact as Bitcoin mining becomes more sustainable than traditional banking’s legacy system,” Cardozo added.
Ultimately, while the allure of Bitcoin’s gains might pressure tech giants like Apple and Nvidia to follow Strategy’s lead, such a consideration may cause these companies more problems than profits.
Ethereum price is dips 3% to hit $2,520 on Friday, bullish territory, with strong institutional accumulation signals stregthening key support levels.
BTCS Inc. Arranges Financing to Fund $57.8 Million of Etherereum (ETH) Resereve
Ethereum (ETH) found support amid a tame altcoin market trend on Thursdsy. While the likes of Cardano (ADA) and Solana (SOL) posted 4% losses apiece ETH managed to limit lossses to 3.2% on the day.
Ethereum’s resilient showing is linked to a critical statement from BTCS Inc. announcing a significant $57.8 million financing deal aimed at expanding its Ethereum holdings and validator infrastructure.
Ethereum Price Action, May 16, 2025 | Coingecko
The structure of the agreement includes an initial $7.8 million tranche and room for an additional $50 million, demonstrating institutional-level confidence in Ethereum’s long-term trajectory.
The convertible notes carry a hefty 194% premium at $5.85 per share, which not only reflects optimism but also mitigates short-term dilution unless BTCS stock appreciates considerably. Furthermore, the CEO’s personal commitment of $95,000—and $200,000 from a related trust—adds credibility to the bullish stance on ETH.
Strategically, BTCS is modeling this initiative after MicroStrategy’s Bitcoin playbook, but with a clear Ethereum-specific twist: recurring validator income. Unlike BTC holdings, Ethereum provides staking rewards, and BTCS plans to scale this revenue stream via its Builder+ platform. This means ETH functions not only as a store of value but also as a yield-bearing asset integrated into core operations. If Ethereum continues to rise alongside network demand, BTCS stands to benefit from both capital appreciation and validator-based cash flow.
What’s Next?
Ethereum’s steady price consolidation above $2,500 puts it in a favorable technical position as the market assesses macro and regulatory risks. Should price maintain its hold above this level, supported by fresh institutional inflows like those from BTCS, the path toward reclaiming the $2,700 to $2,800 resistance range remains viable.
More importantly, ETH price withstanding external shocks from the FTX-induced sell-offs, reduced volatility relative to its altcoin peers. If staking demand, validator scaling, and institutional ETH strategies continue to expand, Ethereum may enter a structurally stronger phase, with a long-term target at the $3,000 level.
Ethereum forecast today points to renewed bullish potential as price action consolidates firmly above $2,500, with technical indicators supporting a continuation move toward $2,800.
Despite modest retracement pressure in recent sessions, ETH remains structurally intact, with Bollinger Bands showing a steady upper band expansion, affirming bullish volatility. Friday’s close at $2,549.89—right at the session high. This signals strong intraday recovery and suggests dip buyers are defending the range lows with conviction.
The RSI, currently at 72.33, continues to hover in overbought territory but shows signs of stabilizing, reflecting healthy momentum without excessive froth. The price remains above both the VWAP and mid-band support, signaling control remains with buyers.
Ethereum Price Action, May 16, 2025 | Coingecko
As institutional interest deepens, highlighted by BTCS Inc.’s newly announced $57.8 million Ethereum accumulation strategy, an early rebound remains on the cards.
In the event bulls maintain control above $2,500 and momentum continues to hold above RSI 70, the next logical resistance sits near $2,800. On the flipside, decisive break below the $2450 this level could open the path toward $2,200 in the medium term.
