The cryptocurrency market is buzzing with significant developments, ranging from groundbreaking ETF approvals to critical price predictions and ecosystem challenges. Digital Currency Group founder Barry Silbert has lauded the approval of the Grayscale Digital Large Cap Fund (GDLC), hailing it as a "groundbreaking" achievement. This fund marks the very first multi-crypto exchange-traded fund (ETF), further bridging the gap between traditional finance and digital assets. Peter Mintzberg, CEO of Grayscale, confirmed the team is working "expeditiously" to bring this product to market. The GDLC offers diversified exposure to major cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and several prominent altcoins such as the Ripple-linked XRP token, Solana (SOL), and Cardano (ADA). Notably, XRP constitutes 5.2% of the fund, positioning it as the third-largest component. The fund, which initially launched as a private placement in early 2018 before becoming available on over-the-counter markets, had its conversion to an ETF approved by the SEC in early July, though it faced a brief halt for review. As of September 17, the GDLC boasts $915.6 million in assets. Grayscale is widely recognized as a trailblazer in the crypto ETF space, notably for its legal victory against the SEC, which ultimately led to the approval of Bitcoin ETFs in early 2024 and subsequently Ethereum ETFs. Grayscale's flagship GBTC fund currently holds over $20.5 billion in net assets.

Adding to the expanding ETF landscape, the upcoming launch of the REX-Osprey XRP ETF (XRPR) is generating considerable interest. Nate Geraci, President at NovaDius Wealth Management, views this launch as a crucial "litmus test" for gauging demand for traditional spot XRP ETFs. This new fund will operate under the '40 Act structure, with approximately 80% of its assets specifically allocated to XRP or other assets providing exposure to the token. This development follows the success of futures-based ETF products tracking XRP, which have already surpassed $1 billion in assets.

However, not all news in the digital asset space is entirely positive. The Shiba Inu (SHIB) ecosystem has recently witnessed a concerning drop in its burn rate. The SHIB burn rate plunged by nearly 58% in a 24-hour period, with only 69,420 SHIB tokens burned. This sharp decline in burn activity has sparked doubts among investors regarding the sustainability and momentum of SHIB's rally, highlighting a metric typically considered bearish for the asset.

Looking ahead, Fundstrat analytics expert Tom Lee has reiterated an ultra-bullish stance on Ethereum (ETH), providing a specific price prediction for the coming month. Lee forecasts Ethereum reaching $5,500 within a month and anticipates an even larger "monster move" for both Bitcoin and Ethereum over the next three months. He attributes this optimistic outlook to the expected monetary easing by the Federal Reserve. Lee explained that the Fed's decision to lower interest rates by 25 basis points, expected to be announced this week, will ensure a significant inflow of liquidity into the markets. This influx is projected to primarily benefit Bitcoin and Ethereum, positioning them as the main profiteers of the anticipated macroeconomic shift.