Crypto Market Recap: Trump Media Files “Crypto Blue Chip ETF”

Bitcoin and Ethereum price update

Bitcoin (BTC) is priced at US$108,700 a 0.3 percent increase in the last 24 hours. The day’s range for the cryptocurrency brought a low of US$108,198 and a high of US$109,123.

Bitcoin price performance, July 9, 2025.

Chart via TradingView

Bitcoin pushed past US$109,000 again buoyed by mild support from institutional inflows and risk-on sentiment amid tariff uncertainty.

Ethereum (ETH) is priced at US$2,546.07, up by 3.2 percent over the past 24 hours. Its lowest valuation as of Wednesday was US$2,562.60, and its highest was US$2,659.18.

Altcoin price update

Solana (SOL) was priced at US$152.50, up by 1.8 percent over 24 hours. Its lowest valuation as of Wednesday was US$149.74, and its highest was US$154.45.

XRP was trading for US$2.33, up 4.1 percent in the past 24 hours. The cryptocurrency’s lowest valuation was US$2.28, and its highest was US$2.39.

Sui (SUI) is trading at US$2.91, up by 2.8 percent over the past 24 hours. Its lowest valuation was US$2.87 and its highest was US$2.97.

Cardano (ADA) is priced at US$0.5966, up by 5.1 percent in the last 24 hours. Its lowest valuation as of Wednesday was US$0.5801, and its highest was US$0.6148.

Today’s crypto news to know

Tether reveals it holds US$8 billion in gold in private Swiss vault

Tether, the issuer behind the world’s largest stablecoin USDT, has disclosed it holds nearly 80 metric tons of gold worth US$8 billion in a private Swiss vault, according to a Bloomberg report.

The company, which manages over US$159 billion in circulating stablecoins, says most of the gold is directly owned by Tether, making it one of the world’s largest private gold holders outside of sovereign institutions.

CEO Paolo Ardoino confirmed the gold is stored in a highly secure location in Switzerland, though he declined to disclose the exact facility for safety reasons.

The firm also operates a gold-backed token called XAUT, with each coin redeemable for one ounce of physical gold.

Tether’s increasing exposure to gold comes amid rising demand for safe-haven assets and ongoing concerns about US debt sustainability. However, new regulations in the US and EU may force the company to divest gold from USDT’s reserves if it seeks formal approval in those markets.

Trump Media files for ‘Crypto Blue Chip ETF’

Trump Media & Technology Group has filed to launch its third crypto-focused ETF under the Truth Social brand, dubbed the “Crypto Blue Chip ETF.”

The fund aims to allocate 70 percent to Bitcoin, 15 percent to Ether, and the remainder to Solana, Cronos, and XRP.

This marks the latest move by the Trump-affiliated media company to expand its crypto investment footprint following two prior filings focused more narrowly on Bitcoin and Ether. The ETF is set to trade on NYSE Arca, and is being developed in partnership with Crypto.com.

The company had earlier disclosed plans to raise US$2.5 billion to directly acquire Bitcoin. While Trump Media’s stock rose nearly 3 percent on the day of the announcement, it remains down over 40 percent year-to-date.

Sequans Communications soars 43 percent on Bitcoin Treasury Strategy

Chipmaker Sequans Communications saw its stock jump 43 percent after announcing a major pivot to a Bitcoin-based treasury reserve strategy.

The firm raised US$384 million through equity and debt instruments to begin acquiring Bitcoin as a long-term corporate asset, emphasizing Bitcoin’s scarcity and independence from central banks as reasons behind the move and its potential to strengthen the company’s financial footing.

More than 40 institutional investors backed the fundraising, including convertible debentures and warrants that could bring in another US$57 million.

The company plans to allocate future cash flows toward continued Bitcoin purchases.