Bitcoin Soars to $97,000, XRP ETF Discussions, Sui's Partnership with Pokémon, and Additional Highlights in Cryptocurrency Markets
Crypto Chronicles: Hottest Developments This Week
Fired up happenings stirred up the crypto world this week, with Bitcoin (BTC) and XRP taking center stage. Here's a lowdown on what's been shaking up the crypto realm.
BTC Rides the Volatile Wave
First off, Bitcoin aimed for the stars, testing the $97,000 milestone—a feat not seen since February 2025. Although it retreated shortly after reaching $96,731, its tenacity was noteworthy.
BTC experienced significant roller-coaster rides over the past few months, facing President Trump's tariffs and their ensuing chaos, such as temporary pauses, retaliations, and de-escalation rumors. Yet, amidst all this turmoil, Bitcoin remained a shining beacon of hope for traders looking to hedge against traditional finance (TradFi) and US Treasury risks. institutional interest in BTC has soared, with Bitcoin ETFs experiencing increased inflows, while gold ETPs trailed behind.
Sui's Pokémon Partnership Whispers
Next up, excitement brewed in the crypto sphere, fueled by potential collaborations between Sui blockchain and Pokémon. As the rumor mill turned, SUI price rocketed by over 60% within the week.
These chatterings went full tilt after a privacy policy update for Pokémon HOME included Parasol Technologies, a Web3 gaming infrastructure company, as a new developer. Interestingly, Parasol Technologies was acquired by Sui's developer, Mysten Labs, in March 2025.
Nevertheless, modifications in a circulating document dampened the excitement, squashing the speculation that had driven the SUI price surge.
"On the official Sui Foundation blog, they confirmed (and removed) Pokémon NFTs. They seem to be developing a cloud infrastructure that leverages blockchain technology for smoother transfers between compatible games, a feature already offered by Pokémon Home," a user pointed out.
Despite the clarification, talk continues that Parasol might be contributing to new features for Pokémon.
XRP and the ProShares ETF
Rumors cropped up this week suggesting that the US SEC had green-lit a ProShares XRP ETF. However, it seems these whispers were premature, as BeInCrypto reported that the SEC had only approved ProShares' Leveraged and Short XRP Futures ETFs. ETF analyst James Seyffart further clarified the situation, busting the XRP ETF myth.
"It's been confirmed that a ProShares XRP ETF is not launching on April 30th. We haven't received confirmation on a launch date yet, but we anticipate one shortly. For now, we believe three new futures-based ETFs will be launched, including the Ultra XRP ETF, Short XRP ETF, and Ultra Short XRP ETF," Seyffart explained.
These developments were met with enthusiasm, as they signaled that a spot XRP ETF might not be too far off. Industry expert Armando Pantoja predicts that a spot XRP ETF could draw in massive capital inflows, potentially propelling prices as high as $100 billion.
XRP Futures ETF—A Boon for XRP
The SEC's approval of the ProShares XRP futures ETF generated optimism, hinting at the possibility of a spot XRP ETF around the corner. According to Pantoja, this move would expand XRP's investor base and fortify the coin's long-term outlook.
Analysts, however, emphasized that the futures ETF should not be seen as the industry's silver bullet. "The real game-changer will emerge when a Spot XRP ETF gets approved. That's when we'll see real demand, real market impact," John Squire posted.
SEC Slows the XRP ETF Pace
Lastly, the US SEC has delayed its decision on a prospective XRP ETF until June 17. A bunch of crypto-related ETF applications, including those for XRP, Dogecoin (DOGE), and Ethereum staking, were also put on hold, with final decisions currently expected in Q4 of 2025.
Stay tuned as we keep you posted on the latest crypto happenings!
Sources:1. investopedia.com, 2021)2. bitcoinist.com, April 20253. ethtrader.news, April 20254. theblockcrypto.com, April 2025
- The Bitcoin (BTC) price surged this week, reaching a milestone of $96,731, demonstrating its resilience despite President Trump's tariffs.
- Bitcoin's tenacity has been noteworthy for traders looking to hedge against traditional finance (TradFi) and US Treasury risks, with institutional interest in BTC increasing.
- Amidst tariff-related turmoil, Bitcoin ETFs have seen increased inflows, while gold ETPs have trailed behind.
- Excitement stirred in the crypto sphere over potential collaborations between Sui blockchain and Pokémon, causing the SUI price to surge by over 60%.
- A privacy policy update for Pokémon HOME named Parasol Technologies as a new developer, a company previously acquired by Sui's developer, Mysten Labs.
- Although Sui clarified that it was developing cloud infrastructure for compatible games, not Pokémon NFTs, speculation persists that Parasol might be contributing to new features for Pokémon.
- Rumors suggesting a ProShares XRP ETF launch were premature, with only ProShares' Leveraged and Short XRP Futures ETFs approved, not a spot XRP ETF.
- The US SEC has delayed the decision on a prospective XRP ETF until June 17, also putting on hold crypto-related ETF applications for XRP, Dogecoin (DOGE), Ethereum staking, and others, with final decisions expected in Q4 of 2025.
