Bitcoin remains relatively stable above $61,100, while ether experiences a 4% drop to $2,390 amid geopolitical tensions following Iranian airstrikes on Israel, influencing a broader market sell-off. Despite the downturn,

Bitcoin (BTC) and Ethereum (ETH) are still declining and staying in the red zone. After the geopolitical tension that happened yesterday, the crypto market bled heavily. However, Bitcoin whales continue to accumulate stronger than before.

Crypto asset manager Bitwise has filed an initial registration statement with the U.S. SEC for an exchange-traded product for XRP tokens, as it seeks to introduce more crypto products after a landmark regulatory decision to approve spot bitcoin ETF earlier this year.

Bitwise's filing acknowledges the risk that the Securities and Exchange Commission (SEC) could win an appeal to reverse a court decision that would allow it to regulate XRP as a security.