FTX has announced its second round of repayments to creditors, with distribution set for May 30. This payment will include claims from both Class 5 Customer Entitlement Claims and Class 6 General Unsecured Claims, covering those affected by the platform’s collapse. To qualify for these repayments, creditors must verify their claims by April 11.

The recovery plan indicates that 98% of creditors will receive at least 118% of their claim’s value, with total distributions expected to range between $14.5 billion and $16.3 billion. This round will particularly affect creditors with claims above $50,000.

FTX has partnered with Kraken and BitGo to facilitate the distribution, with creditors required to complete necessary verification and tax forms to participate. The initial distribution, which began on February 18, targeted smaller claims from the “Convenience Class.”

The crypto community is closely monitoring the impact of these payments, with many creditors opting to sell their claims in the past two years. While some may hesitate to reinvest in crypto due to the trauma of the bankruptcy, others are hopeful for liquidity after a prolonged wait.

MEMX Exchange has filed to list the 21Shares Core XRP Trust, marking a significant development in the crypto space. This request follows the SEC’s acknowledgment of a similar filing by Cboe to list the 21Shares XRP exchange-traded fund (ETF). The approval of such a listing would categorize XRP similarly to Bitcoin and Ether ETFs, which were launched in the U.S. last year.

The move comes after a partial resolution of the ongoing legal case between the SEC and Ripple, which involved the classification of XRP. A judge ruled that XRP is not inherently a security but could be considered one in certain conditions. This decision has paved the way for exchanges like MEMX and Cboe to seek listing approvals for XRP-related funds.

With the potential approval of XRP ETFs, the cryptocurrency market is witnessing a growing interest in digital asset ETFs. The SEC’s approach to such filings is evolving, with many crypto-related investment vehicles awaiting regulatory clearance. The ongoing developments suggest that the regulatory landscape for digital assets may become more favorable, especially with political shifts in the U.S.

The rise of crypto ETFs is also expanding beyond just Bitcoin and Ether, with filings for products linked to other cryptocurrencies like Solana and Litecoin. Industry experts believe this diversification signals broader acceptance of cryptocurrencies in the financial ecosystem, as more exchanges and issuers position themselves for regulatory approval.

Grayscale has launched a new investment fund for the Pyth Network’s native token, PYTH, to provide investors with exposure to the growing Solana ecosystem. The Grayscale Pyth Trust will cater to qualified investors, offering a chance to invest in the governance token that powers Pyth’s decentralized oracle network. Pyth plays a critical role by delivering real-time market data to over 90 blockchain networks, with 95% of decentralized apps on Solana relying on its price feeds.

Pyth’s services support various data types, including cryptocurrencies and commodities, and are integral to the Solana ecosystem’s expansion. Grayscale highlighted that this investment fund targets “higher-beta” opportunities tied to Solana’s growth, particularly as Solana’s blockchain has seen a significant increase in value locked. Despite some setbacks, including the volatility of memecoins, Solana remains one of the top revenue-generating blockchains, outperforming Ethereum.

Grayscale’s expansion into single-asset crypto funds is part of a broader strategy to offer more specialized investment products. This includes the launch of other funds for Dogecoin and governance tokens for Lido and Optimism, as well as plans to introduce more altcoins. Grayscale, renowned for its Bitcoin and Ethereum investment vehicles, is positioning itself as a key player in the crypto fund space.

The move to include PYTH in Grayscale’s portfolio reflects the growing interest in decentralized financial infrastructure. As the Solana ecosystem continues to expand, the integration of projects like Pyth with broader crypto market trends suggests a strong outlook for decentralized finance. Grayscale’s fund adds another layer to their crypto offering, appealing to investors seeking exposure to blockchain data providers.