Gate Daily (September 26): XRP included in the encryption index US ETF; XPL big pump on its first day of listing; 9 major European banks jointly promote stablecoin.

Bitcoin (BTC) market depth has seen a retracement, currently reported at around $109,472 on September 26. Hashdex has expanded its cryptocurrency index US ETF based on SEC's universal listing standards, including Ripple (XRP). Major European banks have jointly launched a Euro-pegged stablecoin that complies with the European cryptocurrency market (MiCA) framework. The stablecoin-centric Layer 1 blockchain Plasma has launched its Mainnet and native XPL token, with prices once rising to $1.59.

Today's Outlook

1. Canada July GDP (monthly), previous value -0.1%

2. U.S. personal consumption expenditures for August (month-on-month), previous value was 0.5%.

3. U.S. August personal income (monthly rate), previous value was 0.4%

4. The U.S. Personal Consumption Expenditures Price Index for August (month-on-month) was 0.2% previously.

5. U.S. personal consumption expenditures for August (in billions of dollars) were 1,345, previous value.

6, The final value of the University of Michigan Consumer Confidence Index for September in the United States is 55.4, previous value.

7, Federal Reserve Board Governor Barr speaks on bank stress tests.

8. San Francisco Fed President Daly gives a speech

9. Richmond Federal Reserve Chairman Barkin delivered a speech.

10. Federal Reserve Board Member Bowman delivered a speech.

Macroeconomic Events & Crypto Hotspots

1. Asset management company Hashdex has expanded its cryptocurrency index Exchange-Traded Fund (ETF) to include XRP, SOL, and XLM, following the U.S. Securities and Exchange Commission (SEC)'s changes to the general listing rules. The ETF listed on the Nasdaq stock exchange currently includes five cryptocurrencies, including Bitcoin and Ethereum, which the fund holds 1:1, with the company's stock symbol being NCIQ. The U.S. Securities and Exchange Commission approved the general listing standards for ETFs in September, paving the way for a faster approval process for ETFs of eligible cryptocurrencies. To qualify for general listing, cryptocurrencies must be classified as commodities, or listed on reputable exchanges, and possess futures contracts. Additionally, eligible cryptocurrencies must be subject to financial regulation by the U.S. Market Surveillance Organization (US ISR).

2. Several major European banks have joined forces to launch a euro-pegged stablecoin that complies with the European crypto asset market (MiCA) framework. According to a joint statement released by ING ( on September 25, ING and Italy's UniCredit ) are among the nine banks participating in the development of the euro-denominated stablecoin. This stablecoin complies with the European MiCA regulations and is expected to be issued in the second half of 2026, with the mission of becoming a trusted European payment standard in the digital ecosystem. Additionally, the European stablecoin initiative also includes Spain's CaixaBank, Denmark's Danske Bank, Austria's Raiffeisen Bank International, Belgium's KBC, Sweden's SEB, Germany's DekaBank, and another Italian bank, Banca Sella.

3. The stablecoin-centric Layer 1 Blockchain Plasma has launched its Mainnet and native XPL Token, introducing zero-fee USDT transfers through a custom consensus called PlasmaBFT, as well as over 100 DeFi integrations. Plasma positions the new network as one built specifically for global capital flow. The team stated that they have created an EVM-compatible Blockchain, allowing users to send USDT for free during the initial deployment phase. Launch partners include Aave, Ethena, Fluid, and Euler.

( Market Trend

1. Latest news on Bitcoin: $BTC market depth correction, currently reported around 109,472 USD, with a liquidation of 282 million USD in the past 24 hours, primarily long positions being liquidated;

2. The U.S. stock market closed slightly down on September 25, marking the third consecutive day of declines, the longest losing streak in over a month. Most sectors of the S&P 500 index closed in the red, as the latest batch of economic data failed to reignite market momentum, adding uncertainty to the Federal Reserve's (Fed) future rate cut path. The Dow Jones Industrial Average closed down 173.96 points, a decrease of 0.38%, at 45,947.32 points; the S&P 500 index dropped 33.25 points, a decrease of 0.50%, at 6,604.72 points; the Nasdaq index fell 113.16 points, a decrease of 0.50%, at 22,384.70 points. The Philadelphia Semiconductor Index dropped 12.32 points, a decrease of 0.2%, at 6,284.67 points.

![Gate Clearing Map])https://img-cdn.gateio.im/webp-social/moments-87a9b3933a-e3f7b2b7f7-153d09-6d2ef1.webp###

(Source: Gate)

3. In the Gate BTC/USDT liquidation map, based on the current 109,290.70 USDT, if it falls to around 108,411 USD, the cumulative liquidation amount of long positions exceeds 255 million USD; if it rises to around 110,504 USD, the cumulative liquidation amount of short positions exceeds 562 million USD. The liquidation amount for short positions is significantly higher than that for long positions, so it is recommended to reasonably control the leverage ratio to avoid triggering large-scale liquidations during market fluctuations.

(Source: Coinglass)

4. In the past 24 hours, BTC spot inflow was 2.94 billion USD, outflow was 3.30 billion USD, with a net outflow of 0.06 billion USD.

(Source: Coinglass)

5. In the past 24 hours, the net outflow of contract trading for $ETH, $BTC, $SOL, $DOGE, and $XRP has led, indicating trading opportunities.

( News Updates

1. SEC Chairman responds to conflicts of interest in the encryption industry, emphasizing law enforcement in accordance with the law.

2. Brazilian police crackdown on money laundering groups using cryptocurrency, freezing over 30 wallets.

3. ChatGPT has launched the Pulse feature for Pro users, and will consider expanding it to Plus users in the future.

4. Bloomberg Analyst: Bitwise has submitted a Hyperliquid ETF application to the US SEC.

5. Federal Reserve's Logan: The Federal Reserve should abandon the federal funds rate and switch to using Treasury bonds to collateralize the overnight rate.

6. Trump announced tariffs on a range of furniture, heavy trucks, and medical products.

7. Aster has completed the abnormal handling of the XPL perpetual contract and has committed to compensation.

8. BlackRock registers Bitcoin premium yield ETF in Delaware.

9. Regulatory agencies investigate abnormal trading before multiple companies' encryption strategies.

10. Plasma confirmed that users participating in the IC0 pre-storage plan will receive an airdrop of XPL valued at approximately 8,390 USD.

11. Ethereum co-founder Jeffrey Wilcke deposited 1,000 ETH into the exchange, worth 4 million dollars.

) X KOL Selected Insights

Phyrex Ni (@Phyrex_Ni): "In yesterday's operations, I was still considering whether to close my short position before Friday's core PCE. Just because I hesitated for a while, I planned to wait and see today, and since I didn't look at the market during the day, I turned from profit to loss when there was a significant drop. I was still saying yesterday not to be greedy, and today I ended up paying the price for my own greed. Next, I’m directly betting on Friday night's core PCE data."

"I talked a bit about today's decline in the pinned tweet. Although I personally feel it is due to the escalation of conflicts between NATO and Russia, that is not important. Whether my feelings are correct or not has nothing to do with my friends' operations. I believe everyone should have their own analytical logic to find the reasons for the decline and determine what kind of operational plan to adopt in response to the current market. In plain terms, you don't necessarily need to know the reasons for the rise and fall 100%, but what you need is to react to the changes in the market, whether to reduce positions, increase positions, or stay put. These decisions should be made based on your own judgment, rather than just watching the market remain unchanged and then regretting missing out on operational opportunities."

"Looking back at the data of Bitcoin, there is indeed panic today, with a sudden increase in turnover. The main reason has been discussed a lot earlier, and what the real reason is may not be known to anyone. However, what we should do more is to have an operational plan for such situations. Personally, I think it may be due to NATO and Russia, and I also feel that it is not easy for the war to reach a peaceful nuclear stage. Therefore, my defensive position is just my personal judgment, and I may not be right. From a support perspective, we have now entered a support range, and the support has not been broken. Although investors who are trapped above are experiencing panic, there has not been a collapse. So I think it can still hold, and whether it is due to geopolitical conflicts or the speeches of Federal Reserve officials, it is not the main game right now."