ETF-BTC Trading Statistics 2025-12-18:Yesterday's Bitcoin inflow: 347.46 million USD（3,956.22BTC），with a cumulative net inflow of $0，total trading volume of $6.42 billion，and a total market cap of $124.75 billion. ETF-ETH Trading Statistics 2025-12-18:Yesterday's Ethereum outflow: 2.80 million USD（945.68ETH），with a cumulative net inflow of $0，total trading volume of $1.65 billion，and a total market cap of $44.67 million.

Token Exchange 【JPC】BitMart 【XPASS】Coinone,MEXC 【SCOR】Gate,KuCoin,Hotcoin,XT,Bybit 【XGZ】MEXC 【IR】HTX,Kraken,Gate,KuCoin,Hotcoin,BitMart,MEXC,Bitget,XT,BingX

Huoxun Finance reported on December 18th that U.S. SEC Commissioner Hester Peirce issued a statement, in conjunction with a newly released set of Frequently Asked Questions (FAQs) from the Department of Trading and Markets, to solicit opinions from the market on matters related to the trading of crypto assets on National Securities Exchanges (NSEs) and Alternative Trading Systems (ATSs). The statement focuses on the trading and clearing arrangements for crypto asset securities and "security-non-security crypto asset" trading pairs. Peirce stated that SEC staff are prepared to work with market participants to facilitate compliant trading pairs on regulated platforms. Peirce pointed out that the current market urgently needs clearer market structure rules to protect investors and maintain market order while avoiding imposing unnecessary regulatory burdens on innovation. She specifically addressed whether Regulation ATS (introduced in 1998) and Regulation NMS are outdated in the context of crypto assets and blockchain technology. The core issues raised in the consultation include: how to lower the entry barriers for cryptocurrency securities and trading pairs platforms and encourage innovation; whether the current RegNMS and RegATS impose disproportionate compliance costs on cryptocurrency trading; whether a dedicated FormATS should be established for "crypto ATS" or existing disclosure systems should be adjusted; whether cryptocurrency ATS information disclosure should remain non-public or whether an SEC review or public disclosure mechanism should be introduced; whether it is necessary to retain the FormATS-R quarterly reporting requirement in the context of blockchain and on-chain data traceability; whether it is necessary to clarify the compliance methods for converting non-dollar assets to US dollars; how to handle requirements such as transaction information confidentiality, system risk control (Rule 15c3-5), and system compliance (RegSCI); and how to avoid hindering individuals from developing software and using automated or decentralized trading methods in the regulatory process. Peirce emphasized that these issues will serve as important references for the SEC's Crypto Working Group in subsequent policy development, and the regulatory agency is willing to hear broader suggestions to improve the overall NSE and ATS regulatory framework.

Huoxun Finance News, December 18th - The U.S. Securities and Exchange Commission's (SEC) Department of Trading and Markets issued a "Statement Regarding Brokerage Firms Holding Crypto Asset Securities." This statement clarifies the applicability of Rule 15c3-3(b)(1) of the Securities Exchange Act to crypto assets as securities (i.e., "crypto asset securities"), and applies to brokerage firms holding such assets for clients. The statement indicates that the SEC will not object to a brokerage firm's determination that it has physical possession or control of crypto asset securities in a client's account if the brokerage firm takes the following actions: 1. Access and transfer capability: Direct access to the crypto asset securities and the ability to transfer the asset on the relevant distributed ledger; 2. Technical risk assessment: Establishing and implementing reasonably designed written policies and procedures to assess the characteristics and risks of the distributed ledger technology and related networks that record ownership of the assets; 3. Risk mitigation: If aware of significant security or operational problems or weaknesses in the relevant distributed ledger technology, or If holding the asset would pose other significant risks to its business, it shall not claim possession of the asset; 4. Private Key Protection: Establish policies, procedures, and internal controls that conform to industry best practices to prevent the theft, loss, or unauthorized use of private keys required to access and transfer assets, and ensure that no one other than authorized by the broker-dealer (including clients or third parties) can access the private keys or transfer assets; 5. Contingency Plan: Develop well-designed written policies, procedures, and arrangements to ensure the continued secure preservation and transfer of crypto asset securities in the event of blockchain failures, 51% attacks, hard forks, or in the event of liquidation or bankruptcy of the broker-dealer.

According to SoSoValue data, XRP spot ETFs saw a net inflow of $18.99 million yesterday (December 17th, Eastern Time). The XRP spot ETF with the largest single-day net inflow was the 21Shares XRP ETF (TOXR), with a net inflow of $5.49 million, bringing its historical cumulative net inflow to $5.67 million. This was followed by the Canary XRP ETF (XRPC), with a net inflow of $5.19 million, bringing its historical total net inflow to $382 million. As of press time, the total net asset value of XRP spot ETFs was $1.14 billion, with an XRP net asset ratio of 0.98%, and a historical cumulative net inflow of $1.03 billion.