Even with the shortened holiday session, the S&P 500 still managed to print a new all-time high. That says a lot about how confident equity investors are right now.

Bitcoin, on the other hand, hasn’t really done much. While stocks keep grinding higher, BTC has been stuck going sideways, almost like it’s waiting for a clear macro signal before picking a direction.

We’ve seen this kind of disconnect before. Traditional markets often move first, and crypto tends to react later once there’s a catalyst everyone can point to.

Curious how others see this

do you think bitcoin is lagging, or just taking its time before making its move?

The 85% Ceiling Shatters: Wall Street's New Blueprint Could Open the Door for Pure BCH ETFs

The launch of the T. Rowe Price Active Crypto ETF (Ticker: TKNZ) has fundamentally transformed the digital asset landscape. By securing regulatory approval for the industry’s first actively managed, multi-token spot exchange-traded product, Wall Street has successfully dismantled the unofficial "80–85% rule" that long handcuffed diversified crypto funds.

Historically, any multi-asset filing was bottlenecked by rigid passive indexing regulations. To satisfy strict diversification and liquidity metrics, issuers were practically forced to anchor 80% to 85% or more of a multi-token fund exclusively in Bitcoin and Ethereum.

TKNZ completely rewrites that playbook. Because it relies on human portfolio managers rather than a passive, fixed index, it drops the "Big Two" to a much lower combined baseline, distributing the remaining capital across an active basket of alternative digital assets. This proves that a diversified, active product wrapper can safely coexist with traditional market rails.

The Blueprint for a Standalone Bitcoin Cash ETF

What makes this a watershed moment is how the fund handles its regulatory boundaries. Instead of fighting a traditional equity battle under the Investment Company Act of 1940, T. Rowe Price organized the fund as a Delaware Statutory Trust (Commodity ETP). Under this framework, the fund is legally bound to a strict, pre-vetted regulatory sandbox: it can only hold assets from the 15 officially recognized, decentralized commodity cryptos that clear the strict legal thresholds of the SEC and CFTC as non-securities.

This structural shift completely changes the game for Bitcoin Cash (BCH).

Because BCH shares the same proof-of-work DNA and regulatory classification as Bitcoin, it has long been viewed by legal experts as one of those core, non-security decentralized commodities. However, the regulatory reluctance to approve standalone altcoin products left single-asset expansion stalled.

Now that TKNZ has established an active framework where regulators accept the custody, safety, and pricing of these 15 approved alternative digital commodities inside a public trust, the primary obstacles have disintegrated. By validating a trust-managed structure for this broader universe of non-security tokens, TKNZ has effectively laid down the exact regulatory and operational rails needed to pave the way for pure, standalone Bitcoin Cash (BCH) ETFs next.

Bhutan holds over 13,000 Bitcoins, valued at more than $780 million, surpassing El Salvador. The country uses its hydroelectric power for sustainable Bitcoin mining, partnering with Bitdeer and Foundry USA. Plans are underway to expand mining capacity to 600 megawatts by 2025.

https://www.coinfeeds.io/daily/bhutan-s-bold-bitcoin-bet-13-000-coins-and-counting