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#GateRedBullRacingTour# - 📢 Gate releases its latest Reserve Audit Report!
💰 Total reserves: $10.453B
🟢 Excess reserves: $1.96B — ensuring full coverage and extra security for user assets.
Gate continues to uphold 100% proof-of-reserves and full transparency.
🔗 Read the full report: https://www.gate.com/zh/announcements/article/45617
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- #Gate Latest Proof of Reserves Reaches 10.453 Billion Dollars#
Gate has released its latest Proof of Reserves report! As of June 2025, the total value of Gate’s reserves stands at $10.453 billion, covering over 350 types of user assets, with a total reserve ratio of 123.09% and an excess reserve of $1.96 billion.
Currently, BTC, ETH, and USDT are backed by more than 100% reserves. The BTC customer balance is 17,022.60, and Gate’s BTC balance is 23,611.00, with an excess reserve ratio of 38.70%.The ETH customer balance is 386,645.00, and Gate’s ETH balance is 437,127.00, with an excess reserve
Altcoin ETF approvals may have different effects on Solana and Litecoin
The crypto research and consulting firm K33 published an important analysis regarding altcoin ETFs. The company stated that the U.S. Securities and Exchange Commission is much closer to approving altcoin ETFs, and that this situation will particularly stimulate futures traders.
"Long for Sol, short for LTC..." What's the reason?
K33 analysts have placed Grayscale in a leading role here. It was stated that Grayscale's Solana fund owns only 0.1% of the total SOL supply, therefore it is unlikely to see significant selling pressure if the ETF is approved.
It was stated that the fact that the Solana fund is traded openly, not closed, will not create a "ready-to-explode" selling pressure like in Bitcoin spot ETFs.
In Litecoin, however, the situation is quite the opposite. Grayscale's Litecoin fund holds 2.65% of the total LTC supply. This high ratio is expected to create selling pressure. The fund's tendency to trade at a discount, meaning its premium being negative, could also increase this selling pressure. Because investors may sell at full value to realize profits after the conversion to an ETF.
However, there are 8 spot ETF applications made for Solana. This situation may increase interest and the selling coin pressure could be absorbed. However, the 2 applications made for Litecoin may not withstand the sales. As a result, according to K33; the approval of ETFs could increase the number of "long" trades for Solana and "short" trades for Litecoin.
Published: June 18, 2025 15:22Last Updated: June 18, 2025 15:28