The US crypto market has welcomed a new entrant as 21Shares rolls out its Spot Dogecoin ETF, giving investors another avenue to engage with the infamous dog-themed meme coin. Trading kicked off amid a mix of curiosity and caution, with on-chain data already showing how much the DOGE ETF has performed so far. 

21Shares Launches Dogecoin ETF

In a press release on Thursday, January 22, 21Shares announced the official launch of its Spot Dogecoin ETF, TDOG, which began trading on NASDAQ the same day. The new ETF provides investors with direct exposure to Dogecoin through a fully backed, regulated, and transparent vehicle. Each ETF share is also backed 1:1 by DOGE held in institutional-grade custody. 

Notably, the launch of the new TDOG ETF brings the total number of US Dogecoin ETFs to three, joining Grayscale’s GDOG and Bitwise’s BWOW. 21Shares is also the only ETF provider endorsed by House of Doge, the official corporate arm of the Dogecoin foundation, highlighting the global asset manager’s close ties to the meme coin. 

As one of the largest crypto ETF issuers, 21Shares continues to expand its crypto product lineup with the introduction of TDOG. This follows the investment company’s previous ETF offerings, including TSOL, a Solana ETF released in November 2025; ARKB, a Spot Bitcoin ETF launched in January 2024; and TETH, an Ethereum ETF introduced in July of the same year. Together, these products demonstrate 21Shares’ commitment to providing institutional-grade access to high-demand digital assets. 

Federick Brokate, Global Head of Business Development at 21Shares, highlighted DOGE’s large and active global community, calling it a unique digital asset with constantly growing use cases. He added that the new TDOG ETF will give investors regulated, physically backed exposure through a familiar ETF structure they know and trust. 

Marco Margiotta, the CEO of House of Doge, also shared comments on the recently launched 21Shares ETF. He said that TDOG is a step toward making Dogecoin easier to access through traditional financial systems. He also disclosed that House of Doge’s partnership with 21Shares will help more people get involved as the Dogecoin ecosystem grows. 

How 21Shares Dogecoin ETF Has Performed So Far

Contrary to expectations, 21Shares’ recently launched Dogecoin ETF saw weak performance on the first day of trading, signaling investors’ lack of interest in the investment product. Data from SoSoValue shows that TDOG experienced no inflows on January 22 and instead declined by about 0.07%. Despite it being the second day of trading, the DOGE ETF has still not registered any flows. 

This lackluster performance has been observed across all Dogecoin ETFs this week. Grayscales’ GDOG and Bitwise BWOW have reported zero inflows over the last week. The last time GDOG saw positive activity was on January 8, when it received around $333,083 in investments. Before that, the ETF recorded its highest inflows on January 2, totaling roughly $2.3 million. Since its launch in November 2025, GDOG ETF inflows have been unstable, with more days of inactivity than significant investment. 

Bitwise has introduced a new actively managed exchange-traded fund aimed at navigating currency risk through a mix of digital and physical assets. Bitwise has launched an actively managed ETF that combines Bitcoin and gold as a hedge against currency debasement.…

OpenAI has reportedly appointed Barret Zoph to lead its push into enterprise just a week after Zoph rejoined the company.

The five-year-old-startup powers OpenAI’s ChatGPT voice mode and raised a $100 million round led by Index Ventures.

The seed round values the newly formed startup at $800 million.

Bitwise’s take on the final months of 2025 reads like a careful, hopeful note rather than a loud market call. Momentum on the chains rose even as prices stalled, and that gap is exactly what has traders talking. Some think it marks a bottom. Others say it’s too soon to be sure.

Crypto: On-Chain Activity Surges

According to Bitwise, Ethereum activity and layer-two transactions climbed to new highs, and decentralized trading grew markedly. Stablecoin supplies also swelled, with the total market cap passing the $300 billion mark in Q4.

Reports note that decentralized exchange volumes at times matched or exceeded those of major centralized venues. These are hard numbers. They are signs that real use and liquidity are expanding under the surface.

The latest Bitwise Crypto Market Review just dropped—and it’s the most important one we’ve ever published.

Why? Because it shows a tension in crypto markets that has historically signaled a bear-market bottom (see Q1 2023).

Receipts: During Q4 2025…

– ETH’s price fell 29% ……

— Bitwise (@BitwiseInvest) January 21, 2026

Why Prices Have Lagged

Bitwise’s chief investment officer, Matt Hougan, compared this setup to early 2023 when prices trailed rising fundamentals before a significant rebound took hold over the following two years.

The comparison makes sense on paper. Price can be stubborn. Market psychology often lags behind on-chain realities, and traders sometimes wait for a clearer macro story before committing capital.

Fundstrat’s Tom Lee offers a counterpoint, saying the year could be bumpy until late, with tariffs and political tensions weighing on risk appetite. That view keeps many investors cautious.

Crypto, Stablecoins And DeFi At The Center

According to market data, flows into stablecoins accelerated, and fund inflows to crypto firms outpaced several other sectors in the stock market. DeFi use was no longer a niche metric; it was central to the Q4 narrative.

“That’s the type of divergence you get at the bottom of bear markets, when sentiment is down but fundamentals are up,” Hougan said.

Some infrastructure firms reported rising revenues. At the same time, trading volumes remained muted compared with the peaks seen earlier, which helps explain the mismatch between on-chain strength and sideways price action.

Why This Might Matter For 2026

Bitwise highlighted 10 broad indicators it sees as health signs for the market, ranging from transaction counts to custody and fee trends. Progress on regulatory clarity was also flagged.

Reports say the Clarity Act could change how stablecoins are treated in the US, and a new US Federal Reserve chair could shift policy in ways that matter for risk assets.

Bitwise sees Q4 as a quiet period where things were improving behind the scenes, even if prices didn’t show it. The firm says this kind of gap between price and activity has happened before big rebounds. It doesn’t mean a rally will happen right away, but the market could be setting itself up for a stronger year ahead.

Featured image from Unsplash, chart from TradingView

The fourth quarter of 2025 may have quietly signaled the end of the crypto bear market, according to a new report from digital asset manager Bitwise, even as prices struggled to reflect improving fundamentals.

In a report shared Wednesday, Bitwise chief investment officer Matt Hougan said Q4 presented a confusing picture for investors.

Crypto prices weakened through much of the quarter, yet on-chain data, user activity, and revenue metrics across the sector continued to strengthen.

Bitwise’s Hougan Draws Parallels Between Today’s Market and Post-FTX 2023

Hougan compared the current setup to early 2023, when markets were still reeling from the collapse of FTX.

At the time, crypto prices appeared directionless despite signs of recovery under the surface. Bitcoin rebounded from lows near $16,000 and ultimately surged to around $98,000 by the start of 2025.

“At the time, we were starting to rebound post-FTX, and the data was topsy-turvy; some up, some down, some sideways,” Hougan said. “In the two years that followed, crypto prices soared.”

According to Hougan, the same divergence between sentiment and fundamentals emerged again in late 2025. While asset prices pulled back, key indicators across the crypto economy moved sharply higher.

The latest Bitwise Crypto Market Review just dropped—and it’s the most important one we’ve ever published.

Why? Because it shows a tension in crypto markets that has historically signaled a bear-market bottom (see Q1 2023).

Receipts: During Q4 2025…

– ETH’s price fell 29% ……

— Bitwise (@BitwiseInvest) January 21, 2026

The outlook for 2026, however, remains a point of debate among analysts.

Fundstrat head of research Tom Lee has warned that macro headwinds, including trade tariffs and political uncertainty, could weigh on markets for much of the year before a late rebound.

By contrast, VanEck expects the first quarter of 2026 to favor “risk-on” assets such as crypto, citing greater fiscal clarity and signs of stabilization in the U.S. economy.

Hougan highlighted four trends from Q4 that he believes strengthen the case for a market bottom.

Ethereum and layer-2 networks saw transaction volumes climb to record levels, suggesting growing real-world usage.

At the same time, revenues among crypto-focused companies outpaced many traditional sectors in the stock market.

Stablecoin Market Hits Record $300B as Transaction Volumes Surge

Stablecoins also played a central role. Transaction volumes and assets under management surged throughout 2025, with total stablecoin market capitalization surpassing $300 billion in Q4, marking a new all-time high.

Decentralized finance adoption rounded out the list. Hougan pointed to Uniswap, noting that the decentralized exchange now consistently processes more transaction volume than Coinbase.

“That’s the kind of divergence you get at the bottom of bear markets, when sentiment is down but fundamentals are up,” he said.

Bitwise added that several potential catalysts could push crypto markets higher in 2026, including progress on the CLARITY Act, continued growth in stablecoins, a new Federal Reserve chair appointment, and major wirehouses opening client access to crypto exchange-traded funds.

The post Q4 2025 May Have Marked the End of Crypto Bear Market: Bitwise appeared first on Cryptonews.

From leadership changes at legacy semiconductor companies to wishy washy policy around chip exports, a lot happened last year.

Amagi shares debuted at a 12% discount, offering an early read on investor demand for a rare type of tech listing in India.

The combined business will serve more than 4,000 customers globally and surpass $100 million in annual revenue.

Last year was monumental for the AI industry in the U.S. and beyond. How will 2025 compare?

Adding a used hot tub to my backyard design was the best choice I made this year. There ... Read More

The post Hydrotherapy at Home: Using a Hot Tub for Chronic Pain appeared first on Garden Therapy.

The $400 million round was led by Dragoneer.

Perimeter security is obsolete. Modern cyberresilience demands zero-trust, continuous verification, and intelligent automation that detects and contains threats before damage occurs.

The post Inside the Rise of the Always Watching, Always Learning Enterprise Defense System  appeared first on Security Boulevard.

Bipartisan lawmakers are seeking to secure a 35% federal pay raise for correctional officers at the Bureau of Prisons, in an effort to address longstanding staffing shortages across the agency.

The Federal Correctional Officer Paycheck Protection Act, which both House and Senate lawmakers introduced this week, would implement a 35% increase to the base pay rates for BOP correctional officers in the 0007 job series, as well as certain correctional officers on various other government pay scales.

“Persistent and often dangerous staffing shortages at federal prisons nationwide cause safety concerns for BOP personnel and incarcerated individuals alike,” Sen. Jeanne Shaheen (D-N.H.), one of the bill’s original cosponsors, said in a statement. “Our bill will help to ensure that staff within our federal prisons are paid adequately for the critical work they do across this country.”

A bipartisan companion bill in the House comes from Reps. Rob Bresnahan (R-Pa.) and Dan Goldman (D-N.Y.), who said that pay rates for correctional officers fall short of other similar federal law enforcement personnel. In turn, that leads to low staffing levels, coupled with excessive use of overtime to try to compensate for the vacancies.

“This strains workforce morale, disrupts inmate programming and creates unsafe conditions inside Bureau of Prisons facilities,” Bresnahan said in a statement.

The new bill comes shortly after BOP correctional officers received a 3.8% federal pay raise, as part of President Donald Trump’s orders for a larger 2026 pay increase for certain law enforcement personnel.

The American Federation of Government Employees said it “appreciates” the 3.8% raise for law enforcement, including BOP correctional officers. But AFGE added that for the BOP, “the one-time pay bump simply isn’t enough to make up for decades of pay disparity.”

Brandy Moore White, national president of the AFGE Council of Prison Locals, expressed support for the new legislation.

“This reform is critical. It will align BOP compensation with federal law enforcement standards, stem the loss of experienced officers and attract qualified applicants in an increasingly competitive hiring market,” Moore White said in a statement. “Most importantly, it will help restore safe staffing levels across federal institutions, reduce violence, protect staff and ensure mission readiness.”

The introduction of the bill also comes shortly after BOP Director William K. Marshall III announced upcoming retention-based pay incentives for certain correctional officers and other BOP positions seeing consistent staffing shortages. The new pay incentives, which are expected to take effect in February, will give some agency employees a temporary pay boost between 5% and 25%, depending on their job position and geographic location.

For years, BOP has attempted to stave off poor recruitment and retention levels by using pay-based recruitment and retention incentives as a way to try to keep federal correctional officers in their jobs. But because the pay incentives are a temporary fix, many have advocated for a larger and permanent federal pay raise for the BOP workforce.

A Justice Department Office of Inspector General report from February 2024 said the BOP workforce uses excessive overtime hours and staff “augmentation” to try to compensate for persistent understaffing. But the OIG wrote that those factors “overburdened existing staff and potentially contributed to staff fatigue, sleep deprivation, decreased vigilance and inattentiveness to duty.”

Recent federal workforce data also shows that BOP correctional officers’ attrition levels over the last year have resulted in 1,700 officers leaving their jobs, including more than 1,100 correctional officers who have either quit or retired since January 2025. Over the same time period, the agency had about 1,200 new officers join the ranks, resulting in a net loss of nearly 500 correctional officers over the last year.

Under the new legislation, the 35% pay increase would initially last for five years. Within the last six months of that timeframe, the bill would require the Justice Department OIG to assess the progress BOP has made toward improving recruitment and retention levels, as well as reducing overtime hours and staff augmentation. If that OIG assessment shows BOP has made progress as a result of the federal pay raise, the 35% salary boost would remain in place.

The post Bipartisan lawmakers propose 35% federal pay raise for Bureau of Prisons officers first appeared on Federal News Network.

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The U.S. struck a trade deal with Taiwan as the country looks to help boost domestic semiconductor manufacturing.

On Thursday, the Wikimedia Foundation announced API access deals with Microsoft, Meta, Amazon, Perplexity, and Mistral AI, expanding its effort to get major tech companies to pay for high-volume API access to Wikipedia content, which these companies use to train AI models like Microsoft Copilot and ChatGPT.

The deals mean that most major AI developers have now signed on to the foundation's Wikimedia Enterprise program, a commercial subsidiary that sells high-speed API access to Wikipedia's 65 million articles at higher speeds and volumes than the free public APIs provide. Wikipedia's content remains freely available under a Creative Commons license, but the Enterprise program charges for faster, higher-volume access to the data. The foundation did not disclose the financial terms of the deals.

The new partners join Google, which signed a deal with Wikimedia Enterprise in 2022, as well as smaller companies like Ecosia, Nomic, Pleias, ProRata, and Reef Media. The revenue helps offset infrastructure costs for the nonprofit, which otherwise relies on small public donations while watching its content become a staple of training data for AI models.

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As companies deploy AI-powered chatbots, agents, and copilots across their operations, they’re facing a new risk: how do you let employees and AI agents use powerful AI tools without accidentally leaking sensitive data, violating compliance rules, or opening the door to prompt-based injections? Witness AI just raised $58 million to find a solution, building what they call “the […]

A new investigation by GreyNoise reveals a massive wave of over 90,000 attacks targeting AI tools like Ollama and OpenAI. Experts warn that hackers are conducting "reconnaissance" to map out vulnerabilities in enterprise AI systems.

While a senator presses the Securities and Exchange Commission (SEC) against Bitcoin (BTC) and other cryptocurrencies in 401(k) plans, Bitwise’s CEO has defended the Trump administration’s push to allow digital assets’ inclusion in retirement funds.

Hougan Slams Bitcoin Restrictions In 401(k)s

On Monday, Bitwise CIO Matt Hougan discussed whether 2026 will be the year investors can own Bitcoin and other cryptocurrencies in 401(k) plans, as the inclusion of digital assets is becoming more common in individual retirement accounts (IRAs).

In an interview, the executive argued that providers are “slow to move,” but noted that the Trump administration’s pro-crypto shift, which removed “what was effectively a ban on Bitcoin from 401(k)s,” has opened the doors.

Hougan pointed out that large firms like Vanguard had strong restrictions but have recently relaxed their stance on Bitcoin investments. He argued that these bans are “ridiculous,” calling BTC “just another asset” that is no more volatile than stocks, such as those of Nvidia.

Does it go up and down? Absolutely. Is there risk in it? Absolutely. But it’s actually less volatile over the last year than Nvidia stock. And you don’t see any rules about banning 401k providers from offering Nvidia stock. That’s not that would seem ridiculous.

Recent K33 Research data showed that Bitcoin recorded the least volatile year in the asset’s history in 2025. Notably, BTC registered its lowest volatility level last year, with just 2.24%.

“So, I don’t know if the 401(k) providers will get all the way to the point of actually putting it in this year. These are very slow moving institutions, but we’re moving in that direction and eventually it’ll be normalized like other assets, which is how it should be treated,” he concluded.

Senator Warren Issues New Warning

Bitwise CEO’s remarks came as Democratic Senator Elizabeth Warren reached out directly to SEC chairman Paul Atkins to question how the Commission intends to protect investors from potential financial risks now that crypto investments are allowed in retirement plans.

As reported by Bitcoinist, the Department of Labor (DOL) rescinded in May a 2022 guidance that discouraged fiduciaries from including cryptocurrency investments in 401(k) retirement plans.

Months later, US President Donald Trump signed an Executive Order (EO) that aimed to allow more private equity, real estate, cryptocurrency, and other alternative assets in 401(k) retirement accounts.

The EO, signed on August 7, 2025, directed the DOL and the SEC to reduce regulatory barriers that prohibited investments in alternative assets in their defined contribution retirement plans.

In a new letter, the anti-crypto senator shared her concerns, cautioning that allowing Bitcoin and other crypto assets into these accounts could enable significant risks. She listed the “volatility associated with cryptocurrencies, the lack of market transparency, and potential conflicts of interest” as reasons to be cautious about introducing these assets into retirement plans.

She also emphasized that 401(k) plans are a vital source of retirement security for most Americans. Therefore, they should not be treated as a “playground for financial risk” that could put investors in vulnerable positions.

Despite Warren’s warnings, multiple US lawmakers have supported the Trump Administration’s efforts. In September, nine House members asked Atkins to provide “swift assistance” in implementing the president’s executive order and work with the DOL to protect workers.

Later, House of Representatives member Troy Downing proposed a bill to codify Trump’s directive, giving “the force and effect of law” and making it easier for investors to access Bitcoin and other alternative assets in their 401(k) retirement plans.