President Donald Trump has announced the creation of a U.S. Crypto Strategic Reserve, which will include five major cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA).

This initiative aims to position the United States as a leader in the digital asset space.

Following the announcement, the cryptocurrency market experienced significant gains:

• Bitcoin (BTC): Increased by approximately 8% to $90,828.
• Ethereum (ETH): Rose by 8.3% to $2,409.
• XRP: Surged over 30% to $2.86.
• Solana (SOL): Jumped by 19% to over $160.
• Cardano (ADA): Experienced a 63% rise to $1.04.

The establishment of this reserve is part of Trump's broader strategy to bolster the U.S. cryptocurrency industry, contrasting with the previous administration's stricter regulatory stance. The specifics of how the reserve will be implemented remain under discussion, with debates on whether it requires congressional approval or can be established through the U.S. Treasury's Exchange Stabilization Fund.

Additionally, Trump is set to host the first White House Crypto Summit on Friday, further emphasizing his administration's commitment to supporting the cryptocurrency sector.