Crypto Assets Industry Trends and News Overview

Macroeconomic Policy

SBI Holdings clarified that it has not yet submitted an application for a Crypto Assets ETF. The company stated that the relevant plans are still in the preliminary stages and will apply after the Japanese financial regulatory agency completes legal revisions. The future application will be submitted by its subsidiary SBI Global Asset Management, with the initial target being individual investors.

The U.S. SEC and Ripple Labs have ended their legal dispute, with both sides abandoning appeals. Judge Torres's mixed ruling in 2023 will become the final decision, determining that Ripple's sale of XRP to institutional investors constitutes illegal securities sales, but supporting its sales to retail investors.

Trump signed an executive order to prevent regulatory agencies from targeting financial institutions that do business with the Crypto Assets industry. The order removes "reputational risk" as a reason for regulatory enhancement, aiming to terminate "Operation Choke Point 2.0".

Animoca Brands, Standard Chartered Bank, and Hong Kong Telecommunications have established a joint venture called Anchorpoint in Hong Kong, with plans to apply for a license for the issuance of stablecoins in Hong Kong.

Trump nominated pro-Crypto Assets economist Stephen Miran to serve on the Federal Reserve Board of Governors, with a term ending on January 31, 2026. Miran had previously proposed simplifying Crypto Assets regulation.

Market Analysis

Matrixport report analysis indicates that Bitcoin has entered an adjustment phase, with market momentum weakening. The $112,000 support level may face another test, and if it fails, it could drop to the $106,000 range. The report suggests that the repricing of U.S. economic growth expectations may be a key factor for the increase in Bitcoin volatility.

CryptoQuant reports that Bitcoin has entered a cooling period in the bull market, with upward momentum weakening. Multiple on-chain indicators confirm the decline of upward momentum, stablecoin liquidity stagnation, and a depletion of new capital inflows. If Bitcoin continues to weaken, the bull market index may fall below 40, signaling a bearish outlook.

Project Updates

Base announced the launch of a creator content revenue-sharing mechanism in its app, allowing creators to earn income when users interact with their content.

The pSTAKE Foundation has launched a $50 million AI-Web3 Innovation Fund, which is now open for applications. It focuses on five key areas, including decentralized generative agents, on-chain provenance, AI asset markets, and more.

The Ethereum Foundation will donate an additional $500,000 for the legal defense of Tornado Cash founder Roman Storm.

Animoca Brands and ProvLabs have jointly launched the RWA trading platform NUVA, which will utilize the existing RWA ecosystem of the Provenance blockchain.

Sygnum announces the provision of services such as custody, trading, and staking of SUI coin for institutional users.

The ResearchHub Foundation has proposed the introduction of an RSC token burn mechanism, which will automatically burn all transaction fees if approved.

Data

A certain whale/institution has accumulated over 170,000 ETH through 6 addresses in the past 4 days, equivalent to approximately $670 million.

The total net inflow of Ethereum spot ETFs yesterday was $222 million, continuing a net inflow for 3 days. BlackRock ETF ETHA had a net inflow of $104 million in a single day.

The total net inflow of Bitcoin spot ETFs yesterday was $281 million, with BlackRock's IBIT leading the way with a net inflow of $157 million.

A Pendle multi-signature wallet transferred 900,000 PENDLE worth approximately 4.65 million USD to Binance.

The giant whale @AguilaTrades has increased its long position to $223 million, currently with an unrealized profit of $4.76 million.

Financing

The derivatives trading application Euphoria based on MegaETH has completed a $7.5 million seed round of financing, led by Karatage.

Web3 AI project Perle completes $9 million seed round financing, led by Framework Ventures.

Scenius Capital completes a $20 million fundraising for a new fund, focusing on supporting emerging Crypto Assets VCs.

Institutional Holdings

Bitcoin treasury company BSTR completed a $65 million financing and plans to hold over 30,000 BTC after the merger.

The publicly listed company Sharplink Gaming has increased its holdings of ETH again, raising its position to 568,000 coins, worth $2.215 billion.

Fundamental Global plans to issue up to $5 billion in securities to acquire more Ethereum.

Block increased its holdings by 108 coins of Bitcoin in Q2, raising its position to 8692 coins.

The listed company Oblong announced that it has pledged $8 million in Bittensor (TAO) tokens.