Summary
gm, Goldman Sachs and BNY Mellon announced plans to launch tokenized money market funds, enabling 24/7 settlement and blockchain-based ownership tracking for institutional investors. The regulatory landscape is evolving as Republican senators introduced a draft bill to establish a digital asset market structure, building on the CLARITY Act recently passed in the House. Meanwhile, Block (formerly Square) has joined the S&P 500, bringing more Bitcoin exposure to traditional equities, while also beginning to roll out Bitcoin payments for merchants using Lightning Network technology. In the markets, altcoin volatility has increased, with XRP dropping over 12% after recently reaching an all-time high, while Ethereum ETFs continued their strong performance with $533 million in daily inflows, extending their streak to over $4 billion since early July.

News Headlines
🚀 Boom in RWA tokenization expected after passing of GENIUS Act

  • Real-world asset (RWA) tokenization is gaining momentum following the GENIUS Act's passage, which establishes a regulatory framework for the $260 billion stablecoin market.
  • Nearly 60% of the current tokenized asset market is in private credit, with tokenized U.S. Treasuries comprising 28%, while Aptos has become a focal point for RWA activity with over $540 million in tokenized assets.

💰 WisdomTree's USDW stablecoin to pay dividends on tokenized assets

  • WisdomTree has launched its USDW stablecoin following the GENIUS Act's enactment, designed for both retail and institutional users to facilitate digital dollar movements and support tokenized investment products.
  • Investors in eligible assets will receive dividends in USDW, with options for reinvestment, operating on the Stellar blockchain with plans to expand to more blockchains.

👾 NFT Trading Volume Rebounds with CryptoPunks Leading the Way

  • NFT trading volume has surged, with Ethereum's ecosystem reaching $26 million over the weekend, driven largely by CryptoPunks which accounted for over half that volume.
  • CryptoPunks' floor price increased 20% in just a week to 48 ETH (approximately $177,000), while other collections like Mad Lads on Solana have also seen significant floor price rises.

🌟 Solana SSK ETF breaks $100M as Wall Street warms to crypto staking

  • The Solana SSK ETF, combining spot Solana exposure with on-chain staking rewards, surpassed $100 million in assets under management within 12 trading days of its July 2 debut.
  • Unlike typical crypto ETFs, SSK operates under the Investment Company Act, allowing it to pay staking distributions as dividends, providing mainstream investors access to Solana staking in a familiar format.

🚀 Dan Tapiero Projects Crypto Economy Hitting $50T, Launches $500M Fund Under New Firm

  • Dan Tapiero has rebranded his private equity firms into 50T, predicting the digital asset market will grow to $50 trillion within the next decade, a significant increase from his earlier $10 trillion forecast.
  • Alongside the rebranding, 50T is launching a $500 million growth equity fund targeting later-stage blockchain and Web3 companies, with the first close anticipated in Q4 2025.

Market Metrics

Fundraising & VC
1. Capital B (Undisclosed, $12.05M) - Euronext-listed Bitcoin Treasury Company
2. DSRV (Series B, $11.6M) - Seoul-based blockchain infrastructure company

Regulatory
🚫 Bank of England May Abandon Digital Pound Plans

  • The Bank of England is considering abandoning its plans for a central bank digital currency due to growing skepticism about its necessity and benefits.
  • Governor Andrew Bailey expressed preference for private payment innovations and requires substantial evidence to support introducing a state-backed digital currency.

📜 CoinShares Secures MiCA License in France

  • CoinShares has obtained a license under the Markets in Crypto-Assets (MiCA) regulatory framework via its French subsidiary, becoming the first regulated asset management company in continental Europe qualified under MiCA.
  • With this license, CoinShares can now manage portfolios and offer advice on crypto assets across various EU jurisdictions.

🚨 New Zealand Bans Crypto ATMs Nationwide

  • New Zealand's government has banned all cryptocurrency ATMs as part of reforms to its anti-money laundering and counter-terrorism financing regime.
  • The ban was justified by evidence showing these machines had become tools for organized crime, facilitating illicit activities like drug trafficking and scams.

⚖️ Appeals Court Overturns Yuga Labs' $9M NFT Trademark Win

  • A US Appeals Court has reversed a $9 million judgment awarded to Yuga Labs in its trademark infringement case against artist Ryder Ripps.
  • The court ruled Yuga Labs failed to sufficiently prove that Ripps' NFT collection was likely to cause consumer confusion with Yuga's Bored Ape Yacht Club.

🌏 South Korea Warns Asset Managers About Crypto Exposure

  • South Korea's Financial Supervisory Service has advised local asset managers to avoid excessive exposure to crypto firms and limit investments in companies like Coinbase.
  • The recommendation comes amid rising allocations in South Korean ETFs to crypto-related stocks, with notable percentages invested in Coinbase across multiple funds.

Technical Analysis
Bitcoin - Bitcoin shows strong development within a rising trend channel in the short term. This signals increasing optimism among investors and indicates continued rise. The price has risen strongly since the positive signal from the rectangle formation at the break through resistance at 107710. The objective at 115727 is now met, but the formation still gives a signal in the same direction. The currency is testing support at points 118000. This could give a positive reaction, but a downward breakthrough of points 118000 means a negative signal. The currency is overall assessed as technically positive for the short term.

Ethereum - Ethereum has broken through the floor of a rising trend channel in the short term. This indicates a slower rising rate at first, or the start of a more horizontal development. There is no resistance in the price chart and further rise is indicated. In case of a negative reaction, the currency has support at approximately 2780 points. Positive volume balance indicates that buyers are aggressive while sellers are passive, and strengthens the currency. RSI above 70 shows that the currency has strong positive momentum in the short term. Investors have steadily paid more to buy the currency, which indicates increasing optimism and that the price will continue to rise. However, particularly for big stocks, high RSI may be a sign that the stock is overbought and that there is a chance of a reaction downwards. The currency is overall assessed as technically positive for the short term.