TL;DR

IRS gains Coinbase user data; MicroStrategy buys $532M BTC; Robinhood, Solana, ETFs drive inflows.

Highlights

• US Supreme Court lets IRS access Coinbase user records, reinforcing tax enforcement on crypto transactions 1.
• MicroStrategy buys $532M in Bitcoin , now eligible for S&P 500 inclusion; stock added to major indexes 2.
• Kazakhstan’s central bank plans to add Bitcoin and crypto to its strategic reserves 3.
• SEC formally reviews Grayscale’s bid for the first US multi-asset spot crypto ETF (BTC , ETH , XRP , SOL , ADA ) 4.
• Circle applies for a US trust bank charter to directly custody USDC reserves and comply with federal stablecoin rules 5.
• White House backs Senate amendment to exempt small Bitcoin payments from capital gains tax and ease staking/mining tax; Senate vote pending 6.
• Robinhood launches tokenized US stock trading and perpetual crypto futures in the EU, unveils Ethereum Layer 2 (Robinhood Chain), and starts Ether /Solana staking for US users; shares hit record highs 72011.
• REX-Osprey’s Solana Staking ETF to launch July 2, offering US investors on-chain staking yield exposure 8.
• Solana crosses $165 with over $100M in weekly cross-chain inflows and leads in network revenue 9.
• Crypto funds see $2.7B in inflows last week, extending an 11-week streak; spot BTC /ETH ETFs outpace new supply 1415.
• BitMine raises $250M to build an Ethereum treasury; Fundstrat’s Thomas Lee named chairman 10.
• BNB Chain’s Maxwell hard fork halves block times, drives record $165B June DEX volume 17.
• Chainlink launches Automated Compliance Engine for onchain regulatory monitoring of tokenized assets 18.
• Germany’s Sparkassen group to offer Bitcoin trading to 50M retail clients in 2026 16.

Commentary

US regulatory activity remains in focus. The Supreme Court’s refusal to hear the Coinbase privacy challenge solidifies the IRS’s authority to access user data, signaling heightened tax scrutiny for US-based crypto traders and exchanges 1. Meanwhile, Circle ’s trust bank application and the pending Senate vote on crypto tax reform (including de minimis exemptions for small payments and staking/mining rewards) point to a more defined, though stricter, compliance landscape for stablecoins and DeFi participants 56. Traders should be alert to the Senate outcome, as it could materially affect US retail adoption and reporting requirements 6.

Institutional flows continue to drive markets. MicroStrategy ’s $532M Bitcoin purchase and S&P 500 eligibility, along with BitMine’s $250M Ethereum treasury raise and Kazakhstan’s reserve plans, underscore growing corporate and sovereign interest in direct crypto holdings 2103. Crypto investment funds attracted $2.7B last week, with spot Bitcoin and Ethereum ETFs sustaining inflows well above new coin issuance, reinforcing the narrative of persistent institutional demand 1415. Germany’s Sparkassen move to offer Bitcoin trading to 50 million clients from 2026 is a notable signal of mainstream retail integration in Europe 16.

Product and infrastructure innovation is accelerating. Robinhood ’s launch of tokenized US stocks and perpetual crypto futures in the EU, Ether /Solana staking for US users, and the unveiling of its own Ethereum Layer 2 (Robinhood Chain) mark a major expansion of on-chain financial services, with immediate market impact as reflected in the company’s record share price 71120. The SEC’s review of Grayscale’s multi-asset spot ETF and the imminent launch of the first US Solana Staking ETF could catalyze further product diversification and inflows, particularly into altcoins and staking-enabled assets 48.

On-chain activity is robust. Solana ’s price strength is supported by $100M+ in cross-chain inflows and sustained network revenues 9. BNB Chain’s Maxwell upgrade has slashed block times and driven record DEX volumes 17. Chainlink ’s Automated Compliance Engine targets institutional adoption by enabling real-time regulatory monitoring for tokenized assets, a potential enabler for the next phase of on-chain finance 18.