TL;DR

Fed eases crypto oversight; BlackRock, Brevan Howard ramp up ETH/BTC ETF buys; stablecoin supply surges.

Highlights

• Fed ends “Novel Activities” program, easing crypto oversight for banks and aligning with other U.S. regulators 1.
• SEC launches “Project Crypto” to implement White House digital-asset blueprint; most tokens likely not securities 2.
• BlackRock buys $2.3B in ETH , fueling record $2.9B week for U.S. spot Ethereum ETFs; institutional ETF volumes hit all-time highs 3.
• BitMine and SharpLink expand ETH treasuries to 1.3M and 728K ETH, respectively; both signal further accumulation 510.
• Brevan Howard discloses $2.3B stake in BlackRock ’s Bitcoin ETF, now its largest institutional holder; Wells Fargo and Abu Dhabi SWF also increase BTC ETF allocations 6.
• Tether mints $1B USDT on Ethereum ; combined USDT/USDC supply up $9.5B in a month, signaling strong stablecoin demand 4.
• Chainlink surpasses $93.5B secured across 452 DeFi protocols, partners with ICE for onchain FX/metals data 89.
• Solana opens vote on Alpenglow upgrade, targeting 150ms block finality; DeFi Development Corp adds 110K SOL 1113.
• Ronin Network to transition from L1 to Ethereum -aligned Layer 2 by mid-2026, expanding beyond gaming 12.
• Aave passes $3T in lifetime deposits; USDT /USDC borrowing rates spike, euro yields at 4.97% 15.
• Maple Finance ’s syrupUSDC deposits top $2B; launches new Pendle market, expands CCIP integrations 16.
• Coinbase flags 50% altcoin market cap surge since July; ETH ETF inflows outpace BTC , altcoin rotation possible 14.
• Moonbirds NFT floor up 305% on token speculation; $MRBEAST Solana token hits $7.5M market cap during charity campaign 1718.
• Bitcoin 200-day average tops $100,000; closes above $100K for 100 consecutive days 20.

Commentary

U.S. regulatory posture continues to ease, with the Fed ending its “Novel Activities” program 1 and the SEC launching “Project Crypto” to execute the White House’s digital-asset blueprint 2. The shift reduces compliance friction for banks and signals a coordinated move to treat most tokens outside securities law, while pushing stablecoin standards and sidelining a Fed CBDC 2. This regulatory clarity is likely to support further institutional entry and product development in both traditional finance and crypto-native firms 12.

Institutional flows remain robust. BlackRock ’s $2.3B ETH accumulation and record ETF inflows highlight growing demand for Ethereum , with public companies BitMine and SharpLink aggressively building ETH treasuries 3510. Brevan Howard ’s $2.3B Bitcoin ETF stake—now the largest among institutions—alongside increased allocations from Wells Fargo and Abu Dhabi’s sovereign fund, underscores continued mainstream interest in regulated BTC exposure 6. Tether’s $1B USDT mint and the $9.5B monthly stablecoin supply surge further point to strong on-chain liquidity needs 4.

On the infrastructure side, Chainlink ’s $93.5B in secured value and new ICE partnership reinforce its dominance in DeFi data and cross-chain settlement 89. Solana ’s Alpenglow upgrade proposal, if passed, would cut block finality to 150ms, boosting its appeal for latency-sensitive apps 11; treasury accumulation by DeFi Development Corp signals ecosystem confidence 13. Ronin ’s planned migration to Ethereum Layer 2 reflects a broader trend of leveraging Ethereum’s scaling and security 12.

DeFi and altcoins are seeing renewed activity: Aave ’s $3T deposit milestone comes with higher stablecoin borrowing rates, while Maple Finance expands stablecoin yield offerings and CCIP integrations 1516. Coinbase notes a 50% surge in altcoin market cap, driven by ETH ETF inflows and rising institutional demand 14. NFT and memecoin activity also picked up, with Moonbirds and $MRBEAST showing strong retail engagement 1718.

Traders should watch for further ETF inflows, treasury moves, and regulatory updates, especially around token classifications and altcoin ETF approvals 214. Elevated volatility and shifting liquidity conditions remain key risks, particularly as macro data and rate expectations continue to drive liquidations 14.