TL;DR

US advances crypto/stablecoin bills; BlackRock seeks ETF staking; Ethereum ETFs see record inflows.

Highlights

• US House passed the Digital Asset Market Clarity Act and the GENIUS Act, advancing federal crypto and stablecoin regulation; GENIUS Act awaits President Trump’s signature 1.
• President Trump plans executive order to allow 401(k) retirement plans to invest in crypto and alternative assets 17.
• BlackRock requested SEC approval to enable staking in its $7B iShares Ethereum ETF (ETHA ); decision could set precedent for US crypto ETFs 2.
• US spot Ethereum ETFs saw record $727M in single-day inflows, led by BlackRock ; total ether ETF AUM now ~$16B 3.
• Tether minted $3B in new USDT in 24 hours amid large exchange flows; USDC supply also expanded by $639M 4.
• Altcoins rallied: XRP neared record highs, Dogecoin broke $0.20, Solana and Cardano posted strong gains; Bitcoin dominance fell to 61.5% 5.
• Solana crossed $175 as tokenized asset volume jumped 218% YTD; Ethereum remains the largest tokenization platform 6.
• Coinbase market cap topped $100B as shares hit all-time highs, tracking Bitcoin ’s rally above $122K 14.
• BlackRock ’s Bitcoin ETF (IBIT) reached $83B AUM, now the firm’s most profitable ETF 15.
• Bank of America confirmed plans for a dollar-backed stablecoin, joining other major US banks in digital asset initiatives 9.
• Large TRUMP memecoin unlock approaches as Trump’s crypto holdings reach $620M; political scrutiny over consumer protection intensifies 20.
• Coinbase rebranded its wallet as “Base App,” launching a faster, multipurpose crypto platform on its Layer-2 network 19.

Commentary

US crypto policy is entering a new phase as the House advances landmark market structure and stablecoin bills, with the GENIUS Act set for presidential sign-off and the Clarity Act moving to the Senate 1. These measures, combined with a pending executive order to allow 401(k) plans to access crypto, signal a major regulatory shift and could open new institutional capital channels 17. The legislative momentum is mirrored by Wall Street’s activity, with Bank of America joining other large banks in preparing stablecoin offerings as federal oversight takes shape 9.

Institutional demand for crypto exposure is robust. US-listed Ethereum ETFs posted record inflows, with BlackRock ’s ETHA leading and total ether ETF assets climbing to $16B 3. BlackRock ’s SEC filing to enable staking in its Ethereum ETF could reshape ETF economics by adding on-chain yield, intensifying competition and potentially attracting more yield-seeking investors 2. Bitcoin ETFs remain strong, with BlackRock ’s IBIT now the firm’s most profitable ETF at $83B AUM 15.

Market rotation into altcoins is accelerating. XRP, Dogecoin , Solana , and Cardano all outperformed, reducing Bitcoin ’s market dominance and lifting altcoin capitalization 5. Solana ’s rally is supported by a sharp rise in tokenized real-world assets and network throughput, while Ethereum maintains its lead in tokenization and DeFi activity 6. Meanwhile, stablecoin supply is expanding rapidly, with Tether and USDC both minting billions in new tokens, reflecting heightened trading and liquidity demand 4.

On the infrastructure front, Coinbase ’s rebranded “Base App” and Layer-2 upgrades aim to lower user friction and broaden crypto’s appeal, integrating payments, trading, and social features 19. Traders should monitor ongoing US regulatory developments, ETF inflows, stablecoin issuance, and large token unlocks for potential volatility and market repricing, especially as institutional and retail interest continues to build 20.