TL;DR

Bitcoin tops $110K on ETF demand; ETH, SOL ETFs see inflows; stablecoin, DeFi, altcoins active.

Highlights

• • Bitcoin broke above $110,000, liquidating over $200M in shorts as ETF inflows and Fed rate expectations supported the move 1.
• BlackRock ’s spot Bitcoin ETF (IBIT ) reached $70B AUM in 341 days, far outpacing gold ETFs 2.
• MicroStrategy now holds 582,000 BTC (1% of supply), funded by $STRK/$STRF sales; treasury firms could raise $76B for further BTC buys 3.
• GameStop acquired 4,710 BTC (~$500M), raising its cash and crypto reserves 4.
• U.S. spot Ethereum ETFs logged a 16-day inflow streak ($890M+), as BlackRock and Metalpha made large ETH buys and DeFi lending moves 1314.
• SEC requested updated filings for spot Solana ETFs, with possible approval in 3–5 weeks, focusing on staking and in-kind redemptions 5.
• Societe Generale launched a USD stablecoin (USDCV) on Ethereum and Solana , with BNY Mellon as custodian, compliant with MiCA 7.
• U.S. Senate to vote this week on the bipartisan GENIUS Act stablecoin bill; Circle ’s IPO and ETF filings highlight stablecoin sector 610.
• Circle ’s IPO surged 347% post-listing, raising $1.1B; institutional demand strong, with ETF and options activity 10.
• South Korea introduced the Digital Asset Basic Act, enabling banks to adopt crypto and stablecoins under new regulatory oversight 12.
• Cetus Protocol on Sui relaunched after a $233M exploit, restoring 85–99% of liquidity, with compensation and security upgrades 8.
• Meme and altcoins active: $PEPE surpassed $5B market cap and DOGE volume; $ANIME led Upbit volumes in Korea; HYPE hit $41.50 ATH with Hyperliquid ecosystem growth 181920.
• Bitcoin Core v30 will raise OP_RETURN limit to 4MB in October, sparking debate on non-financial data and network policy 11.
• Cyble identified 20+ malicious crypto wallet apps on Google Play and a supply chain attack on 16 NPM packages (950K downloads) 17.

Commentary

Bitcoin ’s rally above $110,000 was driven by strong spot demand and ETF inflows, with over $200 million in short liquidations accelerating the move 1. Institutional allocation remains a key theme: BlackRock ’s IBIT is absorbing BTC at a record pace 2, and MicroStrategy ’s accumulation—now 1% of total supply—underscores ongoing corporate treasury demand 3. GameStop ’s $500M BTC purchase further signals mainstream balance sheet adoption 4. These flows, combined with shrinking exchange balances, continue to tighten available supply and increase price sensitivity to new demand 13.

Ethereum is seeing renewed institutional interest, as evidenced by a 16-day inflow streak into U.S. spot ETFs and direct accumulation by BlackRock and Metalpha 1314. The SEC’s request for updated Solana ETF filings, with a focus on staking, could open the door for U.S.-listed SOL products within weeks, potentially expanding institutional flows to alternative Layer 1s 5. Societe Generale ’s launch of a USD stablecoin on Ethereum and Solana , with BNY Mellon as custodian and MiCA compliance, adds a regulated option for on-chain settlement and payments, reinforcing the trend of TradFi-crypto integration 7.

Regulatory momentum is notable: the U.S. Senate’s GENIUS Act stablecoin bill is up for a vote 6, and Circle ’s IPO performance—plus ETF filings for its stock—reflects growing institutional acceptance of stablecoin issuers 10. South Korea’s Digital Asset Basic Act paves the way for bank adoption of crypto and stablecoins, signaling broader regulatory harmonization in Asia 12.

In DeFi, Cetus Protocol’s post-exploit relaunch on Sui, with most liquidity restored and compensation plans in place, highlights both the risks and resilience of decentralized exchanges 8. Meme and altcoins remain active, with $PEPE, $ANIME, and HYPE all seeing significant trading activity and price gains, particularly in Asia 181920. Protocol and security risks persist, as shown by ongoing wallet app and supply chain attacks 17.

Traders should monitor ETF flows, Solana ETF approval timelines, and regulatory headlines from the U.S. and Asia. Security remains a concern—vet wallet apps and dependencies carefully 17. Expect volatility to remain elevated as institutional and retail flows continue to rotate across majors, altcoins, and DeFi.