TL;DR

Tether mints $7B USDT; ETH ETFs lead inflows, surpass $16.6B AUM; major corporate BTC/ETH accumulation.

Highlights

• Tether minted $2B USDT , bringing July issuance to $7B; plans U.S. re-entry post-GENIUS Act.15
• Goldman Sachs and BNY Mellon launched a tokenized money-market fund platform for institutional clients.2
• BlackRock’s Ethereum ETF (ETHA ) surpassed $10B AUM; Ethereum ETFs now total $16.6B, outpacing Bitcoin funds in inflows.314
• U.S. spot Bitcoin ETFs saw net outflows, while Ethereum ETFs absorbed $508M in a single day.14
• MicroStrategy upsized its “Stretch” IPO to $2B to buy more Bitcoin ; Marathon Digital and MARA announced $850M note offerings for Bitcoin and operations.79
• Bitmine Immersion filed for a $2.5B stock sale to expand its Ether holdings, targeting up to 5% of ETH supply.11
• Ripple co-founder Chris Larsen moved $175M in XRP , with $140M sent to exchanges, coinciding with a 19% XRP price drop and $113M in liquidations.8
• StablecoinX raised $360M (including $60M from Ethena), plans Nasdaq listing as “USDE,” and will issue a GENIUS Act-compliant stablecoin via Anchorage.10
• Infini protocol hacker sold $16M in ETH post-$49.5M theft, laundering via Tornado Cash and stablecoin swaps; large token transfers observed across major exchanges.6
• Zora’s “creator coin” feature drove an 80% rally in its token, highlighting renewed interest in on-chain social apps.12
• GameSquare acquired a $5.15M CryptoPunk NFT and added $10M in ETH to its treasury, signaling institutional NFT and ETH accumulation.16
• Tron Inc. debuted on Nasdaq; Aspecta AI’s ASP token launched on KuCoin and Upbit with initial volatility.2017

Commentary

Stablecoins and tokenized assets are in focus, with Tether’s $7B July issuance and plans to re-enter the U.S. market following the GENIUS Act.15 The regulatory shift is already driving action: StablecoinX’s $360M raise and Anchorage/Ethena’s GENIUS Act-compliant USDtb launch point to a competitive U.S. stablecoin landscape.10 Goldman Sachs and BNY Mellon’s tokenized money-market fund platform signals further institutional adoption of blockchain rails for traditional assets.2

Ethereum continues to attract institutional inflows. BlackRock’s ETH ETF (ETHA ) crossed $10B AUM, and Ethereum ETFs now lead in net inflows, while Bitcoin ETFs saw outflows.314 Bitmine Immersion’s $2.5B stock sale to accumulate ETH , and GameSquare’s ETH and NFT treasury moves, reinforce the demand-supply imbalance narrative.1116 Meanwhile, MicroStrategy and Marathon Digital are raising fresh capital to buy more Bitcoin , underscoring ongoing corporate accumulation despite short-term ETF outflows.79

Altcoin and DeFi volatility remains high. XRP ’s 19% drop and $113M in liquidations followed large transfers by Ripple co-founder Larsen and scam warnings.8 Zora’s new creator coin feature sparked an 80% rally in its token, while Aspecta AI’s ASP saw initial volatility post-airdrop.1217 The Infini protocol hack and subsequent laundering activity highlight ongoing security and liquidity risks, with large token transfers across exchanges adding to market churn.6

Traders should monitor regulatory developments, especially the upcoming U.S. crypto policy report, and watch for continued divergence in ETF flows and stablecoin supply trends.4 Large treasury transactions, hack-related flows, and token launches remain key sources of volatility across spot and derivatives markets.