TL;DR

GENIUS Act signed; BlackRock seeks ETH ETF staking; Ether ETFs post record inflows, outpace Bitcoin.

Highlights

• Trump signed the GENIUS Act, establishing the first U.S. federal stablecoin rules with clear licensing and reserve requirements 1.
• U.S. House passed the GENIUS Act, CLARITY Act (crypto market structure), and an anti-CBDC bill; all advance to the Senate or White House 1617.
• BlackRock filed to add staking to its $7B Ethereum ETF ; SEC review ongoing alongside similar staking proposals 29.
• Ether ETFs saw a record $602M daily inflow, surpassing Bitcoin ETF flows for the first time 4.
• Ethereum traded above $3,600, market cap reached $430B, driven by ETF inflows and institutional accumulation 5.
• XRP hit an all-time high of $3.65 after ProShares XRP Futures ETF launch and Ripple’s stablecoin expansion 6.
• Total crypto market cap exceeded $4T; Bitcoin ’s realized cap crossed $1T, reflecting broad institutional participation 7.
• Charles Schwab to offer spot Bitcoin and Ethereum trading to 40 million clients within 12 months 3.
• SEC accelerated review of spot Solana ETF filings, requesting staking language; SOL could become third U.S. spot crypto ETF 9.
• Canary Capital filed for the first U.S. staked Injective ETF , targeting regulated yield-bearing products 10.
• Public companies increasing crypto treasury adoption: MEI Pharma ($100M to Litecoin ) 18, Bit Origin ($500M for Dogecoin ) 11, Blockstream’s BSTR SPAC with 30,021 BTC 12.
• SEC is considering an “innovation exemption” to ease asset tokenization rules for traditional financial assets 20.

Commentary

U.S. regulatory clarity advanced sharply this week with the signing of the GENIUS Act, the first federal law governing stablecoins 1, and the House passage of both the CLARITY Act and anti-CBDC legislation 1617. These moves establish a concrete framework for stablecoin issuers, set oversight responsibilities, and signal a more defined path for broader crypto market regulation. The regulatory environment is also evolving at the product level, with the SEC reviewing ETF staking proposals for Ethereum and Solana 29, and considering new exemptions to facilitate asset tokenization 20.

Institutional flows have responded to these developments, most notably with Ether ETFs posting record inflows and outpacing Bitcoin funds for the first time 4. Ethereum ’s price and market cap have surged on this demand 5, while XRP ’s new all-time high follows the launch of an XRP futures ETF and positive regulatory signals 69. The total crypto market capitalization crossing $4 trillion, and Bitcoin ’s realized cap exceeding $1 trillion, underscore the scale of institutional and retail participation 7.

Traditional finance continues to integrate crypto: Charles Schwab ’s upcoming spot BTC and ETH trading will bring direct crypto access to 40 million clients 3, while public companies are expanding treasury strategies to include Litecoin 18, Dogecoin 11, and large Bitcoin holdings 12. These moves reflect growing acceptance of crypto as a balance sheet asset and further blur the lines between digital and traditional finance.

Traders should monitor the SEC’s next steps on ETF staking 29, Solana ETF approvals 9, and the practical rollout of new stablecoin rules 1. Large-scale treasury moves and whale transactions, such as the $9.6B Bitcoin transfer to Galaxy Digital 8, remain key for short-term sentiment and liquidity. Overall, U.S. policy momentum and product innovation are likely to keep institutional flows and market volatility elevated in the near term.