Quick Take

• US spot bitcoin and ether ETFs set a record volume of US$39.3 billion; Crypto.com will provide custodial services to VivoPower and Aditxt; US Treasury Secretary clarified the department is committed to exploring budget-neutral ways to acquire more BTC
• US spot BTC ETFs had a net inflow of $548 million last week compared to $253 million the week before. Spot ETH ETFs saw a net inflow of $2.9 billion in the same period, the largest weekly inflow since the ETFs launched.
• On the macro side, the US Consumer Price Index increased 2.7% annually in July, slightly below the 2.8% Dow Jones estimate. The Producer Price Index increased 0.9% in July, the biggest monthly growth since July 2022, and higher than the 0.2% Dow Jones estimate. The latest CME FedWatch Tool showed an 85% probability of a rate cut in September, compared to 88% the week before. The Reserve Bank of Australia reduced interest rates by 0.25% to 3.60%. 
• Notable updates: Chainlink partnered with Intercontinental Exchange (ICE); Voting for VeChain's Hayabusa upgrade is expected to occur on 18 August; the Crypto.com App listed Snek (SNEK) and Succinct (PROVE). 
• Notable events in the coming week: US FOMC Minutes, S&P Global Manufacturing & Services PMI, Fed Chair Powell Speech, Reserve Bank of New Zealand Interest Rate Decision

Weekly Market Index

Price, volume, and volatility indices were up by +1.52%, +36.22%, and +7.73%, respectively, last week. 

Most tokens in the index increased in price last week. BTC reached an all-time high above $124,000 on 14 August, supported by the cooler-than-expected increase in the Consumer Price Index. 

However, prices retraced towards the end of the week, which coincided with US Producer Price Index data coming in much higher than expected, potentially suggesting threats of inflation.

ADA led the increase in price (+24.41%) and volume (+186.61%), which coincided with Grayscale registering its Grayscale Cardano Trust ETF entity in Delaware, potentially paving the way for an upcoming Securities and Exchange Commission (SEC) S-1 filing. 

Chart of the Week

US spot BTC and ETH ETFs set a record volume of $39.3 billion last week, the largest combined trading volume since the ETFs launched. This growth is attributed to a sharp increase in investor interest in Ether, with spot Ether ETFs recording their biggest day of net inflows of $1 billion on 11 August and the highest weekly inflow since inception of $2.9 billion. At the same time, ETH ETFs witnessed the highest weekly trading volume of $18 billion last week. This came as BTC reached an all-time high above $124,000 and ETH reached above $4,700 on 14 August.  

Weekly Performance

Most top-cap tokens increased in price last week, led by ADA and LINK. BTC and ETH increased by -1.1% and +6.0%, respectively. 

ADA’s increase coincided with Grayscale registering its Grayscale Cardano Trust ETF entity in Delaware, potentially paving the way for an upcoming SEC S-1 filing. LINK’s increase followed a strategic partnership with Intercontinental Exchange, the parent company of the New York Stock Exchange.

Key categories showed mixed changes in market capitalisation in the last seven days. Layer-2 and DeFi led the increase.

Notable Updates

Newly Listed Tokens in the Crypto.com App

News Highlights

Crypto.com News 

• VivoPower selected Crypto.com to provide custodial support for its digital asset treasury strategy. Under this partnership, VivoPower’s shares can be traded under Crypto.com’s broker-dealer.
• Aditxt, a platform dedicated to accelerating health innovations, announced that it signed a custody agreement with Crypto.com to establish a custodial crypto account and Crypto.com will serve as the custodian for Aditxt’s proposed digital treasury. The agreement is a foundational step in the broader planned rollout of bitXbio™ — Aditxt’s crypto-native social platform bridging fintech and biotech.

Adoption

• Japan’s Financial Services Agency (FSA) is set to approve yen-denominated stablecoins as early as this fall. Fintech firm JPYC is expected to lead the rollout, and the stablecoins will be backed by liquid assets, such as bank deposits and Japanese government bonds.
• S&P Dow Jones Indices is in talks to bring tokenised versions of its indexes to exchanges and DeFi protocols. It aims to explore partnerships to develop robust infrastructure that support the trading of these tokenised indices to enhance investor experience. 
• Citigroup is evaluating plans to offer crypto custody and payment services. The initiative would initially focus on assets backing stablecoins and crypto-linked ETFs.
• Digital Asset and several major financial firms executed the first US Treasury financing against USDC on the Canton Network. The transaction, which was settled on a Saturday, highlights tokenisation’s potential to overcome traditional weekday-only settlement limitations.

Investment Vehicles

• Grayscale filed with the US SEC to convert its Grayscale Dogecoin Trust to the Grayscale Dogecoin Trust ETF. It is expected to be listed on NYSE Arca under the ticker, GDOG. 
• Grayscale unveiled two new single-asset trusts on Deepbook and Walrus, protocols tied to the Sui ecosystem. Deepbook is an on-chain orderbook while Walrus offers programmable data storage. 
• Canary Capital filed to register the Canary Trump Coin ETF in Delaware to track a meme coin linked to Donald Trump. 

Regulation

• US President Donald Trump has reportedly issued a “clear directive” for Congress to create a strategic US BTC reserve, according to former White House crypto advisor Bo Hines. No other details like size, timing, or oversight are specified.
• US Treasury Secretary Scott Bessent clarified that the department is committed to exploring budget-neutral ways to acquire more BTC. This came after his comments in an earlier interview that was interpreted to mean the Treasury has no intention to buy additional BTC 
• The Hong Kong Securities and Futures Commission (SFC) introduced new crypto custody rules with security requirements and banned smart contracts in cold wallets. The framework mandates hardware security modules, whitelisted withdrawals, and a 24/7 security operations centre for monitoring.

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