SnapShot 217

Hello SnapShotters,

The Federal Reserve’s (Fed) rate decision may have sent market volatility up this week, but the policy momentum pushing crypto into the mainstream rolled on. The U.S. Securities and Exchange Commission (SEC) approved in-kind creations and redemptions for spot BTC and ETH exchange-traded products (ETPs), meaning ETF trading may become less costly and more efficient. 

As Ethereum celebrated its 10th birthday, ETH inflows topped $2.9 billion over seven sessions — triple that of BTC — with BlackRock’s iShares Ethereum Trust ETF (ETHA) blazing past $10 billion in assets under management (AUM) in record time.

Onto the markets, Bitcoin briefly plunged mid-week to the $114K-level after Galaxy Digital offloaded 80,000 BTC for an early investor before rebounding to $119K, as the U.S. struck a trade deal with the EU. ETH remained resilient, attempting another break at $4K, as ETF flows and Ethereum-led discourses held strong. CRO led weekly gains, while APT and XRP lagged.

As the altcoin surge cooled, a new narrative flickered back to life: Blue-chip NFTs. CryptoPunks topped $24.6M in weekly trades, sparked by GameSquare’s $5.15M acquisition of a rare Ape Punk. As Ethereum outpaced Bitcoin and Solana in NFT sales, blue-chip digital artifacts may be staging a quiet resurgence.

News Snaps

📥 SEC Approves In-Kind Crypto ETF Transactions

The SEC now permits in-kind creations and redemptions for crypto ETPs, allowing firms like BlackRock and Grayscale to swap shares directly for BTC or ETH, potentially lowering costs and boosting efficiency.

🏛️ White House Digital Asset Task Force Delivers Recommendations

The U.S. President’s working group on digital assets has delivered its report of recommendations to strengthen American leadership in digital financial technology, including urging federal regulators to clarify crypto trading rules and support innovation.

🏦 Cboe Files for Staked INJ and SOL ETFs Amid SEC Review

Cboe BZX Exchange filed proposals with the SEC for two crypto ETFs: Canary Capital’s staked Injective (INJ) ETF and Invesco Galaxy’s Solana ETF. The issuers are also pushing for staking components to these funds after the SEC clarified that certain staking activities may not qualify as securities offerings.

🏢 Corporations Diversify Crypto Holdings With Altcoins

Corporate investors are moving to diversify their cryptocurrency treasuries by turning to altcoins. These include Mill City Ventures’s $450 million private placement for a Sui treasury and Upexi’s $500 million commitment to further its Solana treasury.

🚀 LetsBONK.fun Overtakes pump.fun in Token Deployment

LetsBONK.fun overtook pump.fun as the top launchpad on the Solana network, accounting for up to 69% of tokens deployed last weekend. In the same period, pump.fun only accounted for 19% of tokens deployed on Solana.

🏀 NBA Top Shot NFTs Available in Japan's Vending Machines

NBA Top Shot NFTs are now available via physical vending machines across Japan, thanks to a collaboration between Dapper Labs and 24karat. The initiative lets basketball fans acquire digital collectibles of popular teams like the Philadelphia 76ers without needing any crypto experience.

What's Ahead

⚖️ SEC Delays Decision on Truth Social BTC ETF

The SEC delayed its decision on several high-profile crypto ETF applications, including moving the review deadline for the Truth Social Bitcoin ETF to September 18 and the Grayscale Solana Trust to October 10. This highlights the SEC’s cautious stance, despite broader signs of a more favorable attitude toward crypto. 

Number of the Week

Chart of the Week

📊 Ether ETFs Outpace Bitcoin for Seven Straight Days

U.S. spot ETH ETFs recorded stronger daily net inflows than BTC ETFs for seven consecutive trading sessions, at nearly $2.9B compared to Bitcoin’s $958M.

Institutional conviction in Ether seems to be consistently growing; it is bolstered by BlackRock’s ETHA fund, which just became the third-fastest ETF ever to reach $10B in AUM.

Crypto Trivia

Before co-founding Ethereum, what was Vitalik Buterin’s role in crypto?

A) Smart contract developer
B) Miner
C) Journalist 

Find the correct answer at the end of this newsletter. 👇

NFT Spotlight

In the chaos of Japan's warring period, a legendary warrior is driven by honor and vengeance to avenge his family in ‘SHIROTSO: THE SAKO SAMURAI’. 

Created by a team with over eight years of experience in the anime industry and three sold-out collections under its belt, YUROSAKO brings the odyssey of SHIROTSO to life.

Collectors of the 2,300-piece NFT collection stand a chance to win unique rewards, including access to a new mobile game tournament and a limited-edition physical bust figure*.
*Subject to Terms and Conditions. Availability may be subject to jurisdictional eligibility.

Experience the life of SHIROTSO up close. Shop the drop today!

Crypto Learn

Meme Coin Launchpads Explained

Meme coin launchpads are platforms that help creators debut new meme tokens, which are often built around viral internet culture, humor, or community hype. These platforms simplify the token creation process, offering tools for smart contract deployment, presale management, and community-building, all with minimal coding knowledge required.

Key benefits of meme coin launchpads:

1. No-code, instant token creation: Users can launch tokens in seconds simply by entering a name, ticker, and image.
2. Built-in liquidity and price discovery: Bonding curves enable automatic, predictable pricing without the need for external market makers.
3. Fair, transparent access: Everyone interacts with the same smart contracts under identical terms, with no insider deals or preferential treatment.
4. Multichain ecosystem growth: Launchpads support multiple blockchains, making token creation widely accessible across networks.
5. Gamified milestones: Tokens unlock new features and generate hype as they hit community-driven thresholds, encouraging engagement and speculation.

Read more in the full University article now.

CryptoIRL

Check out @misterdoc137 and the Icy Card’s envy-inducing view!

Hashtag #CryptoIRL with your Crypto.‌com Card on your social profiles to get featured! Your 15 minutes of fame in the #CROFam awaits you!

Online Pastor and Wife Charged in Faith-Based Crypto Scam

An online preacher from Texas and his wife were indicted for orchestrating a $3.4 million crypto scam. He used his social media influence and spiritual persona to gain trust, causing financial losses to at least 300 investors.

The couple urged members of their religious community to purchase INDXcoin, a cryptocurrency they developed and sold via their own platform, the Kingdom Wealth Exchange. Rather than being used for investment purposes, most of the funds were reportedly spent on luxury goods and personal expenses, including a home remodel they claimed was directed by “the Lord.”

How to stay safe from scams:

1. Always ask for proof of investment and returns.
2. Don’t trust influencers, and even faith leaders, blindly.
3. Use secure, regulated platforms only.
4. Do not invest more than you are willing to lose.

Crypto Trivia Answer

 C) Journalist ✅

Buterin wrote for Bitcoin Magazine at just 17 years old, long before creating Ethereum. He was paid 5 BTC per article.

That's it for this week's SnapShot. Want more? Find out what’s trending in the crypto world.