Welcome to the Crypto.com Monthly Research Roundup Newsletter

1. Research Dashboard

According to our research dashboard, 209 public companies collectively acquired over 1.2 million BTC (approximately US$79 billion) as of July 9, representing over 6% of Bitcoin's total supply.

In June, the price and volume indices declined by -20.53% and -3.20%, respectively, while the volatility index surged by +76.66%.

2. Charts of the Month

As BTC fell below $59,000 on June 25, the amount of Bitcoin held at a loss reached an all-time high of 10.8 million BTC, representing 53.7% of BTC supply. The supply in loss increased significantly by 73.6% year-to-date. Despite market downturns, long-term holders (investors holding for 155+ days) have increased their control to a record 16 million BTC, representing approximately 80% of the circulating supply.

U.S. total public debt outstanding hit a record $39.5 trillion in June. The crypto sector has become a major absorber of this debt, holding over $220 billion primarily through stablecoins and RWA tokenization. By comparison, Norway — the 14th-largest foreign holder of U.S. Treasuries — holds $214.7 billion.

Circle and Tether collectively hold approximately $205 billion in U.S. Treasury securities to back their stablecoins. Meanwhile, tokenized U.S. Treasuries hit $15 billion, accounting for a historic 0.04% of total U.S. debt. Over the 30 days ending July 8, Circle’s tokenized money market fund, USYC, led the sector with $193 million in net inflows. In contrast,  BlackRock’s BUIDL and WisdomTree’s WTGXX saw the largest pullbacks, with $225 million and $167 million in net outflows, respectively.

3. Monthly Feature Articles

Tokenized Stocks: The Evolution of Equity

By integrating traditional equities with blockchain infrastructure, tokenized stocks eliminate legacy inefficiencies like multi-day settlement periods. This transition introduces key structural advantages, including 24/7 global market access, T+0 atomic settlement, and lower entry barriers via fractional ownership.

This report analyzes the evolution of tokenized stocks — demonstrating how blockchain technology interfaces with standard equities to resolve legacy operational challenges — and evaluates the structural benefits and risks of this asset class.

Key Takeaways:

• The tokenized stock market surged 149% year-to-date to approximately $1.7 billion by June 2026, with monthly trading volumes exceeding $6.7 billion — signaling strong institutional and retail adoption.
• Unlike synthetic derivatives, platforms increasingly adopt custodial-backed models where digital tokens maintain a 1:1 correspondence with RWAs held in regulated custody, ensuring assets are anchored to traditional value.
• Investors can employ advanced DeFi strategies, such as delta-neutral yield farming to isolate yields by hedging price volatility, or yield-bearing spot loop leveraging to boost capital efficiency via lending protocols.
• While efficient, investors must consider the challenges such as counterparty risk associated with centralized custodians, a lack of direct legal ownership or voting rights typical of derivatives, and the impact of asset volatility on leveraged yield strategies.
• Crypto.com's Tokenized Stocks feature offers 1:1 backed fractional investing from $1, zero-commission trading, instant blockchain execution, and a Stocks Earn program offering additional yield and no lock-up periods.
• As the broader tokenized RWA market expands, tokenized equities will serve as a foundational pillar for digital asset growth. Long-term leadership in the emerging synthetic equity market will likely depend on infrastructure maturity and robust, institutional-grade compliance.

Monthly Market Update (June 2026)

Global financial markets experienced a widespread correction in June, driven by intense selling pressure on risk-on assets and a capital rotation into income-generating and defensive sectors. While major digital assets suffered steep declines, broad equity indices stalled: the tech-heavy Nasdaq Composite decreased by 2.8% and the S&P 500 fell 1.1%, though the Dow Jones Industrial Average bucked the trend with a 2.5% gain. Concurrently, Gold and Commodities pulled back sharply, while Bonds and Real Estate offered insulation from the market-wide downturn.

Key Takeaways:

• Overall Market Performance: June saw a broad-based correction across global financial markets. Risk-on assets faced selling pressure, with digital assets suffering heavy losses. While the Dow Jones Industrial Average gained 2.5%, the S&P 500 fell 1.1% and the Nasdaq Composite dropped 2.8%. Real Estate and Bonds provided relative stability.
• G20 Macro Environment: Monetary policy faced a tug-of-war between geopolitical supply shocks and a structural AI/tech capex boom. The Federal Reserve maintained a hawkish hold, the European Central Bank raised rates by 25 basis points, and the Bank of Japan raised rates to 1.0%.
• Crypto Market Dynamics: DeFi categories mostly corrected, with Meme tokens leading the decline. Liquid Staking bucked the trend. U.S. spot BTC ETFs recorded a record net outflow of $4.5 billion, while U.S. spot ETH ETFs saw $530 million in net outflows.
• Crypto Regulatory Developments: The U.S. saw notable legislative activity, including a proposed CBDC ban and new prediction market rules from the Commodity Futures Trading Commission (CFTC). The EU finalized a legal framework for a digital euro and set new AML rules. The UK introduced stablecoin rules, and the Financial Conduct Authority (FCA) consulted on retail crypto allocations. South Korea integrated token securities into its market modernization plan.
• Equity Market Trends: The U.S. market saw sector rotation with cyclicals and value outperforming tech. Europe recovered on capital rotation and easing energy tensions. Asian markets showed a structural split, with Japan hitting historic milestones amid a tech/AI boom, while Hong Kong and South Korea faced volatility.
• New Developments in Crypto and TradFi: Crypto.com expanded its ecosystem with new App and NFT developments, the launch of the OG prediction market in New York, and a strategic integration with TradingView. Traditional finance saw the launch of Open Standard’s stablecoin (OUSD) and institutional blockchain initiatives from firms like Goldman Sachs, Citi, and DBS Bank, alongside plans for a joint yen-denominated stablecoin from major Japanese banks.
• Outlook on Key Projects and Tokens: Bitcoin miner profitability hit record lows. Ethereum's Glamsterdam upgrade progressed, while Zcash patched a privacy pool vulnerability. Avalanche collaborated on FIFA ticketing, and Cardano faced ecosystem turbulence. The Open Network rebranded its token to Gram.

Interested to know more? Access exclusive reports by signing up as a Private member, joining our Crypto.com Exchange VIP Programme, or collecting a Loaded Lions NFT.

4. Economic Calendar

Looking for more? Check out our most recent reports and trending market updates:
Read more from our website

Get fresh market updates delivered straight to your inbox:
Subscribe to newsletters

Thank you for supporting Crypto.com

Best regards,

Research & Insights Team

Crypto.com