The crypto market was caught in a holding pattern in the opening week of June, but a public disagreement between U.S. president Donald Trump and Tesla chief Elon Musk on X caused a roil. Bitcoin slid about 4% and stopped short of its $100,000 support; Ethereum, Solana, XRP, and other altcoins also recorded losses.
The rotation comes as net inflows into spot BTC ETFs fell to $67 million, a steep drop from $2.75 billion the week before — and BlackRock’s own IBIT posted a record single-day outflow. Meanwhile, spot ETH ETFs pulled in $344 million over the same period, nearly doubling week-on-week.
Elsewhere, Canary Capital filed for the first spot CRO ETF in the U.S., with Crypto.com acting as custodian. On Thursday, USDC issuer Circle went live with its initial public offering (IPO) on the New York Stock Exchange (NYSE), with shares priced at $31 apiece. It opened at $69 and closed its first trading day at $83.
The market may be treading water, but changes in ETF demand and stablecoins are telling. The next leg could hinge on what comes after ‘digital gold’.
Read on for the latest shake-ups in the crypto industry.
Market Spotlight
Note: Market prices captured in USD at the time of sending. Explore more on Crypto.com/Price. Want more? Get weekly Market and DeFi Updates from Crypto.com’s Research Team.
News Snaps
🎮 Game on With Crypto Payments
Crypto.com recently established a partnership with NEXPACE, the Web3 and blockchain subsidiary of the global gaming company NEXON, to integrate Crypto.com Pay, Crypto.com’s checkout solution, into NEXPACE’s expansive gaming ecosystem.
🇰🇷 South Korea Elects New Pro-Crypto President
Lee Jae-myung clinched South Korea’s presidency on a platform packed with pro-crypto pledges, from legalizing Bitcoin ETFs to allowing state pension funds to invest in digital assets. He’s also pushing for a Korean won-backed stablecoin to curb capital outflows and modernize finance.
📄 CRO ETF Filing Lands on SEC’s Desk
Canary Capital has filed for a spot ETF tracking Cronos (CRO) with the U.S. Securities and Exchange Commission (SEC), as altcoin ETF momentum builds. The move follows Crypto.com’s involvement with the Truth Social BTC ETF and comes amid surging filings for Solana, Dogecoin, and other altcoins.
🥇 Tether Mints Gold Token on TON
Tether launched ‘XAUt0’, an omnichain gold stablecoin on The Open Network (TON), backed by 7.7 tons of gold. Built with LayerZero’s tech, it enables cross-chain transfers, rivaling gold ETFs and Paxos’s PAXG amid rising demand for safe-haven assets.
🇺🇸 Yorkville America Digital Files for ‘Truth Social’ Bitcoin ETF
💎 BTCS Inc. Builds ETH Stockpile via Crypto.com BTCS Inc., a blockchain technology company, has acquired 1,000 ETH via the Crypto.com Exchange, boosting its total holdings to 13,500 ETH — a 50% jump since Q1. CEO Charles Allen said the move supports both treasury and infrastructure goals, calling Ethereum “core” to BTCS’s high-growth strategies.
What’s Ahead
📅 XRP ETF Decisions on the HorizonThe SEC is expected to rule on Franklin Templeton’s spot XRP ETF by June 17, and Grayscale’s application by sometime in October. The clock has also started on WisdomTree’s bid; the SEC has up to 240 days to make a decision, which puts the deadline at early 2026.
Number of the Week
Chart of the Week
Stablecoin payments hit a record $6 billion in February 2025, up from $1.8 billion in early 2023. Business-to-business (B2B) transfers have become the dominant use case, accounting for nearly half of all stablecoin volume as of February.
Meanwhile, card-based transactions more than doubled year-over-year, soaring 103% to $1.1 billion. The steady rise across all payment categories underscores stablecoins’ growing role as a pillar in global digital payments.
Research & Insights
Monthly Feature Article | Crypto Options
Crypto options are similar to traditional finance (TradFi) options, except the underlying assets are crypto or crypto-related contracts. Compared to the crypto spot and futures markets, crypto options still represent a small but growing market.
Which institution currently holds the largest amount of Bitcoin (BTC)?
A) U.S. government
B) Strategy
C) BlackRock
Find the correct answer at the end of this newsletter. 👇
NFT Spotlight
Coming this Wednesday, June 11, from Admire.art is Lita Cabellut’s NFT drop ‘Alchemy of Emotions’. Admire.art has “established itself as a premier platform for NFTs by emphasizing quality and exclusivity.” Working with “internationally renowned galleries, Admire.art ensures that each piece stands as unique and innovative.”
Influenced by the works of El Greco, Goya, and Diego Velázquez, Cabellut, a Spanish informal figurative painter, “has developed a contemporary variation of the classic fresco technique with a personal palette style, creating large-scale realistic oil paintings. Her grandiose portraits demonstrate a deep admiration for the classical artists of the past while also embracing innovative techniques and modes of artistic expression.”
Crypto Basket now supports custom baskets, which allow users to build a bundle of tokens that suit their own investment objectives and preferences. You can use the Basket Builder to create the basket or manually select each token.
For more details, visit the blog. Or get straight to it and try it out now.
Separately, two new Crypto Baskets have launched: Balanced BTC Basket and Balanced SOL Basket. Gain exposure to BTC or SOL alongside USDC, diversifying your portfolio with innovation and price stability. Check it out now.
New Way to Fund USD Cash Account
You can now top up your USD Cash Account with PayPal. Simply link your PayPal account in the Crypto.com App (a one-time setup), and start enjoying instant transfers to your USD Cash Account. Having a USD Cash Account allows you to easily purchase crypto with USD, set up Recurring Buy, sell crypto to cash, and withdraw cash to your bank account. Set up a USD Cash Account today.
Vaulta (S) Added to CFDs: Trade 40+ Tokens With 20x Leverage
Vaulta (S) CFDs (Contracts for Differences) are now available in the Crypto.com App, in addition to BTC, ETH, SOL, DOT, and more. CFDs let users potentially profit from changes in an asset’s price — whether it rises or falls — without actually owning it. Plus, users can trade with up to 20x leverage; only a small portion of the total trade value is needed to start, giving more buying power with less upfront capital. Get started on CFDs.
Win Rewards From a Prize Pool of $250,000 of PENGU
A new Airdrop Arena event is here! This time, $250,000 of PENGU tokens are up for grabs, so don’t miss out and allocate now. The event ends on July 5, 2025. To participate, simply allocate CRO to earn points. The more CRO you allocate, the bigger your rewards are. Start earning now! For more information, visit the FAQs or our blog.
New Token
Subsquid (SQD)
Subsquid is a decentralized data lake and query engine that allows users to efficiently access and analyze historical blockchain data from over 200 networks, including Ethereum Virtual Machines (EVM), Polkadot’s Substrate-based chains, and Solana.
This is informational content only and should not be considered as an investment recommendation. Some Crypto.com products may not be available in some jurisdictions.
Crypto Learn
An Introduction to ReFi and Green Crypto
Regenerative finance (ReFi) and green crypto are reshaping Web3 into a climate-positive ecosystem by aligning financial incentives with environmental regeneration.
What Is ReFi?
ReFi is a movement within the crypto world using blockchain to flip the usual financial model, building systems that can sustain and actively regenerate the world around us by:
Tokenizing ecological actions and rewarding sustainability.
Ensuring transparency for accountability.
Using community governance.
Promoting financial inclusion.
Green crypto complements ReFi with:
Energy-efficient consensus: Using low-energy systems like Proof of Stake (Ethereum, Algorand, Chia, for example) to cut emissions.
Carbon offsetting: Minimizing impact by purchasing carbon credits or running on renewable energy.
Tokenizing environmental assets: Platforms like Toucan and Regen bring real-world carbon and biodiversity credits on-chain.
Verifiable impact: Satellite, Internet of Things (IoT), and data oracle integrations ensure environmental claims are credible and traceable.
Learn how ReFi and green crypto could shape the future of finance and sustainability in this University article.
CryptoIRL
Pizza and crypto go well together. Here, @Csilla_cro is enjoying a pie with the Crypto.com Jade Green and Rose Gold Cards. Eat it up, CROFam.
Hashtag #CryptoIRL with your Crypto.com Card on your social profiles to get featured! Your 15 minutes of fame in the #CROFam awaits you!
Security Tips
Crypto ATM Scams Lead to Millions in Losses
A wave of crypto ATM-related scams has cost Australians millions in just 12 months, with criminals exploiting the trust users place in physical machines and taking advantage of cash-to-crypto machines to launder funds and deceive victims.
These scams often involve romance, investment, or impersonation tactics, where victims are typically instructed over the phone to deposit large amounts of cash into a cryptocurrency ATM. Once converted to crypto and sent to an attacker’s wallet, the funds are nearly impossible to recover.
Here’s how to stay safe from crypto ATM scams:
Never send crypto on someone else’s instructions, especially if you’ve only met them online or over the phone.
Be suspicious of urgent requests for cash-to-crypto transfers.
Know that no legitimate agency or business will ask for crypto payments at an ATM.
Report suspicious activity immediately to relevant authorities.
Crypto Trivia Answer
C) BlackRock. As of June 2025, BlackRock’s iShares Bitcoin Trust (IBIT) holds 633,212 BTC ($65 billion), or 3.015% of Bitcoin’s total supply, surpassing Strategy and all other corporate or government holders.
That’s it for this week’s SnapShot. Want more? Find out what’s trending in the crypto world.
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