According to Australian Taxation Office data, SMSF crypto holdings stood at A$3.02 billion by June 2025, down 4% from A$3.12 billion a year earlier despite a 60% Bitcoin rally. But SMSF crypto holdings remain 41% higher than in June 2023, supported by clearer token regulations and rising interest from 25–34-year-olds, who now lead in crypto ownership at 53%. Chainalysis highlights the Asia-Pacific region as a grassroots crypto hub, while Coinstash argues that tax-year filing lags may understate true allocations. Major exchanges Coinbase and OKX are rolling out SMSF-tailored services to tap Australia’s A$4.3 trillion pension market, as traders call on the incoming Labor government to advance digital asset legislation. Globally, pension schemes in the UK and US are also increasing crypto allocations, underscoring broader integration of digital assets in retirement planning.
Ukraine’s parliament has approved the first reading of a crypto legalization bill, classifying virtual assets as blockchain-based digital property and confirming cryptocurrencies are not legal tender. The draft law imposes an 18% capital gains tax plus a 5% military levy on crypto-to-fiat conversions. It waives taxes on crypto-to-crypto and stablecoin trades. For the first year, the bill offers a reduced 5% tax on crypto-to-fiat conversions to attract overseas holdings home. Lawmakers aim to channel up to $10 billion in underground digital assets into the formal economy. The bill aligns with EU MiCA standards and strengthens KYC/AML protocols to curb money laundering and fraud. Traders should note that the overseeing regulator is still undecided, pending further amendments before the second reading, followed by presidential approval. Market participants should follow this crypto legalization effort as it may drive trading volumes and liquidity in Ukrainian digital assets.
Crypto.com CEO Kris Marszalek forecasts that a Fed rate cut at the September 17 meeting could boost market confidence, crypto trading volumes and asset prices in Q4 2025. He notes that lower borrowing costs often spark renewed risk appetite among retail and institutional traders, benefiting digital assets such as Bitcoin and Ethereum. In 2024, Crypto.com generated $1.5 billion in revenue and $1 billion in gross profit, reinvesting $700 million into its operations. Marszalek expects 2025 figures to surpass last year’s results if favorable conditions persist. The exchange is also exploring an IPO with major banks, though no formal decision has been made, and is expanding its product suite—from DeFi services and NFT marketplaces to planned entry into U.S. prediction markets. Traders should watch for the Fed rate cut and Crypto.com’s strategic moves, which may drive both short-term volatility and long-term growth opportunities in digital assets.
US Bancorp has resumed Bitcoin custody services with NYDIG after a four-year pause. The bank now offers secure Bitcoin custody for registered funds and ETF providers, following a regulatory shift that saw the SEC rescind its 2022 advisory on crypto custodian participation. It plans to expand digital asset custody to other cryptocurrencies and integrate services into wealth management and payments. Competitors like BNY Mellon, Deutsche Bank and Fidelity already provide crypto custody, while Citigroup evaluates its own launch. The move underscores growing institutional adoption and could boost market confidence in Bitcoin custody.
Tokenized gold market capitalization has surged past $2.5 billion as on-chain gold prices approach record highs near $3,500 per ounce. Tether’s XAUT and Paxos’ PAXG lead the expansion, with XAUT supply rising $437 million to a record $1.3 billion in August and PAXG drawing $141.5 million in net inflows since June, lifting its market value to $983 million. The rally reflects renewed safe-haven demand amid a steepening US Treasury yield curve and broader market uncertainty. Blockchain-based gold tokens offer traders fractional ownership, 24/7 liquidity and transparent auditability. Recent regulatory clarity from the US GENIUS Act further legitimizes digital precious metals and has drawn increased institutional participation. This surge underscores growing institutional and retail interest in tokenized gold, likely boosting short-term trading volumes and supporting long-term adoption of gold-backed crypto instruments.
Treasury N.V. raised €126 million from Winklevoss Capital, Nakamoto Holdings and others to acquire over 1,000 BTC. The Amsterdam-listed firm will merge with MKB Nedsense via a reverse merger and trade as TRSR on Euronext Amsterdam. Supported by UTXO Management, Off the Chain Capital, M1 Capital and Mythos Ventures, Treasury N.V. plans to expand its Bitcoin treasury through equity and convertible debt offerings. The move builds on the corporate Bitcoin treasury model pioneered by MicroStrategy and follows the approval of US spot Bitcoin ETFs. The company also secured hosting rights for the Bitcoin Amsterdam conference. This listing marks a milestone in Europe’s Bitcoin treasury landscape, broadening institutional access and reinforcing crypto adoption.
Galaxy Digital has launched tokenized shares of its Class A common stock (GLXY) on Solana via Superstate’s Opening Bell. Each GLXY share is 1:1 tokenized and recorded on-chain through Superstate’s SEC-registered transfer agent. KYC-approved investors can trade these tokenized shares 24/7, benefiting from faster settlement, lower counterparty risk, and real-time ownership updates. Following the announcement, GLXY stock rose 5.5% on Nasdaq and TSX. Galaxy Digital CEO Mike Novogratz highlighted improved transparency and scalability. Superstate CEO Robert Leshner aims to integrate GLXY tokens into AMMs and DeFi protocols to boost liquidity. The firm published the official Solana contract address (2HehXG149TXuVptQhbiWAWDjbbuCsXSAtLTB5wc2aajK) and warned of fraudulent copies. Future plans include cross-chain support, automated dividends, and on-chain voting as part of broader tokenized shares offerings. This tokenized shares initiative marks a shift toward blockchain-based equity trading and deeper DeFi integration.
El Salvador will host the world’s first state-backed Bitcoin conference, Bitcoin Histórico, on November 12–13, 2025, in San Salvador’s historic center. The event will transform the city’s Centro Histórico into a festival of finance, culture and technology, with main sessions at the National Palace and live broadcasts at Plaza Gerardo Barrios, plus talks at the National Library and Theater. Confirmed speakers include Ricardo Salinas, Jeff Booth, Jack Mallers, Max Keiser and industry leaders like Pierre Rochard, Jimmy Song and Lina Seiche. Panel topics cover Bitcoin’s role in financial freedom, cultural revival, infrastructure, energy use and financial inclusion. Tickets start at $350, with a $2,100 Genesis Crown Pass offering VIP seating and private networking; early bird sales will accept BTC. This Bitcoin conference follows a constitutional reform extending presidential terms for Nayib Bukele—a move supporters say will secure El Salvador’s crypto strategy. The government now holds over 6,200 BTC in reserves, secured in 14 separate wallets and tracked via a public dashboard in real time. This high-profile event underscores El Salvador’s global leadership in digital currency adoption and could attract institutional investors amid macroeconomic uncertainty.
The Ethereum Foundation announced it will sell 10,000 ETH (≈$43 million) over several weeks via small orders on centralized exchanges to limit market impact. Proceeds will fund research, development, grants and charitable donations, following its June treasury policy that capped annual operating expenses at 15%, added reserve buffers and set a phased spending reduction. In Q1 2025 the Foundation distributed over $32 million in grants. Since June it sold 10,000 ETH to SharpLink Gaming (≈$25 million) plus another $12.7 million in two transactions.
Meanwhile, institutional demand for ETH is rising. Yunfeng Financial Group bought 10,000 ETH and Ether Machine added 150,000 ETH, lifting its treasury to 345,000 ETH. BitMine Immersion Technologies holds nearly 1.9 million ETH, 192 BTC and $635 million in cash, boosting its stock by 41% last month. Bullish voices—including ARK Invest, Tom Lee and Joseph Lubin—cite long-term upside, while recent Fed rate hints helped ETH rally 23% over the past month. Traders should monitor the gradual ETH sale for potential short-term volatility, but view sustained ecosystem funding and strong institutional buying as a bullish signal.
Yunfeng Financial Group (HKEX:0376) has allocated $44 million to purchase 10,000 Ethereum (ETH) as part of its Web3 reserve strategy. The holdings, booked as investment assets, aim to underpin real-world asset (RWA) tokenization infrastructure and explore insurance applications, while optimizing the firm’s asset mix and reducing fiat exposure. The company will adjust its ETH reserves based on market conditions, regulatory shifts and financial performance. This move follows precedents set by Tesla and MicroStrategy’s Bitcoin allocations, highlighting growing institutional adoption of Ethereum. Meanwhile, industry peers The Ether Machine secured $654 million in private funding—led by a 150,000 ETH contribution from Jeffrey Berns—and BitMine Immersion Technologies, led by Tom Lee, added 150,000 ETH to bring its total to nearly 1.87 million ETH, underscoring rising demand and liquidity for Ethereum amid evolving crypto markets.
Solana on-chain governance has approved the Solana Alpenglow upgrade, adopting new Votor and Rotor consensus modules. The Solana Alpenglow upgrade replaces TowerBFT and proof-of-history, cutting Layer 1 transaction finality from over 12 seconds to 150 milliseconds—a 100× speed boost. With over 98% support and 52% validator turnout, the upgrade achieves Web2-level responsiveness. The Solana Foundation expects this performance leap to unlock high-speed DeFi and DApp use cases, reinforcing SOL’s on-chain utility and potentially boosting trader demand.
’Killing Satoshi’ is an upcoming Bitcoin film that delves into the mystery of Satoshi Nakamoto, the pseudonymous creator of Bitcoin. The Hollywood movie stars Casey Affleck and Pete Davidson, adapting Andrew Leland’s book. Produced by Propagate and directed by Pablo Illanes alongside Doug Liman, filming is set to begin in mid-2024 in London. This Bitcoin film portrays a global conspiracy to conceal Nakamoto’s identity and explores the power dynamics of digital currency. Crypto traders should note that while the film could drive mainstream awareness and shift market sentiment, its direct impact on Bitcoin prices is expected to be limited in the short term.
In a joint announcement on September 3, the US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) unveiled a harmonized framework for spot crypto trading on both SEC-registered national securities exchanges and CFTC-designated contract markets. It is supported by the President’s Working Group and forms part of the SEC’s Project Crypto and the CFTC’s Crypto Sprint. The collaboration aims to streamline regulatory oversight, reduce jurisdictional overlap, and enhance market surveillance, clearing, and data transparency. Platforms including CME, NYSE, Nasdaq, and CBOE are now eligible to list and trade spot contracts for major digital assets such as Bitcoin (BTC), Ethereum (ETH), and Solana (SOL). SEC Chair Paul Atkins and Acting CFTC Chair Caroline Pham emphasized the framework’s role in broadening market access and fostering innovation for both institutional and retail investors. Regulators invite exchanges and trading venues to engage on compliance guidance and execution under the new spot crypto trading framework.
Since August 20, a major Bitcoin whale has rotated over $4 billion in BTC into roughly 886,000 ETH. On-chain trackers Lookonchain and CMDR show this Bitcoin whale offloaded 35,991 BTC via Hyperliquid, converting it into ETH and opening leveraged positions that were closed for profit and reinvested in spot ETH. In the past 24 hours, whales bought over 260,000 ETH, while exchange balances fell sharply, indicating large-scale accumulation.
This capital rotation coincides with Ethereum’s strong performance. ETH rose 25% over the past month, versus a 4% drop in BTC. US spot Ether ETFs now manage over $23 billion, and corporate treasuries hold 4.44 million ETH. Traders should watch whale moves, ETF inflows, and exchange outflows. Growing institutional demand and shifting sentiment may drive further upside for ETH, with bulls targeting $4,412 to $10,000.
South Korea’s Ministry of Strategy and Finance has signed the OECD’s Crypto-Asset Reporting Framework (CARF), officially launched on September 2, 2025, to mandate global sharing of crypto transaction data. Starting in 2026, domestic exchanges such as Upbit and Bithumb must collect and report identifying and transactional data of foreign investors to their home tax authorities. Conversely, transaction records of Korean nationals on overseas platforms will be submitted to the National Tax Service. From 2027, CARF will operate fully, requiring virtual asset operators to exchange crypto transaction data across borders irrespective of transaction size, closing offshore reporting gaps. Aligned with 48 committed countries, this framework enhances tax transparency and combats evasion. In parallel, Seoul is advancing a stablecoin regulatory framework: Tether (USDT) and Circle (USDC) executives are engaging with local banks and the Bank of Korea to ensure access to local-currency stablecoins for trading and remittances.
Lee Eok-won, nominee for South Korea’s Financial Services Commission (FSC) chair, criticised cryptocurrencies as lacking intrinsic value and failing basic monetary functions due to extreme volatility. He rejected pension funds’ crypto investments amid discussions on crypto regulation and said he would review global trends before approving spot Bitcoin ETFs. Conversely, he endorsed tough crypto regulation for won-pegged stablecoins under President Yoon’s digital asset framework. Industry experts slammed his conservative stance, arguing it undervalues blockchain utility and risks sidelining Korea’s Web3 ambitions. Some urged an independent digital assets regulator to balance market stability with innovation and investor protection.
Bearish
crypto regulationstablecoinspension fundsBitcoin ETFSouth Korea FSC
August witnessed a record $163 million in crypto hacks across wallets, exchanges and DeFi. The largest attack saw 783 BTC ($91.4 M) stolen via social engineering and laundered through Wasabi Wallet. Following hot-wallet key compromises, Turkish exchange BtcTurk lost $48–54 M. Other incidents included a $7 M AMM manipulation at Odin.fun, a $5 M exploit of BetterBank.io via fake PulseChain (PLS) pools, and a $4.5 M CrediX Finance (CREDIX) breach turned exit scam with funds routed through Tornado Cash (TORN). Year-to-date losses exceed $2.3 B, with wallet breaches alone costing $1.7 B. High crypto prices above $100 K are fueling sophisticated cybercrime, underscoring urgent calls for stronger cybersecurity measures.
River reports that in 2025, institutions, ETFs and governments are buying over 3,200 Bitcoin daily, dwarfing miners’ 450 BTC output. In Q2, corporate treasuries added 159,107 BTC, lifting total reserves to about 1.3 million. Michael Saylor’s Strategy leads with 632,457 BTC. Exchange reserves hit multi-year lows. Strong institutional demand and hefty ETF inflows may trigger a Bitcoin supply squeeze, underpinning a bullish outlook.
Binance APAC Head SB Seker brings over 20 years of experience across public policy, fintech and blockchain. As the new Binance APAC Head, he will oversee regional strategy, strengthen regulatory partnerships and drive market adoption. Seker’s background includes senior roles at Crypto.com, Ant Group, Rothschild & Co, Amicorp and the Monetary Authority of Singapore. Binance’s CEO Richard Teng said the appointment underscores the exchange’s commitment to compliance and responsible growth. Traders can expect improved regulatory clarity and greater confidence in the Asia-Pacific digital asset ecosystem.
Layer Brett (LBRETT) is an Ethereum Layer 2 memecoin presale token, currently priced at $0.0053—up from $0.005 in early rounds—and has raised over $9 million to date. It processes transactions off-chain while anchoring to Ethereum, delivering sub-second confirmations and gas fees under $0.01.
The project offers transparent tokenomics, a fixed supply of 10 billion tokens and a $1 million community giveaway. Early participants can stake their tokens for APYs exceeding 1 300%.
Compared with MELANIA, MOODENG and NEIRO—which rely on hype and lack integrated staking mechanisms—Layer Brett blends meme culture with genuine DeFi utility. Its infrastructure resembles Optimism and Arbitrum but adds viral potential.
As the presale deadline approaches, traders assess its passive income yields and 1000× upside potential, weighing long-term sustainability in the growing meme-token market.
Grayscale Investments filed S-1 registration statements with the SEC for spot ETFs tracking Cardano (ADA) and Polkadot (DOT). The Grayscale Cardano Trust will list on NYSE Arca as GADA, custody by Coinbase Custody, and track ADA via the CoinDesk Cardano Index (ADX). The Grayscale Polkadot Trust will trade on Nasdaq under DOT, referencing the CoinDesk Polkadot CCIX Rate. Both spot ETFs offer passive altcoin ETF exposure without leverage or derivatives. These filings follow earlier 19b-4 exchange submissions to streamline SEC review and investor disclosures. Approval timelines remain uncertain amid uneven regulatory prioritization. Market participants will watch SEC comment periods. A successful ADA ETF and DOT ETF launch could drive trading volume and price support for ADA and DOT, mirroring the bullish response to BTC and ETH spot ETF approvals.
CoinShares reported Q2 net profit of $32.4 million, up 1.9% year-on-year but down 5.3% quarter-on-quarter. Assets under management (AUM) rose 26% to $3.5 billion, driven by a 29% gain in Bitcoin and a 37% rise in Ethereum prices plus $170 million of net inflows into spot crypto ETPs. Management fees reached $30 million, capital markets income was $11.3 million, and adjusted EBITDA hit $26.3 million. Strategic treasury operations swung from a Q1 loss to $7.8 million in unrealized gains. Additional revenues came from Ethereum staking, delta-neutral trading and lending. CoinShares CEO Jean-Marie Mognetti said a US exchange listing is planned this quarter to tap deeper liquidity and enhance valuations.
The US Securities and Exchange Commission is reviewing a record 96 crypto ETF filings, highlighting rising institutional interest in digital assets. Solana tops the list with 16 proposals from firms including Invesco and Galaxy. XRP trails closely with 15 applications by ProShares and Franklin Templeton.
Additional filings cover Dogecoin, Litecoin, Chainlink, Polkadot, Ethereum, Bitcoin, and Cardano, marking the broadest diversification beyond BTC and ETH to date. Demand for regulated crypto ETF structures has pushed asset managers like BlackRock’s iShares Bitcoin Trust to accumulate over $58 billion, or 3% of total BTC supply, and Ethereum ETF applicants to secure more than $13 billion in potential inflows.
Analysts predict a bullish impact on market liquidity and altcoin prices once approvals arrive. ETF expert Nate Geraci anticipates significant price moves for XRP and major altcoins, while James Seyffart calls this the largest wave of crypto ETF filings so far. However, SEC Commissioner Caroline Crenshaw’s ongoing opposition has reduced XRP ETF approval odds to 62%, keeping traders on alert for upcoming SEC rulings.
Bitcoin Infrastructure Acquisition Corp Ltd, a Cayman-based crypto SPAC, has filed with the SEC to raise $200 million through a Nasdaq IPO under ticker BIXIU. The SPAC will issue 20 million shares at $10 apiece and allows investors to redeem shares if no merger closes within 24 months. Led by ex-Lightning Labs chief Ryan Gentry and CFO James DeAngelis, the blank-check company seeks targets in Web3, blockchain infrastructure, DeFi platforms, wallets, tokenization, and secure custody, focusing on Bitcoin and stablecoin systems. This listing follows recent $575 million raised by two crypto SPACs—CSLM Digital Asset Acquisition Corp III and M3-Brigade Acquisition VI Corp—underscoring strong investor appetite for digital asset ventures.
In August 2025, the U.S. Department of Commerce (DOC) began publishing its July 2025 GDP data on nine major blockchains, hashing official figures on Bitcoin (BTC), Ethereum (ETH), Solana (SOL), TRON (TRX), Stellar (XLM), Avalanche (AVAX), Arbitrum One (ARB), Polygon PoS (MATIC) and Optimism (OP). The DOC uses Pyth and Chainlink oracles to ensure immutability, broad on-chain coverage and real-time access via exchanges including Coinbase, Gemini and Kraken. This GDP data publication enhances transparency, data security and independent verification, lowers trust costs and solidifies U.S. leadership in blockchain innovation. Future plans include adding unemployment and other economic indicators, partnering with more blockchain networks and oracles, and integrating on-chain macro data into traditional finance and DeFi.
Bullish
U.S. GDP DataBlockchainChainlinkPythOn-chain Oracles
IREN reported its first-ever fiscal profit of $86.9m in FY2025, alongside record Q2 revenue of $187.3m. The Sydney-based bitcoin mining firm doubled annual revenue to $501m, delivered net income of $176.9m and adjusted EBITDA of $269.7m. Shares jumped 13% pre-market and rose 3.1% at close as IREN’s market cap hit $5.3bn, closing on rival MARA. It scaled mining capacity to 50 EH/s, mined 728 BTC in July, and secured 3 GW contracted power. On the AI front, IREN added 1,900 Nvidia GPUs, gained Nvidia Preferred Partner status, and plans to invest $200m to raise GPU count to 10,900 by December, targeting $200–250m annualized AI revenue. A $105m equipment-loan settlement with NYDIG strengthens its balance sheet. IREN’s dual focus on bitcoin mining and AI cloud computing underpins revenue diversification and market resilience.
JPMorgan analysts led by Nikolaos Panigirtzoglou argue that Bitcoin is significantly undervalued relative to gold. Using a volatility-adjusted model, they estimate a Bitcoin fair value of $126,000—about 13% above current levels. The bank highlights that Bitcoin’s six-month rolling volatility has halved from 60% to a record low near 30%, now just twice that of gold.
Institutional investment is cited as the main driver. Corporate treasury purchases have exceeded 6% of Bitcoin’s supply, acting as a “Bitcoin central bank” and reducing circulating tokens. The launch of spot Bitcoin ETFs has boosted fund assets under management (AUM) to roughly $150 billion, closing in on the $180 billion held in gold funds.
Recent corporate moves strengthen the trend. Japan’s Metaplanet joined the FTSE Japan and FTSE All-World indexes, while Nasdaq-listed Kindly MD has acquired $679 million in Bitcoin and plans up to $5 billion more. Technically, Bitcoin needs to surpass $117,570 to flip mid-term bearish sentiment, even as long-term indicators stay bullish. With lower volatility, clearer regulation and growing ETF adoption, JPMorgan says Bitcoin’s digital gold narrative is becoming reality, suggesting substantial upside ahead.
Bitwise’s latest Bitcoin price prediction projects a rise to $1.3 million by 2035, implying a 28.3% CAGR that outpaces stocks, bonds and gold. This Bitcoin price prediction rests on three pillars: surging institutional demand (75% of Coinbase volume from institutions, 35 public firms holding ≥1,000 BTC), Bitcoin’s limited supply (94.8% in circulation, issuance rate dropping from 0.8% to 0.2% by 2032, 70% of coins dormant over a year) and macro-economic pressure (US debt at $36.2 trillion with $952 billion in annual interest costs).
Optimistic scenarios lift targets to $2.97 million (39.4% CAGR), while pessimistic ones see $88,005 (2% CAGR), highlighting potential volatility. Miners produce 450 BTC/day versus institutional off-take of 2,500 BTC every 48 hours, creating what Bitwise calls a “perfect storm” for price surges. Regulatory risks, political uncertainty and Bitcoin’s novelty pose threats, with technical risks like quantum computing remaining secondary.
Traders should balance the bullish long-term outlook against possible mid-term fluctuations when adjusting allocations. The low correlation with stocks and bonds suggests reduced volatility, strengthening Bitcoin’s appeal as an inflation hedge and portfolio diversifier.
CFTC’s Division of Market Oversight has issued a new advisory under the CFTC FBOT Framework, allowing licensed non-US crypto platforms—including Binance, Bybit and OKX—to offer direct market access to US traders.
Acting Chair Caroline Pham said the CFTC FBOT Framework restores regulatory clarity, onshoring trading activity previously driven offshore and giving Americans access to deeper global liquidity across both digital and traditional assets. Under the framework, exchanges must meet home jurisdiction licensing and CFTC-comparable standards before serving US clients.
The advisory also paves the way for deploying Nasdaq’s advanced surveillance system for real-time fraud detection in derivatives and crypto markets.
Following the advisory, Binance Coin (BNB) rallied above $876, nearing its all-time high of $899. This regulatory win is expected to boost US crypto trading volumes, enhance market stability and increase liquidity.