This week, bitcoin hit a new all-time-high (above $118K) on the back of strong ETF flows and at least $280 million in new bitcoin treasury investments.
Treasury projects are also cropping up for Ethereum and Solana. Notably, Joseph Lubin’s SharpLink ETH treasury bought 10,000 ETH for that project, and Bitmine announced plans to raise $2 billion for more ETH buying. Off that strong signal, large-cap “alts” like ETH and SOL saw near year-to-date highs, carrying other hot projects like SUI higher as well.
It was a week when the crypto markets seemed to be enjoying themselves as new legislation nears and investment flows from new institutional sources.
The U.S. House said it would take up the Senate version of the GENIUS stablecoin bill, making final passage easier. And industry leaders met on Capitol Hill to lobby for a comprehensive “Market Structure” bill.
It wasn’t all plain sailing for innovators in the space. Robinhood faced skepticism over its tokenized stock plans, and then the Florida AG launched a lawsuit claiming the fintech engaged in deceptive crypto pricing.
The Trump family’s own crypto dealings continued to make news. Trump Media announced a multi-asset ETF application. And, Tron founder Justin Sun bought $100 million of $TRUMP and promised to help the memecoin go big in Asia and Africa.
Next week (dubbed “Crypto Week”) promises to be historic for crypto news. The House considers stablecoin and market structure legislation and the Senate has a hearing planned on digital asset taxation. First a trickle, then a flood.