News
7 Aug 2025, 04:00
Japanese Financial Giant SBI Moves Forward With Bitcoin-XRP ETF Application
Japan’s largest bank, SBI, has unveiled plans to launch the country’s first exchange-traded fund (ETF) that will be linked to both Bitcoin (BTC) and XRP. SBI Unveils Japan’s First Bitcoin And XRP ETF According to circulating reports, this investment vehicle aims to trade on the Tokyo Stock Exchange (TSE), offering institutional investors a regulated avenue to gain exposure to two of the market’s largest cryptocurrencies. In addition, the country’s financial giant has introduced a second product, the Digital Gold Crypto ETF, which will allocate 51% to gold and 49% to cryptocurrencies. Related Reading: Dogecoin Price Crash Could End Soon With A Roadmap For $5 This structure is reportedly designed to mitigate investment risks through diversification, catering to a growing interest in combining traditional assets with digital currencies. This announcement arrives at a pivotal moment as Japan’s Financial Services Agency (FSA) is contemplating regulatory changes that could simplify the approval and tax processes for cryptocurrency-related financial products. Such developments may further enhance the attractiveness of these offerings to investors looking for regulated investment opportunities in the crypto space. Meanwhile, across the waters in China, the focus is shifting towards the introduction of the country’s first stablecoin. Hong Kong Emerges As Crypto Testing Ground Reports from the Financial Times indicate that Hong Kong has emerged as a testing ground for cryptocurrency initiatives, particularly in light of the stringent bans imposed on the mainland. Recently, Hong Kong passed legislation allowing licensed businesses to issue tokens backed by any fiat currency. However, the Hong Kong Monetary Authority (HKMA) has adopted a cautious approach, announcing that only a limited number of licenses will be granted starting next year. Chinese policymakers are increasingly recognizing the significance of stablecoins, particularly in the context of dollar-backed tokens that dominate the global economy. Related Reading: Is The Bitcoin Bull Run In Jeopardy? Expert Reveals Strategy’s Alleged Plan To Sell All BTC Holdings In a speech made in June, Pan Gongsheng, the governor of China’s central bank, noted that stablecoins have “fundamentally reshaped the traditional payment landscape.” This acknowledgment reflects a growing interest in stablecoins from Chinese state-owned enterprises, especially for payment and settlement solutions. Several state-owned companies operating in Hong Kong are reportedly preparing to apply for stablecoin licenses, although only one of China’s four major state-owned banks is anticipated to receive a license from the HKMA in this initial phase. Notably, the HKMA has not ruled out the possibility of approving licenses for stablecoins backed by offshore renminbi, a potential move that could greatly facilitate cross-border payments—an increasingly vital area for China as it seeks to enhance its financial influence globally. When writing, Bitcoin trades at $115,245, recording a 1% recovery in the 24-hour time frame. When compared to its recently achieved all-time high (ATH) of $123,000, the cryptocurrency has retraced over 6%. Featured image from DALL-E, chart from TradingView.com
7 Aug 2025, 04:00
Ethereum, Not Bitcoin, May Be The Future’s Preferred Store Of Value – VanEck Report
In its July 2025 crypto monthly recap report, global investment management firm VanEck suggested that Ethereum (ETH) could emerge as a superior store of value compared to Bitcoin (BTC). The report pointed to ETH’s lower inflation rate in recent months relative to BTC, alongside its growing utility within decentralized finance (DeFi). Ethereum A Better Store Of Value Than Bitcoin? In recent years, a growing number of companies have diversified their treasuries by allocating capital to digital assets – most notably Bitcoin. However, emerging trends show that corporations are also beginning to accumulate Ethereum, recognizing its potential as both a yield-generating and deflationary asset. VanEck’s report emphasizes that while Bitcoin’s finite supply and predictable issuance policies make it a strong candidate for a store of value, Ethereum provides greater financial flexibility. In particular, ETH holders can stake their assets to earn rewards, collect network revenue, and participate in DeFi protocols to generate additional yield. The report also highlights key differences in the monetary policies of both networks. Ethereum’s initial issuance rate at launch was 14.4%, compared to Bitcoin’s 9.3%. However, two major policy changes have since dramatically reduced ETH’s inflation rate – bringing it below Bitcoin’s. The first was Ethereum Improvement Proposal (EIP-1559), implemented in August 2021, which introduced a mechanism to “burn” a portion of transaction fees. This effectively created deflationary pressure during periods of high network activity, reducing the total supply of ETH. The second transformative event was “The Merge” in September 2022, when Ethereum transitioned from a Proof-of-Work (PoW) to a Proof-of-Stake (PoS) consensus mechanism. This change drastically reduced issuance – from approximately 13,000 ETH/day to around 1,700 ETH/day – by eliminating the need to pay miners. Following these changes, ETH’s inflation rate fell below Bitcoin’s for the first time in March 2023. Since then, ETH’s supply has grown by only 0.2%, compared to Bitcoin’s 3%. The report states: Total supply of ETH fell between October 7th, 2022, and April 4th, 2024, moving from ~120.6M on to a low of ~120.1M on, achieving an annualized (-0.25%) inflation rate over the period. Since that time, ETH burn has been reduced due to the increase in Ethereum transaction throughput, and the network has accrued (+0.5%) in additional supply. Regardless, over that same period, BTC supply has increased (+1.1%). Companies Flocking To ETH Accumulation Over the past month, several companies have unveiled Ethereum-focused treasury strategies. For instance, cryptocurrency firm Bit Digital recently crossed 120,000 ETH in total holdings. Meanwhile, Bitcoin mining firm BitMine Immersion Technologies revealed that its ETH holdings had surged past 833,000 tokens, making it the largest known corporate holder of the digital asset. At press time, ETH trades at $3,643, up 2.3% in the past 24 hours.
7 Aug 2025, 03:18
Bitcoin's Volatility Disappears to Levels Not Seen Since October 2023
Bitcoin's (BTC) volatility meltdown continues as the cryptocurrency remains stagnant, with slow price action between $110,000 and $120,000. The cryptocurrency's 30-day implied volatility, as represented by Volmex's BVIV index, fell to an annualized 36.5% late on Wednesday, reaching levels last seen in October 2023, when BTC was trading below $30,000, according to data source TradingView. The new multi-year low in implied volatility suggests that options traders are not yet rushing for hedges, despite U.S. economic data raising concerns about stagflation. The demand for options, which are contracts used to hedge against or profit from price swings, is a major driver of an asset's implied volatility. The same thing can be said about stocks, where the VIX index has reversed Friday's spike from 17 to 21. The VIX measures the 30-day implied volatility in the S&P 500. BTC mirrors stock market volatility patterns BTC's implied volatility has been in a months-long downtrend, moving in the opposite direction of the cryptocurrency's price, which has surged from $70,000 to over $110,000 since November. The negative correlation marks a profound shift in bitcoin's market dynamics. Historically, BTC's volatility and its spot price moved in tandem, with volatility rising in both bull and bear markets. The change in this spot-volatility correlation is attributed, in part, to the growing popularity of structured products that involve the writing (selling) of out-of-the-money call options, analysts told CoinDesk . This new dynamic suggests that bitcoin is increasingly mirroring patterns on Wall Street, where implied volatility often dwindles during steady bull runs. Read: Bitcoin's 'Low Volatility' Rally From $70K to $118K: A Tale of Transition From Wild West to Wall Street-Like Dynamics
7 Aug 2025, 02:03
China Greenlights Launch Of Its First Crypto Stablecoin—Report
As part of an initiative to internationalize the renminbi (Chinese Yuan) and enhance its competitiveness against the US dollar, China is poised to launch its first stablecoin. Meanwhile, the US is making significant progress toward its mission of becoming the crypto capital of the world. Despite this ambitious plan, concerns about potential capital flight are reportedly hindering the rapid advancement of stablecoin technology within the country. China Explores Stablecoin Initiatives According to a report from the Financial Times, Hong Kong has emerged as a testing ground for cryptocurrency, particularly given the strict bans on the mainland. Recently, the territory passed legislation allowing licensed businesses to issue tokens backed by any fiat currency. However, the Hong Kong Monetary Authority (HKMA) has taken a cautious stance, indicating that only a limited number of licenses will be issued starting next year. Related Reading: Bitcoin Insult Alert: Pro Trader Dubs HODLers ‘Idiots,’ Saylor Fires Back Policymakers in China have increasingly turned their attention to stablecoins, recognizing the growing dominance of dollar-backed tokens in the global economy. The central bank governor, Pan Gongsheng, noted in a June speech that stablecoins have “fundamentally reshaped the traditional payment landscape.” However, the Chinese government faces a delicate balancing act; while it seeks to enhance the global standing of the renminbi, it must also maintain stringent controls over its financial system. Recent discussions among financial regulators have centered on the implementation of stablecoin projects, emphasizing that any such initiative must align with China’s unique national conditions. Yet, experts have cautioned that the risks associated with capital outflows could pose significant challenges. Interest Grows In Hong Kong Rebecca Liao, CEO of Saga, a company focused on blockchain infrastructure, articulated the complexities of adopting stablecoin technology, highlighting that it cannot be completely controlled by central authorities. This concern has contributed to Hong Kong’s slower progress in developing a thriving stablecoin market, especially when compared to the rapid growth observed in the United States. The HKMA has voiced apprehensions about the potential use of stablecoins in money laundering, emphasizing the need for stability and control in its new regulatory framework. As such, initial stablecoin programs in Hong Kong are expected to focus on business-to-business applications, limiting their broader adoption. Related Reading: Is The Bitcoin Bull Run In Jeopardy? Expert Reveals Strategy’s Alleged Plan To Sell All BTC Holdings The report emphasizes that interest in stablecoins is also growing among Chinese state-owned enterprises, particularly in the context of payment and settlement solutions. Multiple state-owned companies with operations in Hong Kong are reportedly looking to apply for stablecoin licenses, although only one of China’s four major state-owned banks is expected to receive a license from the HKMA in this initial phase. The HKMA has not ruled out the possibility of approving licenses for stablecoins backed by offshore renminbi, a move that could further facilitate cross-border payments—an area of increasing importance for China. Featured image from DALL-E, chart from TradingView.com
7 Aug 2025, 02:00
Bakkt Secures 30% Stake In Marusho Hotta, Rebranding As ‘Bitcoin JP’
Bakkt Holdings (BKKT), a key player in the crypto services sector, has announced a strategic move to acquire approximately 30% of the outstanding shares of MarushoHotta Co., Ltd. (MHT), a company listed on the Tokyo Stock Exchange (TSE). This massive acquisition, facilitated through a share purchase agreement with metallurgical company RIZAP Group, Inc., positions Bakkt as the largest shareholder of MHT. Incorporating Bitcoin Into MHT’s Treasury Management Plans As announced on Wednesday, part of this transaction will see Phillip Lord, the President of Bakkt International, assume the role of Chief Executive Officer at MHT. Under his leadership, MHT plans to incorporate Bitcoin (BTC) and other digital assets into its treasury management strategy. Furthermore, Bakkt has secured the domain name www.bitcoin.jp , which, pending approval from MarushoHotta’s shareholders, is set to become the new identity for the company. In a statement, Akshay Naheta, co-CEO of Bakkt, expressed enthusiasm for the opportunity, citing Japan’s regulatory environment as a favorable landscape for developing a Bitcoin-centric business model. He emphasized the intention to collaborate closely with MHT’s team to seamlessly integrate Bitcoin into their operational and financial framework , aiming to establish MHT as a foremost Bitcoin treasury company: Japan’s regulatory environment creates an ideal platform for a Bitcoin-centered growth business. We look forward to working with MHT’s team to integrate Bitcoin into their operating and financial model and to establish MHT as a leading Bitcoin treasury company. Bakkt Faces Setbacks As Stock Drops This acquisition aligns with Bakkt’s broader strategy to enhance its Bitcoin holdings. Recently, the company announced plans to raise up to $1 billion through various securities offerings, a move that reflects a growing trend among publicly traded companies to bolster their cryptocurrency reserves. The proposed offering includes shares of Class A common stock and pre-funded warrants, with underwriters being given a 30-day option to purchase an additional 15% of the shares sold, allowing for potential over-allotments. However, the timing, size, and terms of the offering remain contingent on market conditions. Despite these ambitious initiatives, Bakkt has encountered challenges. In March 2025, the company’s stock, BKKT , experienced a significant drop of 30% following news that two major clients, including Bank of America, would not be renewing their financial agreements with Bakkt. As of this writing, BKKT’s valuation closed Wednesday’s trading session at $9.77, up 2.5% for the day. However, the stock is trading over 70% below this year’s high of $31. Looking at a longer time frame, BKKT reached a record high of $1,271 in November 2021, which is nearly a 100% gap, further highlighting the firm’s challenges in recent years. Featured image from DALL-E, chart from TradingView.com
7 Aug 2025, 02:00
Indonesia Mulls Bitcoin Reserves as Brazil Joins Talks on Strategic Crypto Holdings
Indonesia and Brazil are taking a bold step toward modernizing their economic strategy by exploring the inclusion of Bitcoin in their national reserves. In a high-level meeting with Vice President Gibran Rakabuming Raka’s office, representatives from Bitcoin Indonesia presented a detailed proposal outlining how the country could use surplus renewable energy to mine and accumulate Bitcoin as part of a long-term economic development plan. Indonesian Bitcoin (BTC) Reserve Move Despite stringent crypto tax policies and a nationwide ban on using crypto for payments, Indonesian officials are reportedly receptive to the idea of a Bitcoin reserve for the economy. A key component of the discussion involved the importance of public education, with Bitcoin Indonesia advocating for awareness programs to improve understanding of Bitcoin’s economic potential. The group also shared macroeconomic projections, including Michael Saylor’s bullish forecast of Bitcoin reaching $13 million by 2045. With a stable inflation rate of 0.76% and a debt-to-GDP ratio of just 39%, Indonesia’s interest in Bitcoin is not driven by economic desperation but rather by a strategic vision to diversify its reserves and leverage untapped geothermal and hydroelectric energy for sustainable mining. Brazil Moves Forward with Crypto Reserve Legislation While Indonesia explores its options, Brazil is already advancing a national conversation on Bitcoin reserves . The country’s House of Representatives is scheduled to hold a public hearing on August 20 to debate a bill that could allow up to 5% of its treasury, approximately $15 billion, to be allocated to Bitcoin. Six key institutions, including Brazil’s central bank and finance ministry, will participate in the discussions. Though the bill faces opposition from some financial authorities, Vice President Geraldo Alckmin’s office has endorsed it as being in the national interest. This marks Brazil’s first-ever public hearing on crypto reserves and underscores a growing global shift toward the institutionalization of Bitcoin. A Global Trend Toward Sovereign Bitcoin Holdings Indonesia and Brazil join a growing list of nations, including the United States, Ukraine, Bhutan, and Kazakhstan, that are actively exploring Bitcoin as a strategic reserve asset. While motivations vary, from hedging against inflation to modernizing financial infrastructure, the trend is clear: sovereign Bitcoin reserves are no longer a fringe idea. As more governments assess the potential of digital assets, Bitcoin’s role in national economic strategies appears poised to grow significantly, signaling a transformative era in global finance. Cover image from ChatGPT, BTCUSD chart from Tradingview
