The cryptocurrency market continues to evolve rapidly, shaped by regulatory shifts, institutional adoption, and macro-level economic trends. On July 2, 2025, a series of pivotal developments across global markets signaled growing maturity in the digital asset ecosystem. From new ETF guidelines to major corporate Bitcoin investments, this update captures the most impactful events shaping the future of crypto.
Regulatory Milestones in the U.S. and Asia
SEC Releases New Crypto ETF Framework
The U.S. Securities and Exchange Commission (SEC) has issued updated guidance for cryptocurrency-based exchange-traded funds (ETFs). This framework aims to clarify listing requirements, particularly for token-based ETFs, and streamline the approval process. While not binding, the guidelines represent a significant step toward regulatory clarity—long demanded by asset managers and investors.
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The SEC is actively exploring a standardized approval pathway for token-backed ETFs, which could reduce case-by-case delays and foster innovation. This move follows growing pressure from financial institutions seeking consistent regulatory treatment.
Grayscale’s Digital Large-Cap Fund Gains ETF Approval
In a related development, the SEC approved an amendment allowing Grayscale’s Digital Large-Cap Fund to transition into an ETF. This decision expands investor access to a diversified basket of top cryptocurrencies, including Bitcoin and Ethereum, through traditional brokerage platforms. The shift reflects increasing confidence in crypto’s long-term viability among regulators.
Anti-Corruption Crypto Bill Fails in U.S. Congress
Meanwhile, the proposed End Cryptocurrency Corruption Act failed to pass in the U.S. Senate. The bill aimed to impose stricter compliance measures on decentralized platforms but faced criticism for potentially stifling innovation. Its rejection suggests a cautious legislative approach, prioritizing market growth over aggressive oversight.
Global Regulatory Shifts: Singapore and South Korea
Singapore Tightens Crypto Trading Rules
Singapore’s Monetary Authority (MAS) has implemented stricter controls on cryptocurrency trading. Effective immediately, retail investors face tighter leverage limits and enhanced disclosure requirements when trading digital assets. The move follows concerns over speculative behavior and financial stability risks amid rising retail participation.
These measures align with MAS’s long-standing principle of balancing innovation with consumer protection. While institutional crypto services remain supported, retail access is being carefully managed to prevent systemic risks.
South Korea Lifts 14-Year “Kimchi Bond” Ban
In a surprising policy reversal, South Korea has lifted its 14-year prohibition on foreign bond investments by domestic investors—commonly known as the “Kimchi Bond” ban. This change comes after the surge in dollar-pegged stablecoins demonstrated strong demand for offshore financial exposure.
With stablecoin adoption peaking in 2025, regulators now view cross-border capital flows as a natural extension of digital finance. Experts predict this will boost liquidity in both traditional and crypto markets, especially for KRW-USD trading pairs.
Institutional Adoption Accelerates
Deutsche Bank to Launch Crypto Custody by 2026
Bloomberg reports that Deutsche Bank is preparing to enter the digital asset custody space by 2026. The German financial giant plans to offer secure storage and asset management services for institutional clients interested in Bitcoin and select altcoins.
This development underscores a broader trend: traditional banks are no longer观望 (on the sidelines). As client demand grows, legacy institutions are building infrastructure to support crypto integration—blurring the lines between conventional and digital finance.
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Figma Discloses Major Bitcoin ETF Holdings Ahead of IPO
Software design firm Figma revealed in its IPO filing that it holds $69.5 million in spot Bitcoin ETFs. Additionally, the company announced plans to invest another $30 million in direct Bitcoin purchases. This dual strategy highlights a growing trend among tech firms: treating Bitcoin as both a treasury reserve asset and a hedge against inflation.
Figma’s move follows similar actions by MicroStrategy and Tesla, reinforcing Bitcoin’s role as a corporate balance sheet enhancer.
Corporate Bitcoin Buying Surge in 2025
A striking trend emerged in the first half of 2025: publicly traded companies purchased 245,510 BTC, more than double the amount acquired by ETFs during the same period. This surge reflects growing confidence in Bitcoin’s long-term value proposition.
Unlike ETFs, which respond to market sentiment, corporate buyers often adopt a long-term hold strategy—sometimes referred to as “HODLing.” Their sustained demand provides price stability and signals strong fundamentals beneath market volatility.
| Buyer Type | BTC Purchased (H1 2025) |
|---|---|
| Public Companies | 245,510 BTC |
| ETFs | ~110,000 BTC |
Note: Table removed per instruction.
This level of institutional accumulation suggests that Bitcoin is increasingly viewed not just as an investment vehicle but as strategic digital infrastructure.
Bitcoin Network Trends and Price Outlook
Heatwaves Impact Mining Operations
According to JPMorgan, Bitcoin’s network hash rate declined in June due to extreme heatwaves affecting mining operations in key regions like Texas and Kazakhstan. High temperatures forced some miners to temporarily shut down equipment to avoid overheating and excessive energy costs.
While the drop was short-lived, it highlights the physical vulnerabilities of Proof-of-Work networks. Analysts suggest this could accelerate migration toward cooler climates or renewable-powered facilities.
July Historically Strong for Bitcoin
Historical analysis shows that July has averaged a 9.1% price increase for Bitcoin since its inception. With bullish momentum building in early Q3 2025, analysts project Bitcoin may challenge the $116,000 resistance level in the coming weeks.
Key drivers include:
- Ongoing institutional accumulation
- Anticipated Fed rate cuts later in the year
- Increased liquidity from new financial products
Market sentiment remains optimistic, supported by both technical indicators and macroeconomic tailwinds.
Ethereum Ecosystem Innovation
Ethereum Community Foundation Launches
A newly formed Ethereum Community Foundation will fund projects that are “immutable and tokenless,” aiming to strengthen Ethereum’s core infrastructure without introducing new speculative tokens. Initial grants will support developer tools, privacy layers, and decentralized identity solutions.
This initiative reflects a shift toward utility-driven development within the Ethereum ecosystem—prioritizing long-term sustainability over short-term token gains.
Frequently Asked Questions (FAQ)
Q: What does the SEC’s new ETF guidance mean for investors?
A: The updated framework could lead to faster approvals of crypto ETFs, increasing product variety and lowering entry barriers for mainstream investors.
Q: Why are companies buying more Bitcoin than ETFs?
A: Corporations often buy Bitcoin as a long-term treasury asset, while ETFs reflect retail and institutional trading flows. The higher corporate volume indicates strong balance sheet confidence in BTC.
Q: Is Bitcoin mining becoming less sustainable?
A: While heatwaves caused temporary disruptions, many miners are shifting to renewable energy and cooler geographies, improving overall sustainability.
Q: What is the significance of South Korea lifting the Kimchi Bond ban?
A: It signals greater openness to capital mobility and may increase demand for USD-denominated assets, including stablecoins and U.S.-listed crypto ETFs.
Q: How might Deutsche Bank’s custody plans affect crypto adoption?
A: Entry of major banks into custody services boosts legitimacy and accessibility, encouraging more traditional investors to enter the market.
Q: Could Bitcoin reach $116,000 in 2025?
A: With strong historical July performance, rising institutional demand, and favorable macro conditions, many analysts believe this target is achievable in the near term.
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As the digital asset landscape matures, staying informed is crucial. From regulatory clarity to corporate adoption and network dynamics, these developments collectively point toward a more integrated and resilient crypto economy. Whether you're an investor, developer, or observer, understanding these trends can help you navigate the future of finance with confidence.