Last week, markets around the globe were affected by the delay in U.S.-China trade talks and the fear of rising tariffs. Changes in policies caused equities to fluctuate, and bonds and currencies adjusted accordingly. Uncertainty in trade relations caused investors to trade cautiously.
At the same time, cryptocurrencies attracted interest due to increasing investment from institutions and regulatory developments. Bitcoin prices remained high, but Ethereum faced stronger competition. Altcoins such as Pi Network saw significant price fluctuations, reflecting heightened market activity.
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In the section below, we will discuss this crypto weekly market wrap in detail, so read up to the end to get a full grasp.
Coinbase Joins the S&P 500 as First Pure Crypto Firm
Coinbase will become a part of the S&P 500, which monitors 500 leading American companies. The firm becomes the very first pure-crypto company listed in the benchmark index.
🚀 HISTORIC MOVE: Coinbase Joins S&P 500 on May 19!
First Crypto Firm: Coinbase (COIN) replaces Discover Financial in the S&P 500, marking a major milestone for crypto adoption.
Market Impact: Inclusion means index funds/ETFs tracking S&P 500 must buy COIN shares, boosting…
— Bitcoin Weirdo (@Bitcoin_Weirdo) May 13, 2025
Listing on Coinbase improves Coinbase’s reputation and indicates that more people are accepting cryptocurrencies. Before the market opens on May 19, Coinbase will replace Discover Financial Services in the index. As a result of this, Coinbase now stands alongside large firms like Apple, Microsoft and Nvidia.
Market capitalization is used to determine the S&P 500’s weighting. It is expected that Coinbase will fall in the bottom 400 firms, with a weight ranging from 0.01% to 0.2%. Since ETFs and funds following the index now include Coinbase shares, demand for the shares on the Nasdaq may rise.
Conor McGregor Discusses Bitcoin Reserve with El Salvador’s President
Ex-UFC champ and Irish presidential runner, Conor McGregor, is planning to meet with El Salvador’s President Nayib Bukele. The focus of the discussion will be on creating a strategic national Bitcoin reserve in Ireland. McGregor believes that by creating the Bitcoin reserve, “return monetary power to the people.”
The meeting has been scheduled as part of the Bitcoin Sovereignty Summit. As an independent candidate, McGregor endorses cryptocurrency and sees a Bitcoin reserve as useful for the Irish economy. Regardless of international criticism, the plan borrows ideas from El Salvador’s ongoing Bitcoin purchases.
Ireland may consider emulating Michael Saylor’s approach to Bitcoin. Still, McGregor needs to obtain approval from lawmakers and the central bank. However, his idea has drawn the interest of cryptocurrency experts for what it could achieve.
Ukraine Plans National Bitcoin Reserve with Binance Partnership
A national Bitcoin reserve fund may soon be in place in Ukraine. Binance is a globally renowned crypto exchange and is participating in this cooperation. Deputy Chairman of the Parliament’s Finance Committee, Yaroslav Zhelezniak, revealed that the bill is finalized and will soon be sent to Parliament.
The objective of this national reserve is to bring Bitcoin into Ukraine’s financial system. Government officials are putting efforts into creating and formalizing the fund by drafting and passing laws. Working with Binance aims to make use of their expertise in managing and developing funds. The final version of the bill is being reviewed for adherence to regulations. Ukraine’s decision points to a rising number of countries interested in cryptocurrencies. This initiative could lead Ukraine to join the group of countries seeking to incorporate Bitcoin into their national reserves.
SEC Hacker Sentenced to 14 Months in Prison
The 26-year-old Eric Council Jr. received a prison sentence of 14 months for breaking into the U.S. Securities and Exchange Commission’s (SEC) X account. The hack was carried out by publishing a false announcement that the SEC has approved the spot Bitcoin ETFs. Council admitted to committing conspiracy and identity theft.
Alabama man sentenced to 14 months in prison
for hacking the SEC’s X account and posting a fake Bitcoin ETF approval tweet. pic.twitter.com/JS6gNSi7nG— TFTC (@TFTC21) May 16, 2025
The court documents noted that the Council posed as an SEC employee to obtain control over the SEC’s phone and social media access. Afterward, his partners utilized the SEC’s X account to post the untrue Bitcoin ETF approval tweet in January 2024. The SEC revealed that the announcement was made without its permission.
Officials in the Justice Department indicated that these schemes could threaten the integrity of the markets. The attack uncovered issues with the security of social media accounts. The council’s sentence reflects the severity of crimes involving financial misinformation and identity theft.
MetaMask Co-founder Hints at Possible Launch of MASK Token
MetaMask’s co-founder, Dan Finlay, pointed out that the company could launch its own token called MASK. Finlay responded “Maybe” as a reply to being asked about token issuance on The Block’s “Crypto Beat” podcast. He also noted that an announcement would come up directly within the wallet app.
The goal of MetaMask’s token is to promote decentralization rather than create excitement or trends. Previously, the project discussed how it could roll out a token and a developer DAO. Finlay informed users to ignore bogus information or links that claimed a new token was being introduced.
He mentioned that some of the changes in regulation under the present U.S. administration could increase the safety of token issuance. Still, securities laws continue to be in effect despite changes in regulations. MetaMask wants to be transparent about any token launch with its users.
Pi Network Launches $100 Million Investment Fund
Pi Foundation introduced Pi Network Ventures, a new venture capital fund worth $100 million. The objective of the fund is to finance startups and companies involved in supporting the growth of Pi Network. The funding consists of PI and a set amount of cash for supporting the ecosystem.
The firm plans to fund early-stage start-ups as they reach their Series B stages. The idea is to increase the usefulness of Pi tokens by inspiring and encouraging their adoption in numerous industries. The fund aims to create a feedback loop of investment and further grow the ecosystem. The foundation calls the program strategic, keeping in mind long-term growth. Pi Foundation intends to contribute to projects that include its token in their products and services. Moreover, the initiative aims to increase the number of people using the network and its activity.
Ethereum Foundation Launches Trillion-Dollar Security Initiative
The Ethereum Foundation launched the “Trillion Dollar Security” (1TS) initiative to improve security on the network. It is designed to ensure that each user and business retains trillions of dollars in on-chain assets. Ethereum Foundation revealed the plan during already growing issues in the network.
GM
🔒The Ethereum Foundation is launching an initiative called «Trillion Dollar Security».
The main goal of this initiative is to increase the reliability of the Ethereum ecosystem to such a level that trillions of dollars can be safely stored in it, ranging from users with… pic.twitter.com/i3s5gmCrpg
— Captain GM (@g13m) May 14, 2025
1TS will put effort into wallet security, ensuring the safety of smart contracts and providing education to the public. The foundation plans a multi-step approach involving ecosystem input, gap assessments, and targeted improvements. Certain changes will happen instantly, but some will take more time and involve a team effort.
Twenty One Capital Joins Bitcoin Accumulation Race
Twenty One Capital, backed by Tether, Bitfinex, SoftBank and Cantor Fitzgerald, purchased 4,812 BTC for a total of $446.9 million. Following its launch on April 22, the company completed a $458.7 million deal. The company now has more than 42,000 BTC after completing the acquisition.
As a result, the firm ranks in the top three publicly listed firms for holding Bitcoin reserves. It trails MicroStrategy and Mara Holdings in holding BTC. The acquisition was made with Tether and will go through after merging with Cantor Equity Partners. Twenty One Capital aims to increase its involvement in the digital asset sector through this move. The firm’s behavior demonstrates a rise in institutions choosing Bitcoin as an investment.
Abu Dhabi’s Mubadala Invests Over $408 Million in BlackRock’s Bitcoin ETF
Mubadala Investment Company from Abu Dhabi purchased $408 million of BlackRock’s iShares Bitcoin Trust (IBIT). With over $300 billion under control, Mubadala made the purchase of 491,000 IBIT shares in Q1 of 2025. The number of shares owned by the company totaled 8.7 million.
The investment is one of the biggest known sovereign wealth fund investments in a Bitcoin ETF. This demonstrates that institutions are increasingly interested in gaining access to Bitcoin via ETFs. This approach by Mubadala shows they are slowly but surely including cryptocurrencies in their traditional investment assets. By making this purchase, global investment strategies are advancing toward including crypto assets. In addition, it proves that institutions are confident in the use of ETF-based Bitcoin products.
Brazilian Fintech Méliuz Becomes First Bitcoin Treasury Company
Brazil’s top fintech, Méliuz, purchased $28.4 million worth of Bitcoin, becoming the nation’s inaugural Bitcoin treasury company. The company holds 320.2 BTC, after its shareholders passed a resolution for a 10% investment in Bitcoin. Méliuz commenced buying BTC in March 2025.
Historic day! Our shareholders have approved, by a wide majority, the transformation of Méliuz into the first Bitcoin Treasury Company listed in Brazil.
And today, we took another step forward:
Acquired 274.52 BTC for US$ 28.4M
Average price: US$ 103,604
Achieving a BTC Yield of… pic.twitter.com/y12JlKwW6N— Israel Salmen (@IsraelSalmen) May 15, 2025
Israel Salmen, the Chairman, said the average token bought was priced at around $103,600 and the yield to date was 600%. The company intends to assess the potential risks, opportunities, and changes in policies related to Bitcoin used as a strategic asset. In addition, the research will review different strategies for generating incremental Bitcoin.
Becoming a Bitcoin treasury company is considered a significant event for Brazil’s crypto landscape. The final decisions and updates are expected to be available after 45 to 60 days.
eToro Prices IPO at $52 Per Share
eToro is planning to raise around $620 million in its U.S. initial public offering (IPO). The firm will offer 11.92 million shares for $52 apiece, against the original range of $46-$50 per share. The ETOR ticker on Nasdaq opened trading on May 14. Earlier, it was anticipated that $500 million would be raised by selling 10 million shares. eToro will sell 5.9 million shares from the company and current shareholders will provide 5.9 million. The sale remained open until May 15 at the earliest.
Coinbase Reveals Cyberattack Targeting Customer Data
Coinbase revealed that hackers gained entry by bribing overseas support agents. The information of customers was stolen by attackers and then used to carry out social engineering attacks. However, Coinbase noted that only a very small portion of its customers’ data was exposed.
In order to avoid exposing the data to the public, hackers set a ransom of $20 million. Law enforcement was notified by Coinbase, as the company refused to pay. The company dismissed the employees linked to the issue and sought to press charges.
The data included people’s names, addresses, phone numbers, email addresses, masked bank account numbers, government IDs and account balances. The hack did not affect passwords, private keys and Coinbase Prime accounts. Furthermore, Coinbase created a $20 million fund to reward anyone who provides information leading to arrests linked to hacking.
Digital Asset Investment Products Market Overview
Digital asset investment products recorded inflows of US$785 million last week, marking the fifth consecutive week of gains, according to the CoinShares report. These inflows pushed year-to-date totals to US$7.5 billion, surpassing the previous peak from early February. This also offset the near US$7 billion of outflows seen during the February–March market correction.
📈 US$785m Weekly Inflows, sentiment continues to recover in Ethereum
Digital asset inflows hit US$785m last week fully recovering February–March outflows. @Bitcoin attracted US$557m in inflows while @ethereum was the standout performer, with US$205m in inflows.
🇺🇸 + US$681m… pic.twitter.com/hgOc7acW2u
— CoinShares (@CoinSharesCo) May 19, 2025
Bitcoin attracted US$557 million in inflows, although this was lower than the prior week. Meanwhile, short-bitcoin products saw inflows of US$5.8 million for a fourth straight week, reflecting shifting investor strategies amid recent price changes. Ethereum led last week’s inflows, drawing US$205 million and pushing its year-to-date total to US$575 million. This rise follows the successful Pectra upgrade and the appointment of Tomasz Stańczak as co-executive director. Solana was the only exchange-traded product to report outflows, with US$0.89 million leaving the market.
Regional sentiment varied, as the US, Germany, and Hong Kong recorded inflows of US$681 million, US$86.3 million, and US$24.2 million, respectively. Notably, Hong Kong saw its largest inflow since November 2024. Other regions showed different trends. Sweden, Canada, and Brazil faced outflows of US$16.3 million, US$13.5 million, and US$3.9 million, respectively.
Bitcoin Price Performance
The flagship cryptocurrency, Bitcoin, recorded its highest weekly close ever at $106.5k, edging past the previous record of $102.6k. During the week, BTC traded in a range-bound between $100.8k and $105.6k, recording a decline of 1.30%. Despite the slight decline, BTC is up 20% on the monthly chart.
🐂BULLISH: Bitcoin's Weekly close yesterday was the highest weekly close EVER.
Will we break the all-time-high this week? pic.twitter.com/JunCDisv2Y
— Coin Bureau (@coinbureau) May 19, 2025
Technical indicators on the weekly chart signal signs of exhaustion from the recent price rally. The price has formed a red candlestick signal after a series of positive trading trends. The Relative Strength Index (RSI) has shifted its upward trajectory at the 64 index, suggesting a cool-off or consolidation period for the Bitcoin market.
Despite the consolidation signs, the Moving Average Convergence Divergence (MACD) indicator indicates an increase in buying pressure as the MACD line climbs above the signal line in the positive region. In addition, green bars are ruling the chart, indicating a robust bullish momentum.
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