Crypto Weekly Market Wrap 30th June: Institutional Crypto Growth, U.S. Regulatory Proposals, and Market Inflows

Last week, the leading asset, Bitcoin, bounced back over $107k after briefly dipping to the $100k mark in the prior week. Several developments, such as Ripple ending its five-year court battle with the SEC, though some XRP sale limits remain in place, were on the table. In addition, major companies such as GameStop and Truth Social advanced toward Bitcoin and crypto ETFs.

On the regulatory side, Kraken obtained a MiCA license to operate in Europe, while Texas passed laws allowing Bitcoin reserves. Meanwhile, a U.S. senator proposed banning crypto ownership for top officials. In the section below, let us discuss the crypto weekly market wrap in deeper detail.

Ripple Ends Long Legal Dispute with SEC

Ripple Labs and the United States Securities and Exchange Commission decided to drop all the appeals. This is a significant regulatory development as the two sides are to seal the five-year legal case. The CEO of Ripple, Brad Garlinghouse, announced that it would withdraw the cross-appeal.

Ripple is dropping our cross appeal, and the SEC is expected to drop their appeal, as they’ve previously said. We’re closing this chapter once and for all, and focusing on what’s most important – building the Internet of Value. Lock in. https://t.co/ZsRgDfcpLh

— Brad Garlinghouse (@bgarlinghouse) June 27, 2025

The SEC further plans to withdraw its own appeal, as it has previously said. This last agreement comes after several unsuccessful settlement attempts, such as a rejected $50 million deal. Ripple underlined that now they would instead concentrate on expanding the Internet of Value. The legal shutdown provides clarity on XRP’s regulatory outlook.

Kraken Expands in Europe With MiCA Approval

Kraken obtained a license under MiCA from the Central Bank of Ireland. Through this, the exchange is able to operate in 30 markets in Europe with a single set of rules. Kraken is among a few large crypto firms that are completely in compliance with the new EU rules.

Arjun Sethi, co-CEO of Kraken, noted that the approval represents the organization’s desire to be a crypto-safe innovation leader. In addition to the license, Kraken introduced a money transfer application called Krak. The application enables users to make worldwide payments in 110 countries using more than 300 assets. Krak eliminates wallet addresses and banking information. One can now send money utilizing Kraktags, which is a simplified system of identifiers. The decision places Kraken in a race with massive fintech companies.

Texas Approves Bitcoin Reserves for State Use

Texas enacted Senate Bill 21, which allows the state to keep Bitcoin in a reserve fund. The bill was signed into law on June 21, 2025, by the governor, Greg Abbott. The fund is independent of the treasury and it is operated by the Texas Comptroller of Public Accounts.

Only those that have an average market cap of $500 billion in the previous year can be considered. The only asset that has met that threshold is bitcoin. SB 21 collaborates with House Bill 4488, which is legally provided to defend the reserve against being engulfed by the general funds. Moreover, Texas becomes the first American state to have an official crypto reserve system.

U.S. Senator Proposes COIN Act to Limit Crypto Holdings

The COIN Act, proposed by Senator Adam Schiff, aims to curb crypto activities by the top officials in the U.S. government. The bill would prohibit the President, Vice President, and other high-ranking officials from owning or even promoting digital assets.

Donald Trump and other senior administration officials have made a fortune off of crypto schemes.

Today, I'm introducing the COIN Act to put a stop to this corruption in plain sight. pic.twitter.com/8wieNSCPgC

— Adam Schiff (@SenAdamSchiff) June 23, 2025

The action comes after speculations that Donald Trump made more than $57 million in crypto investments. The COIN Act requires complete disclosures of the sales of digital assets that surpass a value of $1,000. Violators can be fined a civil penalty and imprisoned for a maximum of five years. Investing in stablecoins, NFTs, and meme tokens is also prohibited under the proposal. Schiff referred to ethical and constitutional issues touching on the abuse of public office. The bill focuses on transparency that lessens the conflict of interest in crypto transactions.

GameStop Raises $2.7 Billion, Considers More Bitcoin Buys

GameStop raised $2.7 billion in convertible senior notes, according to a SEC filing. The funds could be used to buy Bitcoin in the future as part of the company’s treasury. Previously, GameStop announced a purchase of 4,710 BTC worth $512 million. The notes are convertible at a premium and will mature in 2032. The CEO, Ryan Cohen, added that the company is not trying to copy other people but will do it their own way. The strategic shift of GameStop echoes the corporate desire to accumulate Bitcoin.

Truth Social Seeks ETF Listing for Bitcoin and Ethereum

In a bid to list the Truth Social Bitcoin and Ethereum ETF, NYSE Arca filed a rule change. If admitted, the ETF would contain 75% Bitcoin and 25% Ethereum. The product is run by Trump Media & Technology Group.

Crypto.com will offer liquidity, trading, and custody services. The ETF will adopt cold wallets that will be managed by the Foris DAX Trust Company. Such an arrangement guarantees security as well as efficiency throughout market cycles. The product enables exposure to both Bitcoin and Ethereum, but not directly. It is pending approval under the SEC 19b-4.

Bakkt Files $1 Billion Shelf Registration, Eyes Bitcoin Strategy

Bakkt Holdings filed a $1 billion shelf registration with the SEC. The firm will utilize the capital to make acquisitions of cryptocurrencies and for general company activities. Recently, Bakkt updated its policy and accepted Bitcoin as a treasury asset. The change was reportedly influenced by a recent fall in business with affiliates such as the Bank of America, co-CEO Akshay Naheta noted. Bakkt is transforming into a specialised crypto infrastructure company. The firm is also looking to dispose of its loyalty services unit.

The new strategy implemented by Bakkt concerns the extension of crypto payment opportunities. This shift shows the growing institutional interest in blockchain solutions. By enhancing its market focus, the firm will seek to re-establish itself in terms of regaining momentum.

Metaplanet Injects $5 Billion into U.S. Crypto Treasury

Metaplanet funded the U.S. subsidiary with $5 billion to enable the acquisitions of Bitcoin. The firm intends to purchase 210,000 Bitcoin before 2027, or 1% of the total supply. The initiative is going to be spearheaded by Metaplanet Treasury Corp, based in Miami.

*Notice of Additional Capital Contribution to U.S. Subsidiary* pic.twitter.com/5dWd5Y3s40

— Metaplanet Inc. (@Metaplanet_JP) June 24, 2025

The funding was in the form of stock purchasing rights approved earlier in June. The U.S market entry by Metaplanet aims at taking advantage of the robust market infrastructure and regulatory clarity. The new fund transfer is after a recent purchase of 1,111 BTC.

This is a part of the “555 Million Plan” that was announced earlier in June. Metaplanet considers Bitcoin a strategic reserve and a financial instrument. Furthermore, these activities place the company as one of the biggest corporate Bitcoin holders in the world.

OKX Eyes Public Listing After U.S. Market Return

OKX is exploring an IPO in the U.S. following the settlement of charges with the Department of Justice. In February, the company paid more than $500 million to re-enter the American market legally. After the settlement, OKX established its headquarters in San Jose. Roshan Robert was appointed as the U.S. CEO to manage the expansion. The management affirmed that public listing is being considered, yet has not been filed.

OKX has hundreds of workers in California and New York. An IPO in the future would further enhance its entries into the market and its legitimacy. Executives noted that an American listing is the route to follow in the event of the firm being made public.

ProCap to Go Public with $1 Billion Bitcoin Strategy

ProCap BTC, led by Anthony Pompliano, will become a public company via a SPAC merger with Columbus Circle Capital Corp. I. The company plans to have as much as $1 billion worth of Bitcoin and consider yield initiatives. ProCap issued non-voting preferred units of $516.5 million and bonds worth $235 million. The transaction is to be finalized by the end of 2025. ProCap is aiming to create a business model that actively involves Bitcoin.

The SPAC merger is a significant milestone in Pompliano’s crypto ambitions. The company will work as a publicly traded firm that offers BTC-supported services. Moreover, ProCap will offer the new financial resources through the digital assets.

Bit Digital Quits Bitcoin Mining to Focus on Ethereum Staking

Bit Digital has completely pulled out of Bitcoin mining. The Nasdaq-traded company will specialize exclusively in Ethereum staking, with more than 24,000 ETH worth $44.6 million in reserve. In order to facilitate this move, Bit Digital secured a $150 million public offering. It views staking as more environmentally friendly than mining. The shift aims to tap into PoS yields of up to 6.5% annually.

🚨JUST IN: 🇺🇸Bit Digital $BTBT doesn't understand #bitcoin and will sell their 417.6 BTC for ETH, yikes. pic.twitter.com/MT0V6qTh6u

— NLNico (@btcNLNico) June 25, 2025

The company will sell the rest of its 417 BTC and invest in Ethereum, which mirrors the increasing interest in ETH as an asset on the financial market. Bit Digital is revamping its approach to more sustainable, longer-term growth.

SharpLink Now Holds Over 188,000 ETH in Treasury

SharpLink Gaming secured a fund of $27.7 million to purchase additional Ethereum. The company increased holdings by 12,207 ETH to a total of 188,478 ETH at an average rate of $2,513 per ETH. At the beginning of June, SharpLink purchased its initial large ETH purchase. Chairman Joseph Lubin pointed out that ETH would continue to be a primary reserve asset in the firm. The firm has earned 120 ETH as a staking reward since its inception and currently ranks as the world leader in corporate ETH possession.

Ripple Connects to 35+ Chains Through Wormhole

Ripple partnered with Wormhole to facilitate the cross-chain transfer of assets in more than 35 blockchains. It is integrated on top of the XRPL mainnet and the sidechain is adaptive to EVM. Users are now able to transfer XRP and other assets across networks at a lower risk. In addition, project developers receive options to create cross-chain applications. The system enhances the cost, speed, and flexibility of using crypto.

Ripple also seeks to venture into decentralized finance and the tokenization of real assets. Wormhole guarantees safe data transmission, which enhances connectivity. This collaboration will help XRPL in its endeavor to become a financial multichain platform.

Invesco and Galaxy File for Solana ETF with Staking

Invesco and Galaxy Digital filed for a spot Solana ETF with the SEC. ETF with the symbol “QSOL” will have staking rewards and will make SOL accessible to U.S. investors in a regulated and secure form. Coinbase Custody would act as the custodian of the fund. Upon being approved, the ETF would be traded on the Cboe BZX Exchange. Furthermore, other than price exposure, the fund can generate yield too.

NEW: @InvescoUS (and @galaxyhq) just filed for a Solana ETF. That makes Nine issuers that have filed for a Solana ETF now. pic.twitter.com/iu3OZVO9Pg

— James Seyffart (@JSeyff) June 25, 2025

A number of other companies have lately applied to Solana ETFs. QSOL is a step towards growing demand in the field of SOL-backed investment products and emphasizes the increasing mainstream attention to crypto yield items.

Robinhood Adds Micro XRP and Solana Futures

Robinhood has introduced micro futures for XRP and Solana. These small contracts are directed to casual traders and new traders. The contracts are less capital-intensive and have a cash settlement. One micro XRP futures contract is equal to 2,500 XRP. Solana and Bitcoin contracts have similar terms. Moreover, Robinhood launched Bitcoin Friday contracts that had a weekly settlement. Such futures offer a trader additional trading opportunities and exposure, as Robinhood aspires to increase crypto derivatives accessibility. The addition will enable retail traders to diversify strategies.

World Liberty Financial to Release Stablecoin Audit

The Trump-connected crypto company World Liberty Financial announced the third-party audit of its stablecoin reserves. The update was revealed by co-founder Zak Folkman at the Permissionless conference in Brooklyn. The purpose of the audit is to enhance openness with the increasing political oversight. New governance model and liquidity characteristics are also being developed. The company will also introduce a new mobile application alongside the audit.

Hong Kong Issues New Crypto Development Framework

Hong Kong introduced the Digital Asset Development Policy Declaration 2.0. The proposal describes the new regulatory and expansion policies of digital assets, putting forward the LEAP model to serve as a development guide. According to financial secretary Chen Maobo, the goal is to be a world leader in innovation. Meanwhile, Guotai Junan International received a license upgrade. The firm can now offer virtual asset trading and advice. Its platform supports Bitcoin, Ethereum, and Tether directly.

Digital Asset Investment Products Market Overview

According to the CoinShares report, last week, the 11th week in a row of inflow, digital asset investment products attracted $2.7 billion. That puts first-half totals at $16.9 billion, almost equal to last year’s figure of $17.8 billion. The increasing interest in crypto has been aided by global political tensions and central bank policy uncertainty.

📈 Digital asset investment products saw inflows of US$2.7B last week.@Bitcoin and @ethereum saw inflows of US$2.2B and US$429M respectively. In contrast, short-Bitcoin investment products saw a further US$2.9M in outflows.

🇺🇸 + US$2.65B
🇨🇭 + US$23M
🇩🇪 + US$19.8M
🇨🇦 -… pic.twitter.com/nuAgMRaa9K

— CoinShares (@CoinSharesCo) June 30, 2025

The majority of the inflows last week were in the U.S., $2.65 billion. There were less substantial increases in Switzerland and Germany, whereas Hong Kong experienced consistent outflows. In June, Hong Kong suffered a total of $132 million in losses as investors responded to recent price changes.

Bitcoin dominated the market and attracted $2.2 billion, equaling 83% of all inflows. Ethereum came second with $429 million. Short-Bitcoin products continued to lose funds, while Solana recorded limited activity with only $91 million year-to-date.

Bitcoin Price Performance

Bitcoin posted a recovery path last week by gaining 5% pushing the price above the $108k mark. The price has been stabilizing around this region all throughout the week, as the price looks to challenge the all-time high. In addition, its market capitalization held above the $2 trillion mark. 

Looking at the technical indicators, BTC is forming an uptrend pattern as the bulls take the lead. Indicators such as the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) are trending in the positive region.

The histogram is forming green bars, indicating an increase in buying pressure as the selling pressure eases. Moreover, the RSI is hovering in the neutral region at 54 indexes, suggesting a further upward journey before reaching the overbought region.