Novel

$BTC $ETH $XRP
Key Highlights:
1. Federal Reserve Ends Specialized Crypto Oversight:
• The U.S. Federal Reserve has decided to discontinue its “novel activities” supervision program launched in 2023 to monitor banks’ crypto and fintech ventures. Going forward, such oversight will be consolidated under its standard supervisory framework, reflecting enhanced institutional familiarity with crypto.related risks.
2. Record Trading Volumes in Spot ETFs:
• U.S. spot Bitcoin and Ethereum ETFs hit a new milestone this week with a combined trading volume reaching $40 billion. Ethereum ETFs contributed approximately $17 billion of that total underscoring rising institutional participation.
3. Crypto Market Pulls Back Amid Inflation Concerns:
• Crypto markets are reacting to a hotter than expected U.S. PPI (Producer Price Index), leading to a pullback from recent highs. Bitcoin dropped from a record to around $118–119K, while Ethereum slipped to the $4.4K–$4.6K range. The broader cryptocurrency market lost roughly $133 billion in value, though analysts characterize much of the move as healthy profit taking rather than a full scale reversal.