✅ The White House report on cryptocurrency welcomes achievements but lacks details regarding the reserve of digital assets
On Wednesday, July 30, a group that includes Treasury Secretary Scott Bessent, AI and cryptocurrency expert David Sachs, and other top officials published a 166-page report detailing the administration's new approach, which, according to Trump, will differ from that of his predecessor, President Biden, who had a tough stance against the blockchain industry.
The report outlines various priority areas for the White House moving forward, from adopting rules laid out in the Genius Act, a bill that establishes regulations for stablecoins, passed by Congress earlier in July, to modernizing anti-money laundering rules.
At a press briefing on Wednesday, senior administration officials called the report 'the most comprehensive product ever created regarding digital assets.' But while Congress discusses an ambitious bill to create restrictions around cryptocurrencies and exchanges, federal agencies are debating how to regulate this sector; the White House's work is just beginning.
Although Trump has fully embraced the role of crypto president, the mid-year report is not the first from the White House. The Biden administration published its own back in September 2022, just weeks before the collapse of Sam Bankman-Fried's FTX exchange.
Although the report is a major victory for the crypto industry, it still leaves certain questions open, including those regarding the future size of the federal government's crypto reserve. During the press conference, one official stated that the report focuses on the regulatory framework rather than the reserve, and said more information should be forthcoming soon.
The report also acknowledges the limitations caused by the fact that Congress has yet to pass a market structure bill that would establish more comprehensive regulations for cryptocurrency issuance and the operation of exchanges such as Coinbase. While the report calls on the SEC and CFTC to provide more clarity on key functions such as registration, custody, and trading, many market participants will remain in limbo as Congress continues to discuss legislation.
✅ Ethereum ETFs have seen inflows for 19 consecutive days — ETH remains strong
ETH ETFs experienced inflows for 19 consecutive days — totaling over $5.3 billion in July. ETH showed a record monthly growth of over 56%, demonstrating strong institutional demand.
✅ Ethereum outpaces Bitcoin: $219M raised versus $80M
ETH ETFs attracted $219 million, while BTC ETFs only saw $80 million. This indicates a shift in investor interest towards Ethereum and its growing priority in portfolios.
✅ Inflows into Ethereum exceeded $2.3 billion in a week
ETH ETFs attracted $2.31 billion over the last 7 sessions (including a day with $533.8 million inflow). This underscores the growing appetite of institutional investors for ETH.
✅ Syz Capital raises $200 million in a BTC fund — institutional interest is strong
Crypto hedge fund Syz Capital is preparing to raise 2,000 BTC (~$200 million). Commitments of 1,800 BTC have already been secured from family offices, companies, and funds. This is a strong signal of active institutional participation.
✅ The FED kept rates unchanged — Bitcoin rose, ETH is also in the positive
After the FED's decision to keep rates unchanged, BTC quickly recovered to around $118,752 (+0.5%), while ETH rose by 1.4%. Investors showed resilience despite macro shocks.
❌ Spot Bitcoin ETFs faced outflows after a long period of growth
After 12 days of inflows into Bitcoin ETFs, an outflow of $131 million was recorded on July 29. This could be both a profit-taking measure and a signal of the beginning of a consolidation phase.
