Crypto & Digital Assets
Financial plumbing, regulation, and institutional infrastructure of the digital asset industry — protocols, exchanges, stablecoins, custody, miners, tokenization, and spot ETFs.
GENIUS Act Passes in US Congress: A Breakdown of the Landmark Stablecoin Law
GENIUS Act signed into law July 18, 2025 — 1:1 reserve requirement, third-party audits, prohibition effective November 2026
US Stablecoin Regulation: GENIUS Act Implementation and Key Proposals
GENIUS Act implementation details; prohibition on non-compliant stablecoin issuance takes effect November 2026
Q1 2026 Real World Asset Tokenization Market Report
Total on-chain RWA (ex-stablecoins) reached $29-32B by Q1 2026; tokenized Treasuries at $13.4B; BlackRock BUIDL at $1.7B
The Ethereum ETF Yield War Has Begun: Why Staking Rewards Will Reshape Crypto Investing
SEC-CFTC joint interpretation March 17, 2026 classified staking rewards as non-securities; BlackRock ETHB launched March 12 with staking enabled
SEC and CFTC Issue Joint Interpretation on Crypto Asset Regulation
March 17, 2026 joint release groups digital assets into 5 categories; 16 tokens including BTC and ETH classified as commodities; drops enforcement-by-litigation model
Circle IPO: A Rosy Future Weighed Down by Coinbase Deal
Circle NYSE IPO June 2025 (CRCL); USDC supply ~$60B Q1 2026, growing 73% YoY; USDT at $184B, 65.6% market share vs USDC 26.3%
Next Steps for GENIUS Payment Stablecoins
Four unresolved GENIUS implementation issues; USD stablecoin supply ~$280B end-2025; EY: 5-10% of cross-border payments by 2030
RWA.xyz — A Letter to the Believers (Tokenization State, 2026)
~$600B represented / ~$30B distributed tokenized value; ~$300B stablecoins / ~300M holders; 2000+ assets across chains
2026 Institutional Crypto Outlook
BTC ETF AUM ~$120B; IBIT ~$70B/59%; public co BTC ~1.06M (4.7%); DAT raises $29B in 2025; Tether 63%/$185B
Bitcoin ETF Inflows Hit $2.44Bn in April as Institutional Demand Returns
April 2026 spot BTC ETF inflows totaled $2.44B; IBIT captured 70% share; cumulative inflows $58.72B, total AUM ~$102B
Citi and Morgan Stanley Expand Bitcoin and Crypto Custody, Trading and Tokenization Efforts
Morgan Stanley filed OCC national trust bank charter for crypto custody Feb 2026; Citi targeting 2026 custody launch
Bitcoin Mining 2026: AI Pivot, Profitability Pressure & Consolidation
Public miners pivoting to AI/HPC; listed miners could derive 70% revenue from AI by end of 2026; HPC-contract miners trade at 12.3x NTM vs 5.9x pure-play
Crypto Is Plugging Into Wall Street's Plumbing
JPMorgan Kinexys processes $1B+ daily; JPM Coin launched Canton Network Jan 2026 alongside Goldman, BNP Paribas, Deutsche Börse, BNY Mellon
BlackRock and Fidelity Tighten Grip on U.S. Spot Bitcoin ETF Market in 2026
IBIT+FBTC took >90% of inflows Jan 14 2026, ~79% May 1; BTC -29% YTD 2026