This week, digital assets surged ahead as legacy giants entered the crypto space, stablecoin regulation gained legal clarity, and new institutional products sparked optimism for altcoins. From Bitcoin's all-time high to rising ETF volumes, here are the key market-moving headlines:

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1. Blackstone Adds Bitcoin to $1T Portfolio via IBIT ETF

In a major signal of institutional confidence, Blackstone disclosed ownership of 23,094 shares of BlackRock’s iShares Bitcoin Trust (IBIT) in a new SEC filing. This marks the first time the $1 trillion asset manager has publicly included Bitcoin exposure. Cryptopolitan

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Blackstone is one of the world’s largest and most conservative asset managers, managing over $1 trillion.

This is Blackstone’s first-ever Bitcoin allocation, disclosed in an official SEC filing.

The firm didn’t buy BTC directly: it chose BlackRock’s IBIT, validating Bitcoin ETFs as the preferred entry path for traditional finance.

It signals that Bitcoin is no longer speculative fringe, but a viable portfolio asset for global capital allocators.

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Impact: This validates Bitcoin as a legitimate asset class for traditional portfolios and adds credibility to ETF structures as a compliant access path. It could attract more legacy capital, from pension funds, insurance giants, and sovereign wealth funds, into BTC.

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2. U.S. Senate Passes GENIUS Act, Paving Way for Stablecoin Regulation

After last week’s delay, the GENIUS Act passed the Senate with over 60 votes. It creates a legal framework for stablecoins backed by USD or Treasuries and includes oversight provisions via the Fed. Chainalysis

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Impact: This marks a turning point for U.S. crypto policy, providing stablecoin clarity that could boost usage by institutions, payment processors, and dollar-backed DeFi platforms.

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3. CME Launches XRP Futures, Spot ETF Speculation Builds

The CME launched XRP futures on May 19, with $1.5 million in day-one volume. Block trades were executed by institutional desk Hidden Road. ETF analysts expect this to catalyze spot ETF approvals, with eight applications already filed. FinanceMagnates

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Impact: Institutional derivatives support may elevate XRP’s legitimacy and price outlook. Futures at CME often precede spot ETF approval, as was the case for Bitcoin and ETH.

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4. JP Morgan Enables Bitcoin Access for Clients

CEO Jamie Dimon announced at the investor day that JP Morgan will allow customers to buy and track Bitcoin, though it will not provide custody. Simultaneously, JP Morgan’s Kinexys platform settled tokenized treasuries on Ondo’s public testnet. CNBC

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Impact: JPM’s reversal adds immense weight to crypto’s institutional credibility. Access via a top bank could accelerate adoption among conservative capital allocators.

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5. Digital Asset Inflows Rebound to $785M, Led by BTC & ETH

ETPs saw their fifth straight week of inflows, totaling $785 million. Bitcoin led with $557 million, followed by Ethereum at $205 million. Year-to-date flows now exceed $7.5 billion, with IBIT capturing the bulk. Coinshares

Impact: Signals a strong recovery from the Q1 correction and growing institutional confidence in major assets.

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6. Bitcoin Hits New All-Time High Above $111K

Bitcoin broke through its January peak, touching a new ATH of ~$111,000, driven by macro volatility, ETF inflows, and sustained institutional demand. Coinmarketcap

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Impact: Reaffirms Bitcoin’s role as a macro hedge and cements its position in institutional portfolios.

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7. SEC ETF Filings: Flurry of Delays and Select Acknowledgments Continue

The SEC maintained its cautious stance on crypto ETFs, issuing multiple delays and selectively acknowledging new filings. SEC

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Delayed Decisions:

VanEck and Fidelity’s Spot Solana ETFs

21Shares and Grayscale’s Spot XRP ETFs

Grayscale’s Dogecoin ETF

Bitwise’s ETH Staking ETF

CoinShares’ Spot XRP ETF

Fidelity’s in-kind redemption structure for BTC and ETH ETFs

21Shares’ ETH Staking ETF

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Acknowledged Filings:

BlackRock’s Spot ETH ETF in-kind redemptions

Canary’s updated Spot Solana ETF S-1

Canary’s Staked TRX ETF

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Impact: The SEC’s continued delays reflect ongoing regulatory ambiguity, particularly for altcoins and staking-based ETFs. However, acknowledgments, especially for staking-related and redemption-based proposals, show regulatory frameworks are evolving. Investors remain cautiously optimistic as filings stack up and ETF infrastructure diversifies.

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Week 21: Bitcoin Breaks $111K, Blackstone Joins In, Stablecoins Go Legal

This week marked a decisive push toward mainstream adoption, led by institutional players embracing Bitcoin, stablecoins, and altcoin infrastructure. From Blackstone to JP Morgan and CME, the message is clear: crypto is moving deeper into traditional finance. As new highs are set and laws are passed, all eyes turn to ETF approvals and the next wave of capital rotation.

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Disclaimer: This blog is intended solely for informational purposes and is directed at our followers in Switzerland. It does not represent an opinion, legal, or investment advice, nor does it create any obligation or responsibility for FiCAS.