The REX-Osprey Solana staking ETF (SSK) surpassed $200 million in cumulative flows for the first time on Sept. 11, amid Solana’s (SOL) strong price action.

Trading under ticker SSK, the fund struggled with adoption during its initial months, recording zero activity on four of six trading days through Aug. 8, according to Farside Investors data.

The pattern reflected broader institutional hesitation toward Solana-focused investment products compared to Bitcoin and Ethereum alternatives.

Analysts attributed the slow start to structural complexity rather than demand deficiencies.

Additionally, the fund operates outside standard SEC-registered spot ETF frameworks, incorporating staking mechanisms and offshore ETF allocations that differentiate it from traditional cryptocurrency products.

At 0.75% annually, SSK’s management fee positions at the higher end of crypto ETF expense ratios compared to major Bitcoin and Ethereum funds charging 0.15% to 0.25%.

Shifting tides

However, institutional sentiment shifted in late August, following announcements about corporate Solana treasury strategies.

Galaxy Digital, Multicoin Capital, and Jump Crypto announced they were pursuing $1 billion to assemble a Solana treasury through a public company vehicle, with Cantor Fitzgerald serving as lead banker.

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The companies committed cash and stablecoins to Forward Industries, which closed a $1.65 billion private placement on Sept. 11.

In addition, SOL Strategies secured Nasdaq approval to begin trading on Sept. 9 as a Solana-first investment vehicle.

Institutional flows

Institutional flows reflected the momentum shift. Solana exchange-traded products (ETPs) registered $177 million in inflows during the week of Aug. 25-29, representing the largest altcoin flow excluding Ethereum.

The first week of the month saw Solana products dominate altcoin flows with $16.1 million, while Ethereum ETPs experienced $912.4 million in outflows. The institutional interest coincided with Solana’s growth in its DeFi ecosystem.

DefiLlama data shows that Solana crossed $13 billion in total value locked for the first time on Sept. 12.

This backdrop provided fundamental support for a price advance that lifted SOL by 20% in September. On Sept. 12, SOL grew 5.5% to reach a $241.84 high, its highest price level since Jan. 30.

Mentioned in this article

08 September Bitfinex Securities approaches $250 million tokenized securities milestone and sets up plans to acquire a full Astana International Finance Center license

Astana, Kazakhstan – September 8, 2025 – Bitfinex Securities, a regulated platform that allows entities to raise capital through a list of tokenized securities, has submitted an application to migrate from the Astana International Finance Center (AIFC) Fintechlab to confirm that it will be an accredited investment exchange.

Bitfinex Securities joined AIFC’s Fintech Lab in September 2021, a regulatory sandbox that supports the development of the local financial industry. Since then, it has issued $206 million worth of tokenization securities at AIFC Fintechlab, which includes Mikro Kapital’s regular tokenization bond program. Bitfinex Securities has been licensed separately from El Salvador since April 2023.

The Bitfinex Securities licensing expansion plan in Astana is of course, as the platform has shown significant momentum to assert Bitfinex Securities’ growth, as it confirms that it reaches $250 million tokenized assets across the platform. This year we have already seen many highlights, including:

• The direct list of Titan1 and Titan2, the first tokenized share issuance of Bitfinex Securities, amounts to a total of 143 million Gbp.
• Full redemption of Mikro Kapital’s first tokenized bond paid USDT 630,000.
• The direct list of Blockstream Mining Note 2 (BMN2) allows for secondary market trading opportunities of just under $9, based on fair value.

“We’re looking forward to seeing you in the process of doing things,” said Paolo Ardoino, CTO at Bitfinex Securities. “We continue to thank the support we have received from AIFC, a proven innovator in regulating digital assets. We confirm that we apply the upgrade to a full license in Astana after a successful initial license period. A regulatory environment to attract and nurture companies such as Bitfinex Securities.”

“We’ve seen the best of our customers,” said Jesse Knutson, operations manager of Bitfinex Securities. “To approach $250 million with tokenized assets on the platform is a significant milestone and a marker of trust we built together with the issuer. Given that all listings are supported by the liquid network, the Bitcoin ecosystem emphasizes that it plays a significant financial role. It continues to grow. We look forward to expanding our listings to make Bitfinex securities an outstanding platform for the full range of tokenized assets.”

Bitfinex securities are also regulated in El Salvador and were the world’s first international digital asset platform licensed under the country’s digital asset issuance law.

About Bitfinex Securities

Founded in 2021, Bitfinex Securities is looking to transform global capital markets by leveraging technological advances in the digital asset industry. With real-time payments, 24/7 trading capabilities, access to global liquidity and self-support, Bitfinex Securities aims to create more efficient, cost-effective, and seamless interactions between investors and issuers. Bitfinex Securities is licensed and regulated at the Astana International Financial Centre in Kazakhstan and El Salvador.

Bitfinex Securities Media Contact Information

(Email protection)

]]> https://earlybirdsinvest.com/bitfinex-securities-approaches-250-million-tokenized-securities-milestone-and-sets-up-plans-to-acquire-a-full-astana-international-finance-center-license/feed/ 0 57514 https://earlybirdsinvest.com/ethereum-scores-milestone-as-chinese-firm-floats-1st-public-rwa-bond/ https://earlybirdsinvest.com/ethereum-scores-milestone-as-chinese-firm-floats-1st-public-rwa-bond/#respond Tue, 02 Sep 2025 14:14:00 +0000 https://earlybirdsinvest.com/ethereum-scores-milestone-as-chinese-firm-floats-1st-public-rwa-bond/

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China has taken another step into blockchain-based finance, but in a way that avoids direct involvement with cryptocurrencies.

A state-owned firm in Shenzhen has launched a digital bond offering on Ethereum, showing how the country is selectively embracing new technology while keeping its hard stance on crypto trading in place.

First State-Backed RWA Bond On Ethereum

According to reports, Futian Investment Holding completed a 500 million yuan issuance of offshore bonds on August 29.

The bonds, equal to nearly $70 million, were rolled out in Hong Kong and listed on the Ethereum blockchain. They carry a 2.62% annual interest rate and will expire in two years.

The company described the deal as part of an effort to expand its funding sources while also responding to the growing use of real-world assets and tokenization in global markets.

It also pointed to Hong Kong’s supportive policies as a factor in the decision, saying the bond aligns with the district’s push to attract digital asset innovation.

#UZX BREAKING NEWS #RWA

Futian Investment Holding Announces Issuance of the World’s First Public RWA Digital Bond on a Public Blockchain pic.twitter.com/E2sGIJZdwl

— UZX Official (@UZX_Official) September 2, 2025

Crypto Still Off-Limits At Home

The move does not mean that China has softened its ban on crypto or Ethereum. Back in 2021, Beijing imposed a full ban on crypto mining and trading.

Officials at the time said the measures were needed to control energy use and to guard against risks that might destabilize the country’s financial system.

BTCUSD trading at $110,388 on the 24-hour chart: TradingView

That ban remains in effect today. Ordinary citizens and companies in mainland China are still blocked from using or trading cryptocurrencies.

What is allowed, however, are limited experiments like tokenized bonds that stay within the bounds of traditional finance.

Hong Kong As A Testing Ground

By routing the deal through Hong Kong, Beijing can keep its domestic ban intact while still signaling that it wants exposure to blockchain-based finance.

The bustling metro has been given more room to try out digital asset projects, and this latest bond fits into that role.

China’s strategy delineates a clear split: blockchain as a tool for finance is embraced in regulated manifestations, while crypto as an unfettered market asset is still off-limits.

Stablecoins, particularly dollar-denominated stablecoins, have also attracted scrutiny in Beijing, with officials concerned that they can undermine other currencies based around the world.

Reports suggest this RWA bond may be the first in a series of state-backed blockchain and Ethereum financial products tied to Hong Kong.

For now, the issuance shows China’s intent to cautiously explore blockchain without reopening the door to Bitcoin, stablecoins, or wider crypto adoption.

Featured image from Agoda, chart from TradingView 

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.

Ripple’s stablecoin RLUSD grew 32.3% in supply between June and July, surpassing $600 million.

This was the second most significant growth in supply among stablecoins with over $500 million in supply growth, lagging only Ethena Labs’ USDe, which grew 63.4% in the same period.

RLUSD has been in a strong growth trend since May, nearly doubling its supply as of July 31. The stablecoin’s market cap jumped from $309 million to $455.3 million between May and June, an over 47% increase. In August alone, it had already grown 3%.

Furthermore, RLUSD surpassed $11 billion in cumulative transfer volume in 2025. The stablecoin registered a new monthly all-time high in July, with $3.3 billion in volume across different venues, an amount 27% larger than June.

Notably, RLUSD has never dipped below $1 billion in monthly trading volume since April, when it crossed this threshold for the first time by registering $1.8 billion in volume.

The growth occurred in the same month that Ripple made efforts to increase RLUSD’s market share.

First, Ripple CEO Brad Garlinghouse announced the company was seeking a national banking charter for RLUSD. In addition to the stablecoin’s registry with the New York Department of Financial Services, this would make RLUSD the first stablecoin under state and federal oversight in the US.

On July 9, Ripple announced BNY Mellon as its custodian partner.

The company then moved to a multi-pronged global strategy to expand RLUSD’s market share. In the United States, the Federal Reserve’s formal adoption of the ISO 20022 messaging standard rewarded Ripple’s positioning as the first blockchain-focused company to join the ISO 20022 Standards Body in 2020.

At the same time, Ripple is reportedly advancing a significant entry into the European market by making RLUSD MiCA-compliant, anchoring the effort with a strategic base in Luxembourg.

However, not everyone is convinced that RLUSD’s growth is organic. Blockchain investigator ZachXBT questioned if Ripple’s stablecoin user base was authentic, before deleting its social media post.

Voicing his concerns differently, the investigator said he trusts other stablecoin issuers “infinitely more than Ripple,” such as Circle, Paxos, and Tether.

Mentioned in this article

Cardano (ADA) has achieved a significant milestone with the successful completion of its first-ever on-chain governance vote. For the first time, core development funding has been directly approved by the Cardano community, marking a significant step forward in the blockchain’s transition to fully decentralized governance. Reacting to the milestone, Cardano’s founder, Charles Hoskinson, shared his thoughts on the network’s progress. 

Cardano Enters New Era Of Decentralized Governance

The Cardano ecosystem has reached a pivotal moment in its growth and evolution, marking a historic milestone with the recent execution of its first governance vote. The landmark event signals the beginning of a new phase for the blockchain, where decisions around core development funding are now being made directly by the community rather than centralized entities.

Related Reading

Hoskinson publicly acknowledged the significance of the event in an X social media post on August 3. He praised the community for their support and trust, reinforcing the belief that decentralized governance is not just a vision but now an operational reality within the Cardano ecosystem. 

Hoskinson’s remarks came in response to an earlier post by Input Output Global (IOG), a blockchain research and development company behind Cardano’s development. IOG had commemorated the blockchain’s recent governance achievement by stating that the Cardano community had officially made history. 

The governance vote had approved direct funding for core development initiatives, representing a foundational shift in how the Cardano ecosystem grows and evolves. Rather than relying on a small group of decision-makers, the blockchain now empowers its global community to determine resource allocation collectively. Input Output Global praised both Cardano and its community’s efforts, calling the recent milestone the beginning of a new era of decentralized governance. 

Notably, the broader crypto community is already responding with enthusiasm, with many offering congratulations and support as Cardano celebrates this landmark event. The network’s successful governance vote sets a powerful precedent in the crypto industry, showcasing the potential of a blockchain governed directly by its users. 

Cardano Becomes Only Top 10 With On-Chain Governance 

In addition to its historic governance vote, Cardano has emerged as the only top 10 cryptocurrency by market capitalization to implement on-chain governance, setting a new benchmark for how blockchain ecosystems are managed and governed. 

Related Reading

According to a report by Cardanians (CRDN) on X, the blockchain’s governance framework is actively functioning, with 39 treasury withdrawal proposals currently open for voting. These proposals allow Delegated Representatives (DReps) and the broader community to directly participate in shaping the ecosystem by deciding which initiatives receive funding and move forward.

As of now, none of the other top 10 blockchains, including Bitcoin, Ethereum, XRP, USDT, Binance Coin, Solana, USDC, Tron, and Dogecoin, have matched Cardano’s level of on-chain decision-making power. While these cryptocurrencies continue to lead in various areas, Cardano stands out as the 10th-largest cryptocurrency by market cap with a uniquely advanced governance system.

Featured image from Adobe Stock, chart from Tradingview.com

Despite the recent choppy market, Bitcoin has remained stable at over $118,000 and is currently trading at $118,204.60. Is this the best code to buy now as another Bull Run market gear?

That’s what speculators tend to think. BTC ruled out the sales pressures and minor pullbacks they witnessed last week. Your next goal could be somewhere between $127,000 and $132,000. However, caution must be paid, as the crypto market is known to make a sudden 180-degree turn.

(btcusd)

Investors are looking carefully at BTC and guessing whether BTC has another breakout moment or buckle under volatility.

My analysis shows that during the 2020 Fed rate cut, Bitcoin prices rose by around 50% over the next six months, while Ethereum prices rose by around 30%.

– Juan Jose Francisco () (✧ᴗ✧) (@jjframac) July 27, 2025

For those interested in investing, the mantra is to wait for a good breakout before placing a bet on the Crypto King.

Global M2 Money Supply has reached ATH. Is Bitcoin the best code to buy now?

With global M2 money supply reaching an all-time high, many on X and Reddit are discussing the broader concept of crypto-bull runs. As a broader measure of liquidity, M2 includes physical currency, current account balances, savings and deposits, money market instruments and other near-speed assets.

M1 measures money in a transaction strictly, while M2 scopes money that is readily available for investment and therefore serves as a key indicator of global liquidity and inflationary pressures.

The current increased M2 is directly correlated with new government stimulus efforts and liquidity injections, including quantitative mitigation programs.

A quick look at historical data reveals a clear link between M2 growth and climbing asset prices, with demand for excessive liquidity drives between stocks, real estate and crypto.

blobal Global M2 Money Supply hits a new AS!

Ignore the noise. Follow the liquidity.

This is bullish #bitcoin And the code. pic.twitter.com/D72GHSG6G6

– Crypto_auris (@crypto_auris) July 26, 2025

BTC historically has a strong correlation ranging from 0.65 to 0.89, with M2 expansion, and often follows fluidity shifts for 12 to 90 days. This indicates that as Fiat’s purchasing power decreases, investors’ demand rises against rare inflation-resistant assets such as BTC.

When appropriate, the pandemic era stimulus supported 25% of global M2 surges between 2020 and 2021. This coincided with the rise in BTC between $10,000 and nearly $69,000, highlighting how fixed supply assets attract speculative capital when they oppose liquidity overflow.

sauce

The M2’s latest spikes have speculators circling the $150,000 mark as the next potential BTC bull target.

Explore: Best New Cryptocurrencies to Invest in 2025

Pudgy Penguins refuses to acquire Opensia

by Arijit Mukherjee

On social media, speculation was raging that users claimed that Pudgy Penguins had acquired NFT Marketplace Opensea. This came after X users unearthed an October 2024 post. There, CEO Luca Netz shared his intention to buy Opensea.

Community members speculated that there could have been a behind-the-scenes deal as early as December 2024 due to the acquisition of Opensea.

On July 26, 2025, Beau, security officer at Pudgy Penguins, was forced onto the story via X’s post, stating, “Pudgy Penguins didn’t buy Opensea… cold.”

He added, “Please talk about Lufthansa’s partnership with NASCAR and try and go and find the next great brand.”

I think there’s more to emphasize that what’s going on is confirmed in the Bull Post!

I don’t think it actually means a lot to us to get an OS RN.

– Beau (@beausecurity) July 26, 2025

The entertainment company has increased the brand’s presence through a recent collaboration between NASCAR and Lufthansa. Additionally, with the launch of Pengu Clash, a skill-based mini-game built on the Ton (Open Network) blockchain, it has challenged Web3 games.

Explore: 9+ Best High Risk, High Reward Crypto Buy in July 2025

Gallup survey shows that there are no crypto takers in the US

by Arijit Mukherjee

According to a June 2025 survey by Gallup issued on July 22, 2025, only 14% of US adults own cryptocurrencies, while 60% have no intention of purchasing. Since 2021, there has been an increase in the Asset class. However, it remains a fringe investment for the majority, and has obstacles to its risk awareness and low understanding.

Gallup Survey: 14% of US adults own cryptocurrency, and 60% of those surveyed rarely buy https://t.co/verslo8ip News. Ownership of digital assets is rising…

– Mlion Crypto News (@mlionnews) July 27, 2025

Cryptocurrency is highest among men under the age of 50, with one in four reporting crypto investments. Additionally, higher adoption is seen among university graduates, upper-income earners and political conservatives.

However, it’s not just about interest, as 4% of Americans are planning their most recent investments.

Furthermore, among traditional investors, such as adults with at least $10,000 in financial assets, crypto ownership increased from 6% in 2021 to 17%, with 64% claiming they would never invest in Crypto.

Explore: Top Solanamemme Coins to purchase in July 2025

ETH or BTC: Who is dominating the Crypto chart this week?

by Arijit Mukherjee

The crypto market has been pretty bullish this week, pushing total capitalization to $3.82 trillion. The fear and greedy index also highlights greedy driven trading as most assets flush green.

BTC saw a modest move, closing out about $117,400 at the beginning of the week of July 21, 2025, and currently at $118,256, marking only a small profit in a week.

However, on July 22-23, 2025, it fell to a low of $115,000 on July 25, 2025, after BTC touched $120.200.

Ethereum (ETH) has been attracting a lot of attention, surged 50% over the past month, approaching the height of January. Companies are increasingly adding ETH to their balance sheets, with some analysts predicting a break above $4,000 could lead to major price discoveries and institutional demand pic.twitter.com/i3lxdmurkp

– S. prommalaphanunnt (@zineiiz00) July 27, 2025

ETH has improved, rising 9% earlier in the week to $3.85,000, returning to $3.75,000, marking a 5% net profit. The surge coincided with an increase in US spot Ethereum ETF inflow and increased institutional demand, driving ETH to a seven-month high.

Exploration: Next 1000x Ciphers: 10+ Ciphers tokens that can hit 1000x in 2025

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Today we’re excited to celebrate a huge milestone – Ethereum.org now supports 30 languages!

Since we launched the Website Translation Program seven months ago, we’ve seen how decentralized collaboration can result in a significant impact in the ecosystem, benefiting hundreds of thousands of community members around the world.

As of today, 467 volunteers from 52 language groups have helped make ethereum.org accessible to non-English speaking communities in their mother tongues.

Thanks to these volunteers, 16% of all traffic to ethereum.org is now directed towards non-English versions of the site. Over time, this number has grown significantly.

Two months ago, the website team set a Q2 goal of adding six more languages to the 24 that existed at the time. We’re honored to have accomplished this milestone by integrating the languages listed below:

• Norwegian v.1.1
• Chinese Traditional v.1.1
• Malayalam v.1.1
• Ukrainian v1.1
• Lithuanian v.1.0
• Portuguese v.1.0
• Italian v1.0 -> v.1.1 (updated)

Q3: Upgrading existing languages to site v1.1

In Q3, we’ve set a new goal of upgrading all languages to the latest version of ethereum.org, v1.1, which reflects to current content on the site. Currently, we have 16 languages waiting to be upgraded to v.1.1, which builds on previous content. Moreover, there will be more content updated in Q3/Q4. The languages we’re focused on now are listed below, paired with a percentage to show the progress of the translation:

• Portuguese Brazilian (83%)
• Lithuanian (79%)
• Dutch (69%)
• Spanish (69%)
• Russian (59%)
• Portuguese (56%)
• Igbo (52%)
• Japanese (48%)
• Korean (48%)
• Greek (48%)
• Polish (48%)
• Slovenian (48%)
• Czech (48%)
• Persian (44%)
• Thai (38%)
• Vietnamese (19%)

Interested in contributing to our translation effort? We encourage you to work towards the latest version (v 1.1). If you’ve already started working on a lower version, that’s fine too! We’ll add any completed version to the website.

Again, we wish to have your continuous support in our Q3 goal. Of course, support with unlisted languages is always welcome.

How to get involved?

Latest Updates

Here are the latest updates we’ve made across the website translation program.

1. Acknowledgment page

We’d like to give credit to all who have helped us hit this milestone, for which we are very appreciative. We will soon dedicate a special recognition page, which will contain a list of volunteer names (or nicknames for the privacy concious). If you’d like to change your current name or to stay anonymous, please change your Crowdin profile setting by following the instruction at the end of this section.

2. Top 10 contributor list

In the future, there will be a separate table showing the names and a brief summary (i.e. language, number of words) to acknowledge outstanding contributions of these special contributors, while also encouraging potential existing and new volunteers to join our force.

3. Fill up your Github and Twitter handles

Along with the Acknowledgement page, we will be consistent in thanking contributors on Twitter. With every new language update, we have given a brief acknowledgment to the contributors by mentioning their nickname (or real name) in the Twitter announcement.

On top of the current format, we would like to tag contributors’ Twitter handles and mention their GitHub accounts in the Twitter announcement. In order to standardize this process, contributors can fill in their Crowdin profiles with the information they would like us to share. The instructions, listed below, can help serve as a reminder and a guide for entering necessary information.

Instructions for updating your Crowdin profile:

1. Go to the [Account Settings]

2. Fill out the [About Me] section with the information you want to share. This will be shown on our Twitter announcement.

   a. Name (or Nickname):

   b. Github:

   c. Twitter:

   d. Anonymous: Yes / No

If you don’t want to be introduced or want to stay anonymous, we respect your preference. Please leave the place empty and check the “anonymous” field with yes.

4. Content translation program

Lastly, we’re excited to announce that we’ve successfully wrapped up the first batch trial of the Content Translation Program. We also experimented with expanding our translation efforts to content outside of Ethereum.org, with the three carefully chosen articles below:

• Ethereum 2.0 phases by EthHub: German, Brazilian Portuguese, Korean, Arabic, French, Indonesian, Italian, Polish, Portuguese, Slovak, Spanish
• On Collusion by Vitalik Buterin: German, Italian, Brazilian Portuguese, Polish
• How does Ethereum work, anyway? by Preethi Kasireddy: German, Italian, Polish, Brazilian Portuguese

We were delighted to be able to offer this great content in other languages. But for now, we will be shifting focus to a lot of new content coming to ethereum.org. If you’re already working on this ecosystem content, no worries! We’ll be happy to upload it as soon as you’re finished.

Join our program

We’re very proud of our recent milestones and we look forward to serving more global communities by adding more languages in the future. As always, a huge thanks is owed to all of the volunteers who have given their time and energy to support this program. If you aren’t yet part of the program and interested in participating, come join us here!

Special thanks to Joseph Schweitzer for excellent feedback and inlak16 for the amazing celebration animation.

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Ethereum has just marked 10 years since its launch. It rolled out a symbolic NFT called “The Ethereum Torch” to honor its community.

The token will travel from one wallet to another day by day. Then it will be burned to make way for a fresh celebratory NFT that anyone can mint for free.

Ethereum Torch Tour Highlights Community Spirit

According to the Ethereum Foundation’s X account, Joseph Lubin, a co‑founder of Ethereum and founder of ConsenSys, will kick off the torch as its first holder on July 21.

After 24 hours in his wallet, the torch moves on. It will spend 10 days hopping across a selected list of community members. Based on reports, each handover is chosen to show off the network’s global reach.

0/ The Ethereum Torch is now lit.

The Torch is an NFT honoring the people and values that have shaped Ethereum’s first decade and will help build its future.

It will be symbolically passed from wallet to wallet in the 10 days leading up to Ethereum’s 10 year anniversary. pic.twitter.com/nEIY8JOIna

— Ethereum (@ethereum) July 20, 2025

The torch will wrap up its journey on July 30, when the Foundation plans to burn the NFT. That burn is meant to close out one era of the network and launch the next.

After the burn, a brand new torch will be freely claimable through the official Ether website, giving more people a piece of the celebration.

NFT Market Sees Notable Revival

On‑chain data shows a sharp rebound in NFT trading. Total weekly sales across all blockchains topped $110 million last week.

Ethereum projects accounted for about $75 million of that sum. That represents a 300% jump from figures two weeks earlier.

The spike arrived alongside a 50% rise in ETH price since July 6. Collectors and traders are turning back to digital art and collectibles in growing numbers.

Based on reports, this uptick could signal renewed confidence after a weak 2024, when NFT trading fell 18% compared to 2023.

Cross‑Chain Activity And Big Purchases

Other blockchains posted mixed results. Bitcoin‑based collectibles hit almost $26 million in weekly volume. That’s nearly double the $11 million registered in early July.

Polygon trading made a slight retreat during the same period. These shifts suggest interest is spreading but still centers on major players.

Meanwhile, Cboe BZX has filed an application for a new ETF with Canary Capital. The move would hold PENGU tokens tied to the Pudgy Penguins collection.

Featured image from Unsplash, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.

Bitcoin spent about nine months stuck below $110 K before finally pushing past that ceiling this month. The move up to $123,000 shows real buying power.

According to EliteOptionsTrader, a crypto expert, many investors see this as the start of something bigger.

Related Reading

Key Catalysts Driving The Surge

Based on examination by EliteOptionsTrader, one of the biggest factors is the potential approval of a spot Ethereum ETF. Bitcoin’s own ETFs have pulled in billions from major institutions, and a greenlight for Ethereum could send more money into crypto overall, lifting Bitcoin further.

The US election is now behind us, and talk of Federal Reserve rate cuts in late 2025 is fueling bets on a weaker dollar. Many traders view Bitcoin as a shield against political or economic swings.

At the same time, hedge funds, sovereign wealth funds, and pension plans hold only small slices of Bitcoin so far. If they decide to jump in, that could push prices even higher.

Bitcoin’s Road to $250K in 2025? $BTC has been consolidating under 110k for the last 9 months and finally broke out this month. As of now we already test 120k and looks like we are in route to testing 150k in the coming weeks. One thing to note, after something bases for such… pic.twitter.com/GGUrcUcp0D

— EliteOptionsTrader (@EliteOptions2) July 15, 2025

Long Base Could Support Further Gains

Bitcoin’s lengthy base under $110K sets a solid foundation. Breakouts after long periods of sideways action often lead to steep rallies.

Still, it’s normal for prices to dip back toward the breakout zone. A pullback to around $115K–$118K could happen before any major surge. Traders will be watching support at $118K and resistance near $125K.

Brewing Institutional FOMO

Even after the rally, big players have only dipped their toes in. EliteOptionsTrader notes that a major allocation wave—from a large pension fund or insurance giant—could trigger fresh price discovery.

And let’s not forget the April 2024 halving, which cut Bitcoin’s daily issuance by half. That supply shock often takes several months to show its full effect, but we’re seeing demand tick up already.

Even with a strong start, the path up isn’t without hazards. Sharp corrections of 10%–20% are part of crypto’s genes. Any surprise rules from major markets could stall this run.

Related Reading

On Cautious Optimism And Targets

If Bitcoin can clear $127K, the odds of a parabolic move rise sharply. Based on analysis by EliteOptionsTrader, a test of $150K in the next few weeks looks within reach. That said, aiming for $250K by year end will require all these factors to line up without a single major setback.

Bitcoin’s latest breakout feels exciting, but traders should keep a close eye on how it handles new support levels. Riding the trend can pay off, yet managing risk is just as important as spotting the next high.

Featured image from Meta, chart from TradingView