Crypto markets showed mixed signals this week, led by ETH ETF outflows of $678 million over three days and a slide in Bitcoin linked to a $400 billion drain from the Federal Reserve’s reverse-repo facility. Other highlights: SUI trading went live on Robinhood, and token revenue leader $PUMP surpassed $800 million in lifetime revenue.
The sustained withdrawals from ETH-focused exchange-traded funds suggest short-term institutional repositioning rather than a long-term narrative shift, but they underscore how large pooled products can amplify volatility. Bitcoin’s pullback coincided with reports that liquidity was pulled from short-term money markets — a reminder that macro plumbing still affects crypto flows.
On the corporate side, a crypto strategy stock hit four-month lows after recent Bitcoin purchases, while decentralized autonomous treasuries (DATs) reportedly eclipsed traditional venture capital funding so far in 2025 — signaling growing on-chain capital formation. Protocol activity included Sharplink adding 12,000 ETH to its holdings, and $PUMP marking a major revenue milestone.
Adoption and infrastructure updates were notable: SUI is now available for trading on Robinhood, SoFi plans to integrate Bitcoin Lightning for payments, and Tony Scaramucci’s firm announced plans for tokenized real-world assets on Avalanche. Meanwhile, Wyoming moved to become the first U.S. state to launch a state-backed stablecoin, and several market actors — including Bullish — have used stablecoins in large capital transactions, such as a reported $1.15 billion IPO settlement.
These developments highlight a market balancing rapid product innovation with macro liquidity pressures. Risk reminder: market flows and new product rollouts can be volatile; readers should consider portfolio risk and do independent research before trading or investing.
Source: Decrypt. Read the original coverage for full details.