The cryptocurrency market displayed mixed signals ahead of the Producer Price Index (PPI) release, with Solana (SOL) notably outperforming major assets. In a significant shift, Ethereum ETFs recorded inflows, breaking a six-day outflow streak and signaling renewed institutional confidence. Corporate activity remained robust as Metaplanet expanded its discounted equity raise to $1.4 billion, with KindlyMD committing $30 million to the initiative. Sharplink also demonstrated corporate strength by repurchasing 1 million shares.
Stablecoin competition intensified with Ethena entering the race for HYPE, though Native Markets is currently viewed as the frontrunner. Regulatory and institutional developments progressed as the CBOE announced plans to launch perpetual-style futures for Bitcoin and Ethereum. Meanwhile, Democratic lawmakers are advocating for seats at the SEC and CFTC to advance pro-crypto legislation. The CFTC is exploring frameworks to recognize foreign crypto platforms, potentially expanding market access.
Exchange developments included Gemini preparing for an initial public offering this week, while Robinhood plans to integrate copy trading features. Grayscale expanded its product suite by filing for ETFs tracking Hedera (HBAR), Litecoin (LTC), and Bitcoin Cash (BCH). Binance and SGB are set to enable direct USD transfers for retail users, enhancing accessibility. In a landmark move, Vietnam approved a five-year pilot program for a regulated cryptocurrency trading market, marking a significant step toward regional adoption.
