In a historic move, the US House of Representatives has finally passed three pivotal crypto bills, delivering a significant win for the digital asset industry. This legislative breakthrough is expected to bring unprecedented clarity and catalyze further growth in the crypto market.

Market Overview

US equities closed positively across all three indices on Friday's trading session, with the Nasdaq leading gains at 0.75%. Oil futures also saw a slight increase to $67.5 per barrel. Gold held at $3346 per ounce.

President Trump continues to pressure the Fed to cut interest rates, but the Atlanta Fed President believes it's too early due to persistent inflation. Former Fed Governor Kevin Warsh, a potential replacement for Powell, calls for Fed reform and closer coordination with the Treasury. However, this could raise concerns about the Fed's independence and risk market instability.

Bitcoin traded around $119,000 to $120,000 yesterday. Most major altcoins saw gains, with DOGE and ETH showing the strongest performance. The overall crypto market capitalization reached $3.99 trillion. The printing of an additional 1 billion USDT on Ethereum yesterday remains a positive signal for the market, indicating strong liquidity demand.

US Bitcoin spot ETFs saw inflows of $522 million on Thursday. ETH spot ETFs continued to attract substantial inflows with $602 million. SOL spot ETFs also received $8.4 million in inflows.

BlackRock's Bitcoin Spot ETF (IBIT) has achieved a historic milestone, becoming the fastest ETF ever to reach $80 billion in assets, doing so in just 374 days—five times quicker than the previous record held by Vanguard's S&P 500 ETF (VOO), which took 1814 days. Currently, IBIT holds $83 billion, ranking 21st among over 4,000 ETFs in the US and standing as BlackRock's most profitable ETF. Eric Balchunas from Bloomberg suggests that the $100 billion mark could be reached as early as this month, sooner than anticipated. This unprecedented growth underscores the accelerating institutional adoption of Bitcoin.

Historic Victory for the Crypto Industry in the US

Three crucial cryptocurrency bills have just passed the US House of Representatives, marking a significant turning point for the crypto industry. Among them, the GENIUS Act will be presented to President Trump for his signature, set to become the first crypto law in US history.

Despite a contentious debate process, the voting results demonstrated remarkable bipartisan consensus:

• CLARITY Act: Passed with a vote of 294–134, including 78 Democratic representatives in favor.
• GENIUS Act: Received strong backing with a vote of 308–122, with an impressive 102 Democratic representatives in agreement.
• Anti-CBDC Act: Showed a clear division with a vote of 219–210, with only 2 Democratic representatives voting in favor.

According to the schedule, the White House is preparing for the passage of the GENIUS (stablecoin) Bill on Thursday (US time), with the official signing ceremony expected to take place at 2:30 PM ET. Several industry leaders and lawmakers have received invitations to attend.

The GENIUS Act not only establishes a clear legal framework for the issuance and asset-backing of stablecoins (such as USDT or USDC) but also paves the way for traditional financial institutions to enter the DeFi and Web3 sectors. This regulatory clarity will empower banks and large financial companies—many of whom have remained on the sidelines—to confidently participate and build infrastructure on blockchain networks like Ethereum, Solana, Base, or Sui. The choice of platform will depend on factors such as speed, transaction fees, decentralization levels, and, crucially, network effect.

President Donald Trump, who has expressed a clear pro-crypto stance, is steadily fulfilling his commitments. Following the passage of the defense budget, he shifted his focus to the digital asset industry, resulting in the GENIUS Act officially being signed into law on Friday (US time). Subsequently, the White House recently confirmed the President's official stance on key cryptocurrency issues. Accordingly, the President supports a de minimis tax exemption for crypto payments valued under $600. This policy aims to facilitate everyday transactions like buying coffee, helping cryptocurrencies gradually become a more accessible and legal payment method in daily life.

Additionally, the President clearly expressed his opposition to the issuance of Central Bank Digital Currencies (CBDCs). He has signed an executive order prohibiting CBDC deployment and supports Congress enacting this ban into law, to ensure financial privacy for citizens and prevent centralized state surveillance.

"Crypto Week" in the US has concluded with a resounding victory. Three historic bills passed the House of Representatives, with the GENIUS Act making history as the first cryptocurrency law in the United States. This development not only provides a clear legal framework but also opens a new chapter for the crypto market, particularly for Altcoins, DeFi projects, and stablecoins in the coming period.

Capital Inflows into Ethereum: Hopes for a New Altcoin Season

Capital inflows are showing clear optimism towards Ethereum (ETH) recently. Data indicates that this wave stems from a common sentiment: many investors feel they missed out on Bitcoin's rally and are now shifting their focus to ETH—the second-largest coin by market cap—with the expectation that ETH will be the next destination for institutional capital.

Historical growth cycles show a familiar pattern: capital first flows into Bitcoin, then spreads to Ethereum, and only then to other altcoins. This phenomenon occurred during the 2017 and 2021 bull runs and shows signs of repeating, albeit with some differences. While in previous cycles, buying pressure primarily came from retail investors, the current accumulation wave is driven by large institutions, as Bitcoin has surpassed $100,000 and is no longer an "easily accessible" asset for many small retail investors.

The narrative is being fueled by communication strategies from institutions like Wall Street, as they signal that "the remaining opportunity is Ethereum." Furthermore, the commitment to Ethereum's Layer-1 development by founders like Vitalik Buterin, despite some skepticism, helps solidify confidence in ETH's long-term potential.

Despite doubts, what matters is not whether the technology is perfectly ready, but investors' conviction about the future. As long as they believe ETH can become a fast, powerful, and scalable system in the future, its value can begin to grow now.

Companies Continue to Accumulate BTC

Numerous global businesses are continuing to aggressively pursue Bitcoin accumulation strategies, demonstrating a growing confidence in this digital asset as a long-term investment channel.

Volcan Inc. has initiated its buying strategy by raising $500 million through stock issuance. In the UK, The Smarter Web Company announced it would seek at least £15 million (approximately $20.1 million) to add to its existing Bitcoin holdings. In the US, Bitcoin Standard Treasury Company (ticker $BSTR) is preparing to launch with an impressive scale: 30,021 BTC and approximately $1.7 billion in cash, led by Blockstream founder Adam Back. Also in the US, Semler Scientific continues to increase its Bitcoin holdings by purchasing an additional 210 BTC, bringing its total to 4,846 BTC. In Japan, Convano Inc., a nail salon chain, has officially adopted a Bitcoin treasury strategy and plans to invest 400 million yen (approximately $2.7 million) this July. Additionally, Bitcoin Treasury Corporation, which currently holds 771 BTC, also recently announced plans to potentially raise up to $300 million over the next 25 months to further expand its Bitcoin investment portfolio. This trend reflects a clear shift in the financial strategies of many businesses, as Bitcoin is increasingly viewed as a balance sheet asset alongside traditional holdings.

Other Key Crypto & Market Updates

Bank of America is preparing to enter the stablecoin sector, following major rivals like JPMorgan and Citigroup. CEO Brian Moynihan confirmed that the bank is currently researching and developing this digital asset, though no specific timeline for deployment has been announced. This signals a broad adoption trend by major traditional financial institutions.

President Trump is preparing to issue an executive order allowing 401(k) retirement funds to invest in Bitcoin, gold, and private equity. This move aims to expand the $9 trillion retirement market to non-traditional assets. Regulatory agencies will be directed to remove existing barriers. The executive order is expected to be announced this week, pending official confirmation from President Trump.

El Salvador's President Nayib Bukele met with Pakistan's Minister of Crypto, Bilal Bin Saqib, to discuss global cooperation in the Bitcoin sector, focusing on Bitcoin mining and energy, building strategic reserves, and promoting Bitcoin education in both countries. This highlights international collaboration on Bitcoin adoption.

Fast-food chain Steak 'n Shake recently celebrated 2 months since it began accepting Bitcoin payments on May 16, 2025, an event now dubbed "Steakburger Bitcoin Day." At that time, Bitcoin's price was $103,489. The company states that burger and milkshake prices, when denominated in Bitcoin, are becoming increasingly cheaper, while affirming that Bitcoin is transforming their business model and thanking the Bitcoin community for its continued support.

Australia has launched its first home loan collateralized by Bitcoin, allowing crypto investors to buy homes without selling their Bitcoin. Block Earner is the first company to offer this product after winning a case against regulators. When valuing homes in Bitcoin or gold, the purchasing power of long-term holders significantly increases, with the ratio for a house dropping from 627 BTC in 2016 to 4.3 BTC in 2024. The loan allows Bitcoin to be used as collateral without selling it, which CEO Charlie Karaboga deems an inevitable innovation.

BNB Chain will upgrade its infrastructure in the second half of 2025 with the goal of processing 5,000 swap transactions per second on DEXes, and aiming for 20,000 transactions per second by 2026. To achieve this, BNB Chain will increase its gas limit to 1 billion and deploy a new client based on the Rust language, improving performance and smart contract execution speed. Currently, the network already handles over 12 million transactions daily, similar to a busy highway system. The upgrade will expand this "highway," making DEX transactions faster, smart contracts smoother, and the entire blockchain system more efficient.

France proposes a 5-year trial of using surplus energy for Bitcoin mining, aiming to stabilize the power grid and efficiently utilize excess electricity. If 1 gigawatt is used for mining, France could generate $100-150 million annually. Mining facilities would operate near power plants when surplus electricity is available, also leveraging waste heat for heating or industrial use. This initiative highlights innovative ways nations are integrating Bitcoin mining with energy strategies.

Sources

• Bloomberg
• CoinDesk
• U.S. Treasury
• TradingView
• Reuters
• SEC
• White House Press Office
• Federal Reserve
• CryptoQuant
• Tether Transparency Report
• BlackRock Investor Relations
• President Trump's Public Statements
• El Salvador Presidency
• Steak 'n Shake
• Block Earner
• BNB Chain Official Announcements
• French Ministry of Economy and Finance

Disclaimer

This article is for informational purposes only and should not be considered financial advice. Please do your own research before making investment decisions.