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<h1>Crypto &amp; SMSFs in Australia: A 2025 Compliance Guide</h1>Cryptocurrency is becoming an important part of wealth strategies in Australia, and some investors are choosing to hold digital assets through their self-managed super funds (SMSF). With crypto investments in SMSFs <a href="https://www.ato.gov.au/individuals-and-families/super-for-individuals-and-families/self-managed-super-funds-smsf/smsf-newsroom/highlights-smsf-quarterly-statistical-report-june-2025" rel="noopener noreferrer" target="_blank">growing to AU$3.1 billion as of June 2024</a>, it’s important to understand how SMSFs and crypto work together, and what rules apply under current Australian regulations.In this guide, we explain how SMSFs can legally hold crypto, the compliance obligations trustees must meet, and how Coinstash helps make the process simpler. Whether you are exploring the idea or preparing to set up an SMSF, this guide will cover the essentials.Before you read on, please note this article is for general information only. Coinstash is not licensed to give financial product advice under Australian law. If you are thinking about SMSFs or have any questions about SMSFs, it’s a good idea to always speak with someone who holds an Australian Financial Services Licence.&nbsp;<h3>5 Key Takeaways</h3><ul><li>The ATO allows SMSFs to invest in cryptocurrency if it is permitted by the trust deed and investment strategy.</li><li>All crypto held by an SMSF must have clear legal ownership in the fund’s name, separate from personal holdings.</li><li>Valuations of crypto must follow ATO valuation guidelines and be updated regularly.</li><li>Crypto transactions (buy, sell, swap) typically trigger capital gains tax (CGT) events, even within an SMSF.</li><li>Coinstash offers SMSF-ready accounts and tools to streamline record keeping, reporting, and audit compliance.</li></ul><h2>The ATO’s Position on Crypto and SMSFs</h2>The ATO has issued <a href="https://www.ato.gov.au/individuals-and-families/super-for-individuals-and-families/self-managed-super-funds-smsf/smsf-newsroom/navigating-smsf-crypto-assets" rel="noopener noreferrer" target="_blank">guidelines</a> that set out the rules for using crypto within SMSFs. These ensure that crypto assets are treated like any other investment held by the fund: properly structured, securely stored, and clearly documented. If you're considering setting up a crypto SMSF, it's critical to understand these rules upfront.Key considerations for SMSFs investing in crypto:1) Your fund deed and investment strategy must allow itThe SMSF’s trust deed must permit digital assets, and the investment strategy must include crypto as an asset class. It should outline how crypto supports retirement goals, including considerations for risk, liquidity, and diversification.2) Legal ownership must be clear and provableAll crypto must be held in the name of the SMSF. This applies to both exchange accounts and wallets. Using personal accounts or wallets, even if you intend to track it separately, is a breach of the rules. If ownership can't be proven at audit time, your fund’s compliance status could be at risk.3) Crypto must be valued fairly and consistentlyCrypto must be valued in accordance with the <a href="https://www.ato.gov.au/individuals-and-families/super-for-individuals-and-families/self-managed-super-funds-smsf/smsf-administration-and-reporting/guide-to-valuing-smsf-assets" rel="noopener noreferrer" target="_blank">ATO’s SMSF valuation guidelines</a>. This means using reliable market data, ensuring the valuation reflects the asset’s market value in Australian dollars, and revaluing at least once a year (typically at 30 June). All valuations must be supported by proper records.4) Personal use or benefit is not allowedAn SMSF must be maintained solely for the purpose of providing retirement benefits. Any personal use of crypto, such as using a token for discounts or services, could breach the sole purpose test and result in significant penalties.5) Transfers and disposals may trigger tax eventsIf your SMSF transfers crypto out of the fund, such as when paying a member in-specie, this is considered a disposal and triggers a CGT event. The fund will need to calculate the capital gain or loss at the time of transfer.6) Crypto is not treated as a listed securityUnder current ATO guidance, cryptocurrency is considered a general asset, not a listed security. This distinction matters because SMSFs are not allowed to acquire assets from related parties unless the asset is a listed security. As a result, crypto must always be purchased by the SMSF directly, not transferred from a member’s personal holdings.<h2>Common Challenges of Running a Crypto SMSF</h2>While a crypto SMSF gives trustees more control and flexibility, it also brings additional responsibilities. Here are some of the most common challenges trustees face:1) Aligning your trust deed and investment strategyYour SMSF's trust deed must specifically allow for digital assets. If it's not already included, you'll need to update the deed. Your investment strategy must also outline how crypto fits into your portfolio, including how you'll manage risk and maintain diversification. These documents will be reviewed at audit, so they must be clear and up to date.2)&nbsp;Proving ownership and managing custodyTo satisfy audit requirements, you must be able to prove that the crypto is owned by the SMSF, not by you personally. This means using wallets or exchange accounts registered in the name of the fund. Cold wallets or custodial services must also be SMSF-specific, with supporting receipts and clear separation from personal assets.3) Diversification and Risk ManagementInvesting a large portion of your super in one crypto asset, or relying solely on crypto, increases the level of risk for trustees. A well-structured SMSF portfolio should consider volatility, liquidity, and long-term return expectations. Clearly documenting the role of crypto, how risks will be managed, and how it supports retirement objectives is essential. These decisions should be outlined in the SMSF investment strategy.4) Understanding and applying the sole purpose testYour fund must exist solely to provide retirement benefits. This means no personal use of SMSF-held crypto, even indirectly. Any breach of the sole purpose test can lead to serious penalties and the loss of your fund's tax concessions. Make sure both you and your advisers understand how this test applies to digital assets.5) Using SMSF-dedicated wallets and maintaining recordsThe SMSF must use its own wallets, completely separate from any used by trustees personally. Each wallet should include transaction records for every crypto asset held. These records must be available for audit and supported by documentation such as invoices, exchange logs, and valuation references.<h2>Keeping Accurate Records for Crypto SMSFs</h2>When it comes to SMSFs, record keeping is not optional, it is essential. Trustees are responsible for maintaining accurate, detailed records that prove the fund’s crypto investments are compliant with ATO rules. This applies whether your SMSF is holding a small amount of crypto or managing a larger portfolio.The ATO expects SMSFs holding crypto to maintain clear and comprehensive documentation, including:<ul><li>Receipts for all crypto purchases, sales, or transfers, including date, time, value in AUD, and purpose</li><li>Exchange account statements registered in the SMSF’s name</li><li>Records of legal, tax, or accounting advice and fees</li><li>Minutes of trustee meetings documenting crypto decisions</li><li>Wallet addresses, custody records, and private key controls</li><li>Valuation evidence for annual reporting, including price sources and dates</li></ul><h2>How Coinstash Supports Crypto SMSF Compliance</h2>At Coinstash, we know that SMSF trustees face strict compliance, reporting, and audit requirements when holding crypto. Our platform is purpose-built for crypto SMSFs, helping trustees manage their investments confidently and stay aligned with ATO expectations. These include:<ul><li>Specialised SMSF accounts: Trustees can open accounts in the legal name of their SMSF, ensuring clear ownership and compliance with ATO requirements.</li><li>Integrated reporting and exports: Generate audit-ready transaction histories, wallet statements, and CSV exports, with direct integrations into leading accounting and tax software.</li><li>Real-time crypto valuations: Access live market pricing and revaluation tools to meet ATO valuation guidelines and support accurate end-of-year reporting.</li><li>Account segregation tools: Keep SMSF assets completely separate from personal holdings. Transfers between personal and SMSF accounts are blocked to reduce compliance risks.</li><li>Adviser access: Trustees can grant secure, view-only access to their accountants, advisers, and auditors. This makes it easier to share records, reduce back-and-forth, and streamline year-end audits.</li><li>Ongoing support and education: Stay informed with educational content, practical guides, and SMSF-specialist support to help you keep up with regulatory requirements and best practices.</li></ul>When choosing a crypto provider for your SMSF, it’s important to select one that truly understands the unique requirements of trustees. Coinstash is Australia’s leading crypto SMSF investment exchange, helping thousands of Australians invest in digital assets through their SMSFs since 2017. Backed by an expert team with deep knowledge of both digital assets and SMSF regulations, Coinstash provides the infrastructure to meet compliance needs and deliver audit-ready documentation, giving trustees the confidence to manage their fund securely and compliantly.<h2>Closing Thoughts</h2>A crypto SMSF offers trustees the ability to take greater control of their retirement strategy while gaining exposure to a new and evolving asset class. With that opportunity comes the need to follow ATO rules, keep accurate records, and carefully document how crypto supports long-term objectives.With the right structures in place, managing a crypto SMSF can be straightforward. Coinstash is purpose-built for SMSFs and supported by a team with deep expertise in both digital assets and compliance, helping trustees stay on track while focusing on their retirement goals.If you are ready to set up a crypto SMSF account, the Coinstash team can guide you through the process with personalised 1-to-1 onboarding consultations. <a href="https://calendly.com/d/cs56-x68-bc3/coinstash-smsf-consultation" rel="noopener noreferrer" target="_blank">Click here to book a consult</a>.<h2>Frequently Asked Questions</h2>

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Disclaimer: This article and its contents are intended for informational purposes only, and do not constitute financial, investment, trading or any other advice from TWMT Pty Ltd, trading as Coinstash AU ("Coinstash"). Coinstash is not a licensed financial advisor and does not provide financial advice. You should not make any decision, financial, investment, trading or otherwise, based on any of the information presented in this article or relevant materials without undertaking independent due diligence and consultation with a professional financial adviser. The information presented in this article may be inaccurate and no representations are made as to its truthfulness or accuracy. The views and opinions expressed in the quoted material are those of the original authors and do not necessarily reflect the views of Coinstash. All quotes have been used for informational purposes and have been attributed to their respective sources to the best of our ability. You understand that you are using any and all information available in or through this article or relevant materials at your own risk. Cryptocurrency is a highly volatile and risky investment. You should consider seeking financial, legal, tax or other professional advice to check how the information relates to your unique circumstances. Coinstash shall not be held responsible or liable for any losses, whether due to negligence or otherwise, stemming from the use of, or reliance upon, the information provided directly or indirectly in this article.

Crypto & SMSFs in Australia: A 2025 Compliance Guide

<h1>Markets Rebound After Largest Ever Crypto Liquidation Event</h1>After a turbulent weekend, the crypto market is showing early signs of recovery following one of the largest liquidation events in its history.What began as an escalation in trade tensions quickly turned into a flash crash that wiped out more than US$20 billion in leveraged positions. The speed and scale of the move caught many traders off guard and has left many investors questioning what happened, why it unfolded so quickly, and what it means for the market going forward.<h2>What Unfolded</h2>Market volatility spiked late Friday after trade tensions between the United States and China escalated. U.S. President Donald Trump’s threat to impose new tariffs on China sparked a wave of risk aversion across global markets, sending both stocks and crypto prices lower.​Overnight, Trump followed up on social media with posts announcing plans for a 100% tariff on Chinese imports. The news deepened the sell-off and triggered a cascade of liquidations, causing a flash crash that rippled through the market.During the crash, Bitcoin (BTC) fell ~12% to lows of US$107,000, while Ethereum (ETH) dropped ~20% to US$3,400. Many altcoins were hit even harder, with some plunging more than 50%.In total, nearly US$7 billion in positions were liquidated within a single hour. By the end of the day, total liquidations had surged to almost US$20 billion, with roughly US$16.7 billion of that coming from long positions. According to<a href="https://x.com/coinglass_com/status/1976796969961193641" rel="noopener noreferrer" target="_blank"> CoinGlass</a>, it marked the largest single-day wipeout in crypto history by dollar value.<h2>Why It Happened</h2>Many analysts and traders spent the weekend dissecting the chain of events behind the sell-off. While several theories continue to circulate, one thing is clear: there was a significant build-up of leverage across the system.A large number of traders were positioned long in anticipation of a strong Q4, taking on leverage across both centralised and decentralised perps exchanges. The steady rise in open interest created the conditions for a rapid and severe unwinding once prices began to fall.Although events like this have become less common as the crypto market has developed, they remain an important reminder of the risks that come with excessive leverage. Flash crashes, while painful, often serve a cleansing role by flushing out excess risk and restoring balance to the market.<h2>The Bigger Picture</h2>In times like these, it’s important to zoom out and keep perspective.This flash crash was very different from the structural or fundamental black swan events seen in past cycles. It was a leverage-driven event, not a breakdown in the underlying crypto ecosystem.This episode served as a critical stress test for the industry. While some platforms experienced disruptions, many others, including Coinstash, continued to operate seamlessly, highlighting how much the market’s infrastructure has matured.Although prices were impacted in the short term, many assets have already shown strong recoveries. At the time of writing, <a href="https://coinstash.com.au/btc/buy" rel="noopener noreferrer" target="_blank">Bitcoin (BTC)</a> is trading around US$115,000, <a href="https://coinstash.com.au/eth/buy" rel="noopener noreferrer" target="_blank">Ethereum (ETH)</a> remains above US$4,100, and most altcoins have rebounded significantly from the lows, showing that market confidence remains intact.Global crypto adoption is surging, and institutional demand is gaining momentum as more investors look to digital assets for diversification and long-term growth. With further rate cuts still expected in Q4, macro conditions remain favourable for digital assets.The recent volatility highlights both the risks and the resilience of this market. While price swings can be sharp, crypto continues to recover and evolve, reinforcing its position as a maturing and enduring part of the global financial landscape.

Disclaimer: This article and its contents are intended for informational purposes only, and do not constitute financial, investment, trading or any other advice from TWMT Pty Ltd, trading as Coinstash AU ("Coinstash"). Coinstash is not a licensed financial advisor and does not provide financial advice. You should not make any decision, financial, investment, trading or otherwise, based on any of the information presented in this webinar or relevant materials without undertaking independent due diligence and consultation with a professional financial adviser. The information presented in this article may be inaccurate and no representations are made as to its truthfulness or accuracy. The views and opinions expressed in the quoted material are those of the original authors and do not necessarily reflect the views of Coinstash. All quotes have been used for informational purposes and have been attributed to their respective sources to the best of our ability. You understand that you are using any and all information available in or through this webinar or relevant materials at your own risk. Cryptocurrency is a highly volatile and risky investment. You should consider seeking financial, legal, tax or other professional advice to check how the information relates to your unique circumstances. Coinstash shall not be held responsible or liable for any losses, whether due to negligence or otherwise, stemming from the use of, or reliance upon, the information provided directly or indirectly in this article.﻿

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Market Update - October 13, 2025

Crypto Market Update - 13/10/25

<h1>U.S. Inflation Data Triggers Crypto Market Pullback&nbsp;</h1>Market Highlights<ul><li>PCE Data Weighs on Risk Assets: Friday’s U.S. PCE report showed core inflation at 2.9% in July—inline with forecasts but higher than June—triggering a sell-off across equities and crypto.</li><li>BTC Marks First Monthly Loss in Five Months: BTC fell -4.47% on the week and -6.51% in August, posting its first negative month since March.</li><li>ETH Rejects From All-Time Highs: ETH dropped -8.07% after failing to hold its all-time high breakout, though it still closed August up +18.81%.</li><li>Altcoins Under Pressure: Large-cap tokens traded broadly lower, with DOGE, XRP and ADA leading declines.</li><li>CRO Soars on Trump Media Treasury Deal: CRO jumped +86.79% after Trump Media &amp; Technology Group announced a US$6.4 billion partnership with Crypto.com.</li></ul><h2>Market Overview</h2>Crypto markets pulled back this week, with both Bitcoin (BTC) and Ethereum (ETH) retreating from recent highs while altcoins extended their declines.The weakness followed Friday’s U.S. personal consumption expenditures (PCE) index, which <a href="https://decrypt.co/337344/crypto-liquidations-top-500-million-bitcoin-ethereum-xrp-sink-weekend" rel="noopener noreferrer" target="_blank">showed</a> core inflation running at 2.9% in July, inline with expectations but higher than June. The data weighed on risk assets broadly, with the S&amp;P 500 closing down -0.6% and the Nasdaq down -0.9%. Crypto traded in step with equities, as the total market cap <a href="https://www.tradingview.com/chart/tjYzZCN4/?symbol=CRYPTOCAP%3ATOTAL" rel="noopener noreferrer" target="_blank">slipped</a> more than -4% in the aftermath of the release.Looking ahead, seasonality remains a potential headwind. September has historically been one of the weakest months for BTC, and with macro pressures still in play, market participants remain cautious that further downside could unfold in the weeks ahead.<h2>Bitcoin (BTC)</h2>

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<a href="https://coinstash.com.au/btc/buy" rel="noopener noreferrer" target="_blank">BTC</a> extended its losing streak, slipping -4.47% over the past seven days to mark a third consecutive week of declines. The move leaves BTC trading near US$107K, with price action consolidating after recent volatility. August closed with a -6.51% monthly decline, BTC’s first negative month since March.ETF Inflows:&nbsp;U.S. spot Bitcoin ETFs attracted US$440.7 million of inflows across the week, with Friday the only session to record net outflows, according to <a href="https://sosovalue.com/assets/etf/us-btc-spot" rel="noopener noreferrer" target="_blank">SoSoValue</a>. Despite this, August flows finished negative overall, with ETFs posting net outflows of -US$751 million, underscoring waning investor conviction following July’s strong inflows.Corporate Treasury Demand:&nbsp;Amsterdam Bitcoin Treasury Strategy (AMBTS), established by Dutch crypto-asset service provider Amdax, has <a href="https://www.coindesk.com/markets/2025/08/29/ambts-raises-usd23-2m-to-build-bitcoin-treasury-targets-1-of-btc-in-circulation" rel="noopener noreferrer" target="_blank">raised</a> US$23.2 million in its initial financing round. The funding, secured through private placements, will seed the company’s bitcoin accumulation strategy. The round, capped at US$34.8 million, is expected to close in September 2025.&nbsp;Strategy CEO Michael Saylor once again hinted at potential additional Bitcoin purchases. Overnight, he shared a chart visualising the company’s BTC accumulation over time. The <a href="https://x.com/saylor/status/1962118072837267580" rel="noopener noreferrer" target="_blank">post</a>, captioned “Bitcoin is still on sale,” is part of a pattern of messages from Saylor that have often preceded announcements of fresh BTC acquisitions.<h2>Ethereum (ETH)</h2>

It was a week of sharp reversal for <a href="https://coinstash.com.au/eth/buy" rel="noopener noreferrer" target="_blank">ETH</a>, which rejected firmly off fresh all-time highs. After coming within a whisker of US$5,000 the prior week, ETH pulled back to test key support around US$4,300, closing the week down -8.07%. Despite the correction, ETH still closed August with a monthly gain of +18.81%, underscoring the strength of its broader uptrend.ETF Flows:&nbsp;Price weakness did little to deter institutional demand. Spot ETH ETFs recorded over US$1.08 billion of inflows during the week, with Friday marking the only day of net outflows, according to <a href="https://sosovalue.com/assets/etf/us-eth-spot" rel="noopener noreferrer" target="_blank">SoSoValue</a>. For August, ETH ETFs attracted nearly US$3.9 billion in total inflows, highlighting persistent institutional investor appetite.Corporate Treasury Demand:&nbsp;On the corporate side, SharpLink Gaming (SBET) <a href="https://www.coindesk.com/business/2025/08/26/joe-lubin-s-sharplink-boosts-eth-holdings-to-nearly-800k-raised-usd361m-in-fresh-capital" rel="noopener noreferrer" target="_blank">disclosed</a> the addition of 56,533 ETH to its balance sheet, bringing total holdings to approximately US$3.6 billion. The firm raised US$360.9 million in net proceeds last week and still retains US$200 million in cash, signalling potential for further ETH acquisitions.&nbsp;<h2>Altcoins</h2>Large-cap altcoins retreated across the board this week, with all majors posting losses. <a href="https://coinstash.com.au/bnb/buy" rel="noopener noreferrer" target="_blank">Binance Token (BNB)</a> held up best, slipping -2.14%, followed by <a href="https://coinstash.com.au/sol/buy" rel="noopener noreferrer" target="_blank">Solana (SOL)</a> at -2.60%. <a href="https://coinstash.com.au/trx/buy" rel="noopener noreferrer" target="_blank">Tron (TRX)</a> declined -5.82%, ending its nine-week winning streak, while <a href="https://coinstash.com.au/doge/buy" rel="noopener noreferrer" target="_blank">Dogecoin (DOGE)</a> and <a href="https://coinstash.com.au/xrp/buy" rel="noopener noreferrer" target="_blank">XRP (XRP)</a> dropped -7.81% and -8.23% respectively. <a href="https://coinstash.com.au/ada/buy" rel="noopener noreferrer" target="_blank">Cardano (ADA)</a> was the weakest performer, sliding -10.70% and extending its recent downtrend,<h3>Biggest Gainers:</h3><ul><li>Cronos (CRO) +86.79%: <a href="https://coinstash.com.au/cro/buy" rel="noopener noreferrer" target="_blank">CRO</a> soared after Trump Media &amp; Technology Group <a href="https://decrypt.co/336876/trump-media-crypto-com-reveal-6-4-billion-cronos-treasury-plan" rel="noopener noreferrer" target="_blank">announced</a> a partnership with Crypto.com, revealing plans to acquire US$6.4 billion worth of CRO tokens to establish a large-scale crypto treasury.</li><li>Pyth Network (PYTH) +48.91%: <a href="https://coinstash.com.au/pyth/buy" rel="noopener noreferrer" target="_blank">PYTH</a> rallied after being <a href="https://www.pyth.network/blog/pyth-network-selected-by-u-s-department-of-commerce-to-verify-and-distribute-economic-data-onchain" rel="noopener noreferrer" target="_blank">selected</a> by the U.S. Department of Commerce to provide on-chain verification and distribution of official economic data, including GDP figures.</li><li>Story (IP) +26.55%: <a href="https://coinstash.com.au/ip/buy" rel="noopener noreferrer" target="_blank">IP</a> surged after the Story Foundation <a href="https://x.com/StoryProtocol/status/1961830159926854029" rel="noopener noreferrer" target="_blank">revealed</a> a US$2.98 million token purchase as part of its ongoing US$82 million buyback programme running through mid-November.</li></ul><h3>Biggest Losers:</h3><ul><li>Huobi (HT) -38.15%: <a href="https://coinstash.com.au/ht/buy" rel="noopener noreferrer" target="_blank">HT</a> slumped after traders locked in gains from last week’s pump, triggering a steep correction.</li><li>Bio Protocol (BIO) -36.41%: <a href="https://coinstash.com.au/bio0/buy" rel="noopener noreferrer" target="_blank">BIO</a> dropped as whales and traders took profits following last week’s Aubrai Ignition Sale, reversing its pre-launch momentum.</li><li>CHEX Token (CHEX) -31.07%: <a href="https://coinstash.com.au/chex/buy" rel="noopener noreferrer" target="_blank">CHEX</a> plunged amid rumours suggesting millions of tokens were moved from team wallets to exchanges, fuelling concerns of insider selling.</li></ul><h2>ICYMI - The Week in Crypto News</h2>Here are a few key stories you may have missed:<ul><li>US$2.5B+ in Solana DATs Announced: A wave of Solana Digital Asset Treasuries (DATs) are incoming, with Sharps Technology <a href="https://x.com/stsssol/status/1959994085844066694" rel="noopener noreferrer" target="_blank">raising</a> US$400 million, Pantera Capital <a href="https://cryptonews.com.au/news/pantera-capital-targets-1-25b-raise-for-worlds-largest-solana-treasury-130556/" rel="noopener noreferrer" target="_blank">reportedly</a> planning a US$1.25 billion bid to acquire and rebrand a Nasdaq-listed company into “Solana Co.”, a publicly traded vehicle focused on holding SOL; and a Galaxy–Multicoin–Jump consortium <a href="https://www.techinasia.com/news/crypto-giants-said-to-plan-1b-solana-treasury-deal-by-september" rel="noopener noreferrer" target="_blank">preparing</a> a separate US$1 billion SOL treasury initiative.</li><li>B Strategy to Launch US$1B BNB Treasury Company: Digital asset firm B Strategy, with backing from YZi Labs (formerly Binance Labs), announced plans to <a href="https://finance.yahoo.com/news/b-strategy-unveils-plans-binance-150057252.html" rel="noopener noreferrer" target="_blank">launch</a> a US$1 billion BNB Treasury company listed in the U.S.</li><li>Trump Media Reveal US6.4B CRO Treasury Deal: Trump Media &amp; Technology Group (DJT) <a href="https://decrypt.co/336876/trump-media-crypto-com-reveal-6-4-billion-cronos-treasury-plan" rel="noopener noreferrer" target="_blank">announced</a> a joint venture with Crypto.com to invest in CRO tokens as a treasury asset and pursue a public listing via a SPAC merger.</li><li>UAE Revealed as 4th Largest Government BTC Holder: Arkham Intelligence <a href="https://coincentral.com/uae-btc-treasury-hits-740m-ranking-4th-among-global-holders/" rel="noopener noreferrer" target="_blank">identified</a> wallets tied to the UAE government holding 6,300 BTC (worth ~US$740 million), ranking it among the top sovereign Bitcoin holders.</li><li>Bitwise Files for Chainlink (LINK) ETF: Bitwise has <a href="https://cointelegraph.com/news/bitwise-first-in-line-to-file-for-spot-chainlink-etf" rel="noopener noreferrer" target="_blank">filed</a> to launch a spot ETF tracking Chainlink’s native token LINK, reflecting rising institutional interest in oracle networks.</li><li>US Department of Commerce Publishes GDP Data Onchain: In a world-first, the U.S. Commerce Department has <a href="https://www.globalgovernmentfintech.com/department-of-commerce-usa-gdp-data-public-blockchains/" rel="noopener noreferrer" target="_blank">uploaded</a> GDP figures to nine blockchains through partnerships with <a href="https://blog.chain.link/united-states-department-of-commerce-macroeconomic-data/" rel="noopener noreferrer" target="_blank">Chainlink</a> and <a href="https://www.pyth.network/blog/pyth-network-selected-by-u-s-department-of-commerce-to-verify-and-distribute-economic-data-onchain" rel="noopener noreferrer" target="_blank">Pyth Network</a>, enabling real-time macroeconomic data access across the DeFi ecosystem.</li><li>Sonic Passes Proposal to Establish U.S. Entity: Sonic’s community <a href="https://snapshot.box/#/s:info.sonic/proposal/0x489f1583b2db1e6e752404626283249223a1dbfb7337f4fb7dbaf28b1da1b759" rel="noopener noreferrer" target="_blank">approved</a> a proposal to create a U.S.-based entity and launch a $S ETF, marking a key step toward U.S. market expansion.</li><li>Pudgy Penguins Game 'Pudgy Party' Launches on iOS and Android: NFT brand Pudgy Penguins, in collaboration with Mythical Games, has <a href="https://decrypt.co/337273/pudgy-penguins-game-pudgy-party-launches-on-ios-and-android" rel="noopener noreferrer" target="_blank">launched</a> Pudgy Party—a multiplayer mobile game now available globally on both Android and iOS.</li></ul><h2>Looking Forward - The Week Ahead</h2>Key upcoming events to watch:<ul><li>Starknet Upgrade (1 September): Starknet v0.14.0 will <a href="https://docs.starknet.io/learn/cheatsheets/version-notes" rel="noopener noreferrer" target="_blank">go live</a> on mainnet, introducing decentralised sequencing to the network.</li><li>Ondo Finance Tokenised Stocks (3 September): Ondo is <a href="https://x.com/OndoFinance/status/1958949354825273774" rel="noopener noreferrer" target="_blank">expected</a> to launch tokenised stock offerings, bridging traditional equity markets with blockchain-based assets.</li><li>U.S. Nonfarm Payrolls Data (5 September): Crucial labour market data will be <a href="https://www.bls.gov/news.release/empsit.nr0.htm" rel="noopener noreferrer" target="_blank">released</a>. Market participants will watch closely for signs of economic strength or weakness ahead of the next Fed meeting.</li><li>Token Unlocks (1–7 September): Over US$41 million in token unlocks are <a href="https://tokenomist.ai/" rel="noopener noreferrer" target="_blank">scheduled</a> this week, including Ethena (ENA) at US$26.39 million (0.64% of circulating supply), IOTA at US$2.88 million (0.42% of circulating supply), and Immutable (IMX) at US$12.55 million (1.27% of circulating supply).</li></ul> Thanks for reading this week’s Market Pulse. We’ll be back next week with more insights from the crypto markets!

Weekly Market Pulse - September 1, 2025

Weekly Market Pulse - 01/09/25

<h1>ETH Breaks All-Time High as Fed Signals Possible Rate Cuts</h1><h2>Market Highlights</h2><ul><li>Powell’s Dovish Surprise Boosts Markets: Fed Chair Jerome Powell signalled potential rate cuts as early as September, sparking a broad rebound across risk assets.</li><li>ETH Breaks All-Time High: ETH surged to a new USD record of US$4,957 over the weekend, closing the week up +6.80% and marking its third consecutive week of gains.</li><li>Spot ETH ETFs See First Weekly Outflows Since May: U.S. spot ETH ETFs recorded net outflows of –US$237 million, ending a months-long streak of inflows despite ETH’s price rally.</li><li>BNB Hits New All-Time High: BNB led large caps this week, climbing to US$900 for the first time and continuing its rally into price discovery.</li></ul><h2>Market Overview</h2>There is rarely a quiet week in crypto, and this one was no exception.Markets pulled back early in the week as investors positioned cautiously ahead of the Federal Reserve’s Jackson Hole symposium. However, sentiment shifted dramatically on Friday, when Fed Chair Jerome Powell struck a surprisingly dovish tone, opening the door to interest rate cuts as early as September.The remarks triggered an immediate rebound across risk assets, with the total crypto market cap climbing back above US$4 trillion. Ethereum (ETH) led the charge, breaking through its USD all-time high over the weekend, while large-cap altcoins such as Solana (SOL) and BNB (BNB) also rallied sharply.<h2>Bitcoin (BTC)</h2><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXdul9Nqpev_M1QuRljtcPqXBGCJ2xp6a_c3I3OjP_fmvWuC23a5jCwO6FpS4RJLwLFpNcRZ6IUJQ0G_V3017ivxyJoZzv8QOAB2ms7PRMlRnYWncaFlpcmjTrw8Dox9yBZaIw8g?key=85fvr1Pb3K8S6p7EpYLZsQ"><a href="https://coinstash.com.au/btc/buy" rel="noopener noreferrer" target="_blank">BTC</a> underperformed this week, falling –3.55% as capital rotated toward ETH and other altcoins. A brief rebound on Friday, following Powell’s dovish comments, quickly faded as selling pressure returned over the weekend. The decline was exacerbated by a long-dormant whale who offloaded 24,000 BTC (worth over US$2.7 billion) and <a href="https://thedefiant.io/news/markets/whale-dump-sends-bitcoin-to-110671-erases-3-billion-open-interest-0c898063" rel="noopener noreferrer" target="_blank">reportedly</a> rotated much of it into ETH — highlighting the contrasting momentum between the two assets.ETF Inflows:&nbsp;U.S. spot Bitcoin ETFs posted their largest weekly outflows since February, with US$1.17 billion withdrawn over six consecutive trading days, according to <a href="https://sosovalue.com/assets/etf/us-btc-spot" rel="noopener noreferrer" target="_blank">SoSoValue</a>.Corporate Treasury Demand:&nbsp;Bitcoin treasury firm KindlyMD <a href="https://x.com/nakamoto/status/1956459093130092936" rel="noopener noreferrer" target="_blank">completed</a> a US$200 million convertible note raise, with proceeds earmarked for expanding its BTC holdings.<h2>Ethereum (ETH)</h2><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXfGsox7St8NihTMoHI_wX_cSBUfvWbSp-4D1KB-t1lMunSwamAbxwz9CW9ZV35BQ6pq0aNWnWMTtttT13G-B6X4Do6dI5UxmV9jdp7EM66H3ezTYuXlnH6cmzrXELrzSyh_pFVieg?key=85fvr1Pb3K8S6p7EpYLZsQ">It took more than four years, but <a href="https://coinstash.com.au/eth/buy" rel="noopener noreferrer" target="_blank">ETH</a> finally broke its USD all-time high this week, reaching US$4,957 over the weekend. The rally was not without volatility: ETH briefly dipped to around US$4,071 midweek before rebounding strongly on Friday after Fed Chair Jerome Powell signalled that rate cuts could arrive as soon as September. ETH ended the week up +6.80%, marking its third consecutive week of gains.ETF Flows:Despite ETH’s milestone, U.S. spot ETH ETFs recorded their first week of outflows since May, according to <a href="https://sosovalue.com/assets/etf/us-eth-spot" rel="noopener noreferrer" target="_blank">SoSoValue</a>. Investors pulled nearly US$1 billion over four consecutive days of outflows. The trend finally reversed towards the end of the week, when ETFs saw US$628.7 million in inflows, but overall net flows for the week still closed at –US$237 million.Corporate Treasury Demand:Tom Lee’s investment firm BitMine <a href="https://coincentral.com/bitmine-buys-45m-in-ethereum-while-sitting-on-1-9b-in-unrealized-gains/" rel="noopener noreferrer" target="_blank">added</a> US$45 million worth of Ethereum, increasing its holdings to roughly 1.518 million ETH, valued at around US$7.19 billion. This cements BitMine’s position as the largest corporate holder of Ethereum globally.<h2>Altcoins</h2>Large-cap altcoins delivered a mixed performance this week. <a href="https://coinstash.com.au/sol/buy" rel="noopener noreferrer" target="_blank">Solana (SOL)</a> led with a +7.85% gain, extending its strong momentum in recent weeks. <a href="https://coinstash.com.au/bnb/buy" rel="noopener noreferrer" target="_blank">Binance Token (BNB)</a> climbed +2.45% to set a new all-time high of over US$900, continuing its surge into price discovery. <a href="https://coinstash.com.au/trx/buy" rel="noopener noreferrer" target="_blank">Tron (TRX)</a> also advanced, rising +2.40% and marking its ninth consecutive week of gains, with all-time highs now within reach.In contrast, <a href="https://coinstash.com.au/ada/buy" rel="noopener noreferrer" target="_blank">Cardano (ADA)</a> fell -5.47%, giving back some of last week’s strong gains. <a href="https://coinstash.com.au/doge/buy" rel="noopener noreferrer" target="_blank">Dogecoin (DOGE)</a> and <a href="https://coinstash.com.au/xrp/buy" rel="noopener noreferrer" target="_blank">XRP (XRP)</a> also edged lower, slipping -1.22% and -2.09% respectively.<h3>Biggest Gainers:</h3><ul><li>Memecoin (MEME) +100.25%: <a href="https://coinstash.com.au/meme2/buy" rel="noopener noreferrer" target="_blank">MEME</a> more than doubled, fuelled by a sharp spike in trading volume exceeding US$333 million in 24 hours. Whale accumulation hints at speculation around potential upcoming developments.</li><li>Bio Protocol (BIO): +81.18%: <a href="https://coinstash.com.au/bio0/buy" rel="noopener noreferrer" target="_blank">BIO</a> rallied strongly ahead of the <a href="https://x.com/BioProtocol/status/1958898560071868872" rel="noopener noreferrer" target="_blank">launch</a> of Aubrai, its first AI-powered decentralised science agent. Built in partnership with VitaDAO, the release has sparked strong interest from the DeSci community and investors.</li><li>OKB (OKB) +71.22%: <a href="https://coinstash.com.au/okb/buy" rel="noopener noreferrer" target="_blank">OKB</a> extended its rally following last week’s massive <a href="https://coincentral.com/okx-burns-26b-in-okb-tokens-capping-supply-at-21m-price-soars-193/" rel="noopener noreferrer" target="_blank">token burn</a>, which permanently removed over 279 million tokens (worth ~US$26 billion) from circulation. The resulting supply shock continues to drive bullish momentum.</li></ul><h3>Biggest Losers:</h3><ul><li>Venice (VVV) -21.25%: After ranking among last week’s top gainers, <a href="https://coinstash.com.au/vvv/buy" rel="noopener noreferrer" target="_blank">VVV</a> retraced as the much-anticipated Venice upgrade proved to be a classic “sell the news” event, with traders taking profits post-launch.</li><li>Pump.fun (PUMP) -20.08%: <a href="https://coinstash.com.au/pump3/buy" rel="noopener noreferrer" target="_blank">PUMP’s</a> fell sharply after the project transferred 2.5 billion tokens (worth over US$9 million) to exchanges. The move sparked panic among holders, fuelling concerns that the team was offloading tokens despite previously announcing a buyback programme.&nbsp;</li></ul><h2>ICYMI - The Week in Crypto News</h2>Here are a few key stories you may have missed:<ul><li>MetaMask Unveils mUSD Stablecoin: MetaMask announced the <a href="https://decrypt.co/336147/metamask-unveils-musd-stablecoin-ethereum-linea-teases-debit-functionality" rel="noopener noreferrer" target="_blank">launch</a> of mUSD, a dollar-backed stablecoin issued by Stripe subsidiary Bridge. It will be integrated into MetaMask's ecosystem, launching first on Ethereum and Linea, and available via its Mastercard-powered debit card.</li><li>VanEck Files for JitoSOL ETF: VanEck has <a href="https://x.com/ThomasUhm/status/1958930030232318210" rel="noopener noreferrer" target="_blank">applied</a> to the U.S. SEC for a JitoSOL ETF, which would track the performance of Solana’s liquid staking token JitoSOL, offering staking exposure without locking assets.</li><li>KindlyMD Closes US$200M Raise to Buy More Bitcoin: Bitcoin treasury firm KindlyMD has <a href="https://x.com/nakamoto/status/1956459093130092936" rel="noopener noreferrer" target="_blank">raised</a> US$200 million via a convertible note offering to expand its BTC holdings.</li><li>Ripple and SBI Plan RLUSD Stablecoin Launch in Japan: Ripple and SBI Holdings will <a href="https://decrypt.co/336380/ripple-sbi-to-launch-rlusd-stablecoin-japan-early-2026" rel="noopener noreferrer" target="_blank">launch</a> the RLUSD stablecoin in early 2026, capitalising on Japan’s new stablecoin laws to introduce foreign issuers into the market.</li><li>Sonic Labs Proposes $150M Token Issuance for U.S. Expansion: Sonic Labs has <a href="https://x.com/SonicLabs/status/1958147376910389742" rel="noopener noreferrer" target="_blank">introduced</a> a governance proposal seeking approval for a $150 million token issuance to support its entry into U.S. capital markets. Plans include forming Sonic USA LLC, launching a $S ETF, and pursuing a Nasdaq PIPE listing.&nbsp;</li><li>LayerZero Acquires Stargate Finance for $120M: Cross-chain messaging protocol LayerZero has <a href="https://www.tradingview.com/news/coinmarketcal:f680c4340094b:0-layerzero-zro-stargate-finance-stg-zro-acquires-stg-24-aug-2025/" rel="noopener noreferrer" target="_blank">acquired</a> multichain bridge Stargate Finance in a $120 million deal paid in ZRO tokens. The Stargate DAO approved the merger with 94% support. ZRO will become the unified token for both protocols.</li><li>Kanye West’s YZY Token Debuts on Solana: Kanye West <a href="https://decrypt.co/336179/kanye-west-launches-yzy-token-solana-frenzied-debut" rel="noopener noreferrer" target="_blank">launched</a> the YZY token via his official X account as part of a broader “YZY Money” payments initiative. The token briefly surged to a multibillion-dollar valuation before pulling back sharply.</li><li>Wyoming Launches State-Backed Stablecoin: Wyoming has officially <a href="https://www.coindesk.com/business/2025/08/19/wyoming-state-debuts-u-s-dollar-stablecoin-on-seven-blockchains" rel="noopener noreferrer" target="_blank">launched</a> the Frontier Stable Token (FRNT), the first fully reserved stablecoin issued by a U.S. public entity.&nbsp;</li></ul><h2>Looking Forward - The Week Ahead</h2>Key upcoming events to watch:<ul><li>WebX 2025 (25–26 August): Asia’s largest Web3 conference <a href="https://webx-asia.com/" rel="noopener noreferrer" target="_blank">continues</a> in Tokyo this week. Watch for new partnerships and adoption updates across the region.</li><li>JUP Token Unlock (28 August): Approximately US$28.05 million worth of JUP tokens (1.78% of circulating supply) will be <a href="https://tokenomist.ai/" rel="noopener noreferrer" target="_blank">unlocked</a>. The release may create short-term sell pressure.</li><li>Sonic Proposal Ends (31 August): Community voting <a href="https://x.com/SonicLabs/status/1958147376910389742" rel="noopener noreferrer" target="_blank">concludes</a> on whether to establish a US-based entity and launch a S ETF. If passed, it could signal a push towards institutional legitimacy and broader access.</li><li>SUI Token Unlock (1 September): Approximately US$163.22 million in SUI tokens (1.25% of circulating supply) is set to be <a href="https://tokenomist.ai/" rel="noopener noreferrer" target="_blank">unlocked</a>. The event may weigh on price if market demand fails to absorb the new supply.</li><li>HeyAnon Protocol Upgrade (Date TBC): Founder Daniele Sesta <a href="https://x.com/danielesesta/status/1958838227017617788" rel="noopener noreferrer" target="_blank">confirmed</a> HeyAnon 1.0 will launch this week. It’s the protocol’s biggest upgrade yet, with limited details but high expectations.</li><li>EtherFi Perps Launch (Date TBC): EtherFi is anticipated to launch perpetual contracts powered by Hyperliquid this week, expanding its DeFi offering with leveraged trading functionality.</li></ul> Thanks for reading this week’s Market Pulse. We’ll be back next week with more insights from the crypto markets!

Posts by Chris Graham

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