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Leading cryptocurrencies rose slightly on Tuesday as investors weighed renewed tensions in the Middle East and the Federal Reserve’s upcoming decision on interest rates.
Investors will also look forward to the Federal Reserve’s decision on Wednesday, with odds around 70% that interest rates will remain unchanged, according to the CME FedWatch tool.
Robinhood Chain Overtakes Solana, Ethereum for Real-World Asset Trading
$Robinhood Markets Inc.(HOOD)$ has quickly turned its newly launched Ethereum Layer-two network into the leading blockchain by number of real-world asset holders. According to 21Shares investment strategist Max Michielsen, Robinhood Chain now has roughly 328,000 holders of tokenized RWAs, more than any other blockchain network.
The milestone comes less than a month after the network’s mainnet launch. Tokenized assets on the chain nearly doubled over the past week to around $24 million, excluding stablecoins, while the number of listed assets climbed to 97. Robinhood can promote blockchain-based financial products directly to approximately 28 million funded brokerage accounts.
Morgan Stanley Makes Bold Crypto ETF Play With Cheapest Ethereum, Solana Funds
Morgan Stanley Investment Management has expanded its digital asset lineup with the launch of the Morgan Stanley Ethereum Trust and Morgan Stanley Solana Trust, introducing what Bloomberg Intelligence ETF analyst Eric Balchunas called the biggest Ethereum and Solana ETF launches since the initial spot cryptocurrency ETFs.
The two ETFs began trading on Tuesday and seek to track the performance of ether and Solana’s SOL token, respectively. Each fund carries an expense ratio of 0.14%, making them the lowest-cost products in their categories, according to Balchunas.
Trump 'Exploiting' Crypto's Legal Loopholes and Enforcement Weakness, Says Richard Blumenthal
Sen. Richard Blumenthal (D-Conn.) on Tuesday accused President Donald Trump of exploiting cryptocurrency regulatory gaps, arguing the Clarity Act in the current form does not do enough to prevent abuses.
Blumenthal stated on X that existing “legal loopholes” and weak enforcement need “real” safeguards, not “smokescreen steps” in the Clarity Act.
Blumenthal, Ranking Member of the Senate Permanent Subcommittee on Investigations, said Trump is “exploiting” these gaps, and demanded mandatory divestment of cryptocurrencies by Trump, his family, and officials.
The Senator posted a video of his Tuesday statement at a public forum on Trump’s alleged cryptocurrency corruption, where he said, “Crypto is now in a kind of enforcement nether world where we depend on laws that were not designed to protect against crypto abuses.”
Crypto Exchange Shakeout Deepens as BitMEX, BitMart, and AscendEX Exit the Market
BitMEX’s closure is no longer an isolated event. Within days, BitMart announced its own wind-down, while AscendEX had already confirmed it would cease operations earlier this month. Three centralized crypto exchange platforms exiting within weeks have shifted attention from individual failures to whether the industry is entering a new phase of consolidation.
The timing comes as trading activity remains well below previous bull market peaks. Retail participation has cooled, compliance costs continue rising, and liquidity is increasingly flowing toward a handful of global exchanges. Together, those trends are making it harder for smaller and mid-sized platforms to compete.
Bitcoin Spot ETF Flow
The overall net outflow of the US Bitcoin spot ETF on Tuesday was $49.75 million. The total net asset value of Bitcoin spot ETFs is $51.32 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 6.02%.
The Bitcoin spot ETF with the highest net outflow on July 28 was iShares Bitcoin Trust, with a net outflow of $54.83 million, according to SoSoValue.
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