June saw continued institutional adoption, major regulatory milestones, and rapid infrastructure development across the digital asset industry.

Regulation

  • Treasury Secretary Scott Bessent reaffirmed plans for a US Strategic Bitcoin Reserve and backed passage of the CLARITY Act this summer.
  • Concerns are emerging that the CLARITY Act's legislative window could narrow as the US approaches midterm elections. 60+ crypto founders publicly supported the bill.
  • The Federal Reserve held interest rates unchanged. BTC traded modestly lower on the announcement.
  • Japan advanced legislation to classify crypto assets as financial instruments under the Financial Instruments and Exchange Act (FIEA).
  • Philippines banned privacy coins, including Monero and Zcash, under updated VASP regulations.
  • Binance withdrew its MiCA licence application in Greece and is pursuing authorization through another EU jurisdiction. Missing the 1 July deadline could significantly restrict its ability to serve EU clients.
  • MiCA enters full implementation on 1 July. Non-compliant stablecoins, including USDT, continue to face restrictions and delistings across regulated European platforms.

TradFi

  • BlackRock launched the iShares Bitcoin Premium Income ETF (BITA), a covered-call BTC strategy designed to generate monthly income.
  • Professional Bitcoin ETF holdings declined 17% in Q2, while major US banks increased exposure. JPMorgan added ~3,000 BTC equivalent, Wells Fargo ~4,000; Citi and Intesa Sanpaolo initiated positions.
  • Coinbase Institutional reported continued BTC accumulation by family offices and sovereign wealth funds during recent market weakness.

Infrastructure

  • Tokenized real-world assets (RWAs) up 589% since early 2025, per Binance Research.
  • Janus Henderson adopted USDe for treasury cash management and disclosed an ENA position.
  • LG Electronics is developing an Arbitrum-based blockchain initiative for digital advertising.
  • Ethereum researchers proposed a low-cost post-quantum account security upgrade.

Payments

  • US regulators proposed bank-level customer identification requirements for stablecoin issuers under the GENIUS Act.
  • Tether and Fasset launched a Visa card offering cashback rewards denominated in XAUT, Tether's tokenized gold product.
  • Mastercard launched Agent Pay for Machines with Coinbase, OKX, Stripe, Ripple and other partners.
  • Ripple released the XRPL AI Starter Kit, enabling AI-agent payments using XRP and RLUSD.
  • Coinbase launched Coinbase for Agents, connecting AI assistants directly to user accounts.
  • Alchemy introduced AgentCard, giving AI agents Visa payment capabilities.
  • Travala launched a Travel MCP enabling AI-powered hotel bookings in USDC.

Derivatives

  • CFTC approved the first regulated perpetual futures products in the United States.
  • Kraken launched CFTC-regulated perpetual futures for US traders through Bitnomial.
  • Arthur Hayes warned that traditional exchanges could challenge Hyperliquid's dominance in perpetual futures markets.

Capital

  • Digital Asset, the company behind Canton Network, raised $355M at a $2B valuation, with ADIA, Citadel Securities, BNP Paribas, HSBC and a16z participating.
  • Strategy signaled additional Bitcoin purchases and now holds 843,738 BTC.
  • JPMorgan adopted a more cautious stance on digital assets after Strategy's available cash reserves declined.

Elsewhere

  • Former Celsius CEO Alex Mashinsky received a permanent ban from commodities trading.
  • US senators introduced a resolution opposing clemency for Sam Bankman-Fried.
  • Chainalysis identified a crypto-powered grey-market peptide ecosystem exceeding $100M in volume.

The month confirmed three key trends: growing institutional participation, increasing regulatory clarity, and continued maturation of digital asset markets.

MidChains is a regulated digital asset platform and OTC desk built for institutional clients and qualified investors. Discover more news about the institutional crypto market on our blog.

Disclaimer: This content is for informational purposes only and does not constitute investment, financial, legal, or tax advice, nor a solicitation, offer, or recommendation to buy, sell, or hold any virtual asset. Virtual assets are highly volatile and can lose their value in full or in part. Investors can lose everything they invest and are not protected by any financial safeguards. Past performance is not indicative of future results. Do your own research and consult independent licensed advisors before making any decision relating to virtual assets.

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