The final week of July 2025 demonstrated how quickly crypto’s infrastructure is converging with traditional finance. Major institutions advanced product access, the SEC moved to streamline ETF operations, and payment giants opened the doors to broader adoption. While regulatory delays persisted, the week’s developments underscored a decisive shift toward mainstream utility and institutional accessibility.

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1. SEC Launches ‘Project Crypto’ to Onchain U.S. Markets

In a surprise announcement, the U.S. Securities and Exchange Commission unveiled Project Crypto, a strategic initiative aimed at migrating traditional markets onto blockchain rails. The program outlines goals to position the U.S. as the global leader in digital finance, including support for tokenized securities, real-time settlement, and DeFi policy alignment.

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Impact: This is a generational policy shift. By formalizing a path to onchain capital markets, the SEC is not only validating blockchain as financial infrastructure but also inviting institutions to build atop it. Project Crypto may become the regulatory catalyst that turns U.S. capital markets into a programmable, real time system.

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2. JPMorgan Partners with Coinbase to Simplify Crypto Access

JPMorgan, managing over $4 trillion in assets, announced a new partnership with Coinbase to integrate direct crypto access for clients, enabling streamlined Bitcoin and Ethereum purchases through JPM’s private banking network.

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Impact: This partnership is a watershed moment for institutional crypto access. JPMorgan’s endorsement of Coinbase as an infrastructure partner offers credibility and a trusted on ramp for high net worth clients, family offices, and corporate treasuries. Expect accelerated capital flow into regulated crypto products.

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3. SEC Greenlights In Kind Creations and Redemptions for Crypto ETFs

The SEC officially approved in kind creation and redemption mechanisms for Bitcoin and Ethereum ETFs, allowing fund managers to exchange actual crypto assets instead of using cash during share issuance or redemption.

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Impact: This structural shift enhances tax efficiency, minimizes slippage, and brings crypto ETFs closer to the operational standards of traditional ETFs. For institutional allocators, the reduced friction may unlock larger positions and make crypto ETFs more attractive in multi asset portfolios.

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4. PayPal Expands Merchant Crypto Support

PayPal announced it will now allow its global network of over 30 million merchants to accept direct crypto payments in Bitcoin, Ethereum, and select stablecoins.

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Impact: PayPal’s expansion transforms crypto from a speculative asset into a transactional currency at scale. By bridging payments infrastructure with Web3 value transfer, this move could catalyze real world utility for digital assets, especially in ecommerce and small business sectors.

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5. BTCS Inc. Files $2B Shelf Offering, Signals ETH Purchases

BTCS Inc. filed a $2 billion shelf offering, disclosing that part of the proceeds may be used to acquire Ethereum, adding to its blockchain infrastructure strategy.

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Impact: This is one of the largest disclosed ETH treasury acquisition strategies to date. It highlights Ethereum’s growing appeal to public companies, not just as a network or asset but as a capital allocation strategy mirroring Bitcoin’s early adoption by corporates.

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ETF Watch: Expansions, Filings, and Delays

• SEC approves in kind redemptions for Bitcoin and Ethereum ETFs

• Grayscale’s Spot Solana and Litecoin ETFs delayed

• Truth Social’s Bitcoin ETF delayed

• Invesco Galaxy files for Spot Solana ETF on Cboe

• SEC acknowledges BlackRock’s amendment to include ETH staking

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Impact: This week’s ETF developments point to maturing mechanics and competitive expansion. In kind redemptions enhance operational efficiency, while new filings especially those tied to staking or alternative L1s like Solana signal strong issuer confidence and growing institutional demand for diversified crypto exposure.

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Closing Outlook

Week 31 marked a pivotal chapter in crypto's integration into legacy finance. From JPMorgan onboarding Coinbase, to ETF structures being refined for scale, and PayPal normalizing crypto for daily transactions, the barriers between traditional and digital finance continue to dissolve.

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Regulatory delays persist, but the tempo of innovation has clearly outpaced hesitation. With infrastructure now aligning on multiple fronts custody, liquidity, payments, and fund structure the groundwork for crypto’s institutional phase is nearly complete.

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Crypto’s next chapter isn’t speculative it’s systemic.

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Disclaimer: This blog is intended solely for informational purposes and is directed at our followers in Switzerland. It does not represent an opinion, legal, or investment advice, nor does it create any obligation or responsibility for FiCAS.

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