Overview
- The SEC granted a temporary five‑year exemption that allows qualifying trading venues to facilitate tokenised U.S. equity trading under specific conditions, giving institutions a clearer path to use blockchain for regulated stock trading.
- U.S. spot crypto products saw massive single‑day demand on Sept. 21, with roughly $999 million net inflows into spot Bitcoin ETFs and about $270 million into spot Ether ETFs, according to SoSoValue and market reports.
- Prices climbed across the market: Bitcoin hit an eight‑month peak near $87,350 and is trading in the mid‑$80,000s, Ethereum moved above $2,700, XRP cleared $1.60, Zcash topped $1,600 after a new European ETP, and Dogecoin briefly neared $0.10.
- Large on‑chain moves and corporate buys concentrated capital: Strategy disclosed a 950 BTC purchase taking its holdings to about 846,000 BTC, BitMine added ETH, whales accumulated XRP and DOGE, and exchanges recorded rising deposits that could increase near‑term selling pressure.
- Market observers say the rally is liquidity driven and carries risks: agency exemptions have filled the policy gap left by the failed Clarity Act, but concentrated flows, short‑liquidity clusters, and pending SEC/CFTC rule proposals could raise volatility and reshape trading access.