Stay in the loop with our weekly crypto digest as we get you up to speed on the hottest trends and events in the crypto space.
Here’s what happened in crypto this week:
Grayscale Files S-1 With SEC To Convert Avalanche Trust Into Spot AVAX ETF
Grayscale has filed an S-1 with the SEC to transform its Avalanche Trust into a spot $AVAX ETF, potentially opening doors for broader investor access to Avalanche’s native token via traditional markets.
If approved, it could simplify exposure to AVAX for institutional and retail investors through conventional brokerage accounts.
The move reflects growing interest in altcoin ETFs, following similar filings for other assets. However, SEC approval is not guaranteed, as past delays on AVAX ETF decisions show regulatory hesitance in the crypto space.
Philippines Proposes 10,000 BTC Strategic Reserve With 20-Year Lockup
The Philippines is considering a bill to build a strategic Bitcoin reserve of 10,000 BTC, locked for 20 years, as a long-term sovereign asset, only usable to retire government debt.
Notably, the central bank would accumulate BTC over time, treating it akin to gold reserves for national security.
The 20-year lockup underscores a generational bet on Bitcoin’s value appreciation. It’s a play for resilience, not quick liquidity, potentially inspiring other emerging markets to follow suit.
Gemini Rolls Out XRP Credit Card With Up To 4% Cashback
Crypto exchange Gemini has unveiled a new partnership with Ripple to launch an XRP-backed version of its popular cashback credit card.
Cardholders can earn up to 4% back in XRP on fuel, EV charging, and rideshare expenses, 3% on dining, 2% on groceries, and 1% on all other transactions. In addition, Gemini said it will partner with select merchants to offer as much as 10% back in XRP on eligible purchases.
The product, issued by WebBank, allows users to earn cryptocurrency rewards across everyday purchases.
Trump Media & Technology Group, Yorkville Acquisition, and Crypto.com have agreed in a business combination to establish a digital-asset treasury company.
The new company will be called Trump Media Group CRO Strategy. It will be focused on acquiring $CRO, the native cryptocurrency token of the Cronos ecosystem.
At the close of the transaction, the three companies will have majority ownership of the new entity.
Expected funding for the digital-asset treasury will consist of $1 billion in CRO, $200 million in cash, and $220 million in mandatory exercise warrants, with an additional $5 billion equity line of credit from an affiliate of Yorkville.
US Department Of Commerce To Start Issuing Economic Data On The Blockchain
The US Department of Commerce is reportedly set to issue national statistics, like GDP, on the blockchain, according to US Commerce Secretary Howard Lutnick.
This move marks a significant step toward integrating decentralized technology into government data systems.
Such a shift might redefine how economic data is accessed and verified globally. It also aligns with broader US efforts to explore blockchain, as seen in bipartisan bills like the Deploying American Blockchains Act.
Google Cloud Is Developing Its Own Blockchain For Payments, Currently In Private Testnet
Google Cloud has revealed that its proprietary Layer-1 blockchain software is currently operating on a private testnet.
The project aims to enable enterprises to deploy scalable, secure, and interoperable blockchain networks.
While details remain limited, the move signals Google’s deepening involvement in enterprise-grade distributed ledger technology, potentially reshaping how businesses integrate blockchain solutions into cloud infrastructure.
MetaMask has just introduced a game-changer with a social login feature, allowing users to create and manage crypto wallets using their Google or Apple accounts. No more seed phrase hassle—onboarding to Web3 just got simpler.
This update lowers the entry barrier for newcomers by linking wallet creation to familiar Web2 logins. It is a slick move to bridge mainstream users into crypto without the tech friction of seed phrases.
While easing access, it raises questions about centralization risks with Google and Apple as gatekeepers. Still, MetaMask emphasizes self-custody, ensuring users retain control over their assets, even with the social login layer.
Final Thoughts
So that’s it for this week!
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Have a fantastic week ahead!