Crypto Market Recap: Cardano’s CTO Departs, Grayscale Pulls ETF Apps, and Hedge Funds Turn Bullish
The crypto market opened the new week with a mix of institutional progress and ecosystem adjustments. Bitcoin is holding above $65,000 , while altcoins show mixed performance.
Let us dig into the main crypto news today.
The New York Stock Exchange is advancing its blockchain initiatives with plans to establish an onchain settlement platform for tokenized securities. President Lynn Martin announced the move, which follows NYSE’s participation in a DTCC tokenization pilot.
The platform aims to bridge traditional finance with decentralized finance through blockchain infrastructure development. This is a big step toward bringing trillions in traditional assets onto blockchain rails.
What you'll learn 👉
Bitcoin ETFs Had Strongest Weekly Inflows Since April
U.S. Bitcoin exchange-traded funds witnessed their strongest weekly inflows since April, driven by heightened security concerns after the Coldcard hardware wallet exploit. The incident shifted attention to institutional products as safer custody solutions amid growing awareness of self-custody risks.
Several major ETFs, including BlackRock’s IBIT and Fidelity’s FBTC, recorded inflows every day following the hack. The timing suggests a rotation from self-custody to regulated products.
Coinsbuy suffered a cyberattack resulting in over $8 million in losses due to unauthorized fund drainage on Ethereum and TRON networks. On-chain analysts, including Specter, are actively working to trace and freeze stolen assets.
The incident underscores ongoing security challenges within the crypto ecosystem. Exchanges and custodians remain prime targets for hackers.
Grayscale Pulls ETF Applications, Hedge Funds Turn Net Long on Bitcoin Futures
Grayscale Investments has withdrawn ETF registration applications for Cardano (ADA) , Hedera (HBAR) , and Polkadot (DOT) with the SEC. While these specific filings will not move forward, Grayscale maintains active applications for other altcoin ETFs.
The move reflects strategic adjustments in product offerings. Grayscale is prioritizing assets with stronger institutional demand and regulatory clarity.
Hedge funds have changed to a net long position in Bitcoin futures on the CME, as reported by CryptoQuant. This position change indicates increased bullish sentiment among institutional traders, utilizing CME’s regulated platform for Bitcoin derivatives trading.
The change from net short to net long is a significant sentiment indicator. Institutions are positioning for higher prices.
Buyers have cut PUMP’s multiple because the token earns on follower buys after calls and a later caller exit. With that turnover, Pump funds burns now, but repeated reversals cut retention and future burn support. On August 12 , 6.875 billion PUMP is set to unlock, about 1.7% of circulating supply.
The unlock could create selling pressure if holders decide to take profits. Traders are watching closely.
Cardano Foundation CTO Departs
Cardano Foundation announced that Giorgio Zinetti will leave the Foundation on August 31. Zinetti joined as CTO in 2024 and contributed to the Foundation’s work over the past two years.
Today we share the news that Giorgio Zinetti will leave the Cardano Foundation on August 31st. We would like to thank Giorgio for his support and major contribution to the work of the Foundation and Cardano since he joined us as CTO in 2024. We wish him the very best in his new… https://t.co/V8lN0ox8j8
— Cardano Foundation (@Cardano_CF) August 10, 2026
The Foundation said it remains committed to driving ongoing development to bridge Cardano and the world. The technical team will continue its work under the existing roadmap.
Strive (ASST) bought an additional 147 Bitcoin and now holds a total of 20,167 BTC. The company continues its accumulation strategy, adding to its corporate treasury.
Subscribe to our YouTube channel for daily crypto updates, market insights, and expert analysis.
