Crypto Market Update: Ethereum Funds Draw US$2.12 Billion in Record-breaking Week

Bitcoin and Ethereum price update

Bitcoin (BTC) was priced at US$116,854, down by 1.2 percent over the last 24 hours and its lowest valuation of the day. The highest valuation today was US$119,100.

Bitcoin price performance, July 21, 2025.

Chart via TradingView.

The signing of the GENIUS Act, which will regulate stablecoins with one-to-one reserves, sparked renewed investor confidence in stablecoins, while Bitcoin pulled back slightly.

Last week’s spot-Bitcoin exchange-traded fund (ETF) inflows reached roughly US$2.2 billion, supporting market momentum. Analysts note institutional interest remains strong but still has room to grow.

Ethereum (ETH) was priced at US$3,733.95, down by 0.7 percent over the past 24 hours. Its lowest valuation as of Monday was US$3,731.27, and its highest was US$3,848.92.

Altcoin price update

• Solana (SOL) was priced at US$193.61, up by 6.3 percent over 24 hours. Its lowest valuation on Monday was US$191.12 as the markets opened for the day, and its highest was US$198.29.

• XRP was trading for US$3.54, up 0.2 percent in the past 24 hours. The cryptocurrency’s lowest valuation was US$3.53 as the markets opened, and its highest was US$3.64.

• Sui (SUI) is trading at US$3.95, up by 0.1 percent over the past 24 hours. Its lowest valuation of the day was US$3.96 and its highest was US$4.09.

• Cardano (ADA) was trading at US$0.8794, up by 0.6 percent over 24 hours, and its lowest violation of the day. Its highest was US$0.9295.

Today’s crypto news to know

Crypto funds record all-time high weekly inflows

Digital asset investment products posted an impressive US$4.39 billion in inflows last week, marking the highest weekly total on record, according to data from CoinShares.

This eclipses the previous high of US$4.27 billion set in late 2024, highlighting a fresh wave of institutional demand.

Ethereum products accounted for US$2.12 billion — their strongest weekly showing ever — nearly matching the US$2.2 billion inflow into Bitcoin funds. Analysts have attributed the spike to increasing confidence in the cryptocurrency, bolstered by improving US regulatory clarity and ongoing ETF demand.

Altcoins like Solana and Avalanche also saw gains, but ETH led the market by volume and momentum. The current 14 week streak of inflows has now pushed 2025’s year-to-date total beyond 2024’s full-year inflows.

CoinShares notes that Ethereum’s US$6.2 billion year-to-date figure now represents 23 percent of total ETH assets under management, underscoring a shift in portfolio allocation trends.

Ether Machine set to raise over US$1.6 Billion in Nasdaq debut

The Ether Reserve, a new institutional vehicle holding Ethereum, is going public via a merger with energy investment firm Dynamix (NASDAQ:DYNX). The deal, which will list the combined entity under the name ‘The Ether Machine” on the Nasdaq, is expected to raise more than US$1.6 billion and launch with 400,000 ETH on its balance sheet.

This would make it the largest publicly traded Ethereum-holding entity to date.

Shares of Dynamix surged over 100 percent in premarket trading following the announcement.

Investors backing the deal include major industry names such as Blockchain.com, Kraken, and Pantera Capital, who have committed over US$800 million through an upsized common stock offering.

Ether has climbed steadily amid regulatory clarity around stablecoins and new institutional inflows.

Andrew Keys, formerly of ConsenSys, will chair the board. Once finalized, the company will trade under the ticker “ETHM,” with deal closure expected by Q4 2025.

BitGo submits IPO filing

Digital asset custodian BitGo announced that it has confidentially submitted a draft registration statement on Form S-1 to the Securities and Exchange Commission (SEC) for a proposed IPO of its Class A common stock.

The filing adds the company to a growing list of crypto companies seeking public exposure. Bullish, a crypto exchange, recently filed for an IPO with the SEC, with plans to list on the New York Stock Exchange, and crypto asset manager Grayscale also submitted a filing to the SEC earlier this month.

GameSquare expands digital asset treasury

Building on its previously outlined ETH strategy, GameSquare Holdings (NASDAQ:GAME), a next-generation media and technology company, has expanded its digital asset treasury, with its board of directors approving an increase in the program’s authorization from US$100 million to US$250 million.

In an press release, the company explained that this expanded framework now includes a new NFT yield strategy, allocating an initial US$10 million. The company aims to deploy capital into high-quality Ethereum-based assets to generate sustainable stablecoin yields, targeting a 6- to 10 percent return.

CEO Justin Kenna emphasized that this initiative, developed over months of planning, represents “the future of capital strategy for modern media companies,” focused on generating “real on-chain yield that funds innovation.”

‘We are excited to be among the first public companies to include NFTs as part of a diversified digital asset strategy, Kenna added. “This reflects the innovative approach to our treasury management initiatives. With deep experience building in-game and real-world creative environments, GameSquare is uniquely positioned to understand the cultural and economic value of these digital assets.”

Aave to launch centralized services

Major crypto lending platform Aave will soon launch a centralized version of its services on Kraken’s Ink blockchain.

An Aave request for comment for the deployment of a whitelabel version of Aave v3 for the Ink Foundation, the organization behind the Ink blockchain, was approved with 99.8 percent of the votes cast in favor. An Aave Improvement Proposal (AIP) will be drafted next, followed by an on-chain vote. This partnership aims to expand Aave’s reach into institutional lending, generating new revenue for the Aave community.