Happy Friday! Welcome to the 20th instalment of the Coinbyte Weekly Wrap.

The crypto market traded in a broader risk-off range this week, with BTC climbing toward the upper-US$77,000 range before reversing sharply and falling back toward the low-US$73,000 area. Bitcoin briefly tested above US$77,900 during the week before settling near US$73,700, posting a weekly decline of approximately 4.99%. Price action reflected persistent selling pressure after several failed rebound attempts, with volatility picking up notably in the second half of the week.Large-cap altcoins also closed the week firmly in negative territory. Ether declined 5.72%, Solana fell 5.46%, DOGE lost 5.28%, while Cardano once again underperformed among major tokens with a 5.92% weekly drop. BNB showed comparatively better resilience, slipping 3.08%, while TRX declined 3.92%.Trading activity remained relatively active despite the pullback. BTC average daily trading volume rose to roughly US$40.1bn over the past 24 hours, well above its 7-day average of US$29.7bn, suggesting increased short-term volatility and active repositioning. USDT turnover stayed elevated at around US$85.4bn daily, while ETH and SOL recorded approximately US$17.9bn and US$3.6bn respectively.Overall, this week’s market action reflected a broader cooling across both Bitcoin and major altcoins, with investors turning more cautious as recent recovery momentum faded and market sentiment weakened across the board.

This week saw continued institutional expansion and accelerating tokenization, reinforcing crypto’s deeper integration into traditional financial markets.Corporate treasury accumulation remained active, with Bitmine completing its largest ETH purchase of 2026 and Strive further expanding its Bitcoin holdings. Institutional demand also extended into new crypto investment products, as Bitwise’s spot Hyperliquid ETF surpassed US$30m in assets within days of launch.Meanwhile, tokenization momentum continued building. DTCC advanced plans to connect its tokenized asset platform to Stellar for blockchain-based settlement of stocks, ETFs and Treasuries, while Jefferies projected crypto IPOs and tokenized finance could eventually create a US$1tn market opportunity.Regulatory activity also stayed in focus. U.S. lawmakers introduced a revised Strategic Bitcoin Reserve bill, Hong Kong moved forward with new crypto licensing rules, and the SEC delayed broader tokenized stock exemptions amid pushback from traditional market participants.Overall, this week reflected growing institutional participation, expanding tokenization infrastructure, and continued convergence between crypto and traditional finance.

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Newsflow

Institution | Bitmine Adds 111,942 ETH Holdings

Despite Tom Lee suggesting Bitmine could slow the pace of accumulation, the Ethereum treasury firm completed its largest ETH purchase of 2026 last week. Bitmine acquired 111,942 ETH worth roughly $237 million, accelerating its buying activity to take advantage of ETH trading below the $2,200 level and further expanding its corporate Ethereum reserve strategy.link

Tokenization | DTCC plans to integrate with Stellar.

DTCC, the core clearing infrastructure behind U.S. securities markets, plans to connect its tokenized asset platform to the Stellar blockchain by the first half of 2027 as part of its expanding multi-chain strategy. The initiative aims to support blockchain-based issuance and settlement for tokenized stocks, ETFs and U.S. Treasuries, marking another major step in Wall Street’s push to bring traditional financial assets onto public blockchain infrastructure.link

More News

Institution | Bitwise’s spot Hyperliquid ETF (BHYP) surpassed $30 million in assets within five trading days of launch, as competition among asset managers to offer regulated exposure to Hyperliquid accelerates. The launch follows similar products from 21Shares, while Grayscale is also pursuing a Hyperliquid ETF, highlighting rising institutional interest in DeFi-native trading infrastructure.link

Whale | A Satoshi-era Bitcoin holder moved 2,650 BTC worth over $200 million to crypto trading firms FalconX and Cumberland through multiple transactions on Sunday, according to on-chain data tracked by Onchain Lens. The transfer adds to a broader trend of dormant early Bitcoin wallets becoming active again, drawing market attention to potential liquidity movements from long-term holders.link

Regulation | U.S. lawmakers introduced a new bipartisan Strategic Bitcoin Reserve bill that would place government-held BTC into a 20-year reserve lockup while removing the previous proposal’s target to acquire 1 million BTC. The bill would also require quarterly reserve disclosures and third-party audits, signaling a more politically viable approach toward formalizing Bitcoin as a long-term U.S. strategic reserve asset.link

Institution | Asset manager Strive acquired an additional 1,109 BTC, raising its total Bitcoin holdings to more than 16,500 coins as corporate treasury accumulation strategies continue expanding. The latest purchase further reinforces the growing trend of firms using Bitcoin as a long-term reserve asset amid increasing institutional participation in digital assets.link

Regulation | Hong Kong regulators advanced plans to introduce licensing rules for virtual asset advisory and management firms, with legislation targeted for 2026 under the city’s anti-money laundering framework. The proposal would require crypto advisers and portfolio managers to obtain licenses and comply with capital, compliance and investor protection standards similar to those applied in traditional finance, further expanding Hong Kong’s regulated digital asset framework beyond trading platforms and stablecoins.link

Regulation | The U.S. SEC delayed plans to introduce a broad “innovation exemption” for tokenized stock trading after pushback from stock exchanges and market participants over concerns including liquidity fragmentation, shareholder rights and third-party synthetic tokens. The proposal would have allowed crypto platforms to offer blockchain-based versions of publicly traded equities, highlighting growing regulatory tension as tokenized real-world assets continue expanding into traditional financial markets.link

Tokenization | Investment bank Jefferies said the ongoing wave of crypto IPOs and tokenization could eventually create a $1 trillion public market opportunity as blockchain-based financial infrastructure expands deeper into traditional finance. The firm pointed to growing adoption of stablecoins, tokenized assets and crypto-native financial services, arguing that companies operating at the intersection of blockchain and capital markets could become major beneficiaries of the next phase of financial digitization.link

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