June 2025 Recap of Digital Assets Industry
June was a low volatility month for crypto. Most tokens drifted lower amid the declining volatility and looming tariff uncertainties. However, Bitcoin (BTC) rose +3% for the month and saw $4.5B in ETF inflows.
Since January 2024, only 36% of the top 300 tokens are up. Just 12% are up YTD, underscoring the increasingly skewed nature of the crypto market. Bitcoin volatility decreased to 33%, the lowest since summer 2024. This reflects structural demand via ETFs and from crypto treasury companies.
Anticipation is high as Solana (SOL) and Ethereum (ETH) both have staking ETFs launching soon. It is expected that staking rewards will be paid out as dividends.
Robinhood (HOOD) launched tokenized stocks this month. Investors can now get exposure to US stocks and ETFs via blockchain 24 hours a day, 5 days a week. Currently, this is only available for Europeans.
In June, stablecoins experienced a breakout moment following stablecoin-issuer Circle’s IPO and the GENIUS Act’s advancement towards the House.
On June 17, the U.S. Senate passed the GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins Act) in a 68-30 vote, establishing a federal regulatory framework for stablecoins. The Act aims to formalize the issuance and usage of stablecoins, requiring issuers to back each stablecoin with safe assets at a 1 ratio, such as U.S. dollars or short-term government bonds, and mandates monthly reserve disclosures and compliance with anti-money laundering rules. The bill is expected to move to the House of Representatives for a vote and, if passed, will be sent to President Donald Trump for signature, likely by August 2025.
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