Sideways grind much? Welcome to your weekly crypto recap! 🙌

Retail investors' take on the world is divergent from institutions. Institutions avoided both the Altcoin and memecon frenzy so are feeling much better about life. It could explain the lack of robust action in the market.

Another week, another raft of US announcements. The Crypto Tzar announced they were looking into stuff, the SEC has launched its crypto task force, more US states are proposing Bitcoin as a reserve asset and someone is saying the tariff wars won’t stop the bull.🤞

Satoshi may have been KYC’d, Van Eck put out a 2025 SOL price target, ETF flows were positive and there is record short position on $ETH at the minute. $ETH is back to being inflationary and the Czech republic scrapped capital gains on $BTC held longer than 3 years. Pojďme! 🇨🇿

Onto the deets:👉

Bitwise are saying that while retail investors are cold on crypto, institutional investors are incredibly bullish. The blame is being placed on the pasting Alt and memecoin have had. People aren’t feeling rich.

Unsurprisingly, the memecoin market has gotten darker, the odds are definitely with the issuers not the punters according to some.

Someone is digging into Satoshi’s wallets and found that Kraken bought a $BTC exchange that he once used. This opens the possibility that ‘they’ can be identified.

David Sacks, the newly anointed US “Crypto Tzar”, spoke. A lot. It was a bit of a talk fest but the directionality looks good.

The SEC has launched its crypto task force to provide regulatory clarity. Commissioner Hester Peirce wrote a blog on it, “it took us a long time to get into this mess, and it is going to take us some time to get out of it.”

16 US states have now put forward legislation to make $BTC a reserve asset.

Van Eck price target for Solana this run is $520. -> 160%.

There is a massive short position being established on $ETH right now. Milk Road thinks it's a short squeeze to enable institutions to get $ETH on the cheap.

This week in ETF news. BlackRock is launching a $BTC Exchange Traded Product (ETP) into Europe. Trump Media has registered trademarks for some ETFs and the SOL ETF application has a timeline for approval for Q4 this year.

$ETH supply has returned to pre merge levels as the impact of the Layer 2 and blobs has meant the Layer 1 is now inflationary. Feels like a bit of an own goal to this reader.

Other Crypto news:
Crossmint has released (AI) Agent wallets which will allow them to interact onchain compliantly…and autonomously.

The Czech republic scrapped capital gains tax on $BTC holdings over 3 years old.

The NZ Minister of Commerce, Andrew Bayly, has come out strongly in favour of crypto, saying New Zealand should take a commercial approach and embrace it.

A computer engineer who lost £620m worth of Bitcoin wants to buy the tip where he believes it was buried.

Finally, in big news, MicroStrategy is now called… Strategy 😒. BlackRock now owns 5% of Strategy.

Til next week✌️