Crypto ETFs keep drawing capital as U.S. custody and tax rules tighten

Moki

2 min read·2026/08/27

Moki

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Crypto markets are consolidating after a sharp Bitcoin and Ether rally, but institutional flows remain positive. The larger story is a regulatory handoff: U.S. custody and stablecoin rules are moving through agencies, Europe is testing euro stablecoin rails, and tax authorities are confronting a large on-chain reporting gap.

Image / FinanceFeeds

ETF inflows keep the rally supported, but momentum is cooling

U.S.-listed crypto ETFs recorded another strong session on August 25, with about $550.2 million flowing into major Bitcoin, Ether, Solana and XRP products. Spot Bitcoin ETFs drew $314.3 million for a seventh consecutive positive day, while Ether ETFs added $179.8 million; BlackRock's IBIT and ETHA accounted for most of the demand. The inflows followed Bitcoin's move back toward $80,000, but price feeds around August 26 showed BTC near $78,400 and ETH near $2,470, suggesting consolidation rather than a one-way breakout.

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Image / Cointelegraph

SEC custody overhaul moves to White House review

The SEC sent proposed amendments to its custody rules to the White House Office of Information and Regulatory Affairs on August 25. The rulemaking would modernize how investment advisers and investment companies hold client and fund assets, explicitly including crypto assets. This matters because institutional adoption depends not only on ETF inflows, but also on custody, auditability and qualified holding arrangements; the proposal still must clear review, return to the SEC and be released for public comment.

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Image / Decrypt

Stablecoin rules and Revolut's EURR show regulated rails taking shape

Stablecoins are moving from market plumbing into regulated payment infrastructure. Treasury's GENIUS Act proposal defines when payment stablecoins may be issued, offered or sold in the United States and asks for comments by October 19, while Revolut has begun rolling out EURR, a euro-pegged stablecoin, to selected customers in Denmark, Poland and Portugal. EURR is issued by Bridge Building S.A., a Stripe-owned Luxembourg entity, with Revolut distributing it through its app; the product gives European users a euro-denominated alternative as USDT faces regional distribution pressure.

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Image / Chainalysis

Chainalysis flags a $457 billion on-chain tax blind spot

Chainalysis estimated that potentially taxable on-chain crypto activity reached more than $457 billion globally in 2025, with the United States accounting for about $112.6 billion. Its report argues that the OECD's Crypto-Asset Reporting Framework and similar reforms are meaningful but incomplete: only about 14% of the identified on-chain taxable activity falls inside CARF's practical scope, while DEX activity, peer-to-peer transfers, on-chain income streams and payments often remain outside traditional reporting. The finding points to heavier tax-data scrutiny as crypto activity moves beyond centralized exchanges.

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Image / Cointelegraph

Asia's ETF channel broadens as Thailand consults on Bitcoin and Ether funds

Thailand's SEC moved its crypto ETF framework from principles to draft rules, opening consultation on locally listed spot Bitcoin and Ether ETFs and standards for foreign digital-asset custodians. The initial products would be passive, single-asset funds trading on the Stock Exchange of Thailand, with at least 80% average net exposure to BTC or ETH. The consultation runs until September 20 and shows that regulated crypto exposure is spreading beyond U.S. products into regional capital markets.

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