This week in crypto, Ethereum emerged as the clear standout amid a wave of institutional activity and strong on-chain performance. Despite the current pullback across the broader market, which is driving short-term volatility, longer-term indicators continue to show increased interest in Ethereum and broader altcoin infrastructure. From record staking levels to ETF inflows, the past week brought a series of developments that could influence future market dynamics once sentiment stabilises. Meanwhile, stablecoin frameworks advanced and AI-driven Web3 initiatives continued to evolve, pointing to a more integrated and maturing digital asset landscape. 

Ethereum took centre stage as a host of indicators aligned to suggest growing institutional conviction. More than 32 million ETH is now staked on the network, the highest on record and representing over one quarter of all circulating ETH. This has effectively tightened supply and helped reinforce medium-term confidence in the asset. Asset manager BlackRock significantly increased its ETH holdings, reflecting a broader shift in perception that Ethereum is evolving into a core infrastructure layer for digital finance. Supporting this trend, Ether-focused funds recorded their strongest inflows since the 2024 Trump election, while spot Ether ETFs continued a multi-day run of net inflows. Open interest in Ether futures also hit a new all-time high, signalling growing engagement from sophisticated investors despite near-term market uncertainty. 

Ethereum’s renewed strength has reignited discussion around a potential altcoin cycle. While Bitcoin dominance remains historically high, analysts are beginning to ask whether ETH’s momentum could eventually lead to broader market rotation. The US Securities and Exchange Commission is expected to decide on a suite of bundled crypto ETFs by early July, and Bloomberg analysts are placing high odds on approval. Solana is already benefiting from this speculation, with futures open interest reaching its highest level in two years. An ETF for Solana could further institutionalise the asset. Even memecoins are entering the conversation, with some analysts forecasting the emergence of the first active memecoin-focused ETFs as early as 2026. While these would still cater largely to retail demand, they reflect the expanding scope of investor interest within the crypto market. 

Stablecoins also made notable progress this week in terms of adoption and policy support. USDC officially launched on the XRP Ledger, a move that enhances its utility across different blockchain networks and brings added functionality to Ripple’s ecosystem. In the United States, the GENIUS stablecoin bill passed a key Senate vote, taking one step closer to becoming law. If finalised, the bill could establish a clearer regulatory framework for fiat-pegged digital currencies, which are increasingly being integrated into mainstream financial systems. These developments may help lay the foundation for wider adoption and institutional acceptance. 

The Web3 sector continued its evolution as Nasdaq-listed Interactive Strength announced the creation of a treasury initiative focused on Fetch.ai. The company is planning to allocate up to 500 million US dollars to AI tokens, aiming to build what it calls the largest corporate AI and crypto treasury in the world. This bold move highlights the growing intersection between artificial intelligence and blockchain technology and suggests that forward-thinking companies see value in combining these two emerging sectors. As more public firms begin incorporating decentralised infrastructure into their operations, this could become a defining trend in the next phase of digital innovation. 

Ethereum’s recent rise in institutional focus reflects more than just short-term market enthusiasm. With long-term inflows growing, staking at record levels, and derivative markets maturing, Ethereum is drawing renewed attention as a cornerstone of the crypto ecosystem. Still, current market conditions remain volatile, and price performance may not immediately reflect these structural trends. As regulatory clarity improves and innovation in Web3 and AI accelerates, the crypto industry appears to be laying the groundwork for its next growth phase — though the journey may continue to be marked by short-term turbulence. 

More news stories circulating the block: 

• Chainlink, JPMorgan and Ondo complete first crosschain treasury transfer 

• Trident Digital plans $500M XRP treasury reserve

• Stripe acquires Privy to bolster crypto wallet capabilities 

• Thiel-backed Bullish files for US stock market listing

• Australian police bust $190M crypto laundering ring in Queensland 

• Disney and Universal sue Midjourney over AI-generated content 

• Strategy boosts Bitcoin stack to 582,000 with new purchase 

• GameStop stock sinks after revealing major debt raise plan

• Tencent eyes Nexon deal to grow gaming footprint