This Week in Crypto: Record Highs and Rising Institutional Demand

This week was a milestone for the crypto market, with Bitcoin hitting a new all-time high and Ethereum setting a fresh record in Australian dollars. At these levels, confidence across the industry is running high. The rally has been fuelled by strong institutional inflows, record ETF performance, and growing belief in blockchain’s role within the global financial system. Many see this as a sign that Bitcoin and Ethereum are entering a new growth phase, supported by broader market participation and stronger infrastructure than in past cycles.

Ethereum was one of the week’s standout performers, climbing to its highest-ever price for Australian investors. While ETH came within a few percentage points of its all-time high in US dollars, it fell just short before the market sold off. Even so, record inflows into Ether ETFs and high levels of staked ETH are tightening supply and adding upward price pressure. Institutional conviction in Ethereum’s role as the backbone of decentralised finance and Web3 innovation remains strong, with on-chain activity continuing to grow.

Bitcoin also gained momentum, driven by long-term holders continuing to accumulate. Strategy marked the fifth anniversary of its Bitcoin adoption by purchasing an additional 155 BTC worth about US$18 million, reinforcing its view of BTC as a core strategic reserve asset. More companies are following this path, adopting Bitcoin as a hedge against economic uncertainty, inflation risk, and currency debasement.

Beyond Bitcoin and Ethereum, interest in the broader crypto market is surging. Google searches for “altcoins” hit their highest level since 2021, fuelled by speculation around ETF launches, corporate treasury allocations, and the potential for renewed retail participation. Historically, strong performance from BTC and ETH often precedes a rotation of capital into mid- and small-cap assets. While each cycle is unique, many traders are asking whether 2025 could see a new altcoin season, bringing both high opportunity and higher volatility.

Institutional product development also continued to expand, with Grayscale launching two new single-asset trusts linked to the Sui ecosystem. These products give accredited investors targeted exposure to emerging blockchain protocols without the need for direct token custody or on-chain interaction. As asset managers move into more specialised sectors such as layer-1 ecosystems and decentralised application platforms, the growing range of regulated products is helping bridge the gap between traditional markets and blockchain-native opportunities.

Regulatory headlines were dominated by Terraform Labs founder Do Kwon pleading guilty to two charges tied to the collapse of the Terra ecosystem. Once one of the most ambitious projects in decentralised finance, Terra’s failure wiped out tens of billions in market value and sparked legal disputes worldwide. Kwon’s plea marks a significant step in one of crypto’s highest-profile cases and could set important precedents for prosecuting misconduct in blockchain projects.

In the Web3 and application space, Google Play announced updated policies requiring crypto wallet apps to meet specific licensing requirements in certain jurisdictions from 29 October. This highlights the role of app marketplaces in enforcing compliance with financial regulations. Developers targeting global audiences will now need to adapt to varying licensing frameworks when designing and distributing their products. Some see this as a challenge, while others view it as a sign that crypto applications are moving into a more mature, regulated phase where user protection and legal certainty support adoption.

The all time this week serve as a reminder of crypto’s resilience and its ability to evolve through market cycles. With institutional capital continuing to flow, ETF adoption expanding, and mainstream platforms strengthening compliance measures, the industry is better positioned than ever to integrate with the global economy. However, volatility, regulatory shifts, and rapid technological change remain constants, ensuring that the path ahead will be dynamic and rewarding for those prepared to navigate it.

More news stories circulating the block: 

• Bitcoin’s market value briefly surpasses Google’s

• Ether ETFs have their second-largest single-day of inflows

• Canary Capital files to launch a Trump Coin ETF in Delaware

• Metaplanet’s stock outpaces Japan’s Topix Core 30 index

• NFT market cap climbs to $9.3B, boosted by Ethereum’s rally

• Coinbase finalises acquisition of crypto derivatives exchange Deribit