Digital asset investment products have experienced a significant surge, with inflows totaling $2 billion over the past five weeks, reaching a remarkable $4.3 billion. This increase is accompanied by a 55% jump in trading volumes for ETPs, hitting $12.8 billion. The market’s positive momentum is largely attributed to anticipated U.S. monetary policy adjustments following weaker macroeconomic data.

In a striking regional trend, the U.S. dominated last week’s inflows, adding $1.98 billion, marking one of the largest single-day inflows ever recorded. The iShares Bitcoin ETF has notably eclipsed the Grayscale, with assets under management now standing at $21 billion. Bitcoin remains the primary benefactor, with significant inflows of $1.97 billion.

Altcoins also showed promising movements, with Ethereum and smaller cryptocurrencies like Fantom and XRP recording notable inflows. Ethereum’s inflows reached $69 million, their highest since March, possibly fueled by regulatory developments favoring spot-based ETFs.

Data

$1M – $10M MarketCap:

1. Evadore (EVA): 171%
2. PunkAI (PUNKAI): 69%
3. Salad (SALD): 51%
4. OrangeDX (O4DX): 48%
5. BoringDAO (BORING): 27%

$10M – $100M MarketCap:

1. Normie (NORMIE): 60%
2. catwifhat ($CWIF): 33%
3. Ben the Dog (BENDOG): 27%
4. Super Trump (STRUMP): 22%
5. TrustSwap (SWAP): 21%

$100M – $1B MarketCap:

1. Turbo (TURBO): 21%
2. Audius (AUDIO): 19%
3. Non-Playable Coin (NPC): 18%
4. PONKE (PONKE): 17%
5. Toshi (TOSHI): 13%

Disclaimer: Market capitalizations can vary in real-time. The information provided here is intended purely for educational purposes and should not, under any circumstances, be construed as financial advice.

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South Korea Classifies Select NFTs as Regular Cryptocurrencies, Reports Say

South Korea’s Financial Services Commission (FSC) has unveiled new guidelines to clarify the regulatory landscape for non-fungible tokens (NFTs). According to the guidelines, certain NFTs that exhibit properties similar to cryptocurrencies—such as mass production, exchangeability, or use in payments—will now be regulated as cryptocurrencies. This move is part of South Korea’s efforts to provide clarity and reduce ambiguity in the digital asset space.

Not all digital tokens will fall under this strict regulation; NFTs that are non-transferable and hold minimal economic value will be regarded as regular NFTs. For example, NFTs used as proof of transaction or concert tickets remain classified under the traditional NFT category. This distinction ensures that only NFTs functioning like financial instruments or currencies face stringent oversight.

These changes precede the enforcement of South Korea’s first crypto-focused law, the Virtual Asset User Protection Act, set to take effect on July 19. This law aims to protect users by mandating crypto service providers to secure funds and prevent market abuses, marking a significant step in South Korea’s comprehensive approach to standardizing and securing the crypto landscape.

Report