During a busy week of congressional action dubbed “Crypto Week,” the U.S. House passed three landmark crypto bills. The GENIUS Act, aimed at regulating stablecoins with reserve and transparency mandates under a dual federal-state framework, cleared the House 308–122 and is now headed to President Trump’s desk for signature. Meanwhile, the CLARITY Act advanced through a procedural vote, potentially resolving years of ambiguity around whether crypto assets fall under the SEC or CFTC. In parallel, the Anti‑CBDC Surveillance State Act passed narrowly, blocking any Federal Reserve digital currency initiative and signaling lawmakers’ concern for privacy. Although procedural delays and internal GOP divisions held the process up midweek, the eventual passage is being hailed as a major step toward firm regulatory footing in Washington.

Bitcoin Topples $123,000 as Regulatory Certainty and ETF Inflows Align

Cryptocurrency markets responded strongly to congressional action and ETF dynamics. Bitcoin surged past $123,000, its highest value ever - driven by optimism around the GENIUS and CLARITY Acts and record ETF inflows. Analysts say reduced short-seller activity and regulatory certainty have strengthened institutional sentiment. Institutional interest remains consistent but is gaining traction, with major corporations like MicroStrategy adding to demand . Meanwhile, Ethereum also rallied as stablecoin frameworks and on-chain use cases added fuel to the wider market rally .

Bitcoin ETF Flows: A choppy week ends with strong momentum

Bitcoin ETF flows began the week uenevenly as mixed sentiment around congressional debates briefly weighed on investor appetite. On July 14, spot Bitcoin ETFs pulled in just $297.4 million in net flows, with ARK logging a substantial $99.6 million in outflows and Fidelity trailing at negative $26.1 million. The trend improved slightly on July 15, with net inflows climbing to $403.1 million, although Grayscale’s GBTC saw a $41.2 million outflow. The real momentum returned midweek, with July 16 marking a breakout day as BlackRock alone attracted $763.9 million, contributing to a total daily net inflow of $799.4 million. By July 17, the market continued upward, bringing in $522.6 million across issuers. While early outflows reflected caution during regulatory uncertainty, institutional conviction bounced back sharply as the GENIUS and CLARITY Acts passed through Congress, pushing cumulative flows above $2 billion for the week.

ETF Flows: BlackRock Surge Powers Record-Breaking Week

Ethereum ETFs experienced a major upswing in inflows throughout the week, culminating in one of the strongest stretches since launch. Starting with $259 million on July 14 and dipping slightly to $192.3 million on July 15, the market gained renewed traction midweek. July 16 saw a dramatic surge, with BlackRock leading the charge at $499.2 million and total net inflows hitting $726.6 million across products. The rally continued into July 17 with an additional $602 million, driven again by BlackRock’s ETHA product and supported by healthy participation from Fidelity, Bitwise, and Grayscale. With over $1.5 billion in net flows in just two days, Ethereum’s ETF narrative is gaining legitimacy, signaling growing demand for institutional-grade ETH exposure amid broader optimism surrounding stablecoin legislation and on-chain finance narratives.

Top Gainers on Metal Pay - Coins in Focus: LOAN & XPR Take the Spotlight

LOAN Protocol led weekly gains with an impressive +47.7% surge, driven by heightened governance participation on Metal X and momentum from Crypto Week’s policy wins. XPR Network followed closely, up 44.4%, bolstered by increased attention, activity and fresh decentralized finance integrations. Other notable movers include Hedera (+29.8%), Ripple (+23.6%), and Dogecoin (+21.9%) as traders rotated capital into altcoins with strong narrative momentum and network effects. These tokens all feature on Metal Pay, reinforcing Metal’s role in facilitating access to high-velocity assets.

LOAN Protocol rewards for XRP and LTC Holders are LIVE!

Rewards are now live for XRP and LTC lending and borrowing markets on the Metal X App, following a successful community governance proposal to expand incentives. Users can now earn $LOAN tokens by participating in these newly boosted markets, adding yield opportunities for holders of two of the most popular digital assets. To view the current APY and start earning, visit lending.metalx.com/markets and supply or borrow XRP or LTC through the app. This update reflects continued momentum for the LOAN Protocol and reinforces Metal X as a growing hub for multi-chain DeFi.