Ethena + Avalanche: Coming for Your Bank Account

Chart of the Day — Big inflows for the Bitcoin ETFs
Trade of the Day — Is MSFT Double Topping?
Alpha Leaks — New highs for Robinhood Chain and Pons
News Roundup — Ethena banking, SEC positive on crypto, TradFi stablecoin plans

BTC ETFs Major Inflows

Since they first launched back in January 2024, the spot Bitcoin ETFs have provided another useful indicator showing the state of market sentiment towards BTC.

And right now–as shown in this chart from Glassnode–the funds are providing a signal that the market structure is becoming constructive again, with net inflows across all ETFs hitting around $3.5 billion in August.

This is the highest monthly inflow since July 2025, when BTC was in a bull market and trading above $100K, and adds to the sense that bitcoin may have moved past the deepest cycle lows.

Double Top on MSFT - Sponsored by Kalshi

This trade is brought to you with the support of Kalshi Perpetuals, where users–including those in the US–can trade crypto perps with leverage up to 6.1x. PLUS: Use our sign-up link, and you’ll receive a $25 bonus after you trade your first $50 on Kalshi.

Is MSFT marking out a double top on the chart? You can see how that’s exactly what it did last year, and it appears to be repeating the pattern, although across a narrower time span. The double top last year preceded prolonged bearish price action, and there’s a strong possibility that we get similar follow through now.

Go Premium for all the details on this trade, including recommended entries, price targets, and stop loss positions. Inner Circle members are profiting from our set ups in all market conditions, so go Premium today to catch our signals.

Stop Missing the Trades That Change Lives

SPECIAL OFFER: Bitunix is now offering an $80 a month rebate for all Inner Circle members. PLUS, a dedicated $5,000 weekly giveaway only for Inner Circle members.

Never been a better time to sign up and know the Big Trades Before They Hit!

While most people are drowning in noise, a quiet group of investors already knows what's coming. They've got the research, the setups, and the edge.

This is the Inner Circle. We cut through the chaos and help deliver real signal.

Start your 7-day free trial right now — and discover what you've been missing.

Ethena Launches Avalanche-Based Neobank

Ethena has launched the beta version of Ethena Pay, a financial platform that operates as a neobank and is built on Avalanche.

Users can hold balances in Ethena’s USDe synthetic dollar, earn yield, and spend funds through a linked card. It is currently available in 49 countries, with access available at first only to a small group of users. Access is to be gradually expanded from here, with launch in America and the EU currently detailed as coming soon.

Avalanche serves as the settlement layer, and the launch represents a major step for Ethena as it expands into consumer-facing banking services.

Also, this rollout comes soon after Ethena announced a major overhaul of its tokenomics, along with an expansion of its basis trade strategy, so that it covers equities perps as well as crypto.

SEC Pushes Crypto Framework as CLARITY Vote Approaches

SEC Chair Paul Atkins has laid out how the agency’s own proposed crypto rulebook–called Regulation Crypto Assets–lines up with the CLARITY Act, explaining that the proposal is aimed at turning the US into a leading global hub for crypto assets.

In a Fox Business interview, Atkins stressed that the SEC framework is designed to bring crypto innovators and capital back onshore, and the rules include fundraising exemptions enabling teams to raise money and launch products without leaving the US.

The Senate is scheduled to vote on the CLARITY Act this month, and although Atkins acknowledges the long-term importance of having a constructive crypto statute in place, he also explained that even if the legislation is held up, the SEC still has the authority to push forward with its own crypto proposals.

Global Banks Team Up for New Stablecoins Venture

21 global banks and financial institutions have joined forces to launch their own stablecoin venture.

The group–including giants such as Bank of America, Citi, Goldman Sachs, UBS, Deutsche Bank, and Santander–will set up a new company this year. From there, the plan is to develop a USD-backed stablecoin first, with euro and other G7 currencies as a longer-term strategy.

The project is focused on compliance, aiming to be fully aligned with the GENIUS Act and Europe’s MiCA rules, and is targeting utility across wholesale, institutional, and retail adoption.

This many established institutions making a collective move towards onchain transactions indicates again that crypto infrastructure is becoming a core part of global finance.

Want to reach 100k+ crypto investors?