Regulatory agenda to set the US into crypto hyperspace?

Notice that in early 2025, positive developments have stemmed from crypto, while short-term headwinds have affected the broader risk asset market.

Market Highlights

Regulatory movement towards staking

NYSE filling to allow staking for Grayscale’s ETH ETFs and the SEC crypto task force having a meeting to discuss staking with Jito and Multicoin are both events related to the improvements regarding staking regulation.

This highlights the start of a journey in the US regulatory landscape, and underscores the importance of staking for US regulated products, as ETH ETFs are witnessing a surge in institutional adoption.

Trump nominates Brian Quintenz for CFTC

Brian Quintenz, currently the global head of policy at a16z, is nominated to head up the CFTC.

This could bring yet another pro-crypto actor into the US political landscape. Quintenz even said that “the agency is also well poised to ensure the USA leads the world in blockchain technology and innovation”.

State Street on digital assets custody

The Wall Street giant, which already displays a history as a transfer agent for crypto exchange-traded fund, plans to launch a digital asset custody business.

This serves as an example of how the regulatory shift in the US has the potential to merge blockchain with the traditional finance world.

Market Metrics

This week, the NCITM saw a modest gain of 1.4%, offering a glimpse of optimism despite the ongoing impact of Trump’s tariffs. This increase may be driven by growing interest among US states in holding BTC reserves, along with the appointment of Brian Quintenz—a pro-crypto advocate—as the new head of the CFTC.