SEC Approves First Multi-Asset Crypto ETF as Fed Rate Cut Fuels Volatility

I. Crypto Market Overview

Key Takeaways

Macro Environment

The Federal Reserve's 25bps rate cut to 4.00–4.25% has boosted crypto liquidity but increased volatility risks. The SEC's approval of the first multi-asset crypto ETF signals growing regulatory clarity and institutional confidence. China's deepening deflation and yuan weakness may drive Asian capital flows into Bitcoin and stablecoins.

Crypto Market

The crypto market saw mixed performance over the past 12 hours. Bitcoin fell 1.12% to $116,297 and Ethereum dropped 1.70% to $4,533.9, pressured by ETF outflows and macro volatility. Immutable (IMX) surged 12.38% on gaming partnerships, NEAR rose 6.43% on cross-chain/AI news, while Dogecoin dropped 3.56%. Altcoins showed sector rotation, with gaming and AI tokens outperforming.

Today's Outlook

The US Federal Reserve holds a key monetary policy meeting today, with market participants watching for further signals on rate trajectory and liquidity. OpenLedger will release its 2025 price prediction, and token unlocks for FastToken (FTN) may impact market flows and volatility.

Fear and Greed Index

92.00% Annual Percentile

51 Neutral

Total Crypto Market Cap

$4.06T

0.96%

Total Market Trading Volume

$145.69B

31.93%

Altcoin Season Index

83.33%

Quarterly Percentile

74 / 100

Total Futures Market Open Interest

3.88B

1.81%

Futures

897.77B

5.56%

Perpetuals

II. Industry Updates

Macro-economic Policies

The Federal Reserve cut its benchmark rate by 25bps to 4.00–4.25%, triggering $748M inflows into Bitcoin products and boosting crypto market liquidity, but also raising volatility risks for BTC and DeFi assets.

The Bank of England maintained its policy rate at 4% after UK CPI held at 3.8% YoY, supporting GBP stability and limiting immediate impact on crypto-USD pairs and cross-border DeFi flows.

The Bank of Japan kept its rate at 0.5% as August CPI slowed to 2.7%, strengthening the yen and increasing FX volatility, which may affect BTC/JPY trading and Asian crypto market sentiment.

China's August CPI fell to -0.4%, deepening deflation concerns and weakening the yuan, which could drive capital flows into Bitcoin and stablecoins as alternative stores of value in Asia.

The S&P 500 hit a record high after the Fed rate cut and a major tech investment, improving risk appetite and supporting bullish sentiment for crypto assets correlated with US equities.

Cryptocurrency Regulatory Trends

The SEC has approved the first multi-asset crypto ETF, including Bitcoin, Ethereum, XRP, Solana, and Cardano, signaling increased regulatory clarity and likely boosting institutional investor confidence.

Hong Kong has showcased its new Stablecoin Ordinance, establishing a licensing regime for stablecoin issuers to enhance oversight and support financial innovation in the digital asset sector.

The Bank of Canada has urged for a unified federal regulatory framework for stablecoins, warning that Canada risks lagging behind the US and UK in payment modernization and cross-border crypto adoption.

The European Union will impose new restrictive measures on cryptocurrency platforms as part of its 19th round of sanctions against Russia, increasing compliance pressure on digital asset service providers.

The UK Financial Conduct Authority has launched a consultation on new crypto rules, seeking industry feedback on complaint handling and operational standards, aiming to balance innovation with consumer protection.

Immutable (IMX): IMX surged 12% in 24h with trading volume up 139% to $315M, driven by new gaming partnerships, token rewards, and regulatory tailwinds.

NEAR Protocol (NEAR): NEAR rose 6% in 24h with $824M volume, outperforming peers as market activity spiked; recent cross-chain and AI integrations boost sentiment.

Asterion (ASTER): ASTER gained 0.4% in 24h, supported by its real-world asset tokenization model and recent expansion of business-backed asset reserves.

Smart Money Movements

Fidelity's spot Ethereum ETF purchased 34,740 ETH worth $159.4 million, highlighting strong institutional demand for Ethereum exposure.

Whale 0x89Da opened a $99.5 million leveraged long position on Ethereum, acquiring 21,966 ETH with 25x leverage, signaling aggressive bullish sentiment.

Grayscale staked over 40,000 ETH, becoming the first U.S. Ethereum ETF issuer to stake its holdings, reflecting a strategic move amid regulatory shifts.

Two new wallets withdrew 851 BTC, valued at $99 million, from exchanges, indicating significant accumulation by large investors.

Mega Matrix acquired $6 million in ENA tokens, including a recent $3 million purchase, to strengthen its stablecoin governance and digital asset reserves.

Events to Watch

Sep 19 (Fri)

The US Federal Reserve holds a monetary policy meeting; OpenLedger releases its 2025 price prediction, highlighting token unlocks and Trust Wallet integration.

Sep 20 (Sat)

LayerZero will unlock 25.71 million ZRO tokens, potentially impacting market dynamics.

Sep 21 (Sun)

Optimism (OP) will unlock 6.89% of its tokens, allowing holders to access newly released assets.

Sep 22 (Mon)

China's central bank announces its interest rate decision; Canada releases August producer prices; Eurozone publishes preliminary consumer confidence for September.

Sep 23 (Tue)

US releases S&P preliminary manufacturing PMI; Eurozone and France publish preliminary PMI data; US initial jobless claims for the week ending Sep 20.

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