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Bitcoin ETFs attracted $244.42 million in net inflows, led by BlackRock’s IBIT with $196.83 million.
Russia introduced a comprehensive crypto framework covering exchanges, custody, mining, issuance, and retail investment limits.
Pi Network gained more than 10% as trading volume jumped 75%, supported by the Protocol 26 upgrade and RoboPay integration.
The crypto market saw major developments as spot Bitcoin ETFs recorded $244 million in net inflows, while Russia passed a new full-fledged crypto law. Additionally, Bhutan appointed 3iQ to oversee its Bitcoin Treasury, and Pi Network climbed 10% with increased volume.
According to SoSoValue, the Bitcoin spot ETF saw a total net inflow of $244.42 million yesterday. The Bitcoin Spot ETF with the highest net inflow yesterday was BlackRock's ETF IBIT, with a daily net inflow of $196.83 million.
The second-highest was Ark Invest and 21Shares’ ETF ARKB, with a daily net inflow of $37.63 million, and the total historical net inflow of ARKB currently stands at $1.35 billion.
The Bitcoin Spot ETF with the highest net outflow yesterday was VanEck's ETF HODL, with a daily net outflow of $14.67 million, and the total historical net inflow of HODL currently stands at $1.14 billion.
The total net asset value of Bitcoin Spot ETFs is $79.21 billion, with an ETF net asset ratio of 6.09%. The historical cumulative net inflow has reached $51.95 billion.
Russian President Vladimir Putin signed the country's first full crypto law on Tuesday, turning a bill that cleared both houses of parliament last month into the legal framework that will govern crypto exchanges, custodians, mining, and digital asset issuance in Russia starting September 1.
The nearly 300-page Law on Digital Currencies and Digital Rights sets out licensing rules for crypto exchange operators, which must register with a self-regulatory organization and hold minimum capital of 15 million rubles, roughly $187,000.
It creates a category of ‘non-qualified’ retail investors who can buy up to 300,000 rubles ($3,800) of approved cryptocurrency per year through a single licensed intermediary, and send up to 100,000 rubles abroad.
New digital depositories, supervised by the Central Bank, will record who owns what, mirroring how Russia already tracks ownership of traditional securities.
Also Read: BlackRock’s Rare ETHA Reverse Split Makes Trading Ethereum 70x Cheaper: Here’s How
Bhutan has taken another step toward integrating Bitcoin into sovereign financial management by appointing Canadian digital asset manager 3iQ Corp. to oversee a dedicated portion of the Bitcoin treasury allocated to Gelephu Mindfulness City (GMC).
The appointment marks one of the first publicly disclosed institutional asset management mandates tied to a sovereign-linked Bitcoin reserve, signaling a shift from government-led accumulation toward professionally managed digital asset portfolios.
While neither party disclosed the size of the Bitcoin allocation, the mandate gives Toronto-based 3iQ discretionary authority to manage part of GMC’s reserve under a long-term investment strategy.
The agreement also extends beyond asset management, with 3iQ committing to establish a permanent presence in Bhutan and support local digital asset expertise.
Developers Shawn Xie, Zhiyuan Wang, Chenna Keshava B S, and Mayukha Vadari introduced the On-Chain Cosigner proposal in the XRP Ledger standards repository.
With this initiative, they aim to modernize multi-signature transaction coordination directly within the network, eliminating reliance on external communication channels and centralized servers.
Currently, although XRPL supports multi-signature transactions, it requires collecting approvals off-chain through manual processes.
With On-Chain Cosigner, the request is stored directly as a native TransactionProposal object on the blockchain, validating each signature in real time and ensuring a highly secure environment for asset custody in financial institutions.
Pi Network price gained more than 10% this week as rising volume, the Protocol 26 upgrade, and a new RoboPay integration improved short-term demand.
Pi Network price traded near $0.0872 after gaining more than 10% over the past week. The token rose as high as $0.0902 during the latest daily session before giving back part of the move.
PI’s 24-hour volume rose 75% to approximately $11.5 million, showing that the recovery attracted more market participation than earlier low-volume moves.
The 4-hour chart shows PI pressing against the upper Bollinger Band at $0.08824. That level overlaps with the $0.088-$0.090 resistance zone that has limited several recovery attempts since late July.
Also Read: Coldcard Hack Raises Security Concerns: What it Means for Hardware Wallet Users
1. Why did Bitcoin ETFs record strong inflows?
According to SoSoValue, spot Bitcoin ETFs attracted $244.42 million in net inflows, reflecting continued institutional interest. BlackRock's IBIT accounted for the largest share of the day's investments.
2. What does Russia's new crypto law change?
The law establishes a legal framework for crypto exchanges, custodians, mining companies, and digital asset issuance. It also introduces licensing requirements and investment limits for retail investors.
3. Why is Bhutan partnering with 3iQ?
Bhutan appointed Canadian asset manager 3iQ to oversee part of its Bitcoin treasury linked to Gelephu Mindfulness City, marking one of the first sovereign-backed institutional Bitcoin management mandates.
4. What is the XRP Ledger's On-Chain Cosigner proposal?
The proposal aims to bring multi-signature coordination directly onto the XRP Ledger. It would allow transaction approvals to be stored and verified on-chain, reducing reliance on external communication systems.
5. Why did Pi Network's price increase this week?
Pi Network gained over 10% as trading volume jumped 75%, supported by the Protocol 26 upgrade, RoboPay integration, and increased buying interest near key technical resistance levels.
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