This Week in Crypto – Ethereum ETFs Process Inflows Worth $13.6B as Institutional Demand Rises

Missed the top crypto stories in the past week? Don’t worry! This article highlights some of the biggest news that have caught investors’ attention in the last seven days.

Investors Pour $13.6 Billion in Ethereum ETFs

Since their launch in July 2024, Ethereum spot ETFs (exchange-traded funds) have witnessed significant growth, thanks to rising institutional demand. According to data from SoSoValue, a popular crypto research platform, these ETFs processed net inflows of $4.1 billion in August, pushing cumulative inflows to $13.6 billion.

Increased interest in Ethereum ETFs last month helped Ether rally 81%, defying the recent trend, in which August has been a bearish month for the asset over the past three years.

Crypto Projects to Unlock Tokens Worth $4.3B in September

According to Tokenomist’s data, tokens worth $1.17 billion and $3.36 billion will be added to circulation through cliff and linear unlocks, respectively, in September. For beginners, cliff unlocks are events where large amounts of tokens are released at once when a particular lockup period ends. Linear unlocks, on the other hand, release tokens over time to minimize the impact on the prices of the circulating supply.

Elon Musk’s Attorney to Head a $200 Million Dogecoin Treasury

On Thursday, media outlet Fortune reported that Alex Spiro, the lawyer for billionaire Elon Musk, will head a public entity that plans to raise at least $200 million to buy Dogecoin. The undisclosed company seeks to give its shareholders exposure to the meme coin without holding it directly. However, as of September 1st, it remains clear when Spiro’s entity will begin to add DOGE to its balance sheet.

Bitcoin Lawsuit Against Strategy Dismissed

A court filing has revealed that two plaintiffs, Mehmet Unlusoy and Michelle Clarity, who filed a lawsuit opposing Strategy’s Bitcoin treasury a few months ago, dismissed the suit on Friday. Earlier this year, the two accused Strategy of misleading investors about the risks posed by Bitcoin. They also claimed that the firm had lied about the profits realized from its Bitcoin investment.

Meet the Three Crypto-Friendly Candidates for the Fed Chair Position

According to Fox News, US President Donald Trump is considering eleven candidates as a replacement for Fed Chair Jerome Powell when he retires in May 2026. Of the figure, only three are crypto-friendly. They include BlockRock’s Chief Investment Officer Rick Rieder, former US government economic adviser March Sumerlin, and Jefferies’ Chief Market Strategist David Zervos.

US Treasury Secretary Scott Bessent said last Wednesday that the Trump administration will start to vet the candidates this month.

Analyst Predicts XRP Rally to $20 This Bull Run

After peaking at $3.67 on July 18th, XRP has seen increased profit booking, fueling a drop to $2.83 as of this writing. Despite the downtrend, pseudonymous crypto analyst XForceGlobal insists that the coin remains bullish in the long term, predicting a move to $20 before the end of the current cycle.

They argue that XRP will begin to attract institutional investors in the coming months following the dismissal of the four-year lawsuit involving its issuer, Ripple, and the US Securities and Exchange Commission (SEC).

Report: American Bank Helped Launder $312 Billion but Critics Continue to Blame Crypto

A new report by the US Financial Crimes Enforcement Network (FinCEN) indicates that US banks have facilitated illegal money transfers worth $312 billion since 2020. The funds are said to come from Chinese money launderers who work with Mexican drug cartels.

Kanye West’s Token Causes a $74 Million Loss

On Wednesday, onchain data platform Bubblemaps reported on X that at least 52,000 meme coin traders suffered a collective loss of $74 million after buying Kanye West’s YZY token, launched on August 21st. The loss came when the coin plummeted by over 85% a few hours into its launch.

Of the 52,000 traders, three lost $1 million each. Meanwhile, eleven traders, believed to have inside knowledge, collectively pocketed at least $12 million.