Weekly Update: 23rd of January
What happened between the 16th and the 23rd of January?
- Macro uncertainty around Trump, Greenland and potential EU tariffs increased volatility and triggered heavy ETF outflows, again showing crypto’s sensitivity to risk-off liquidity shocks. Read more
- NYSE is developing tokenized securities with 24/7 trading and faster settlement, an institutional step pushing tokenization toward the core infrastructure of equity markets. Read more
- The US CLARITY bill was delayed after criticism from Brian Armstrong, but is expected within weeks; clearer rules could accelerate adoption by creating a safer playing field. Read more
- Strategy bought roughly $2.1 billion in Bitcoin, its largest purchase since 2024, taking advantage of the market’s pullback. Read more
Macro turbulence weighs on sentiment and ETF flows
Crypto markets experienced elevated volatility this week due to macroeconomic tensions. Uncertainty around President Donald Trump weighed on sentiment, with threats related to Greenland and potential import tariffs on Europe triggering a risk-off response. In that environment, outflows from spot crypto ETFs accelerated, increasing downward pressure on Bitcoin and Ethereum.
Toward the end of the week, markets stabilised somewhat after Trump announced he would refrain from imposing the import tariffs.
NYSE targets 24/7 trading in stocks through tokenization
The New York Stock Exchange is stepping up its push toward tokenizing traditional securities. ICE, its parent company, is working on a tokenized securities platform designed to enable 24/7 trading in US equities and ETFs, featuring faster settlement and fractional shares.
The promise is that blockchain rails can speed up settlement, reduce operational friction and expand access beyond regular market hours. For institutions, continuous liquidity and faster settlement are particularly attractive.
US CLARITY bill delayed, still expected within weeks
The US CLARITY market-structure bill has been delayed, but is still expected within the coming weeks after several revisions. The timeline slipped after Coinbase CEO Brian Armstrong publicly criticised parts of the proposal, temporarily shifting political support. Substantively, the bill remains highly important: clearer definitions for digital assets, a better division of responsibilities between regulators and explicit rules for platforms should make the sector more predictable, safer and more accessible. Markets often react nervously to delays, but the broader direction remains constructive.
Strategy buys $2.1 billion in Bitcoin
Strategy purchased roughly $2.1 billion worth of Bitcoin this week, its largest buy since 2024. The company is clearly taking advantage of the recent market correction, and it also signals that financing appetite remains strong, as the purchase was largely funded through equity issuance.
In other digital assets news
- Belgian bank KBC will offer retail Bitcoin and Ethereum trading via its Bolero platform, with a planned start in the week of 16 February 2026 under MiCAR rules.
- Ethereum posted new transaction records, but several analyses suggest part of the spike may be linked to potential spam activity rather than purely organic growth.
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