NYSE said it is developing an on-chain platform to trade and settle tokenized U.S. equities and ETFs, and will seek regulatory approvals for a proposed venue built on that infrastructure. According to ICE, the system targets 24/7 operations, instant settlement, dollar-sized orders, and stablecoin-based funding, with post-trade systems capable of supporting multiple chains for settlement and custody.

Bitcoin is trading close to $96,000 while sizable US spot ETF inflows and options dealers’ long gamma positioning are pulling price in opposite directions. Recent flows of roughly $1.06 billion into spot Bitcoin ETFs since Jan. 8 and compressed volatility near 32% realized and 33% implied have kept price confined around the $90,000–$94,000 band, with key levels now highlighted near $91,500 on the downside and just under $97,800 on the upside.

As U.S. lawmakers advance the CLARITY Act, a policy battle is intensifying over whether stablecoin rewards should be treated as illegal interest and how that definition impacts banks and crypto platforms. FDIC data from Dec. 15, 2025 shows national savings and checking rates far below a 3.89% Treasury reference yield, while programs such as Coinbase's 3.50% USDC rewards and Binance's Simple Earn promotions highlight competing cash-like returns. The drafting dispute is now focused on drawing a line between "hold-to-earn" yield and activity-based loyalty incentives, with banks warning that stablecoin rewards threaten both their deposits and customer relationships.

On January 5, 2026, Bank of America's Merrill, Private Bank, and Merrill Edge platforms will begin allowing advisers to recommend Bitcoin-focused exchange-traded products with an internally framed "modest" 1%–4% allocation for suitable clients. The move channels part of the bank's roughly $4.6 trillion in managed wealth into regulated crypto access, potentially directing billions into Bitcoin over time while explicitly acknowledging the asset's volatility and macro sensitivity.

When oil futures opened on Monday after the U.S. captured Venezuelan president Nicolás Maduro over the weekend, crude prices unexpectedly slipped while Bitcoin traded in the low $90,000s and moved higher. Markets are treating the event as a long-term supply story that could ease inflation and rate pressures, which may give Bitcoin more room as a high-beta macro asset, provided weaker oil reflects future supply rather than collapsing demand.

Bitcoin traded in the $80,000s on Dec. 31 while markets priced Federal Reserve cuts. November CPI printed 2.7% YoY and core 2.6% YoY, but quality caveats limited repricing, according to Reuters. High 10-year TIPS real yields near 1.90%, record $74.6 billion SRF usage, and roughly $3.4 billion spot ETF outflows have kept price confined around $81,000–$93,000.

In Q4 2025, Tether acquired 8,888 Bitcoin, pushing its BTC reserves to more than 96,000 BTC under a policy that allocates 15% of quarterly profits into Bitcoin. Earlier, a Sept. 30, 2025 assurance reported $181.223 billion in reserves, $174.445 billion in liabilities, and $6.778 billion in excess reserves, with Bitcoin valued at $9.856 billion. This structure channels yield from U.S. Treasuries and other reserve assets into recurring BTC purchases while increasing mark-to-market volatility and drawing ratings and regulatory scrutiny.

From Dec. 15 to Dec. 31, U.S. spot Bitcoin ETFs recorded roughly $1.29 billion in net outflows, translating to about 14,500 BTC in selling pressure at a Bitcoin price near $89,000. Flows data show heavy redemptions spread across the complex, with IBIT making up nearly half of the net outflow, while just two sessions of strong inflows failed to offset several sharp withdrawal days amid thin year-end liquidity and macro uncertainty. The pattern has fueled debate over whether these ETFs function as long-term allocation vehicles or short-term trading tools as markets move into early 2026.

In late November, Coinbase’s large internal wallet migration distorted Bitcoin long-term holder metrics, making routine fund shuffling appear like renewed selling pressure. After adjusting for this effect, on-chain data suggests long-term holders are only modestly reducing sales, while ETFs and recent U.S. Federal Reserve moves continue to shape short-term market direction. Analysts outline multiple scenarios from stabilization to renewed distribution, emphasizing that any shift back to steady accumulation would likely take time to confirm.