Today in crypto: Crypto executives urged the SEC to shift its thinking on privacy tools, crypto ETFs had three straight weeks of inflows and JPMorgan launched its first money market fund.
Crypto urges SEC to see good in privacy tools
Crypto industry executives urged the Securities and Exchange Commission to shift its thinking on blockchain privacy tools at its sixth crypto-focused roundtable on Monday, saying there are legitimate applications for them outside of criminal use.
StarkWare general counsel Katherine Kirkpatrick Bos participated in a panel discussion and told Cointelegraph that a major takeaway was that there shouldn’t be an assumption that those using and creating privacy tools are “overwhelmed by wrongdoers.”
“Why is the assumption that an individual needs to affirmatively prove that they are compliant or they’re using the tool for good, as opposed to it being the other way around?” she said.
In his opening remarks, SEC chair Paul Atkins said that if “pushed in the wrong direction, crypto could become the most powerful financial surveillance architecture ever invented,” with the government transforming it “into a financial panopticon.”
He added his agency must strike a balance and “make certain that Americans can use these [privacy] tools without immediately falling under suspicion.”
Digital asset ETPs post third straight week of net inflows, led by US demand
Crypto exchange-traded products (ETPs) recorded about $864 million in inflows last week, according to a report on Monday by European digital asset manager CoinShares.
The United States led regional inflows with about $796 million, followed by Germany with roughly $68.6 million and Canada with about $26.8 million. Together, the three countries account for approximately 98.6% of year-to-date (YTD) inflows into digital asset investment products.
Switzerland-listed crypto ETPs recorded about $41.4 million in weekly outflows, while YTD net flows were about $622.4 million, according to the data.
Bitcoin (BTC) investment products recorded about $522 million in weekly inflows, while short-Bitcoin products posted roughly $1.8 million in net outflows, “signalling a recovery in sentiment,” according to the report.
Ether (ETH) saw approximately $338 million in inflows during the week, lifting YTD to about $13.3 billion, up 148% from 2024.
Beyond Bitcoin and Ether, Solana (SOL) investment products recorded about $65 million in weekly inflows, bringing YTD inflows to roughly $3.46 billion, a tenfold increase from last year.
XRP (XRP) products also attracted fresh capital, with approximately $46.9 million added during the week and about $3.18 billion in inflows accumulated YTD, according to the data.
Smaller-cap products saw more mixed results, with Aave (AAVE)-linked products recording about $5.9 million in weekly inflows and Chainlink (LINK) adding roughly $4.1 million. Hyperliquid (HYPE) products posted net outflows of around $14.1 million during the period.
This is the third consecutive week of inflows for crypto ETPs, following about $716 million in inflows last week and roughly $1 billion the week before.
Bitcoin has attracted around $27.7 billion YTD, still below the $41 billion it recorded in 2024.
JPMorgan launches its first tokenized money market fund on Ethereum
JPMorgan, one of the world’s biggest banks, is advancing its presence in tokenized finance by launching its first money market fund through its $4 trillion asset management arm.
The fund, My OnChain Net Yield Fund, will trade under the ticker MONY and is available on the public Ethereum blockchain, JPMorgan said in an announcement shared with Cointelegraph on Monday.
Launched via Kinexys Digital Assets, JPMorgan’s proprietary tokenization platform, MONY is a 506(c) private placement fund providing qualified investors the opportunity to earn US dollar yields by subscribing through its institutional trading platform, Morgan Money.
“With Morgan Money, tokenization can fundamentally change the speed and efficiency of transactions, adding new capabilities to traditional products,” said John Donohue, head of global liquidity at J.P. Morgan Asset Management.
By launching MONY, JPMorgan has become the largest global systemically important bank to introduce a tokenized money market fund (MMF) on a public blockchain, the bank said in the announcement.
The fund’s tokenization provides increased transparency, peer-to-peer transferability and the potential for broader collateral usage within the blockchain ecosystem, it said.
“This marks a significant step forward in how assets will be traded in the future,” Donohue said, highlighting the role of Morgan Money, where qualified investors can access the fund and receive tokens at their blockchain addresses.