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New US Crypto PAC With $100 Million Fund: Three Essential Priorities Outlined

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A new pro-crypto political action committee (PAC) has been established in the United States amid increased favorable legislation surrounding digital assets in the country under President Donald Trump’s second term in the White House. 

$100 Million To Boost Pro-Crypto Candidates

The Fellowship PAC, unveiled through a press release on Monday, has pledged over $100 million to support candidates who advocate for innovation and the cryptocurrency sector, aiming to maintain America’s status as a global leader in digital assets. 

What sets the Fellowship PAC apart from previous political efforts, according to their statement, is its commitment to transparency and trust. The organization emphasizes that its mission is to foster a political environment that supports the broader crypto ecosystem rather than serving narrow interests.

The new political action committee aims to build on the crypto regulatory framework being established under the Trump administration, which is viewed as a pathway for the US to become the world’s digital asset capital.

Progress has already been made in the form of the passage of the GENIUS Act for dollar-pegged cryptocurrencies, also known as stablecoins, being one of the most notorious successes for the cryptocurrency industry this year. 

Super PACs Gear Up For 2026 Midterms

The Fellowship PAC’s objectives are clear: it seeks to support candidates dedicated to creating transparent and predictable regulations for digital assets. Additionally, the PAC aims to protect America’s edge in technology and entrepreneurship, ensuring that the innovation economy reflects American values of openness and fairness. 

A crucial focus will also be on preventing the migration of talent and entrepreneurs overseas by maintaining the US as the premier destination for innovation, supported by clear regulatory guidelines. The PAC’s press release also noted:

Our differentiator is transparency and trust. This initiative is designed to align the interests of crypto entrepreneurs, policymakers, and the public, fostering accountability as we work to advance the ecosystem. This is just the beginning; we have more initiatives planned.

The launch of the Fellowship PAC follows a year of notable activity among crypto-focused political action committees, which are gearing up to increase their influence in upcoming special elections across the country. 

As previously reported by Bitcoinist, super PACs like Fairshake, along with its affiliates Defend American Jobs and Protect Progress, have already invested approximately $136 million in supporting over 58 pro-crypto candidates during the 2024 election cycle. 

With over $100 million in resources ready for the 2026 midterms, Fairshake is positioned to make a significant impact, bolstered by contributions from major players in the digital asset space, including Coinbase, Andreessen Horowitz, and Ripple.

The daily chart shows the market’s total capitalization at $3.9 trillion. Source: TOTAL on TradingView.com

Featured image from DALL-E, chart from TradingView.com 

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Crypto Trends

Robinhood Builds on Private Equity Token Push With New Venture Capital Fund

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Robinhood (HOOD) is moving deeper into private markets with a new venture capital fund designed to give everyday investors access to companies before they go public.

The company has filed with the Securities and Exchange Commission (SEC) an initial registration statement to launch Robinhood Ventures Fund I (RVI), a closed-end investment vehicle that aims to buy stakes in private companies that are leaders in their industries.

The fund, managed by a newly formed subsidiary called Robinhood Ventures, would be traded on the New York Stock Exchange, pending regulatory approval.

Robinhood faced criticism earlier this year after it announced that it was offering users in the European Union access to private equity tokens.

The company opened access to these tokens through tokenized shares in OpenAI and SpaceX, while also launching its own layer-2 blockchain network for users in the European Union to have access to tokenized publicly traded U.S. stocks.

At the time, the company was forced to explain that its private equity tokens were held by a special purpose vehicle, after OpenAI warned that the tokens did not represent equity in the firm. Still, the company is pushing forward with offering private equity access to retail investors.

“For decades, wealthy people and institutions have invested in private companies while retail investors have been unfairly locked out,” Robinhood Chairman and CEO Vlad Tenev said.

Robinhood pointed out that the number of public companies in the U.S. has dropped by nearly half since 2000, while the private market has ballooned to over $10 trillion in estimated value, according to Federal Reserve data.

If approved, Robinhood Ventures Fund I would invest in a small basket of private companies across various industries and hold them through IPO and beyond. Shares would be available to buy and sell through traditional brokerages.

Robinhood shares are down 1.4% in today’s trading session to $113.39.



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XRP Witnesses Explosive 221% Surge in Fund Inflows Ahead of October XRP ETF Verdict
NFT Gaming

XRP Witnesses Explosive 221% Surge in Fund Inflows Ahead of October XRP ETF Verdict

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XRP investment products pulled in $32.5 million last week, more than double the $14.7 million recorded a week earlier, according to CoinShares. That 221% rise makes it one of the standout performers among digital assets, especially as fund inflows across the market picked up again after a quiet start to the month.

Bitcoin products continue to be the most popular crypto-tied investment opportunity, with $2.4 billion in new money, and Ethereum managed to stop losing funds by adding $645 million. Solana also made $198 million. 

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In the cut, XRP’s rise looks smaller in dollar terms, but it has a higher growth rate than other currencies.

Source: CoinShares

In September alone, XRP products attracted almost $48 million, taking the total for the year to date to $1.45 billion. The total value of assets under management that are linked to XRP is now $2.94 billion. 

When XRP ETF?

The background is important. The SEC is expected to make a decision about several XRP ETF applications at the end of October. These include applications from Grayscale, 21Shares, Bitwise, CoinShares, Canary Capital and WisdomTree. 

Traders are already expecting at least one approval, which could lead to much larger amounts of money being invested. 

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Nate Geraci, president of the ETF Store, said that spot XRP ETFs could attract as much as $5 billion in their first month of trading. He added that most people have not realized how big that number could be. 

With those decisions only weeks away, the latest inflows into XRP funds may be a sign that institutional buyers are preparing early.



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Crypto Exchange OKX Moves Into Australia’s Self-Managed Super Fund Sector

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OKX is making a push into Australia’s retirement market, despite crypto still being a notably small component.

On Sunday, the exchange announced the launch of a platform for self-managed superannuation funds, or SMSFs.

These private retirement vehicles allow individuals and small groups to manage their own savings directly, offering an alternative to the industry and retail funds that still dominate Australia’s pension system.



“Adoption is already far higher than many realise: SMSF crypto holdings have grown seven times since 2021, with $1.7 billion (US$1.1 billion) to $1.8 billion (US$1.2 billion) now invested,” Kate Cooper, CEO of OKX Australia, told Decrypt.

Cooper said OKX developed the platform in consultation with trustees and industry professionals, with features such as custody, multi-signature security, and proof-of-reserves reporting across 22 tokens.

“This isn’t about chasing a trend; it’s about providing serious infrastructure for SMSF trustees choosing to include digital assets in their portfolios. Australian SMSF trustees manage more money than most sovereign wealth funds. They deserve enterprise-level solutions,” she added.

OKX claims the new expansion is designed to give both individual and corporate trustees a straightforward path to adding crypto to retirement portfolios.

It adds infrastructure that specifically addresses SMSF requirements, including end-of-year reporting for audits, compliance checks, and AUSTRAC-registered exchange services.

Digital assets have become the fastest-growing slice of superannuation, with SMSF crypto allocations up 746% between March 2020 and March 2025, according to data from OKX’s statement. Overall, SMSFs manage nearly a third of Australia’s $4 trillion retirement pool.

Fresh data from the Australian Prudential Regulation Authority shows total SMSF assets grew only 5.5% in the year to June 2025, suggesting that while digital asset allocations within those funds have surged from a low base five years ago, the broader pool of SMSF savings is expanding at a much slower pace.

Earlier this month, an Australian Tax Office report showed self-managed super funds held about A$3 billion (US$1.9 billion) in crypto at midyear, which is less than 0.3% of their assets and an even smaller share of the country’s A$4.3 trillion pension system.

SMSFs remained heavily weighted toward shares, cash, and property, with crypto allocations steady after a brief spike in early 2024, per the report.

At the time, observers noted that investors “missed the rally” by stepping back after that peak, aligning with how SMSFs remain a cautious investment product even as Asia-Pacific crypto volumes surged roughly 69% over the same period.

Still, Cooper said OKX expects to see “thousands of SMSFs onboard in the next 12 to 24 months,” with many of them switching from other exchanges.

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Crypto Games Keep Shutting Down. This $500K Fund Aims to Help Players Recover

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In brief

  • The Crypto Gaming Recovery Fund has been set up to offer players of shuttered crypto games assets for Splinterlands.
  • A total of $500,000 worth of tokens and in-game assets are available, spread out over seven years.
  • The Splinterlands team hopes to welcome additional contributors to offer up game assets to affected players.

Blockchain games are shutting down in droves so far this year, as hype and funding fade and crypto investors turn their attention elsewhere. But one long-running crypto game hopes to draw some of those players affected by shutdowns by offering free NFT assets for affected users.

Crypto trading card game Splinterlands is inviting the players of failed blockchain games to apply to its newly formed recovery fund, in which $500,000 worth of crypto tokens and in-game assets can be unlocked over the next seven years.

The project told Decrypt that it is currently in talks with other projects based on the Hive blockchain to allocate assets to the fund—and invites the broader industry to join in to save crypto gaming by giving burned users a bridge to new games.

The Crypto Gaming Recovery Fund is already expanding. If you were impacted by one of these games and want to start a path to recovery in Splinterlands, submit a claim and we’d love to welcome you to the family! Link below: pic.twitter.com/jvAnq4JdoT

— SPSDAO (@TheSPSDAO) August 27, 2025

Currently, only the players of the defunct crypto titles Pirate Nation, Tokyo Beast, and Walking Dead: Empires can access the Crypto Gaming Recovery Fund. Affected players must create a Splinterlands account, purchase a $10 item (which provides in-game credits of the same value), and submit their wallet address containing items from eligible games—which they get to keep.

Then they can start gradually unlocking assets over the next seven years from the $500,000 fund. The assets are released as long as the player remains active on Splinterlands, which is measured by a series of monthly challenges—such as playing five battles.

“I welcome any of our competitors who would want to be a part of this to come and join. Why would they want to? Because they want to see the space grow,” Dave McCoy, Chief Operating Officer at Splinterlands, told Decrypt. “We are just the first, but hopefully we have many other people join us.”

An epidemic of crypto games shutting down has struck the industry this year, with countless notable projects closing shop. That includes Deadrop, Ember Sword, Nyan Heroes, Realms of Alurya, Symbiogenesis, Raini: The Lords of Light, and MetalCore—just to name a few. 

While all of these games have cited slightly different reasons behind their crashouts, one thing they all have in common is that they leave behind a player base with no game to play. And many of those players sunk cash into supporting the project, and are left with tokenized assets that no longer have utility.

“I’ve been in hundreds of communities over the years. […] When a project gets rugged, it’s a horrible feeling. Especially when you have high hopes for it,” Blaze, Splinterlands’ pseudonymous sales and marketing lead, told Decrypt. “We just put our foot down and said: Hey, enough is enough. Somebody has got to step up here and help these people who are getting crippled.”

The Crypto Gaming Recovery Fund is governed by a decentralized autonomous organization, or DAO, that votes on which games will be eligible for the fund. Each supported game has a specific portion of the fund that is allocated to it, although Splinterlands did not confirm the exact division per game.



In the first year, 2 million SPS tokens worth over $16,000—plus 5,000 Rebellion packs—are allocated to the fund. This scales up to 10 million SPS (currently about $82,000) and 25,000 packs by the seventh year. Rewards are then divided among the number of players that were active, meaning if only one person is active within a specific pot, then they will get everything, McCoy said.

“The design is for seven years, because we’ve been around for seven years,” McCoy explained. “So the point we’re trying to make is we’re going to be around seven more years, as well.”

Splinterlands is a strategic trading card game with NFT cards minted and tradeable on the Hive blockchain. It originally launched in 2018 as Steem Monsters—based on the Steem crypto social network—but was rebranded to Splinterlands in 2019 and has been steadily building ever since.

The game’s SPS governance token first debuted in July 2021 and quickly reached its peak of $1.07, according to CoinGecko. The token is now down 99%, however, valued at $0.008. 

McCoy told Decrypt through the game’s lifespan, it has battled its way through “everything” that a crypto game can face. He explained that “it’s not easy to manage,” and suggested that other games haven’t survived so long because of unsustainable game models—with Blaze pointing to Pirate Nation’s $150,000 per month expenses. 

Unfortunately, to McCoy, the wave of crypto game shutdowns is a necessary purge of the industry. But he hopes that the Crypto Gaming Recovery Fund is the first step to building the industry back up, potentially with more contributors alongside.

“Again, this isn’t about Splinterlands. This is about the whole industry,” McCoy told Decrypt. “If [any game] wants to be part of it, if they want to contribute, we would love to have them.”

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Crypto Trends

WisdomTree Launches Tokenized Private Credit Fund

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WisdomTree has launched a new tokenized fund focusing on private credit.

The new fund, called the WisdomTree Private Credit and Alternative Income Digital Fund (CRDT), tracks a basket of 35 publicly traded closed-end funds, business development companies, and real estate investment trusts, Bloomberg reports.

It’s available with a minimum investment of just $25 and offers two-day redemption. WisdomTree, it’s worth adding, launched an ETF tracking the same benchmark in 2021, the WisdomTree Private Credit and Alternative Income Fund.

Private credit, lending done outside traditional banks, has ballooned in recent years as investors chase yield-focused investment options.

“It’s really just about bringing the asset class to a whole universe of different investors,” said Will Peck, head of digital assets at WisdomTree.

The firm has launched a number of tokenized investment vehicles so far, including ones offering exposure to money market funds, fixed income securities, and equities.

The new fund joins a growing trend among Wall Street’s largest asset managers. BlackRock, for example, manages a $2 billion money market fund, while Fidelity’s tokenized money market fund recently rolled out on Ethereum.

WisdomTree joins a broader trend. BlackRock’s tokenized $2 billion money market fund and experiments from Fidelity and VanEck suggest traditional finance is taking real-world asset tokenization seriously, even if it’s still small compared to the trillions in ETFs and mutual funds.



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Crypto Trends

BlackRock Weighs Tokenized ETFs Following Bitcoin Fund Surge

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BlackRock is moving deeper into tokenized funds, and the moves are starting to look like a bid to bring traditional ETFs onto blockchains.

Reports have disclosed that the firm’s tokenized money market product, known as the BlackRock USD Institutional Digital Liquidity Fund or BUIDL, is already live on the Ethereum network and works with firms such as Securitize and BNY Mellon for transfer agent and custody roles.

BlackRock Tokenized Fund Partners And Setup

According to filings and industry reports, the BUIDL fund is backed by cash, US Treasury bills, and repurchase agreements.

Transfer agent duties are being handled by Securitize while custody services are provided by BNY Mellon. Other infrastructure providers named in reports include Fireblocks, BitGo, Coinbase and Anchorage Digital.

The fund pays yields to token holders on a daily basis using blockchain rails, and it is being positioned as a bridge between classic cash-like instruments and programmable token holdings.

JUST IN: BlackRock plans to tokenize ETFs following success with $BTC fund. pic.twitter.com/yQD0E4VjpX

— Whale Insider (@WhaleInsider) September 11, 2025

The Push Toward Tokenized ETFs

Executives have been quoted as saying tokenization could scale far beyond a single fund. Reports have put a potential addressable market figure as high as $10 trillion if a broad array of assets and ETFs are moved on-chain over time.

Industry trackers also show that the total value locked in tokenized real-world assets passed $10 billion in recent months, a sign that the market is no longer purely experimental.

BlackRock’s activity has prompted comparisons with other large asset managers, such as Franklin Templeton, which have also launched tokenized offerings.

Market Benefits And Practical Limits

Proponents say tokenized ETFs could allow fractional ownership and round-the-clock transferability, and they could speed settlement in some cases.

Reports say tokenization may also boost transparency since ownership records can be viewed directly on the chain.

Bitcoin is now trading at $114,991. Chart: TradingView

At the same time, uncertainty remains over how tokenized ETF shares will interact with existing market structures such as APs and market makers, and whether on-chain trading will be treated the same as exchange trading under US securities rules.

Regulatory And Custody Questions Remain

Regulators, custodians and auditors face hard choices about legal rights, disclosure and investor protections for tokenized securities.

On the basis of sector coverage, firms continue to sort out custody architectures and legal wrappers that provide enforceable claims on the underlying assets to token holders.

Various jurisdictions might draw different conclusions, which would impede cross-border adoption or confine rollouts to individual markets.

Bitcoin Fund Success Spurs Speculation Over Tokenized ETFs

BlackRock’s investigation into tokenized ETFs is a follow-up on the success of its Bitcoin fund, already attracting robust inflows and market interest.

The firm’s success in that department is now generating speculation that its next move will be to take pieces of its multi-trillion-dollar ETF business on-chain.

Should the transition occur, it would represent one of the biggest steps so far by a global asset manager towards investment products based on blockchain.

Featured image from Leonardo Munoz / VIEWpress, chart from TradingView

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Blackrock Eyes Tokenized Etfs After Bitcoin Fund Success
Crypto Trends

BlackRock eyes tokenized ETFs after Bitcoin fund success

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BlackRock is preparing to bring its multi-trillion-dollar exchanged funds empire on-chain, exploring plans to tokenize exchange-traded funds following the breakout success of its spot Bitcoin ETFs.

Sources close to the matter say the asset management giant is actively working on blockchain-based versions of the funds linked to real-world assets (RWAs), such as equities and bonds. The move opens the door to 24/7 ETF trading, obliterating the limitations of weekday-only Wall Street hours.

Tokenization turns real-world assets into blockchain-based tokens, enabling fractional ownership, instant settlement, and global access. While BlackRock hasn’t named which funds will be tokenized first, the shift builds on its success with IBIT and BUIDL, two of TradFi’s most aggressive blockchain bets to date.

Treasury fund. Both products have become top performers among traditional finance (TradFi) players entering the crypto space.

Wall Street’s blockchain experiment accelerates

CEO Larry Fink has previously said that “every financial asset will be tokenized”, and BlackRock’s new investment assets initiative could be a major catalyst toward that vision. If executed, the tokenized ETFs could offer TradFi-grade exposure to global retail and institutional investors alike, without the friction of outdated settlement systems.

The move comes as Nasdaq itself pushes to modernize its infrastructure. The exchange has filed a proposal with the U.S. Securities and Exchange Commission (SEC) to permit the trading of tokenized equities and ETPs directly on its main board.

Kraken and Robinhood may have tokenized stocks, but BlackRock brings institutional firepower and could force the industry to follow.

This isn’t a pilot. BlackRock’s tokenized funds push rewires the core of asset management, scrapping legacy rails, flattening borders, and gutting settlement delays. If it lands, the rest of Wall Street won’t have a choice.

Also read: Méliuz taps bitcoin options to generate yield and grow reserves



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GameFi Guides

SEC Punts on BlackRock Ethereum ETF Staking, Franklin XRP and Solana Fund Decisions

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In brief

  • The SEC pushed back its deadline on staking in the BlackRock iShares Ethereum Trust to October 30, a 45-day delay.
  • The regulator also delayed its decision on Franklin Templeton XRP and Solana funds by 60 days to November 14.
  • In recent weeks, the agency has postponed decisions on rule change requests that would permit the listing of various spot altcoin funds and the addition of staking to current Ethereum ETFs.

The U.S. Security and Exchange Commission has delayed its decisions on the addition of staking to BlackRock’s iShares spot Ethereum exchange-traded fund, and on Franklin Templeton proposals for separate funds tracking the performance of Solana and XRP, according to filings the agency submitted Wednesday.

The SEC extended its deadline for addressing a rule change request by the Nasdaq exchange for staking in the iShares Ethereum Trust (ETHA) to October 30, a 45-day postponement from its original schedule.

It also pushed back its decision on 19b-4 rule change filings by Cboe that would allow the listing of the Franklin Templeton Solana ETF and Franklin Templeton XRP ETF to November 14, a 60-day deferral.



The latest filings follow a slew of SEC delays in recent weeks on proposals for altcoin funds. On Tuesday, the regulator put off ruling on Nasdaq’s bid to list the Grayscale Hedera Trust to November 12, also 60 days.

Last month, the SEC also held up resolving a request to add staking to the the 21Shares Core Ethereum ETF, which tracks the price of the second-largest cryptocurrency by market value.

At that time, it also moved back its decision on an application by Donald Trump’s media and technology company by 45 days to Oct. 8 for a Truth Social Bitcoin and Ethereum ETF that would track the two largest cryptocurrencies by market value.

And it announced identical delays for applications filed for spot XRP funds by Grayscale, CoinShares, Canary Capital, Bitwise, and 21Shares, a spot Dogecoin ETF from Grayscale, and a spot Litecoin product from CoinShares. The dates for potential approvals of those funds vary.

Those announcements followed delayed decisions on Solana ETFs from Bitwise, 21Shares, and VanEck, and a Dogecoin fund from 21Shares. Before August ended, the SEC was weighing 90 crypto ETF applications, which spanned a range of assets.

Bloomberg Senior ETF Analyst Eric Balchunas told Decrypt that the latest delays were consistent with the regulator’s recent approach, likely timing approvals of proposed altcoin ETFs and Ethereum staking after likely green-lighting proposals filed in July by Cboe and NYSE.

Those exchanges asked the SEC to approve amendments that could significantly shorten the approval process for future crypto exchange-traded funds, automatically listing certain products without requiring case-by-case filings.

In separate filings, the exchanges requested changes to their listing standards that would allow certain crypto ETFs to be listed without enduring the SEC’s rigorous evaluation, a process that requires exchanges to submit proposed rule changes. Under current guidelines, reviews of proposed changes to funds could take 240 days.

“They’ve been punting and punting […] and we expect them to keep putting everything off until the generic listing standards are done,” Balchunas said. “That is what we think will happen, probably in early October. After that, we expect a flood of ETFs probably in a couple months.”

He added: “We expect ETH staking to be part of it. This SEC showed every sign of being interested in working with the issuers and solving problems.”

Bloomberg analysts have predicted a more than 95% probability of Solana and XRP ETFs receiving approval this year. Balchunas described the odds on staking as “pretty high,” as well.

“We think they’ll allow that, too,” he said.

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DOGE ETF To Launch as First US Fund to Hold Asset With ‘No Utility’

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In brief

  • Bloomberg analyst Eric Balchunas calls Rex-Osprey DOJE the first US ETF to hold an asset with “no utility on purpose.”
  • ETF filed under the Investment Company Act of 1940 instead of the Securities Act of 193, like other crypto ETF filings.
  • Initial institutional adoption is initially, but market cap growth could attract attention, Decrypt was told.

A first-of-its-kind Dogecoin exchange-traded fund is set to hit U.S. markets on Thursday, with Bloomberg’s Eric Balchunas flagging the Rex-Osprey Doge ETF (ticker: DOJE) as the launch vehicle.

“Pretty sure this is first-ever U.S. ETF to hold something that has no utility on purpose,” Balchunas tweeted Tuesday, announcing the fund’s debut. 

The fund is expected to list using the Investment Company Act of 1940 framework that REX-Osprey previously used for its SOL + Staking ETF (SSK), rather than the Securities Act of 1933 path used by commodity-style grantor trusts.



Ganesh Mahidhar, investment professional at Further Ventures, told Decrypt that “ETFs under the Investment Company Act of 1940 have mandates around diversification and more governance requirements broadly, as compared to those launched under the 1933 securities act.” 

“In a way, regulating it under the 1940 act provides more investor protection and imposes a registered investment structure on the SPV offering it,” he added. 

He explained this framework “demarcates the ETF as being more similar to stock and bond ETFs as compared to the BTC ETF, which resembles a commodity ETF.”

However, the meme coin classification raises questions about whether similar approvals await other similar cryptos. 

Dogecoin “follows the proof of work consensus, same as BTC,” and “has a floor in terms of the power being consumed to produce it,” Mahidhar noted.

“This separates Dogecoin from Shiba Inu and Pepe, which run on proof of stake and ‘don’t have the same baseline,’ making them more vulnerable due to ‘lack of utility,’ though Mahidhar noted app-chain and layer-2 projects could still push gaming or gambling use cases.”

Institutional portfolios are “unlikely to touch the ETFs at this stage,” but if their market cap becomes significant, “there is a possibility that some attention goes to them,” he said.

“What matters more is their price action and volatility in this case, and an eventual utility if such does happen,” the investment professional added.

The listing comes as over 90 crypto ETF proposals await SEC decisions, including pending applications for Solana and XRP funds with deadlines extending into October. 

REX Shares has also filed for multiple crypto ETFs in January, including Trump, BONK, and additional Dogecoin products, just days after Gary Gensler departed from the SEC.

On the crowded SEC docket, Mahidhar added he’s a “firm believer” that ETFs are the universal wrapper and sees no reason “any such ETF should not be accepted” as markets migrate from cash-flow to liquidity-based value concepts.

DOGE is changing hands for around $0.24, up 1.4% on the day and 11.7% on the week, according to CoinGecko.

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