This week’s crypto roundup highlights major developments shaping institutional adoption, market activity, and regulatory clarity.
Animoca Brands secured a Virtual Asset Service Provider license in Dubai, paving the way for expanded Middle East operations. American Bitcoin Corp. raised its corporate Bitcoin holdings above 6,000 BTC, joining the ranks of the world’s largest public treasuries. Coinbase executives defended their dominance in Bitcoin ETF custody and addressed questions on asset security amid growing market scrutiny. Meanwhile, BlackRock advanced plans to launch a yield-generating Ethereum ETF in the U.S., signaling continued innovation in crypto investment products.
Together, these stories reflect the evolving landscape of digital assets, blending growth, governance, and strategic positioning for institutional investors. Let's look at this week's top gainers and losers based on CoinMarketCap data before getting into this week's main topics.
Top gainers and losers
- Morpho (MORPHO) saw a remarkable 33.25% increase this week, reaching $1.54.
- Kite's (KITE) price increased by 25.19% to $0.2789 at the end of the week.
- River (RIVER) is up 16.66% this week at $0.175.
- Humanity Protocol (H) saw a 22.26% decline this week, trading at $0.165.
- Pippin (PIPPIN) declined by 18.41% to $0.4986 for the week.
- LayerZero (ZRO) saw a 16.99% price drop, closing at $1.61.
Animoca Brands expands Middle East crypto operations with VARA VASP license
Animoca Brands has secured a Virtual Asset Service Provider license from Virtual Assets Regulatory Authority, clearing the path to expand its crypto operations in the Middle East.
The license authorizes the company to provide broker-dealer services and investment management tied to virtual assets in and from Dubai, excluding the Dubai International Financial Centre. The offering targets institutional and qualified investors, according to a Monday announcement.
“This licence enhances our ability to engage with Web3 foundations as well as global institutional and qualified investors within a well-regulated framework,” said Omar Elassar, managing director for the Middle East and head of global strategic partnerships at Animoca Brands.
VARA, which launched in March 2022, regulates the provision, use and exchange of digital assets across Dubai’s mainland and free zones. Its public register confirms that the license was issued on Feb. 5. The authorization permits Animoca Brands to operate under VARA’s supervision and serve eligible investors within the emirate.
Animoca Brands builds blockchain platforms and supports Web3 ecosystems such as The Sandbox, Open Campus and Moca Network. The company also invests in early-stage projects and reports a portfolio of more than 600 companies and digital-asset initiatives.
In January, Animoca Brands acquired Somo, a gaming and digital collectibles firm. The deal added Somo’s playable and tradable collectibles to its blockchain-focused portfolio.
Dubai continues to attract regulated crypto firms. In October 2025, digital asset infrastructure company BitGo received a broker-dealer license from VARA for its regional unit. Earlier, VARA imposed financial penalties on 19 companies for unlicensed virtual asset activities and breaches of its marketing rules.
American Bitcoin Corp. surpasses 6,000 BTC, joins top public holders
Trump family-backed American Bitcoin Corp. has raised its Bitcoin reserves above 6,000 BTC, creating one of the largest corporate treasuries in the public market and placing the company among the top 20 listed Bitcoin holders globally.
Blockchain data tracked by Arkham Intelligence shows American Bitcoin now holds 6,060 BTC, valued near $413 million. The firm added or mined roughly 217 BTC over the past month as Bitcoin attempted to reclaim levels above $70,000.
The accumulation combines mining output with direct market purchases, reflecting a strategy used by firms seeking long-term exposure to Bitcoin as a treasury asset. American Bitcoin’s holdings now approach Galaxy Digital, which holds 6,894 BTC according to BitcoinTreasuries.net.
Earlier this year, American Bitcoin reported reserves near 5,843 BTC, citing a Bitcoin yield of roughly 116% since its Nasdaq debut in September 2025 through late January 2026. The yield tracks growth from mined or purchased coins, excluding capital-raising activities.
Bitcoin rebounded above $70,000 on Saturday following softer U.S. inflation data, boosting risk appetite and crypto markets. Last year, American Bitcoin debuted on Nasdaq after a spin-off from Hut 8 Corp. Eric Trump co-founded the company and serves as chief strategy officer, while Donald Trump Jr. is listed as an investor.
Coinbase defends Bitcoin ETF custody dominance and asset security
Executives at Coinbase addressed concerns over Bitcoin exchange-traded funds during a recent AMA call, emphasizing the company’s leading role as a custodian and pushing back against claims that spot Bitcoin ETFs rely on “paper Bitcoin” rather than real assets.
Coinbase CEO Brian Armstrong said the firm controls more than 80% of the U.S.-listed Bitcoin ETF custody market, framing the concentration as a competitive advantage.
“We do have pretty dominant market share in terms of custody for the ETFs. I see that as a strength. We’re the trusted counterparty on the institutional side. I think we’re far ahead there, and it’s a great business for us,” Armstrong said.
He acknowledged concentration risk but noted that large ETFs diversify custodians as assets scale, allowing competitors to gain limited market share.
Armstrong highlighted Coinbase’s security measures, including cold storage systems that undergo regular audits and penetration tests. The company holds patents on its custody technology and employs cryptographers to strengthen defenses. Large institutions and government clients conduct their own audits as well.
Addressing skepticism about Bitcoin backing, Armstrong stressed that spot ETFs are fully backed by underlying assets. Coinbase CFO Alesia Haas added that while public disclosure of wallet addresses is not provided for security reasons, ETF issuers and custody clients can verify assets on-chain. She emphasized that custody holdings are separately audited, with SOC 1 and SOC 2 reports confirming controls and client asset segregation.
Executives also discussed the CLARITY Act, clarifying that Coinbase opposed the draft viewed as unworkable rather than withdrawing support. Armstrong said the company expects a market structure bill to pass, providing long-term regulatory certainty. Meanwhile, Coinbase continues operating under existing rules while engaging with lawmakers and regulators.
BlackRock moves to launch yield-generating Ethereum ETF in the U.S.
BlackRock has advanced plans for a yield-focused Ethereum fund in the U.S., according to an amended S-1 registration statement filed Tuesday.
A BlackRock affiliate purchased 4,000 seed shares at $25 each, providing $100,000 in initial capital for the trust. The proposed fund, named the iShares Staked Ethereum Trust ETF and expected to trade under the ticker ETHB, intends to stake the majority of its ether holdings, targeting 70%–95% under normal market conditions.
BlackRock estimated annualized staking rates near 3% based on early 2026 reference benchmarks. The filing notes that historical ranges do not guarantee future returns and that rewards tend to decrease as validator participation rises. The new fund contrasts with BlackRock’s existing spot Ethereum ETF (ETHA), which tracks price only without generating yield.
The filing details a sponsor fee of 0.25% per year, with a promotional waiver reducing it to 0.12% for the first $2.5 billion in assets under management during the first 12 months. Additionally, BlackRock, along with execution agent Coinbase Prime, will take an 18% cut of gross staking rewards, with net rewards accruing to the trust and shareholders.
Between 5% and 30% of the fund’s ETH will remain unstaked to support creations, redemptions, and operational needs. The filing follows BlackRock’s initial indication last year that it planned to launch a staking-focused Ethereum vehicle in the U.S. market.
Oleksii Shumak
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