Bitcoin Surges to $85,000 as Tokenized Stocks Drive the Crypto Market
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The crypto recovery has picked up speed. Bitcoin trades at roughly $85,100, up about 5.7 percent over 24 hours and around 9 percent on the week. The move runs across the market: Ether, BNB, XRP and Solana all advanced, with several smaller assets gaining considerably more.
The decisive driver is a ruling by the U.S. Securities and Exchange Commission handed down last Thursday. The regulator made onchain trading of tokenized U.S. stocks possible, a step whose effect lands directly on the blockchains where that trading is meant to happen.
What the SEC Actually Decided
The SEC issued what it calls an innovation exemption. For five years, it releases specialized trading platforms, known as tokenized securities venues, from the requirement to register as a traditional exchange. Trading runs through permissioned automated market makers and liquidity pools inside a gated environment that requires KYC checks and rules out margin trading and primary issuance.
Several conditions come attached. Each venue may list up to 75 large U.S. stocks or 250 less liquid names. Volume is capped at 0.25 percent of daily turnover for large caps and 2.5 percent for smaller ones. The tokens have to carry the same rights as the underlying shares, including dividends, voting rights and liquidation claims. Issuers have 30 days to object when a third party tokenizes their stock, and trading halts must run in sync with the primary exchange. The smart contracts have to be publicly visible and auditable on a permissionless ledger.
SEC Chairman Paul Atkins called the move a significant step toward bringing U.S. capital markets into the digital age. A comment period is running in parallel, giving market participants room to propose adjustments. The details are in the SEC’s announcement, with further analysis from Trending Topics.
Why Blockchains Stand to Gain
The market’s arithmetic is simple. Tokenized stocks need networks to run the smart contracts and liquidity pools where the tokens can be swapped against stablecoins. Attention has focused on Ethereum, Solana, BNB Chain and Coinbase’s Base, alongside decentralized exchanges such as Uniswap, Aerodrome and Raydium. In the tokenization segment, Securitize, Bullish, Coinbase and Robinhood all booked share-price gains in the hours after the decision.
For crypto, that opens a demand channel from an area that has so far sat largely outside the blockchains. Part of the Bitcoin move also looks technical. Jeff Mei, chief operating officer at exchange BTSE, traces the weekend jump to the SEC decision and the short squeeze that followed, meaning traders were forced to cover bearish positions. Few market-moving events sit on the calendar in the days ahead, and he expects volatility to return around the Federal Reserve meeting in late October.
The Top 15 Coins at a Glance
| # | Coin | Price | 24h | 7 Days |
|---|---|---|---|---|
| 1 | Bitcoin (BTC) | $85,110.32 | +5.73% | +9.43% |
| 2 | Ethereum (ETH) | $2,746.10 | +6.36% | +9.04% |
| 3 | Tether (USDT) | $0.9998 | +0.02% | +0.03% |
| 4 | BNB (BNB) | $784.32 | +4.40% | +8.49% |
| 5 | XRP (XRP) | $1.48 | +7.02% | +6.87% |
| 6 | USDC (USDC) | $0.9998 | 0.00% | +0.01% |
| 7 | Solana (SOL) | $116.46 | +7.41% | +14.85% |
| 8 | TRON (TRX) | $0.3444 | +0.83% | +1.29% |
| 9 | Zcash (ZEC) | $1,510.55 | +4.82% | +33.23% |
| 10 | Hyperliquid (HYPE) | $95.81 | +5.30% | +20.75% |
| 11 | Dogecoin (DOGE) | $0.09413 | +10.62% | +11.96% |
| 12 | Monero (XMR) | $575.52 | +10.06% | +11.63% |
| 13 | Chainlink (LINK) | $13.04 | +8.31% | +14.86% |
| 14 | Cardano (ADA) | $0.2405 | +8.85% | +14.34% |
| 15 | UNUS SED LEO (LEO) | $8.94 | +0.30% | -0.17% |
Source: CoinMarketCap, snapshot
Privacy Coins and NEAR Lead the Outliers
Privacy coins stand out. Zcash is up around 33 percent on the week and trades above $1,500, while Monero added roughly 10 percent within a day. Just outside the top 15, NEAR recently jumped about 23 percent to a little above $4 and gained some 80 percent over the week.
Behind that, according to CoinDesk, is the growth of NEAR Intents, a swap service on the NEAR blockchain that lets wallets trade tokens across chains while the user’s funds stay put. Wallets such as ZODL and Vizor have integrated it to offer ZEC swaps, and daily ZEC volume routed through the service rose sixfold within a week. That turns NEAR into the routing layer for one of the most heavily traded tokens on the market, and its own token is tracking that traffic.
Equity Markets Add Tailwind
Support also came from the macro backdrop. MSCI’s Asia Pacific index climbed close to 1 percent, led by technology stocks in South Korea and Taiwan, after U.S. officials described ongoing talks with China as very successful ahead of a meeting between Donald Trump and Xi Jinping. Futures on the S&P 500 and Nasdaq 100 traded higher, while oil slipped and eased some of the pressure on inflation expectations.
