Bitcoin Hits $80,000, Warsh Embraces Hawkish Position, Solana ETF Exceeds $1 Billion

In this week’s recap, Bitcoin rallied back to $80,000, marking its strongest surge in over three years, though traders encountered challenges in breaking past the $82,000 threshold. Meanwhile, Federal Reserve Chair Kevin Warsh cast a shadow over risk assets by suggesting potential interest rate hikes, as Bitwise’s Solana staking ETF became the first SOL fund to surpass $1 billion.

Bitcoin rebounds to $80,000 after a 24% weekly surge

• Bitcoin climbed above $80,000 for the first time since May 15, recovering from below $64,000 on August 19. The bounce extended to about 38% from its late June low beneath $58,000 as US spot Bitcoin ETFs reported nearly $1.92 billion in weekly inflows.
• Analysts informed crypto.news that the initial surge was supported by short liquidations and US Treasury buybacks. Bitcoin encountered difficulty surpassing the $81,000–$82,000 resistance zone, with spot demand being a crucial factor in assessing the sustainability of the rally.

Warsh hints at potential rate hikes

• Federal Reserve Chair Kevin Warsh mentioned the possibility of an interest rate increase during his speech at Jackson Hole on August 28. He conveyed that the Fed might find it challenging to characterize financial conditions as restrictive and warned of rising rates unless inflation swiftly returned to the bank’s 2% objective.
• Following his remarks, data indicated that the headline personal consumption expenditures inflation hit 3.7% annually in July, while core PCE was at 3.3%. Bitcoin briefly dipped below $80,000 post-speech as traders reassessed US monetary policy perspectives.

Bitwise’s Solana ETF surpasses $1 billion

• The Bitwise Solana Staking ETF has become the first Solana fund to exceed $1 billion in assets, according to Bloomberg ETF analyst Eric Balchunas. The overall US Solana ETF sector has drawn about $1.7 billion, with minimal sustained redemptions even amid SOL’s decline during the first half of 2026.
• On August 27, Bitwise’s US crypto products garnered about $100 million in net inflows, with Solana leading the firm’s daily intake, followed by Bitcoin and Hyperliquid products.

Ethereum climbs 29% as ETF interest rises

• Ethereum rose roughly 29% over the past week, outperforming Bitcoin’s 21% increase during the same time frame. ETH reached around $2,546 before stabilizing between $2,450 and $2,500.
• Fundstrat’s Tom Lee noted that an Ethereum market rotation had commenced and projected a potential rise to $10,000 within two years. US spot Ethereum ETFs attracted approximately $365 million in July, contrasting with $205 million for Bitcoin funds, while BitMine disclosed holdings of 5.82 million ETH.

Charles Schwab to include SOL, AVAX, and LINK in trading

• Charles Schwab announced plans to add Solana, Avalanche, and Chainlink to its cryptocurrency trading platform in the near future. The brokerage has yet to specify an exact launch date or whether these assets will be available simultaneously.
• This expansion will provide Schwab clients with direct access to altcoins through a reputable US brokerage platform. The firm previously launched Bitcoin and Ethereum trading as part of a phased rollout of digital asset services.

Solana surpasses $100 as network activity hits a record

• Solana broke past the $100 mark for the first time since February, gaining about 40% over eight days. Monthly network activity soared to a record 4.2 billion transactions due to increased trading and institutional demand.
• Validators supported a proposal aimed at accelerating the network’s declining inflation rate, securing the needed two-thirds majority, which could decrease projected issuance by roughly 18.9 million SOL over six years. A separate resource-fee proposal did not meet the necessary support.

Debate on CLARITY Act shifts to national security concerns

• Former US Defense Secretary Mark Esper characterized the CLARITY Act as a national security measure ahead of a planned Senate cloture vote on September 15. He argued that the lack of federal market-structure regulations could drive crypto activity and development outside the United States.
• Esper, who serves on Coinbase’s advisory council, has ties relevant to his backing of the legislation. The bill aims to allocate oversight responsibilities between the SEC and the CFTC, but lawmakers have yet to finalize the measure.

Coinbase and Better unveil Bitcoin-backed mortgages

• Coinbase and Better introduced a Bitcoin-backed mortgage product enabling eligible borrowers to use BTC as collateral for down payments. Customers are required to pledge Bitcoin valued at 250% of the down payment rather than liquidating the asset.
• Coinbase One members can earn a 1% Bitcoin rebate, capped at $10,000. The terms also stipulate that liquidation of collateral may occur after a 60-day delinquency, placing borrowers at risk regarding both mortgage obligations and fluctuations in Bitcoin’s market value.

SEC proposes a framework for public token sales

• The SEC has put forth a framework for public crypto token offerings as it progresses toward establishing formal digital asset regulations. The proposal would set exemptions and disclosure requirements for issuers looking to sell tokens in the United States.
• Bloomberg noted that demand for conventional initial coin offerings has decreased since the 2017 boom, as projects increasingly seek private funding, airdrops, and alternative distribution methods. Nevertheless, the proposal represents an effort to regulate token fundraising within a clearly defined US securities structure.

Grayscale launches first US spot Zcash ETF

• Grayscale has introduced the first spot Zcash ETF on NYSE Arca, broadening the range of US-listed crypto funds to include privacy-focused assets. This launch followed a strong rally in ZEC, pushing the token to its highest point since 2018.
• Zcash reached a peak of approximately $885 before pulling back and later gaining above the $800 threshold. The fund offers US investors regulated brokerage access to ZEC exposure without the need for direct custody of the token.

Strategy pauses Bitcoin sales after divesting 6,948 BTC

• Strategy announced no Bitcoin sales occurred between August 17 and August 23 after selling off 6,948 BTC from May to August. Bitfinex analysts noted that early sales were minor compared to daily Bitcoin volume but could undermine the entity’s reputation as a permanent corporate holder.
• During the latest reported timeframe, Strategy raised around $2.01 billion through common stock sales and maintained a $5.1 billion US dollar reserve. Their remaining 840,447 BTC turned profitable as Bitcoin bounced back to the $80,000 mark.

Lazarus Group-linked wallet transfers $19.4 million in Bitcoin

• A wallet associated with North Korea’s Lazarus Group transferred 244.148 BTC, valued at approximately $19.4 million. Blockchain monitoring services identified the funds as linked to the state-backed hacking entity, though the intention behind the transfer remains unclear.
• This transaction has drawn renewed scrutiny regarding the group’s cryptocurrency holdings and laundering activities. Governments and blockchain analysts have previously connected numerous attacks on exchanges, bridges, and protocols to Lazarus, making movements from related wallets critical security events.