Tokenized gold, Grayscale ETF withdrawal, and new NYSE platform: key crypto market events for August 10
The UK regulator is working on a regulatory framework for tokenized gold, Grayscale has withdrawn applications for three ETFs, and the NYSE has created a platform for settlements on tokenized securities.
While the market was in a consolidation phase, institutional players continued to shape the future of digital assets. The focus is on gold on the blockchain, the winding down of ambitious plans for altcoin funds, and steps by the world's largest exchange toward DeFi infrastructure.
Market: Bitcoin holds $65,000, altcoins in a sideways trend
At the time of analysis, around 08:45 Moscow time, bitcoin (BTC) was trading near the $65,027 mark. Within half an hour, quotes for the flagship cryptocurrency rose to $65,400, then fell to $64,800, after which they stabilized around $65,000. Ethereum (ETH) showed similar dynamics, holding in the range of $1905–$1935 after noon.
The top 10 coins by market capitalization showed minimal volatility over the day. Solana (SOL) gained only 1.19%, while Hyperliquid (HYPE) corrected by 0.68%. This points to the absence of a pronounced trend and anticipation of new drivers.
Among the top 100 over the week, Pump.fun (PUMP) stood out, surging by 38.64%. LayerZero (ZRO) and Curve DAO Token (CRV) also showed solid growth—by 20.36% and 19.37%, respectively. Such a spread indicates targeted interest in projects with real liquidity and utility, rather than a broad altcoin rally.
Britain prepares the ground for tokenized gold
The UK Financial Conduct Authority (FCA) is in active talks with major banks and industry participants to create a regulatory framework for tokenized gold. The new rules may allow the use of such assets as collateral in wholesale markets. Standards are expected to be announced in the coming months.
London today provides about 70% of global gold trading volume, and British authorities are clearly aiming to increase market efficiency through tokenization. This is a logical step: blockchain can reduce costs and speed up settlements for precious metals, which will strengthen London's position as a global financial center.
Grayscale winds down altcoin ETF plans
American investment company Grayscale Investments has withdrawn registration applications for three exchange-traded funds (ETFs) for altcoins. According to SEC documents, the company filed RW forms, withdrawing S-1 registrations for the Grayscale Cardano Trust ETF, Grayscale Hedera Trust ETF, and Grayscale Polkadot Trust ETF.
The withdrawal of applications means that plans to launch these products have been suspended. The reasons are not disclosed in the documents, but this is not the first time Grayscale has wound down altcoin initiatives, focusing on core products, including the spot bitcoin ETF. Obviously, the company is reassessing priorities amid uncertainty over regulatory approvals.
NYSE builds a bridge between TradFi and DeFi
President of the New York Stock Exchange (NYSE) Lynn Martin said that the exchange is developing an online platform for settlements on tokenized securities. In July, the NYSE already participated in a tokenization pilot project organized by the Depository Trust & Clearing Corporation (DTC).
According to Martin, the NYSE continues to explore how distributed ledger technology can serve as foundational infrastructure for global financial markets and become a link between traditional finance and decentralized finance (DeFi). The development of its own platform confirms the exchange's commitment to modernizing post-trading processes. This is a signal that cannot be ignored: the largest TradFi players see tokenization not as an experiment, but as a strategic direction for development.
My view: Tokenization of gold and securities is not just hype, but a natural evolution of the financial system. When giants like the NYSE and FCA begin building infrastructure, it speaks to the maturity of the market. However, Grayscale's withdrawal of applications reminds us that even major players are cautious amid regulatory uncertainty. Investors should keep an eye on these processes—they will determine the next big growth cycle.