The U.S. Securities and Exchange Commission unveiled “Project Crypto,” a broad initiative aimed at modernising oversight of digital assets. The plan, announced on 2 August, promises clearer token-classification rules, formal recognition of self-custody, and a regulatory path for decentralised finance and other on-chain applications. As part of the shift, the SEC approved in-kind creations and redemptions for spot Bitcoin and Ether exchange-traded funds, a mechanism issuers say will cut costs and improve liquidity. NYSE, Cboe and Nasdaq promptly submitted new frameworks to list a wider range of crypto ETFs, while record inflows were reported for spot Ether products. The White House called the developments a step toward a “golden age of crypto.” JPMorgan said it will collaborate with Coinbase to expand institutional access, and exchange operator Kraken was reported to be eyeing a $15 billion initial public offering. Market reaction was mixed: Bitcoin slid to about $112,680, down 3 per cent, and Ethereum fell nearly 7 per cent to $3,463, even as broader digital-asset inflows and corporate activity underscored growing mainstream interest in the sector.