Bitcoin Returns to $80K Amid Fed Hawkish Tone, Solana ETF Tops $1B

Bitcoin reclaimed the $80,000 mark after a 24% weekly rally, marking its strongest price move in more than three years. The advance stalled near the $81,000‑$82,000 resistance zone, leaving spot demand as a key test for the rally’s durability.

Fed Chair’s Hawkish Signal

Federal Reserve Chair Kevin Warsh, speaking at the Jackson Hole symposium, said the central bank could raise rates again unless inflation moves quickly toward the 2% target. He noted that recent headline PCE inflation was 3.7% YoY and core PCE was 3.3% YoY. Bitcoin briefly slipped below $80,000 after the remarks as traders reassessed the monetary‑policy outlook.

Solana Staking ETF Breaks $1 B

Bitwise’s Solana Staking ETF became the first Solana‑focused fund to surpass $1 billion in assets, according to Bloomberg ETF analyst Eric Balchunas. The broader U.S. Solana ETF category holds about $1.7 billion, with limited redemptions despite a price decline earlier in the year. Bitwise’s other crypto products attracted roughly $100 million in net inflows on Aug. 27, led by Solana.

Ethereum Gains on ETF Demand

Ethereum rose about 29% over the same seven‑day period, outpacing Bitcoin’s 21% gain. The token traded near $2,500, supported by strong inflows into U.S. spot Ethereum ETFs, which drew about $365 million in July.

Brokerage Expansions and New Products

• Charles Schwab announced plans to add Solana, Avalanche and Chainlink to its crypto trading platform in the coming months.
• Coinbase and Better launched a Bitcoin‑backed mortgage product, allowing borrowers to pledge BTC worth 250% of the down‑payment.
• Grayscale introduced the first U.S. spot Zcash ETF on NYSE Arca, giving investors regulated exposure to the privacy coin.

Regulatory and Security Highlights

• The SEC proposed a framework for public token sales, outlining exemptions and disclosure requirements for issuers.
• The CLARITY Act debate shifted to national‑security concerns, with former Defense Secretary Mark Esper emphasizing the need for U.S. market‑structure rules.
• A wallet linked to North Korea’s Lazarus Group moved 244.148 BTC (≈$19.4 million), drawing renewed scrutiny of the group’s crypto activity.