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The SEC's new custody proposal would let registered advisers and funds use state trust companies or even self-custody to hold crypto, replacing years of ambiguity. This is the single biggest structural change for institutional Bitcoin access in recent memory and is the main reason price touched $87K this week.

FinCEN is withdrawing two long-standing proposals that would have required reporting on self-custody wallets and mixer transactions, citing a White House crypto policy directive. Scrapping these rules removes a multi-year threat to Bitcoin self-custody and privacy tools.

The SEC has greenlit Cboe listings for Volatility Shares 3x Bitcoin and Ether futures products, giving US traders triple daily exposure without needing a derivatives account. More leveraged products generally attract more speculative volume and can amplify price moves in both directions.
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