Publicly traded digital-asset treasury companies have lost about $50 billion in shareholder value, while investors step up scrutiny of compensation plans, dilution and related-party transactions at firms tied to Bitcoin, Ethereum and Solana strategies.

Bitcoin's realized capitalization has risen for the first time in 2026 after an extended decline, pointing to renewed on-chain capital inflows as markets also weigh ETF demand, Federal Reserve policy, and weaker sentiment tied to a failed U.S. Senate vote.

Allium said stablecoin supply rose to $303 billion in August 2026, while payment volume for the first eight months climbed to as much as $527 billion, with business payments and cross-border transfers driving much of the growth.

Morgan Stanley’s spot Bitcoin ETF, MSBT, had net assets of $635 million as of September 14, with cumulative net inflows of $538 million, extending a recent run of steady subscriptions after its April listing on the NYSE.

BlackRock’s iShares Bitcoin Trust has recorded $1.08 billion in net inflows over 20 trading sessions, while Grayscale’s GBTC saw outflows, underscoring how investor demand within the U.S. spot Bitcoin ETF market remains concentrated in a few products.

Bitcoin short-term holders have remained in profit for roughly a month, with unrealized gains estimated at $168 billion and losses above $100 billion, adding to debate over whether a broader bear-market phase may be ending.

U.S. spot Ethereum ETFs posted a combined net inflow of $121.02 million on their second trading day, led by BlackRock’s ETHA, while roughly 140,000 ETH left exchanges over the past four days.

Bitwise has closed its Dogecoin ETF roughly 10 months after launch after the fund raised $687,713 by Sept. 9, highlighting weak investor demand for regulated memecoin exposure compared with other crypto fund categories.

U.S. Dogecoin ETFs have drawn just over $12 million in cumulative net inflows since launching last November, while XRP and Solana ETF products have reached $1.7 billion and $1.36 billion, highlighting a sharp split in altcoin ETF demand.

Aníbal Garrido said USDT trading in Venezuela has climbed to 44 million tokens a day on an exchange’s P2P market, underscoring stablecoin demand tied to limited access to electronic dollars and cross-border transfer flexibility.