币界网报道：According to a report from Bijie.com on July 2, QCP Capital, a crypto investment institution in Singapore, said that Bitcoin showed its resilience in the end-of-quarter capital flow, and listed companies continued to increase their holdings of spot goods. Companies have purchased more BTC than ETFs for three consecutive quarters. The SEC has taken frequent actions, approving pledged Ethereum and Solana ETFs, and Grayscale's large funds have transformed into ETFs. It also plans to formulate common standards to simplify and accelerate the approval process of token ETFs. Enterprises are accelerating the allocation of crypto assets. Bitmine raised $20 million in private placement to increase its holdings of Ethereum, and DeFi Development raised $100 million to acquire Solana and repurchase shares. In the field of infrastructure, Circle applied for a US license, Robinhood launched new business in Europe, and Trump's crypto mining project raised $220 million. In terms of market structure, the liquidity of derivatives has improved, and BTC's market share has remained high. The macro environment is favorable for risky assets. The Trump administration has released a signal of easing, and the trend of rising risk appetite has been transmitted to the field of digital assets. The market structure shows that the liquidity of the cryptocurrency derivatives market continues to improve. CME's Solana futures open interest reached a record high of 1.75 million, and XRP futures first month trading volume exceeded $500 million. BTC market share remained at a multi-year high of 65%-66%. Retail investors, early adopters and short-term holders seem to have entered a summer break, while institutions have quietly increased their holdings. The market's attention has now turned to the third and fourth quarters, and the position data suggests that a volatility regime shift may be coming. The macro environment continues to be favorable for risky assets. Trump confirmed that the Senate passed the "Big America" Act, criticized Powell and hinted at a replacement; the market priced in a rate cut that exceeded the Fed's expectations, and the Treasury Secretary also released a signal of easing. The US stock market continued to rise due to the recovery of IPOs and the easing of risk expectations. The trend of warming risk appetite has been transmitted to the digital asset field, but the sentiment of the altcoin market is still lagging.