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Inflation is up, Washington punted the crypto bill to next month, and more news arrived this week. Here’s what you need to know:
quick weekly news
Bitcoin holds near $64K as July inflation comes in exactly on target
The Consumer Price Index rose 0.1% in July from the previous month, putting headline inflation at 3.4% year over year, a touch below June’s 3.5%. Meanwhile, Core CPI, which strips out food and energy, matched forecasts and rose 0.2% in July, bringing annual core inflation down to 2.5% from 2.6% in June.
Source: goodcryptoX
Bitcoin fell from $64,400 to $64,080 in a knee jerk reaction before stabilizing, still roughly flat over 24 hours. BTC had dipped as low as $63,200 earlier in the week, with traders trimming risk ahead of the release and Iran keeping the Strait of Hormuz dispute alive, then clawed most of that back once the print matched consensus.
Treasury yields drifted lower too. The two year hovered at 4.22%, the ten year at 4.7%, both down a few basis points on the day. Traders trimmed their odds of a September Fed hike to 36%, down from 55% a week earlier, according to the CME FedWatch Tool.
Source: CME FedWatch Tool
Bitcoin has now spent five weeks boxed inside $62,000 and $66,000, and an in-line inflation print did nothing to force a break in either direction. The next real catalysts are producer price data and the Fed’s September meeting, not this week’s numbers.
Clarity Act misses its Senate vote again, pushed to mid-September
The Senate left for its August recess without voting on the Digital Asset Market Clarity Act, the crypto industry’s biggest legislative priority this year. Senate Majority Leader John Thune confirmed through a spokesperson that there would be no vote in August, pointing to Democrats as the reason for the delay.
Source: X
The Senate returns September 14, and Thune filed cloture before leaving town, setting up the earliest possible procedural vote for September 15. That vote would be on whether to advance the bill, not on final passage.
The core sticking point remains an ethics provision aimed at restricting how senior federal officials, including Trump, can profit from or promote crypto projects. Democrats have pushed for stronger ethics and conflict-of-interest protections around Trump’s crypto activities. A competing ethics compromise from senators Thom Tillis and Ruben Gallego was sent to the White House in late July, with the White House not immediately responding to a request for comment.
The bill still faces a steep path to the 60 votes needed to advance in the Senate, with lawmakers divided over ethics and other provisions. Some Republican senators have also raised concerns over the bill’s ethics and stablecoin provisions.
Goldman Sachs buys its way into bitcoin income ETFs with a $2.25B NEOS deal
Goldman Sachs agreed to acquire NEOS Investments in a cash and equity deal worth up to $2.25 billion. The deal is expected to close in the first quarter of 2027, subject to regulatory approval and other customary closing conditions.
Source: Goldman Sachs
NEOS manages $30 billion across 19 options-based income ETFs, giving Goldman a much larger footprint in the fast-growing derivative-income ETF market. The combined platform, including Goldman Sachs Asset Management and Innovator Capital Management, will have more than $130 billion in ETF assets and rank as the eighth-largest active ETF manager globally, based on Morningstar data as of June 30, 2026.
The acquisition also brings NEOS’s bitcoin income products under Goldman Sachs Asset Management, including its NEOS Bitcoin High Income ETF (BTCI), which seeks to generate monthly income through exposure to bitcoin ETPs and options strategies.
Fidelity files to stake up to 100% of its $898M Ethereum ETF
Fidelity filed a pre-effective amendment with the SEC on August 11 to let its spot Ethereum ETF, FETH, stake the ether it holds and distribute the rewards to shareholders as quarterly cash.
Source: SEC filing
Under the plan, FETH could stake up to 100% of its ether under normal conditions, reserving what it needs for redemptions, expenses and liquidity. Fidelity would use Anchorage Digital, BitGo and Fidelity Digital Assets as custodians, with Blockdaemon, Figment and Galaxy Digital among the node operators. The Trust would retain 85% of staking rewards, with the remaining 15% going to the Sponsor, custodians and node operators as staking fees.
Fidelity isn’t first. Grayscale was the first U.S. Ethereum ETP to distribute staking rewards to shareholders, while the SEC has already acknowledged a similar BlackRock proposal for its ETHA fund. The move also follows an IRS safe harbor issued in November 2025 that allows qualifying investment and grantor trusts to stake digital assets without jeopardizing their tax status.
The filing is blunt about the tradeoffs. Distributions aren’t guaranteed, and Fidelity can modify, suspend, or terminate them at its discretion. Staked ether also carries slashing risk and can become temporarily inaccessible during the unstaking process. The amendment only takes effect once the SEC declares the registration statement effective.
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