Welcome back. 👋 Each week we cut through the noise and explain what’s driving crypto. This week brought a steady stream of developments across traditional finance and core infrastructure. While markets stayed relatively quiet, banks, regulators, and networks made moves that continue to shape how digital assets fit into the broader financial system.

- Validator Digital

Crypto spent the week stuck in a choppy range. Bitcoin traded between $88K and $93K, repeatedly breaking above or below this zone but failing to hold those moves for long. These quick reversals show that buyers and sellers are active, but neither side has enough strength to push the market into a decisive trend.

Despite the lack of direction, the market does seem to be building a short-term bottom. Dips are getting bought more consistently, though there’s still no real conviction behind either a breakout or a breakdown.

Overall, the market is steadying, but still waiting for a catalyst to choose its next path.

The past few weeks have been unusually active for major US banks. This week added two important updates that show how quickly digital asset access is becoming part of standard investment infrastructure.

What Happened
Bank of America announced that beginning January 5, 2026, its Merrill and Private Bank advisors will be able to recommend spot Bitcoin ETFs. Guidance suggests a 1% to 4% allocation range for eligible clients. Coverage includes ETFs from BlackRock, Fidelity, Bitwise and Grayscale.

Vanguard, long known for excluding crypto products, updated its policy on December 2, 2025, to allow clients to trade spot Bitcoin and Ethereum ETFs on its brokerage platform. This marks a clear shift from its earlier position that crypto did not fit its investment philosophy.

These firms join institutions such as JPMorgan and Charles Schwab that have already opened similar access.

Why It Matters
The significance lies in the operational shift. These banks have moved from blocking crypto products to integrating them into their normal brokerage systems. That change reflects updated compliance views, clearer regulatory expectations and steady client demand.

The timing is notable as well. Multiple institutions adjusted their policies within the same period, suggesting broader alignment across the industry. When access becomes standard inside large financial platforms, allocation decisions and market participation start to change in more durable ways.

Bottom Line
Digital asset exposure is becoming a routine part of mainstream investment platforms. This week added two large institutions to the list and signaled continued normalization across traditional finance while granting access to millions of clients and trillions of client’s assets.

ETF Filings Begin to Take Off
New SEC data shows steady growth in spot ETF filings for layer-one tokens outside of Bitcoin and Ethereum. Solana and XRP lead with five approved ETFs each and several additional applications under review, while other networks including Avalanche, Litecoin, Hedera and Polkadot also have filings pending. The distribution highlights how quickly regulated products are broadening across the larger ecosystem.

If a transaction is a single line in the record book, a smart contract is a whole set of instructions written into the book — a list of “if this happens, then do that” rules the network follows automatically. Once those rules are published, no one can rewrite them or sneak in exceptions.

It works like a vending machine: you choose an option, press a button, and the machine carries out the instructions exactly as designed. No clerks, no approvals, no humans in the middle — just code that runs itself when the right conditions are met.

Smart contracts can do everything from creating tokens, to handling payments, to tracking ownership, to powering entire apps — all by following the rules written into their code. And one of the most common things they manage are digital assets called tokens, the next piece of the puzzle.

Next Week: What are Tokens vs. Coins?

Last Week: What is a Gas Fee?

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See you next week,

Don’t speculate, validate.
- Validator Digital

Disclaimer: Individuals have unique circumstances, goals, and risk tolerances, so you should consult a certified investment professional and/or do your own diligence before making investment decisions. The author is not an investment advisor and may hold positions in the assets covered. Certified professionals can provide individualized investment advice tailored to your unique situation. This newsletter is for general educational purposes only, is not individualized, and as such should not be construed as investment advice.