Bitwise filed its third amendment to the S-1 registration statement for a NEAR spot ETF with the U.S. Securities and Exchange Commission, advancing plans to list on NYSE Arca pending approval. The filing discloses the proposed ticker NRR and says Bitwise Asset Management bought $200 of seed shares, receiving 8 shares at $25 each. The trust intends to stake 100% of its NEAR holdings, while management fees and any fee waivers have not been disclosed. NEAR rose 4% to $1.73 as the protocol rolled out the Nearcore 2.13 upgrade and staking-based payments, though trading volume fell 10% amid caution tied to yen carry-trade unwind risks.

Circle (CRCL) shares fell more than 5% in premarket trading on Monday after Morgan Stanley downgraded the stock and slashed its price target to $38 from $106. TD Cowen initiated coverage with a “buy” rating and an $82 target, but it did little to offset the negative tone. The stock ended Friday down 2.54% at $62.61 and is down 9% over the past month as investors also weigh the escalating U.S.-Iran situation and regulatory uncertainty, including Polymarket odds below 30% for the Clarity Act to pass this year.

Circle (NYSE: CRCL) shares fell 2.54% on July 31 to close at $62. USDC accounted for 62% of July stablecoin transaction volume, or $849 billion. Total stablecoin volume declined 22.6% month over month to $1.36 trillion from $1.77 trillion in June, while USDC volume slipped from a June record of $1.2 trillion to $849 billion. The data point to a near-term cooling in stablecoin activity that is weighing on expectations for Circle as an issuer and on market sentiment.

Circle has secured a virtual currency-related license from the New York Department of Financial Services (NYDFS), marking another major compliance milestone after authorization from the Office of the Comptroller of the Currency (OCC). The earlier OCC authorization helped drive a 10% single-day jump in Circle’s shares. On the same day, ARK’s ARKK, ARKW and ARKF funds bought nearly 109,000 Circle shares for about $6.83 million. The move bolsters Circle’s regulatory credibility as the issuer of the USDC dollar stablecoin and is seen as a tangible positive for counterparties with direct business or investment ties to the company.

Goldman Sachs, Barclays and Jefferies cut their 12-month price targets for Robinhood (HOOD), lowering the average target to $118 from $137. The moves came after the company posted strong Q2 results, with revenue of $1.31 billion and EPS of $0.62 beating expectations. Crypto revenue, however, slid 38% year over year to $100 million, raising questions about the durability of growth and sending the stock down nearly 4% in after-hours trading.

Coinbase (COIN) fell 2.22% on July 22 to $171 as the implied odds of the CLARITY Act passing slid from 52% to 41%. The pullback followed Democratic senators’ pushback against a White House plan to have the Department of Justice enforce the bill’s ethics provisions instead of the state attorney general. Even after COIN cleared the $170 level and indicators such as CMF and ADX pointed to strengthening momentum, rising regulatory uncertainty weighed on sentiment. Raymond James set a $158 target price, citing concerns about weak spot trading volumes.

ARK Invest bought about 148,000 shares of SPCX worth $18.3 million as the stock hit a new post-IPO low, while also cutting its Robinhood position by more than 26,000 shares. The trades took place on July 17, the same day SpaceX called off the Starship Flight 13 launch shortly before liftoff after at least two Raptor engines on the Super Heavy booster failed to ignite. SPCX fell 5.43% to close at $123.99, about 35% below its $135 IPO price.

ECB Executive Board member Piero Cipollone said on July 17 that stablecoins could erode bank deposits and urged faster rollout of a digital euro. On the same day, U.S. banking groups asked the Senate to revise Section 404 of the CLARITY Act to bar stablecoin issuers from offering yields. Coinbase (COIN) fell to $157 and Circle (CRCL) slid to $60, with CRCL also hitting a six-month low. Analysts said the CLARITY Act’s trajectory and fresh regulatory warnings are weighing on the stocks.

Circle (NYSE: CRCL) shares fell 2.22% in premarket trading on July 14 after banking industry groups warned the CLARITY Act, as currently drafted, could spur deposit flight from smaller banks toward yield-paying stablecoins such as Circle’s USDC. The groups urged Senate leaders to tighten the wording in Section 404 to draw clear, enforceable lines around interest and yield-like incentives. The stock slid below the $62 support level, while Baird cut its price target to $100 and warned Circle’s Q2 2026 revenue may come in below Wall Street estimates. Odds of the bill passing have fallen to 37%.