Welcome to This Week in Crypto, where we break down the most talked-about stories shaping the world of digital assets. From regulatory updates to cross-border ETF launches and major BTC buys, here’s what’s been making headlines across the crypto space.
Here’s a quick look at what’s new:
- Grayscale adds Avalanche and Morpho: The updated Top 20 list highlights projects with real network growth—XRP and Cardano didn’t make the cut.
- Ripple and SEC end 5-year case: Both sides agreed to drop their appeals, officially closing one of crypto’s longest legal battles.
- Strategy adds $531M in Bitcoin: The company’s latest BTC purchase pushes its total holdings above 597,000 coins.
Let’s get into the details and see what it all means for crypto this week!
Grayscale Adds Avalanche and Morpho to Top 20 Crypto List
Grayscale has updated its Top 20 crypto asset list for Q3 2025, adding Avalanche (AVAX) and Morpho while removing Optimism and Lido DAO. The list is based on research that looks at real network activity, not just popularity or market size. Well-known names like Bitcoin, Ethereum, and Solana remain on the list, along with newer projects in DeFi and blockchain infrastructure.
- Avalanche was added due to recent growth in network usage, especially from gaming and stablecoin activity.
- Morpho joined the list after doubling its total value and nearing $100 million in yearly fee income.
- Grayscale says both projects show strong fundamentals and potential within their categories.
Some large-cap assets, including XRP, Cardano, BNB, and TRON, were not included in the list. Grayscale says its focus is on sustainable activity and development rather than size alone. It’s worth noting that inclusion on Grayscale’s list, or any list, does not guarantee future performance or success.
Ripple and SEC End 5-Year Legal Battle by Dropping Appeals
Ripple and the U.S. Securities and Exchange Commission (SEC) have agreed to drop their remaining appeals, bringing their long-running legal dispute to a close. The case, which began in 2020, centered around whether Ripple’s sale of XRP tokens to institutional investors violated securities laws. With both sides walking away from further litigation, the matter is now effectively settled.
- Ripple will no longer pursue its appeal regarding earlier findings on institutional sales of XRP.
- The SEC is also expected to withdraw its appeal challenging the court’s ruling on XRP’s non-security status in secondary markets.
- A civil penalty related to institutional sales is still expected, but the final amount has not been confirmed.
The outcome leaves XRP with a degree of legal clarity in the U.S., especially regarding its treatment in secondary markets. Ripple says it will now focus on expanding its global payment tools and the use of its XRP Ledger.
Strategy Buys $531M in Bitcoin, Bringing Total Holdings to 597,000+ BTC
Strategy has continued expanding its Bitcoin holdings, purchasing nearly $531 million worth of BTC last week. The company added 4,980 Bitcoin at an average price of $106,801 per coin, according to a new SEC filing. Strategy now holds a total of 597,325 BTC, making it the largest corporate holder of Bitcoin.
- The company’s total investment in Bitcoin is now approximately $42.4 billion, with an average entry price of $70,982.
- Year-to-date, Strategy has added over 85,000 BTC to its holdings.
- Blockchain analysts also tracked a $796 million transfer to new wallets, which may be tied to updated custody arrangements.
Strategy has maintained a buy-and-hold approach since first purchasing Bitcoin in 2020. The company says it aims to continue building its position over time, as part of its long-term strategy.
