SoSoValue data showed that U.S. spot XRP ETFs recorded a total net inflow of $18.3832 million on Aug. 21 Eastern Time. Bitwise XRP ETF led the group with $16.8908 million in daily net inflows and $543 million in cumulative net inflows. Franklin XRP ETF added $1.4924 million, bringing its historical net inflows to $434 million. As of press time, spot XRP ETFs held $1.328 billion in total net assets, with an XRP net asset ratio of 1.54% and cumulative net inflows of $1.552 billion.

SoSoValue data showed that XRP spot ETFs recorded a combined net inflow of $18.38 million on Aug. 21, U.S. Eastern Time. Bitwise XRP ETF led the group with $16.89 million in daily net inflows and a cumulative net inflow of $543 million. Franklin XRP ETF followed with $1.49 million in daily inflows and a cumulative net inflow of $434 million. As of press time, XRP spot ETFs held $1.328 billion in total net assets, with an XRP net asset ratio of 1.54% and cumulative net inflows of $1.552 billion.

Digital Asset, the creator of the Canton Network, and former US House Speaker Paul Ryan’s American Idea Foundation plan to pilot a blockchain-based system for distributing state-administered benefits across three US states. The RISE program is expected to launch in the first quarter of 2027 and would combine multiple benefits into monthly or twice-monthly payments, with spending rules tied to categories such as food, child care and cash. According to Friday’s announcement, the system would automatically adjust benefit levels as household income changes and let participating agencies track payments, balances, spending and compliance data through Canton. Digital Asset said Canton would coordinate the rules, permissions and transactions used to distribute benefits while limiting access to sensitive information. Ryan said the pilot is intended to reduce penalties that can occur as recipients’ incomes rise. The companies did not name the participating states or specify which benefit programs would be included, and said the pilots remain subject to federal approval. The announcement also said Canton’s recent growth has centered on institutional finance, including government-securities projects, while Canton Coin has a market cap of about $4.1 billion, according to CoinGecko.

Jupiter Chief Operating Officer Kash Dhanda laid out a clear portfolio framework in a podcast recorded on Aug. 20, saying more than half of his own holdings sit in stablecoins earning 5% to 7%, while the rest is allocated to very high-risk assets that could fall 85% in six weeks. He described that setup as a barbell strategy and argued that crypto wealth is built less by luck than by discipline, risk management and compounding yield over time. Across the conversation, Dhanda called meme coins a form of "adrenaline service" more comparable to video games than durable investments, and said most of them die quickly even if a small number survive. He also framed crypto’s long-term direction as "infinite capitalism" — a model of unlimited access and unlimited assets where anyone can access capital markets at any time from anywhere. On Solana, he said roughly $700 million in real-world assets flowed onto the chain over the past 30 days, more than all other chains combined, and that 98% of tokenized stock trading takes place there. On Jupiter, he said the team is repositioning JUP after what he described as a weak prior cycle, including using 50% of revenue to buy back the token.

Franklin Templeton has won a regulatory opening from the U.S. Securities and Exchange Commission that allows registered funds within the group to invest in its tokenized money market fund, Franklin OnChain U.S. Government Money Fund, or BENJI. According to Bloomberg’s Aug. 20 report, the firm plans to use BENJI inside traditional ETFs and mutual funds for cash management and securities-lending collateral, giving mainstream fund investors indirect exposure to an on-chain asset without requiring them to hold a crypto wallet. BENJI’s prospectus says at least 99.5% of assets are allocated to U.S. government securities, cash, and fully collateralized repurchase agreements, not Bitcoin or Ether. The SEC’s no-action relief addresses a core custody issue under rules built for paper certificates by accepting a structure in which Franklin Templeton Investor Services, acting as transfer agent, controls the official records, wallet permissions, recovery process, and smart-contract administration. The filing does not identify which funds will adopt BENJI first, how much they may allocate, or when they will start using it. Still, the move extends tokenization deeper into fund operations, from issuance and recordkeeping to internal cash and collateral management.

U.S. Treasury Secretary Bessent used a series of remarks on Aug. 20 to signal that Washington is not done trying to address pressure in the long end of the Treasury market. One day after the Treasury Department doubled the size of its liquidity-support buybacks for longer-dated bonds, the relief in yields lasted less than 24 hours. By Thursday, the 30-year Treasury yield had climbed back to 5.26%, while the 10-year touched 4.71%. Bessent said the Treasury’s toolkit remains large and indicated that a single long-bond buyback could exceed the newly announced $4 billion level. He argued that yields, especially in the 30-year sector, do not fully reflect U.S. economic fundamentals and described liquidity there as very poor. At the same time, he said President Donald Trump had directed him and Office of Management and Budget Director Russ Vought to lead a new fiscal consolidation plan that could be announced this weekend or early next week. He also reiterated support for a strong-dollar policy, said corporate bond issuance appears almost insensitive to yields because of expected returns from AI investment, and signaled that the U.S. will detail its Iran strategy at a press conference on Aug. 24. According to Chinese state media reports cited in the source material, Bessent said heavier economic pressure on Iran could reduce the likelihood of a large-scale military conflict.

Franklin Templeton is preparing to bring tokenized assets into traditional investment funds. The company said its digital-native products would be allowed for use in traditional funds for the first time after approval from the U.S. Securities and Exchange Commission. According to a public SEC letter and information disclosed by company executives, the firm plans to use its tokenized money market fund in ETFs and mutual funds. It could be held as a fund asset or used as collateral.

The U.S. Securities and Exchange Commission has released a 402-page crypto asset regulation proposal that would create two exemptions for new crypto projects to issue tokens to users and investors without violating securities laws, according to the article. The proposal keeps anti-fraud rules in place and bars "bad actors" from participating, while requiring issuers relying on either exemption to provide principle-based narrative disclosures. The piece argues that the framework marks a return to the SEC’s original disclosure-first mandate: regulators should make sure investors receive the facts they need, then let them decide for themselves rather than passing judgment on the quality of the investment. It places the proposal in the historical context of Franklin D. Roosevelt’s 1933 message to Congress, Louis Brandeis’s view that disclosure works as a market disinfectant, and former SEC Chair Joseph Kennedy’s explanation that the agency was not created to approve securities. The article also points to Blockworks’ Token Transparency Framework, launched in June 2025, where 75 protocols have filed standardized disclosures and 69 exchanges, custodians and asset managers have joined an alliance that uses those filings in due diligence.