The Zcash price (ZEC) rose by 10% as whales accumulated, fee plans were discussed, and Grayscale sparked ETF speculation.

On 12 Dec 2025, the DTCC received no-action relief from the SEC for a three-year blockchain-based asset tokenization pilot scheduled to begin in the second half of 2026. The program will cover tokenized equities, ETFs, corporate bonds and US Treasuries from major US indexes, while DTCC remains the central record-keeper and tests atomic and near real-time settlement models on permissioned blockchains.

On Thursday, Ark Invest purchased 124,427 Robinhood shares worth about $15.4 million across its ARKK and ARKW funds as the stock fell 9.1%. The firm also added 13,700 shares of its ARKB bitcoin ETF, roughly $417,000, and earlier on Dec. 2 bought $7.5 million of Coinbase for ARKK.

On December 11, 2025, the US Commodity Futures Trading Commission issued staff no-action letters to Polymarket US, LedgerX, PredictIt, and Gemini Titan. The relief is conditional, requiring full collateralization of all contracts and publication of time-and-sales data to limit enforcement risk.

Coinbase plans to unveil a prediction market and an in-house tokenized equities product at a Dec. 17 showcase. The sector has seen rapid growth, with Kalshi and Polymarket's combined monthly volume hitting $7.7 billion in November, and Gemini and Crypto.com outlining new initiatives. Coinbase shares closed down 2.2% at $269.02 on Thursday.

On a Tuesday in late 2025, Poland's government re-approved the same crypto-asset regulation bill that President Karol Nawrocki vetoed, intensifying an institutional clash over how to implement MiCA-style rules. Prime Minister Donald Tusk and key ministers argue the law is needed to counter security threats, while critics warn its strict licensing, KNF powers and penalties could damage a market serving around three million users and exceed EU requirements. The deadlock leaves Poland as the only EU state without national MiCA-aligned crypto rules ahead of the July 1, 2026 compliance date.

Arthur Hayes Sees Ethereum Price at $20,000 by Next US Election: Stablecoins, Layer-2, Whales, and Treasuries in Focus.

On Friday, Dec. 12, around 39,000 BTC options worth about $3.6 billion expire, alongside 247,000 ETH contracts totaling $768 million, for roughly $4.3 billion in notional. BTC's put/call stands near 1.1 with max pain around $90,000, while ETH's is 1.24 with max pain at $3,100; spot prices remain range-bound.