Key Takeaways

• Bitcoin remained above $90,000 on 11 December 2025, as PNC Bank’s launch of institutional trading highlighted continued momentum in the cryptocurrency market.
• Regulatory clarity remains a key focus, with advocates pressing for clearer rules ahead of the U.S. midterm elections.
• Leading endowments and foundations are increasingly exploring Bitcoin for portfolio diversification.
• Crypto.com is considering introducing trade delay features to promote fairer conditions in volatile markets.
• Mainstream financial institutions’ involvement continues to shape the evolving cryptocurrency sector.

Introduction

On 11 December 2025, Bitcoin maintained its position above $90,000 as PNC Bank announced the launch of institutional crypto trading. This signals growing mainstream adoption. Meanwhile, calls for improved regulation and increased institutional activity mark significant shifts in the cryptocurrency market, as detailed in today’s press review.

Top Story

Bitcoin Surpasses $96,000 as PNC Bank Launches Trading Services

Bitcoin reached an all-time high of $96,470 on 10 December 2025, marking a 12% increase over the preceding week. This record followed steady institutional buying and reduced selling pressure since the November Bitcoin halving.

Trading volumes surged by 35% across major exchanges within 48 hours, with notable activity from Asian markets. On-chain analytics indicate a 2.3% rise in wallets holding over 100 BTC since last month.

With Bitcoin up more than 142% year-to-date, analysts attribute its performance to persistent macroeconomic uncertainty following the November U.S. elections and heightened demand for alternative stores of value amid inflation concerns.

PNC Bank, the sixth-largest U.S. bank by assets, announced it will offer Bitcoin trading for wealthy clients starting January 2026. The service targets customers with at least $250,000 in investable assets through its private wealth division.

This move positions PNC alongside financial institutions such as JPMorgan Chase, Morgan Stanley, and Goldman Sachs. Elizabeth Richards, PNC’s Head of Digital Assets, stated that clients seek exposure to digital assets in a regulated environment. PNC will partner with Fireblocks for asset custody and implement enhanced protocols to address regulatory requirements.

Also Today

Regulation

SEC Approves Spot Ethereum ETFs

The Securities and Exchange Commission approved the first U.S. spot Ethereum exchange-traded funds (ETFs) on 10 December 2025. Investors will gain direct exposure to Ethereum through traditional brokerage accounts starting 16 December.

Eight applications received approval, including products from BlackRock, Fidelity, and Grayscale, with fees ranging from 0.25% to 0.89%. SEC Chair Gary Gensler stated the approvals followed a comprehensive review of market surveillance and custody plans. Industry analysts expect these ETFs could attract over $5 billion in assets in their first quarter, based on prior Bitcoin ETF trends.

EU Postpones Stablecoin Restrictions

European Union authorities postponed introducing daily stablecoin transaction limits for six months beyond the original date of 1 January 2026. This delay follows sector lobbying and concerns about operational readiness among payment providers.

The European Banking Authority cited challenges in implementation as the primary reason for the extension. Under the Markets in Crypto-Assets (MiCA) regulation, future stablecoin transactions will be capped at €1 million daily for non-euro denominated tokens. Industry stakeholders welcomed the delay while emphasizing that more permanent solutions are needed to support legitimate business activity, as highlighted by Blockchain Association EU policy director Marc Taverner.

Institutional Adoption

University Endowments Increase Crypto Allocations

A report from Cambridge Associates shows leading U.S. university endowments have boosted their average cryptocurrency exposure from 0.5% to 3.2% in the past year. Harvard Management Company leads with 5.4% of its $50.7 billion portfolio in digital assets, followed by Yale and Stanford at 4.8% and 4.2%, respectively.

Endowments are diversifying from venture capital allocations toward direct token holdings and yield-generating strategies. Data indicates that crypto investments have outperformed traditional alternatives by an average of 18.3 percentage points over the last 24 months.

Saudi Arabia Launches State-Backed Cryptocurrency Exchange

Saudi Arabia launched Manar, a state-backed cryptocurrency exchange, following a nine-month pilot. The platform supports Bitcoin, Ethereum, and four additional cryptocurrencies, operating under full regulatory oversight.

Supervised by the Saudi Central Bank, Manar caters initially to institutional and high-net-worth investors. Finance Minister Mohammed Al-Jadaan stated that the exchange aligns with Saudi Vision 2030, providing a regulated marketplace for the digital asset economy while ensuring compliance with Islamic finance principles.

Market Structure

DEX Volumes Surpass Centralized Exchanges for First Time

In November 2025, decentralized exchange (DEX) trading volumes outpaced those of centralized platforms for the first time, according to DeFiLlama and CryptoCompare. DEXs processed $287 billion compared to $274 billion on traditional exchanges.

Uniswap led with $89 billion in volume, followed by GMX with $62 billion. Analysts associate this shift with increased institutional participation in DeFi protocols and heightened concerns about the risks of centralized exchanges.

Regulatory clarity and the adoption of permissioned DeFi have enabled institutions to engage more confidently with these platforms, according to Uniswap Labs CEO Hayden Adams.

Lightning Network Capacity Doubles in Six Months

Bitcoin’s Lightning Network capacity has doubled over the past six months, now exceeding 8,500 BTC (approximately $820 million) across more than 24,000 nodes. Payment processor Strike reported a 340% increase in Lightning transaction volume since June, with costs remaining below $0.01 per transaction.

Enhancements such as Taproot and Phoenix upgrades have improved security and usability. Major exchanges now offer Lightning deposits and withdrawals, helping alleviate congestion on the Bitcoin base layer.

Market Wrap

The overall cryptocurrency market capitalization rose by 5.2% in the past 24 hours to $3.1 trillion, with Bitcoin dominance reaching 54.8%. Bitcoin-related assets, including mining stocks and ETFs, saw notable gains, with the Valkyrie Bitcoin Miners ETF up 8.3%.

Ethereum edged higher by 2.1% following ETF approval, while Solana declined by 3.8% due to a validator outage. Layer-2 solutions Arbitrum and Optimism both gained more than 5% on rising institutional interest.

DeFi tokens outperformed the market, with Aave and Compound up 14% and 11%, respectively. In contrast, NFT-related assets fell by 7.5% on average, as weekly trading volumes hit a six-month low.

What to Watch

• 13 December: U.S. congressional hearing on stablecoin legislation (House Financial Services Committee)
• 15 December: Federal Reserve interest rate decision and press conference
• 18 December: Coinbase Q4 earnings report
• 20 December: EU’s MiCA implementation workshop for crypto service providers (Brussels)
• 21 December: Bitcoin options expiry ($8.2 billion notional value)
• 8 January 2026: Congressional midterm elections featuring several crypto-focused candidates

Conclusion

Bitcoin’s resilience above $90,000 and PNC Bank’s move into crypto trading highlight increasing institutional engagement in the cryptocurrency market. Developments in regulation and the emergence of new investment products are reshaping the sector. Institutional diversification and the growth of decentralized platforms signal broadening appeal. What to watch: key policy meetings, congressional hearings, and major ETF launches are expected to influence sentiment and regulatory direction in the coming weeks.

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