Crypto Digest 51 (September 2025)
News
BRC-20 indexer upgrade adds Ethereum-like features to Bitcoin
BRC-20, the first token standard built directly on Bitcoin's base layer and indexers, officially launched “BRC2.0” at Bitcoin block height 912690
The update embeds Ethereum Virtual Machine (EVM) functionality directly into the core BRC-20 indexer, allowing developers to deploy Ethereum-style smart contracts on Bitcoin without relying on bridges, oracles, or trusted intermediaries.
This step enables the programmability of custom Bitcoin tokens, effectively turning BRC-20 assets into composable and interoperable instruments that can interact with EVM-compatible chains and scaling layers.
The BRC2.0 update was developed by Best In Slot, a key infrastructure player in the Ordinals ecosystem, in collaboration with the creator of BRC20, operating under the pseudonym Domo, and the Layer 1 Foundation, the governing body overseeing the protocol.
"Bitcoin metaprotocols such as Ordinals, Runes, and BRC20, run on indexers that function like simple calculators,“ said Eril Binari Ezerel, CEO of Best In Slot. ”We have upgraded this calculator-like indexer with EVM, making BRC20 Turing complete."
Google announced the Agent Payments Protocol (AP2)
AP2 is an open protocol to securely initiate and transact agent-led payments across platforms. The protocol can be used as an extension of the Agent2Agent (A2A) protocol and Model Context Protocol (MCP). In concert with industry rules and standards, it establishes a payment-agnostic framework for users, merchants, and payments providers to transact with confidence across all types of payment methods.
AI agents are capable of transacting on behalf of users, which creates a need to establish a common foundation to securely authenticate, validate, and convey an agent’s authority to transact.
The protocol supports different payment types–from credit and debit cards to stablecoins and real-time bank transfers.
To accelerate support for the web3 ecosystem, in collaboration with Coinbase, Ethereum Foundation, MetaMask and other leading organizations, we have extended the core constructs of AP2 and launched the A2A x402 extension, a production-ready solution for agent-based crypto payments.
SEC approved general listing standards for crypto ETFs
The new framework is expected to lead to an explosion in crypto ETF listings in the coming weeks and months.
Under the new framework, crypto ETFs can be fast-tracked if the underlying crypto asset has had a futures market on a regulated exchange for at least six months and meets other standards.
Uniswap's Compact enables seamless crosschain interoperability
The Compact is the first step towards true chain abstraction for all of crypto
The Compact v1, an ownerless ERC-6909 contract for reusable resource locks that enables tokens to be credibly committed in exchange for performing actions across chains.
Common intent systems force solvers to take optimistic execution risks. They front capital for users before source chain finality, exposing themselves to double-spend attacks or reorgs.
Resource locks flip this model.
With The Compact, users commit funds upfront through alternative commitment mechanisms. Solvers get guaranteed capital repayment before they execute. No more finality risk, no more racing to win orderflow, and no more capital inefficiency.
For users, this unlocks true asset-first, chain abstracted UX:
- users think about what they want to do with their assets, not which chain it's sitting on
- every intent is filled before source chain finality, allowing for fills faster than human perception (i.e., basically instant)
Santiment
Cryptocurrencies Tracked by CoinMarketCap
Cryptocurrency ETF Flow last month: -$285,21M
According Defillama, an indexes protocols' TVL is $1,039B.
Top 10 indexes protocols by revenue in September 2025.
CeFi index is the leader by ROI last month.
CeFi index constituent currencies
Mindshare
Sectors & subsectors by Mindshare in September 2025, according Messari
Major Reasons for the Mindshare Spike in the Indexing Blockchain Services Sector:
- Citigroup launched and integrated Citi Token Services with 24/7 USD Clearing, enabling real-time, blockchain-enabled cross-border payments and liquidity management for institutional clients.
- Avalanche’s strategic partnerships with major brands like Toyota and Suntory in Japan promoted tokenization and blockchain integration in mobility and financial services
- EigenCloud partnered with Google Cloud to enhance trust in AI-driven payments using blockchain, supporting cross-chain payments for AI agents and increasing interoperability
- Ethereum’s network hit a record 26.7 million daily transactions, reflecting growing real-world use cases and ecosystem maturity
Major Reasons for the Mindshare Spike in the Synthetic Assets Sub-Sector:
- Kima Network and Equity Block announced a partnership to advance synthetic equities and cross-ecosystem settlement infrastructure. This collaboration enables on-chain synthetic stocks (e.g., $eAAPL, $eTSLA) and supports features like atomic swaps, fiat ramps, and DeFi lending, expanding access to global assets and integrating DeFi with traditional finance
- dYdX Foundation and 21Shares highlighted new initiatives, including RWA perpetuals (starting with synthetic Tesla equity), spot trading, and the launch of the 21Shares dYdX ETP, which provides regulated, physically backed exposure to dYdX
- Multiple campaigns, airdrops, and incentive programs (e.g., Avantis airdrop, Wallchain campaigns, leaderboard rewards) have driven coordinated attention and engagement, boosting mindshare for synthetic asset projects and related protocols
Crypto venture rounds
According funding.decentralised.co
- Total funding: $682.6M (+107% vs prev. 30d)
- Number of Deals (30d): 50 (+61% vs prev. 30d)
- Average Deal Size (30d): $14.8M (+8% vs prev. 30d)
