This week, the crypto market has seen multiple major developments, with institutional applications and regulatory policies both heating up.

Nasdaq and CME Group jointly launched the "Nasdaq-CME Crypto Index," integrating the existing crypto asset benchmark indices from the two exchanges. This move marks a further deepening of cooperation among traditional financial giants in the digital asset space.

There are also new moves from U.S. regulators. Republican senators are accelerating the voting process for the crypto legislation draft, although the Agriculture Committee is still pushing forward with a bipartisan version, and cross-party consensus remains uncertain. According to multiple sources, the Supreme Court is expected to issue related rulings on January 14.

In terms of institutional applications, the world's largest custodian bank BNY announced the launch of a "tokenized deposit" service for institutional investors. The plan is to mirror deposit balances on a private blockchain, aiming to accelerate transaction settlement and improve capital efficiency—viewed by industry insiders as a significant breakthrough in combining traditional finance with on-chain assets.

These actions reflect how, from policy support to financial infrastructure, digital assets are gradually integrating into the mainstream financial system.