What Happened Last Week in Crypto (8/3- 8/9) 401(k) Investors Access Alternative Assets: Last Thursday, President Donald Trump signed an executive order allowing participants in 401(k) and other defined contribution plans to access alternative assets, including private equity, real estate, and digital assets. This move opens the door for broader diversification and introduces crypto as a credible option for retirement planning. (1) BTC soars past $120K: Bitcoin gained momentum amid rising institutional inflows and Trump’s executive order exploring the inclusion of crypto in 401(k) plans. Ripple-SEC Lawsuit Resolved: On August 7, Ripple Labs and the U.S. Securities and Exchange Commission (SEC) jointly filed to dismiss their respective appeals, bringing a definitive end to a legal battle that began in December 2020. The SEC had originally alleged that Ripple conducted unregistered securities sales through its XRP token to institutional investors. As part of the resolution, Ripple agreed to pay a $125 million civil penalty, marking a significant milestone in the evolving regulatory landscape for digital assets. (2) Galaxy Digital’s Tokenized Future? Galaxy Digital, currently listed on Nasdaq, has announced plans to explore tokenizing its GLXY shares. This news comes after the company entered into a digital transfer agency agreement with Superstate Services, an SEC-registered transfer agent. (3) Ivy Leagues are all in on Bitcoin: Recent SEC filings reveal that both Harvard and Brown have significantly increased their exposure to Bitcoin through Exchange Traded Products (ETPs). This strategic move underscores a growing trend: elite academic institutions are not just observing the crypto space—they're actively participating. The filings signal a broader wave of institutional adoption, as more legacy players begin to view digital assets like bitcoin as a legitimate component of diversified investment portfolios. (4) *The above referenced discussions are noteworthy activities that happened during the week in crypto markets. Discussions should not be regarded as any type of trading recommendation, or as a signal about any past, current or future trading activity in any fund or strategy, by Franklin Templeton and its affiliates. 1. Source: “Fact Sheet: President Donald J. Trump Democratizes Access to Alternative Assets for 401 (k) Investors.” The White House. August 7, 2025. 2. Source: “SEC Ends Lawsuit Against Ripple, Company to Pay $125 Million Fine. U.S. News. August 8, 2025. 3. Source: “Galaxy Digital explores tokenizing its own GLXY shares, stock falls on Q2 earnings”. August 5, 2025. 4. Source: “Harvard and Brown Universities Boost Bitcoin ETF Holdings Significantly.” Coinpaper. August 9, 2025.