The Cathie Wood-led investment firm bought 4,486,560 Circle shares for its Innovation, Next Generation Internet, and Fintech Innovation funds.
The social media company filed an S-1 document with the Securities and Exchange Commission on Thursday.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Bitcoin could climb to $125,000 in June if a soft U.S. jobs report fuels expectations of early Fed rate cuts, according to Bitfinex analysts.
JPMorgan Chase & Co. (NYSE: JPM), a top-tier financial institution with a sprawling global presence, is expanding its crypto offerings led by Bitcoin (BTC). According to a report by Bloomberg, JPMorgan, which manages more than $4.3 trillion in customers’ assets, plans to consider Bitcoin and other digital assets when assessing clients’ overall net worth. The …
NYSE Arca, an arm of the New York Stock Exchange, submitted paperwork with the Securities and Exchange Commission on Tuesday.
Truth Social, a social media platform backed by the United States President Donald Trump, has filed for a spot Bitcoin (BTC) exchange-traded fund (ETF) with the U.S. SEC. According to a recent SEC filing, the Truth Social seeks to list and trade shares of the Truth Social Bitcoin ETF on the NYSE Arca Exchange. The …
NYSE Arca has filed for an exchange-traded fund named after President Trump's right-leaning social media platform.
K33 also announced an initial purchase of 10 BTC ($1 million) on Tuesday after raising $6.2 million to launch its bitcoin treasury strategy.
In-kind redemptions enable investors to redeem their stake in the fund using the underlying asset — bitcoin, in this case — rather than cash.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
The usually dominant global Bitcoin-based funds slumped to $8 million in net outflows as a 34-day streak for BlackRock's IBIT came to an end.
Recent trends in the Bitcoin ETFs market reveal a significant shift in investor sentiment, with funds flowing into BTC exchange-traded funds while gold-backed funds experience notable outflows. Bitcoin ETFs Emerge As Preferred Safe Haven According to a Bloomberg report, US Bitcoin ETFs have attracted over $9 billion in inflows in the past five weeks, primarily driven by BlackRock Inc.’s iShares Bitcoin Trust ETF (IBIT). In contrast, gold-backed funds have seen outflows exceeding $2.8 billion during the same time frame. Related Reading: Can XRP Market Cap Touch $1.5 Trillion? Analyst Reveals The Math Behind It This divergence in investor behavior comes as easing trade tensions have diminished demand for traditional safe havens like gold. Meanwhile, Bitcoin is increasingly being recognized as a viable alternative store of value amid growing concerns about US fiscal stability. Furthermore, the market’s leading cryptocurrency reached a record high of $111,980, buoyed by favorable regulatory developments and rising macroeconomic uncertainty. Although gold remains up more than 25% this year, it has retreated from its recent peaks, currently trading approximately $190 below its all-time high. BTC’s Advantages Over Gold Analysts suggest that this rotation towards Bitcoin ETFs indicates a growing acceptance of the cryptocurrency as a legitimate hedge within investment portfolios. Christopher Wood, global equity strategist at Jefferies, expressed optimism for both gold and Bitcoin, noting their effectiveness as hedges against currency debasement in the G7 nations. However, skeptics argue that Bitcoin’s notorious volatility still undermines its position as a true safe haven. Historical instances of macroeconomic shocks have shown Bitcoin falling sharply alongside other risk assets. Yet, some experts believe that Bitcoin’s decentralized nature gives it an advantage over gold in times of financial system risks. Geoff Kendrick, global head of digital assets research at Standard Chartered, highlighted Bitcoin’s dual role as a hedge against both private sector risks, such as the collapse of Silicon Valley Bank in 2023, and government-related concerns, including the stability of the US Treasury. Kendrick pointed out that recent threats to Federal Reserve (Fed) independence, alongside tariff escalations and broader concerns about US policy credibility, further bolster Bitcoin’s appeal. Related Reading: $400K Bitcoin? Analyst Says It’s Not A Dream—It’s ‘Coded’ In addition to these factors, Bitcoin appears to be shedding its previous reputation as merely a tech-adjacent risk asset. Dilin Wu, a research strategist at Pepperstone, noted that Bitcoin’s intraday correlation with major indices like the Nasdaq, as well as with the dollar and gold, has significantly decreased. The backdrop of growing fiscal strain has intensified the discourse surrounding these assets. Moody’s recently downgraded the US from its last triple-A credit rating, citing concerns over ballooning deficits and national debt. This downgrade aligns the US with other ratings agencies, including Fitch and S&P Global, which already rate the country below the top tier. Despite the recent surge in Bitcoin’s popularity, gold continues to outperform on a year-to-date basis, boasting gains of about 25% compared to Bitcoin’s rise of approximately 15%. Featured image from DALL-E, chart from TradingView.com
IBIT fell 1.32% to $59.99 on Thursday.
As IBIT attracts institutional capital, Strategy sees one of its lowest volatility readings, dampening speculative interest.
Spot Bitcoin ETFs recorded $358.65 million in net outflows on Thursday, marking the largest daily exit for the ETFs since March 11.
Both ether and bitcoin products saw net inflows despite a drop in underlying asset prices, the report said.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
The firm, which appears to be growing increasingly interested in digital assets, has $14.8 billion in assets under management
BlackRock's IBIT has dominated those flows and has witnessed no outflows since April 9 in a 33-day run of its own.
As Bitcoin (BTC) continues to trade near its recent all-time high (ATH) of $111,980, activity on major crypto exchanges suggests that institutional investors may be strengthening their BTC holdings. Most notably, Coinbase – the leading US-based crypto exchange – recorded a net outflow of 7,883 BTC, raising speculation about renewed institutional demand and a potential continuation of the rally. Coinbase Sees 7,883 Bitcoin Outflow According to a recent CryptoQuant Quicktake post by contributor burakkemeci, Coinbase experienced a daily outflow of 8,742 BTC on May 26. After accounting for BTC deposits, the net outflow stood at 7,883 BTC – marking the third-largest single-day BTC outflow from the exchange in the past month. For the uninitiated, daily BTC outflow refers to the total amount of Bitcoin withdrawn from an exchange within a day, while net outflow is the difference between BTC withdrawn and deposited – showing the actual net movement of funds. A positive net outflow means more BTC left the exchange than entered, often signaling accumulation. Related Reading: Bitcoin Near ATH, But Long-Term Holders Aren’t Selling – More Upside Ahead? Historically, large BTC outflows from Coinbase are often followed by institutional announcements or spot Bitcoin exchange-traded fund (ETF) inflows. Since all US-listed spot Bitcoin ETFs – except Fidelity’s – source their BTC from Coinbase, the scale of this transaction suggests potential ETF involvement or a corporate acquisition. One likely candidate is Strategy, led by Michael Saylor. The company recently disclosed a purchase of 7,390 BTC, bringing its total holdings to 576,230 BTC. Saylor has also hinted at another large acquisition, although only time will tell whether the latest Coinbase outflows are connected to the firm. Supporting this institutional narrative is the Coinbase Premium Index, which has remained consistently positive over the past month. This metric reflects stronger buying pressure from US-based investors, often linked to institutional demand. The analyst concluded: These outflows reflect sustained demand from U.S.-based institutions. If this appetite continues, it may lay the groundwork for another leg up in Bitcoin’s price. Especially when fueled by ETF inflows, such moves can lead to sharp price breaks and new highs. New BTC ATH Soon? At the time of writing, Bitcoin is trading at $109,589, just 1.9% below its all-time high. However, multiple on-chain and technical indicators suggest that BTC could soon break into uncharted territory. Related Reading: Bitcoin Rebound Signals Healthier Bull Market Without Overheating, Analyst Says CryptoQuant contributor ibrahimcosar recently noted that Bitcoin may be targeting the $112,000 mark after forming a double bottom pattern on the hourly chart. Meanwhile, the Bitcoin Spot Taker CVD (Cumulative Volume Delta) has flipped back to positive, signaling bullish momentum. Moreover, on-chain metrics show that holders are not rushing to sell, even while sitting on significant unrealized gains, suggesting belief in further price appreciation. At press time, BTC trades at $109,589, down 0.3% in the past 24 hours. Featured image from Unsplash, charts from CryptoQuant and TradingView.com
After a slight weekend slump that saw Bitcoin (BTC) dip to $106,600, the leading cryptocurrency has recovered most of its losses and is currently trading close to the $110,000 level. With bullish momentum building, several crypto analysts now believe that BTC may be on track to hit a new all-time high (ATH) in the coming days. Bitcoin To Surge To $112,000? Analyst Says Yes According to a recent CryptoQuant Quicktake post by contributor ibrahimcosar, Bitcoin is forming a classic bullish pattern on the hourly chart – the double bottom. The analyst described this setup as “one of the strongest reversal signals” in technical analysis. Related Reading: Bitcoin Rebound Signals Healthier Bull Market Without Overheating, Analyst Says Ibrahimcosar explained that this pattern signals a weakening of bearish pressure, with buyers poised to regain control of the market. The first bottom of this formation was observed on May 23 at $106,800, followed by a second low on May 25 at $106,600. For the uninitiated, the double bottom is a bullish reversal chart pattern that forms after a downtrend, characterized by two distinct lows at a similar level with a moderate peak – called neckline – in between. According to the CryptoQuant contributor, the current neckline is around $109,000. At the time of writing, Bitcoin is hovering just above this neckline, confirming the breakout. Importantly, the breakout was accompanied by a surge in trading volume, which analysts interpret as a sign of robust bullish momentum. If $109,000 holds as support, then price levels beyond $112,000 could be on the horizon. The analyst explained in their Quicktake post: Double bottoms are where the market says: ‘We’ve sold enough.’ When buyers defend the second bottom, it sends a message: Now it’s our turn. But remember, not every pattern plays out. Know your risk, make your decision. Fellow analyst Ali Martinez echoed this sentiment in a recent post on X, sharing the following BTC hourly chart that highlights a breakout from the recent downtrend. According to Martinez, Bitcoin is now targeting the $110,000 level and potentially higher. Good Days Ahead For BTC Following a rough first quarter in 2025, Bitcoin has shown significant recovery, surging from a local bottom of $74,508 on April 6 to nearly $110,000. This recent rally has revived bullish sentiment across the market. Related Reading: Technical Analyst Predicts Bitcoin Price Blow Off Top To $325,000 – The Timeline Will Shock You Fueling the optimism are strong inflows into spot Bitcoin exchange-traded funds (ETFs), indicating renewed institutional interest. Meanwhile, Bitcoin’s open interest recently hit a fresh all-time high, reinforcing expectations of continued price momentum. However, not all indicators are aligned. Bitcoin whales – large holders of BTC – have shown mixed behavior, with some accumulating while others appear to be taking profits. At press time, BTC trades at $109,998, up 2.2% in the past 24 hours. Featured image from Unsplash, charts from CryptoQuant, X, and Tradingview.com
The funds recorded their second-best week for inflows since the ETFs began trading in early 2024, data shows.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
U.S. spot Bitcoin and Ethereum ETFs attracted net inflows of $934.8 million and $110.5 million, respectively, on Thursday.
US spot bitcoin ETFs reported a daily trading volume of $7.64 billion on Wednesday, the highest since late February.
IBIT is up to nearly $9 billion worth of net inflows in 2025, having attracted $6.5 billion in the past month alone.
Aside from the approval of spot bitcoin ETFs, it marks the most significant regulatory milestone in crypto's history, Matt Hougan argued.
With over $1 trillion in assets under management the firm's investment in a spot Bitcoin ETF is mostly notable because of how small it is.