The Block
Fidelity’s FBTC spot bitcoin ETF hit record daily inflows of $473.4 million on Thursday.FBTC’s inflows were nearly double those of BlackRock’s normally dominant IBIT ETF but lower than IBIT’s overall daily inflow record of $788 million.Meanwhile, Grayscale’s higher fee converted GBTC fund surpassed $10 billion in total outflows on Thursday.
Daily trading volume across centralized exchanges has risen to a high not seen since late 2021.This comes on the back of excitement around the spot bitcoin ETF launches.
BlackRock plans to buy its own spot bitcoin ETFs as well as other bitcoin ETFs with its Global Allocation Fund, which holds assets close to $18 billion.
The nine recently approved U.S. spot bitcoin exchange-traded funds are slated to surpass GBTC’s holdings today.
Quick Take A group of South Korean investors in Terra-Luna released a statement advocating for Do Kwon to be sent for investigation in the U.S., where they claimed punishment for financial crime would be heavier.
Coinbase Institutional’s David Han believes “the value potential for many AI tokens may be overstated.”Han cites a lack of demand-side drivers in the short and medium term.
Quick Take: Optimism Foundation announced it is privately selling roughly 19.5 million governance tokens. Neither the terms of the private sale nor the identity of the buyer have been disclosed. The tokens will be subject to a lockup period of two years.
Quick Take: Ethereum Layer 2 Base is expected to support the Dencun upgrade from day one, including EIP-4844, to reduce network fees. The team predicted a reduction of over ten times on the network following the upgrade.
Quick Take: U.S. prosecutors will continue to seek Do Kwon’s extraditions, while legal experts reportedly expect lighter punishment in South Korea.
Quick Take If the central bank were to adopt a CBDC, it would be done through the banking system, said Federal Reserve Chair Jerome Powell, who testified on Thursday in front of the Senate Banking Committee. Republicans have voiced concerns that a CBDC could open the door for government surveillance of peoples’ transactions.
