Crypto Daily is our column tracking crypto market trends, offering timely insights and valuable updates to keep you informed.
Crypto News
Bitcoin Spot ETFs Recorded $246M Inflows Last Week, Extending Two-Week Streak
Bitcoin spot ETFs attracted $246 million in net inflows last week, marking their second consecutive week of gains. BlackRock’s IBIT led with $434 million in inflows, pushing its cumulative total to $58.74 billion.
Grayscale’s Bitcoin Mini Trust added $33.29 million, while Ark Invest’s ARKB and Bitwise’s BITB faced sizable outflows. Overall, Bitcoin spot ETFs now hold $144.05 billion in assets, representing 6.48% of Bitcoin’s market value. On the other hand, ethereum spot ETFs saw a net outflow of $788 million during the same period.
Trump Family Adds $1.3 Billion of Crypto Wealth in Span of Weeks
It took just a few eventful weeks for President Donald Trump’s family to rack up about $1.3 billion from two crypto ventures, each less than a year old.
The haul from crypto firm World Liberty Financial and separate mining operation American Bitcoin Corp. shows how still-nascent projects are already translating into tangible wealth for the first family. The sums rival the values of long-held golf and resort properties that had been synonymous with the Trumps, whose fortune now stands at $7.7 billion, according to the Bloomberg Billionaires Index.
The president’s two eldest sons, Donald Trump Jr. and Eric Trump, still share the role of executive vice president at the Trump Organization, but are increasingly the faces of the family’s growing crypto portfolio.
El Salvador Is Buying 21 BTC For Bitcoin Day, Adds Over $2 Million To Apex Crypto Reserves
El Salvador purchased a total of 21 Bitcoin BTC/USD on Sunday to celebrate the fourth anniversary of making the leading cryptocurrency legal tender in the country.
President Nayib Bukele confirmed the news on X, stating, "Buying 21 bitcoin for Bitcoin Day," as he attached a snippet of the country's official Bitcoin treasury tracker.
The latest purchase of 21 BTC, worth $2.3 million, boosted the nation's Bitcoin holdings to 6,313.18 BTC, valued at $701.77 million at current prices. While El Salvador maintains its “one Bitcoin a day” approach, the latest buy increased its weekly total to 28 BTC.
EasyJet Founder Adds Crypto Trading to His Cut-Price Empire
He pioneered low-cost aviation in Europe three decades ago with EasyJet Plc, growing it into one of the region’s largest airlines. Now Stelios Haji-Ioannou is trying to slash fees in a new industry: cryptocurrency trading.
The billionaire’s EasyGroup Ltd is set to launch EasyBitcoin this month after agreeing a brand licensing deal with a regulated trading platform called Uphold. EasyGroup will help fund the marketing, he said.
Crypto Market Slides Into Fear as Traders Pull Back From Risky Altcoins
Data provider Santiment said traders are retreating from obscure altcoins and refocusing on major assets such as Bitcoin (BTC), Ether (ETH), and XRP.
“A heavy focus on large-caps can indicate a more cautious or ‘risk-off’ sentiment among traders,” Santiment noted in a Saturday report.
The shift comes amid growing anticipation around the possibility of an altcoin season.
However, analysts at Bitfinex suggest that renewed momentum in lower-cap assets may not materialize until more crypto ETFs come online later this year.
HKMA to Issue Limited Stablecoin Licenses; Major Banks Including HSBC, ICBC (Asia) Eye Approval
The Hong Kong Monetary Authority (HKMA) will grant only a small number of stablecoin licenses in the initial phase, despite 77 institutions showing interest, according to the Hong Kong Economic Journal.
ICBC (Asia) has joined BOC Hong Kong in signaling intent to apply, while HSBC has also expressed interest. Industry insiders expect Standard Chartered and BOC Hong Kong to be among the first likely approvals.
Bitcoin Spot ETF Flow
The overall net outflow of the US Bitcoin spot ETF on Friday was $160.18 million. The total net asset value of Bitcoin spot ETFs is $144.05 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 6.48%.
The Bitcoin spot ETF with the highest net outflow on Sep 5 was iShares Bitcoin Trust ETF , with a net outflow of $63.21 million.
Comments