Crypto Assets Market Dynamics and Regulatory Trends

Important Data

BlackRock's IBIT fund has become the fastest-growing ETF in history, surpassing $80 billion in size in just 374 days, currently ranking as the 21st largest ETF in the world. The Bitcoin spot ETF has seen net inflows for 7 consecutive days, with a net inflow of $1.03 billion yesterday. The Ethereum spot ETF has also experienced net inflows for 6 consecutive days, with a net inflow of $205 million yesterday.

Regulatory Dynamics

Tiansheng Capital plans to apply for a stablecoin license in Hong Kong, intending to use its stablecoin for art trading and the settlement of Crypto Assets. Coinbase sues Oregon state officials, demanding the disclosure of public records related to sudden changes in encryption regulatory policies. Two U.S. congressmen launch "Anti-Crypto Assets Corruption Week" activities, calling for the halt of several Crypto Assets-related bills.

Project Progress

The head of the Linea project hinted that an announcement related to the token generation event (TGE) will be released later this month. The SOON Foundation has released a recovery plan, proposing to destroy 3% of the total supply of tokens. A trading platform, Alpha, will launch the Chainbase (C) token on July 14. Tether will stop supporting USDT for five major networks, including Kusama, EOS, and Algorand, starting September 1. The re-staking protocol Inception based on EigenLayer has announced its termination of operations.

Institutional Dynamics

A listed company has purchased $200 million worth of Bitcoin and related derivatives. Another listed company announced a private placement of $200 million in common stock and convertible notes for the purpose of acquiring SOL. A listed company purchased 10,000 ETH through over-the-counter trading from the Ethereum Foundation, and within 6 hours, increased its holdings by another 21,487 ETH, with a total position currently showing an unrealized profit of nearly $80 million.

Financing News

According to reports, the stablecoin infrastructure startup Zerohash will raise about $100 million, with a valuation close to $1 billion, led by a certain publicly listed online brokerage.