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Today in crypto, spot Bitcoin ETFs recorded their highest daily net inflows since early May, crypto tokenization platform Securitize shares rose on its public debut and FBI Director Kash Patel disclosed a stake in Bitcoin treasury company Strategy months after the federal reporting deadline.
US-listed spot Bitcoin exchange-traded funds (ETFs) recorded their first daily net inflow above $200 million since early May, snapping weeks of sustained withdrawals.
The funds attracted $221.7 million in net inflows on Thursday, according to SoSoValue data, ending a 10-day streak of net outflows that totaled more than $2.7 billion.
The rebound follows one of the weakest stretches for US spot Bitcoin ETFs this year, with the funds posting a record $4.5 billion in net outflows in June.
Daily flows in US-listed spot Bitcoin ETFs. Source: SoSoValue
The inflows came as Bitcoin reclaimed the $61,000 level after briefly falling below $59,000, with some investors, including Bitwise chief investment officer Matt Hougan, suggesting the market could be nearing a bottom. Crypto market sentiment on Friday was measured at an “extreme fear” reading by the Fear & Greed Index from Alternative.me.
Tokenization platform Securitize rallied on its New York Stock Exchange debut on Thursday, as it brought tokenized versions of its shares to two blockchains.
The company, which is backed by BlackRock and Morgan Stanley, began trading on the NYSE under the ticker SECZ on Thursday after merging with a Cantor Fitzgerald-backed special-purpose acquisition company to take it public.
Securitize said Thursday that it simultaneously launched tokenized versions of its shares on the Avalanche and Solana blockchains, which will be available to eligible US investors on its platform.
It marks the first time a newly public company has also offered tokenized stocks, an area of crypto technology that has quickly gained attention among major institutions drawn to the idea that it can bring deeper liquidity and longer trading hours.
Securitize has carved out a lead in the tokenization space for institutions. It partnered with the NYSE in March to create tokenized assets for the exchange’s upcoming tokenized securities platform.
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