Is this the end of Bitcoin ETF outflows

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GM. Some days, crypto is a fruit basket, and also you by no means know if you happen to’re getting candy or bitter.

Take a chunk out of those and discover out:

🍍 Bitcoin ETF inflows break the outflow streak;

🔗 Crypto giants be a part of for funds;

🍋 Gemini AI expands to India, Coinbase Europe fined + extra

Have you ever ever opened a fridge, discovered nothing you wished, closed the fridge… then opened it once more 5 minutes lates?

Sure, mind, thanks for checking – possibly a snack magically appeared 😃👍

That’s form of how crypto has felt these days. Besides this time, a snack did present up.

After virtually a complete week of cash leaving Bitcoin ETFs, the outflow streak lastly broke. As a substitute, the ETFs had $239.9M in inflows in a single day.

When traders purchase spot ETFs, the issuers must buy precise Bitcoin, which tightens provide and may raise costs.

For a lot of the previous week, merchants had been groaning about regular outflows and weak sentiment. Now, with recent cash coming in, the tone throughout crypto Twitter has shifted – all of the sudden individuals are questioning if that is the beginning of one other run.

And here is one thing else: one survey reveals that conventional traders are more and more open to crypto publicity via ETFs. In different phrases, unusual portfolio managers see it as a brand new asset class price holding alongside shares and bonds.

Supply: Eric Balchunas

So, what now? If the ETF inflows preserve coming, we’d get away of this leftovers section and see some actual motion.

If not, effectively… preserve that microwave useful.

🥝 Memecoin harvest

Recent meme pumps so wild, even your grandma’s asking for the contract deal with 😳

Information as of 09:45 AM EST.

Take a look at these memecoins and lots extra right here.

Ever tried sending cash throughout completely different blockchains?

It is like attempting to separate the invoice when half the desk needs to pay money, somebody’s counting change, one other’s scanning a random QR code, and that one buddy swears they’re going to “get you subsequent time.”

Only a headache… however for blockchains, that headache would possibly lastly have a remedy.

A crew of crypto heavyweights – Fireblocks, Solana Basis, Polygon Labs, Stellar, TON Basis, Mysten Labs (Sui), and Monad Basis – joined forces to type one thing known as the Blockchain Funds Consortium.

Supply: Blockchain Funds Consortium

The thought is to make stablecoins work throughout blockchains as seamlessly as tapping your card on the retailer.

And here is why it issues:

Stablecoins are already huge. They’ve dealt with over $27.6T in transactions this 12 months – that is greater than Visa and Mastercard mixed.

However proper now, each blockchain is its personal little kingdom with its personal guidelines. Sending USDC from Ethereum to Solana appears like switching airways mid-flight: new terminals, new baggage guidelines, new charges. ✈️

The Consortium needs to repair that by setting open requirements for funds that really speak to one another.