WisdomTree · 369

Spot Bitcoin ETF's single-day turnover exceeded 5.3 billion US dollars, and BlackRock contributed more than 4.4 billion

In comparison, according to Watcher.Guru monitoring data, today's spot Bitcoin ETF turnover has exceeded 5.3 billion US dollars. Product turnover was as follows: BlackRock (BlackRock) $4.438 billion, Fidelity $438 million, Grayscale $209 million, Bitwise $107 million, ARK Invest $72.895 million, and VanEck $32.842 million. The remaining product turnover was: Morgan Stanley $14.8016 million, Franklin $11.1747 million, Invesco $5.5934 million, Valkyrie $1.525 million, WisdomTree $6001 million, and Hashdex $269 million, respectively. BlackRock accounts for more than 80% of all spot Bitcoin ETFs in a single day and continues to dominate the market.

1d ago

CLARITY ACT HEARING TO BE HEARD TOMORDAY IN NEW YORK

Comparatively, the US House Financial Services Committee will hold a field hearing on July 17 in New York entitled “Building the Future of Finance: How the CLARITY Act” unlocks innovation. Participants include Sarah Aberg, Chief Legal Officer at Nova Labs, Randi Abernethy, Head of Liquidation and Group Risk at Bullish, Ryan Louvar, Chief Legal Officer at WisdomTree, and Jason Somensatto, Director of Policy at Coin Center. The hearing will also discuss H.Res. 111 “Supporting Blockchain Technology and Digital Assets” and H.R. 8957 “The US Reserve Modernization Act.” Note: The CLARITY Act is the Cryptocurrency Market Structure Act

37d ago

Tokenization platform Tradable plans to migrate up to $1 billion in private credit assets from zkSync to Stellar

Comparatively, according to The Block, the tokenization platform Tradable, invested by ParaFi Capital, plans to migrate private credit assets of up to 1 billion US dollars from Ethereum's second-tier zkSync to public chain Stellar. Established in 2024, Tradable provides on-chain infrastructure such as full life cycle management of private equity credit, compliance control, and investor account opening. Last year, it tokenized approximately US$1.7 billion and nearly 30 institutional-level private equity positions on zkSync. The migration aims to provide traditional asset managers with high-quality on-chain private equity investment opportunities by leveraging Stellar's user base and compliance and privacy characteristics in the field of institutional tokenization. Stellar has previously hosted RWA products and stablecoin pilots such as Franklin Templeton, WisdomTree, Ondo Finance, Figure, etc. This article is sponsored by GENG, Build Your Fortune on GENG (https://geng.one)

38d agoburnking

Avalanche launches payment ecosystem alliance, 28 organizations have joined

Comparatively, Avalanche announced the launch of the Avalanche Payments Collective. 28 organizations have joined the alliance to jointly build payment infrastructure on the Avalanche network. The alliance aims to integrate various fields such as settlement, stablecoins, capital infrastructure, foreign exchange, asset management, compliance and global payments. Members include institutions such as Franklin Templeton, VanEck, WisdomTree, Paxos, Kraken, Anchorage Digital, Ethena, and the Wyoming Stable Token Commission.

65d ago

Flatbread, lost 60,000 dollars

The crypto market is facing an even more violent storm. Bitcoin fell below the $60,000 mark for the first time since September 2024. This is also the first time since Trump won the election at the end of 2024 and the crypto market began a wild model. According to Binance data, at 1:12 a.m. on June 6, Beijing time, Bitcoin dropped to a minimum of 59,786 US dollars, a 24-hour decline of 6.21%. Recall that in October 2025, Bitcoin hit an all-time high of $126,080, and the market cheered. However, after just 4 days, a flash crash ended the carnival. Over the next half of the year, Bitcoin basically fluctuated sideways in the range of $65,000 to $80,000. Now falling below $60,000 means that Bitcoin has fallen by more than 51% from its all-time high, and the cumulative decline since 2026 is close to 30%. Strategy's unexpected sell-off: Fracture of Faith The most direct trigger for this round of decline came from Strategy (formerly MicroStrategy), Bitcoin's largest corporate holder. On June 1, the company revealed that it had sold part of its Bitcoin holdings. Although the $2.5 million sell-off amount was insignificant compared to its holdings of over $50 billion, it was of great symbolic significance. Founder Michael Saylor made a loud statement in 2022 that “we don't sell; we only buy and hold”. Faith in this thing, once cracks appear, can easily be magnified. Immediately after that, liquidity problems began to deepen. Spot Bitcoin ETFs were once the core driving force behind Bitcoin's previous bull market, but now they are a source of selling pressure. In May, the US spot Bitcoin ETF recorded a net outflow of US$2.43 billion; just four days before June, another US$1.4 billion was withdrawn. BlackRock's IBIT product alone had an outflow of 1.2 billion US dollars between June 1 and 4. The European market was also not spared, with WisdomTree's physical Bitcoin product outflow exceeding 7.3 million euros in a single week. Matt Hougan, chief investment officer at Bitwise, said in a report this week: “Who else wants cryptocurrencies when the Nasdaq 100 Index is up 43% a year?” Investors are rotating their capital into artificial intelligence and technology stocks, and crypto assets have lost their appeal as the first choice for high-growth transactions. SpaceX's upcoming IPO plans to raise $86 billion, with a valuation close to $1.8 trillion, and also suck large amounts of retail capital out of the crypto market. The decline triggered a chain stampede in the derivatives market. According to CoinGlass data, within 24 hours around June 4, about 1.8 billion US dollars of cryptocurrency positions in the entire market were forcibly closed. Of these, more than 1.5 billion US dollars were long positions, and Bitcoin bulls alone contributed 800 million US dollars. This was one of the biggest liquidations of the year. Changes in the macro environment: Non-farm payrolls data has become a new trigger. The US non-farm payrolls data released on June 5 was stronger than expected, and market concerns about keeping interest rates high are once again heating up. The 10-year US Treasury yield is rising, and risk assets are under full pressure. Bitcoin was unable to stand alone in this macro context, and the final blow below $60,000 came just after that. Looking at technical indicators, Bitcoin's RSI has fallen to 15.75, the lowest level since February this year. Bitcoin finally stabilized after falling from nearly $90,000 to around $60,000 at the time. Currently, the market is indeed extremely oversold, but overselling itself does not mean an immediate rebound — it remains to be seen whether market sentiment has bottomed out. Regulatory uncertainty has added another layer of pressure. US lawmakers are still discussing the Clarity Act. Institutional investors are generally on the sidelines, and no one wants to rashly increase positions until the future is clear. Matt Hougan said the market can digest bad news, but it can't digest the ongoing uncertainty, which is currently affecting market sentiment across the industry. Looking back, Bitcoin is less than 8 months from last year's high of $126,000 to now. The “bull market never ends” atmosphere at the time, but looking back now, it seems like a long time ago. The market is just that. When it rises, everything is a reason; when it falls, everything is bad. Today's Bitcoin, in Hougan's words, has become a “contrarian bet”. It's not that investing against the trend can't make money, but it requires patience, needs to be able to withstand fluctuations, and requires your own judgment on fundamentals. For those who have been in this market for a long time, this kind of scene is no stranger. Bitcoin comes like this every few years...

78d agoWendy#Strategy #original #Bitcoin #BEARISH #Market topics #starters

US Bitcoin ETF net outflows for 6 consecutive days, and the cumulative net inflow in 2026 has narrowed to $536 million

Comparative news, according to official data, the US spot Bitcoin ETF has recorded a net outflow for 6 consecutive trading days, with a cumulative outflow of 1.55 billion US dollars. Among them, there was a net outflow of $105.2 million in a single day last Friday, BlackRock's IBIT outflow of $68.9 million, and Fidelity's FBTC outflow of $36.3 million. Affected by this, the cumulative net inflow of Bitcoin ETFs since 2026 has shrunk to $536 million, approaching the critical point of annual net outflow. In terms of market background, institutional market maker Jane Street reduced its Bitcoin ETF holdings by about 70% in the first quarter, and Goldman Sachs also reduced its holdings by 10%. However, there are some highlights. IBIT still has net inflows of 2.7 billion US dollars so far this year, but far less than the level of 25 billion US dollars for the full year of 2025; the Morgan Stanley Bitcoin Trust ETF (MSBT) launched on April 8 has attracted net inflows of US$264 million, surpassing Invesco and WisdomTree products. In terms of other dynamics, the US spot Ethereum ETF had a net outflow year to date. A number of crypto ETFs originally supported by Trump's Truth Social and dominated by asset management company Yorkville America applied for withdrawal this Tuesday. The flow of funds in Bitcoin ETFs is seen as an important measure of institutional demand and the entry of new capital into the crypto market. As of press time, Bitcoin is priced at around $77,376.

89d ago

Global Long-Term Debt Breakdown: Financial “Ponzi Schemes” Revealed Collectively

Author: Claude, Shenchao TechFlow Original title: Global Long-Term Debt Breakdown: The Financial Illusion in the Era of Low Interest Rates Is Collapsing Deep Wave Guide: Long-term bonds in developed countries are falling collectively. Market repricing is no longer a country's fiscal accident, but the reality that high debt, high deficits, and higher interest rates coexist for a long time. As debt continues to grow faster than economic growth, energy shocks reignite inflation, and the central bank's room for interest rate cuts is being compressed, the “low interest rate rolling model” that has supported financing in developed countries over the past 10 years is cracking. Over the past week, UK 30-year Treasury yields rose to 5.82%, the highest since 1998; Japan's 30-year Treasury yield hit 4%, the highest since the breed was established in 1999; US 30-year Treasury yields rose 5% for the first time since 2007; and French 10-year Treasury yields stood at 3.8%, also returning to a high level since 2007. This sell-off has dragged down global stock markets. This week's G7 finance ministers meeting will focus on this round of bond sell-off. According to Ajay Rajadhyaksha of Barclays's fixed income, foreign exchange and commodities research department, in a May 18 report, “It's not just that long-term bonds were sold off last week; they have broken through the range everywhere.” Its core judgment is that debt is growing faster than economic growth, the inflation path is getting worse, and there is a lack of political will for fiscal reform. Even if long-term debt has already declined, there is not enough reason to prolong it. Priya Misra, portfolio manager at J.P. Morgan Asset Management, issued a similar warning: “Long-term interest rates rise simultaneously around the world and tend to reinforce each other, and expectations of the Federal Reserve's interest rate hike are entering the market narrative.” The multi-treasury bond market broke down simultaneously, and the “fiscal Ponzi scheme” collectively revealed that the decline in the single-country bond market can usually be attributed to domestic inflation, finance, politics, or central bank communication, but this time Britain, Japan, the US, and France broke down almost simultaneously, indicating that the market is no longer just about local risks. The commonalities are clear. Major developed economies generally have debt ratios above 100% of GDP, and fiscal deficits are not covered by nominal growth. The US deficit is about $2 trillion, equivalent to 6.5% of GDP, with a nominal increase of about 4.5% to 5%; France's nominal GDP as of the March quarter of 2026 increased 2.2% year-on-year, with a deficit of about 5%; and the UK deficit was over 4%. This is the core contradiction pointed to by the “fiscal Ponzi scheme”. The government continues to rely on new debt and rolling financing to maintain expenses, yet the debt is expanding faster than the economic growth rate, and interest costs have become expensive again. As long as this mix does not change, long-term bonds will require higher yields to attract buyers. New spending is still under pressure. Last year in The Hague, NATO agreed to raise the defense spending target to 5% of GDP by 2035; European defense spending achieved double-digit growth in percentage terms last year and could continue for ten years; the US government applied to Congress for $1.5 trillion in defense funding for the next fiscal year. These expenses were not offset by corresponding cuts. The blockade of the Strait of Hormuz, and the impact on oil prices ignited inflationary debt and deficits, which were already fragile, and the impact on energy prices further tightened policy space. The blockade of the Strait of Hormuz is a direct trigger for this round of bond market turmoil. The blockade of the world's most important oil transportation channel continues to push up oil prices and reignite inflation expectations. Barclays's basic assumption is that the average price of Brent crude oil will reach $100 in 2026, up 50% from the average in 2025. This will directly worsen the outlook for inflation, reduce the room for the central bank to cut interest rates, and may even force the central bank to raise interest rates. Higher interest rates mean that interest payments on existing debt continue to rise, while rising interest expenses make it harder to reduce the deficit. This is more like a fiscal ratchet. For every step forward, the government has less room to maneuver, and bond investors demand higher compensation. Priya Misra, managing director of J.P. Morgan Chase, put it bluntly: “Unless the straits are reopened, the overall interest rate range has moved upward.” Looking at short-term data, the US 2-year yield once rose to 4.09%, the highest since February 2025; the 10-year yield was 4.58%, a nearly one-year high; overall US Treasury bonds have recorded negative returns so far this year, while the annual increase was close to 2% at the end of February. The inflation narrative dominates the market, and term premiums are being repriced Federated Hermes fixed income strategist and portfolio manager Karen Manna's judgment: “We're seeing a real...

95d agoburnking#Treasury bonds #inflationary #Interest rate cut

Illustrating Arc's 104 Web3 Business Partners: Circle Builds a “New Clearing Network” for the Stablecoin Era

Comparing news, the Web3 asset data platform RootData has sorted out Arc's 104 partners, covering the six core sectors of asset issuance, infrastructure, developer tools, trading, financial services, and payments. Compared to most public chains that first develop a developer ecosystem and then look for commercialization scenarios, Arc's path is clearly more biased towards actual financial circulation networks. At the asset issuance layer, stablecoin issuers such as AllUnity, BDACS, Bitso/Juno, and Stablecorp, and tokenized asset players such as Centrifuge, Securitize, and WisdomTree entered the market, indicating that Arc prioritized solving the “on-chain asset supply” problem and bringing dollars, bonds, and securities to the chain. At the infrastructure layer, partners such as Blockdaemon, Chainalysis, Elliptic, QuickNode, and DRPC undertake node services, compliance analysis, and on-chain data support. This means Arc is preparing for institutional funding rather than the typical Crypto chain's “grow first, then comply”. At the developer tool layer, Axelar, Wormhole, Chainlink, MetaMask, Fireblocks, Privy, Alchemy, LayerZero, TRM Labs, etc. are concentrated, essentially reducing institutional and developer migration costs and putting capital, wallets, cross-chain, and compliance tools directly in place. At the transaction level, institutions such as Coinbase, Bybit, Kraken, Robinhood, Galaxy Digital, and B2C2 are responsible for secondary market liquidity and price discovery. The payment layer is accessed on a large scale by Visa, Mastercard, PhotonPay, Nuvei, EBANX, and Ramp. In the financial services layer, BlackRock, Goldman Sachs, HSBC, State Street, Aave, Maple Finance, Morpho, BitGo, etc. appeared simultaneously, which means Arc has begun to open up traditional banking, on-chain lending, and escrow systems. On the face of it, Arc is a new public chain, but judging from the ecological structure, it will act as the new financial layer in the Circle stablecoin era, directly emphasizing USDC gas fees, sub-second final settlement, compliance privacy, and native CCTP integration. The goal is to directly cut into the real money flow and try to become SWIFT+ Stripe+ DTCC. Related Collection [Arc Web3 Partner Network Collection (Continuously Updated)] Crypto projects actively showcase partner networks, and have become a key way to enhance transparency and market trust. According to reports, RootData welcomes claims from Web3 project parties and continues to track and open more project business relationship disclosure portals. The platform has continuously published multiple crypto project ecological maps and nominated Web3 ecosystem partners to serve upstream customers such as Visa, Mastercard, and Coinbase. If you wish to nominate your project in the future Ecosystem Map, please fill out the “RootData 2026 Industry Ecosystem Mapping” form to complement your key customers and partners.

99d ago

From 0 to 2.6 billion US dollars, the one that bought BlackRock BUIDL is not Wall Street

Source: Tiger Research Authors: Henry Kim and Ryan Yoon Compiled and organized by BitPushNewsBlackRock (BlackRock)'s BUIDL has become an indispensable asset in the digital asset field. However, its biggest buyers are not traditional institutions, but DeFi (decentralized finance). Core Summary The on-chain significance of BUIDL is not that BlackRock issued a token, but rather that Ethena, Ondo, Frax, and Spark used BUIDL as a building block (building block) for their dollar products, turning an institutional fund into an underlying asset in the DeFi supply chain. The agreement chose BUIDL not for yield, but because it simultaneously satisfies three conditions: clear legal claims, on-chain composability, and existing compliance. No other asset can provide all three at the same time. The supply chain doesn't stop at the first tier. As BUIDL is processed into USDTB and further transformed into dollar products for specific ecosystems, demand for underlying assets grows with each new ecosystem. BUIDL has revealed a new tokenized asset distribution channel. Its customers aren't found through traditional sales channels, but through DeFi protocols — a customer group that doesn't exist in traditional finance. If this channel is not recognized, the next BUIDL will not appear. From institutional products to protocol infrastructure, BUIDL was initially designed for institutions: providing cash and US Treasury exposure, eligible investors only, and a minimum subscription amount of $5 million. However, the first actors were DeFi protocols rather than traditional institutions. They didn't buy just for profit, but for the following three reasons: Legal Clarity: Issued under Rule 506 (c), investors' rights are protected by US securities laws. Agreements can clearly explain asset attributes and redemption processes in legal terms. Lower compliance costs: After the GENIUS Act, reserve design became very complicated. BUIDL already complies with institutional-level collateral standards. The burden of compliance is transferred, and there is no need to build from scratch. As regulations are tightened, this advantage is becoming more obvious. On-chain composability: Can be used as protocol reserves, exchange collateral, or the bottom layer for ecosystem dollar products. Since no other asset at the time could satisfy these three points at the same time, BUIDL became the default base asset. The key to how DeFi protocols use BUIDL is not the fact that the protocol holds BUIDL, but rather the specific role that BUIDL plays in each protocol's architecture. 2.1. Ethena (USdTB): Funding rate buffer Ethena's flagship product is synthetic dollar USDE and its pledged version, susDE. USdE's revenue sources include: Funding rates for collateral assets to reward perpetual contracts (through the Delta-neutral strategy). The second source of revenue - funding rates, comes from the Delta-neutral strategy. USdE holds short futures positions equal in size to collateral to offset price risk. When demand from the bulls dominates, the bulls pay capital fees to the bears. Ethena, as the bear side, directly collects this portion of revenue. Risk occurs when funding rates turn negative. In a bear market, demand from bears may exceed that of bulls, causing bears to pay capital fees. For Ethena, revenue became cost. If this continues, insurance funds will dry up, and USDe's dollar pegs will come under pressure. Ethena needed an asset that could absorb that pressure. USdTB filled this role, with core reserves of BUIDL and USDC. The purpose is not to increase earnings, but rather as a defensive buffer to ensure Ethena's overall structural stability during periods of negative funding rates. 2.2. Ondo (OUSG): As an intermediate input, BUIDLOUSG (Ondo US Treasury Bond Fund) is a tokenized fund that brings institutional-grade US debt exposure to the chain. Direct access to institutional money market funds like BlackRock BUIDL or Franklin Templeton FOBXX usually requires a multi-million dollar threshold and qualified investor status. OUSG lowered this threshold and acted as an on-chain intermediary to make these assets available for DeFi...

108d agoWendy#BUIDL #Ethena #Frax #Ondo #RWA #tokenize #Tokenization topics #depths #compiling #viewpoints #BlackRock

WisdomTree's net crypto ETP inflow of $137 million in the first quarter, AUM increased by more than 30% year over year

Comparatively, according to The Block, asset management company WisdomTree revealed that its crypto exchange-traded products (ETPs) recorded a net inflow of US$137 million, a significant improvement over the net outflow of US$89 million in the same period in 2025. By the end of the first quarter, WisdomTree's overall asset management scale (AUM) had risen to US$152.6 billion, an increase of more than 30% over the previous year, with strong capital inflows to products in the US and European markets being the main driving force. The scale of its crypto ETP asset management grew to around $1.8 billion in the first three months, up 15% year over year. However, the crypto ETP AUM of around $2.2 billion at the beginning of the period shrunk by about $596 million during the quarter due to falling digital asset prices. WisdomTree also said that it has launched new crypto ETP products that track Bitcoin, Ethereum, XRP, and Solana in the quarter, and continues to promote the real-world asset (RWA) tokenization layout. Related products have been deployed on various chains such as Ethereum, Arbitrum, Avalanche, Base, and Optimism, as well as the Stellar network.

113d ago