The Daily Crypto Brief!
Crypto ETFs Are Having a Moment.
GM readers! Let’s dive into the recent major headlines from crypto.
Bitcoin ETFs See $200M Surge for Third Day Running—Momentum Explodes
In the last three trading days, U.S. spot Bitcoin ETFs pulled in over $800 million, averaging about 1,980 BTC ($216.6 million) per day. Total net inflows have now reached nearly $49.9 billion.
Public companies are also buying big. In June alone, listed firms bought around 65,000 BTC—worth over $7 billion—according to Bitcoin Treasuries. What started with MicroStrategy has now become a growing trend in corporate strategy.
Truth Social Files for Blue Chip Cryptocurrency ETF
Trump Media’s Truth Social has applied to launch a new crypto investment fund (ETF). This fund mainly focuses on Bitcoin, but it also includes other digital currencies like Solana and Cronos.
Right now, ETFs that include smaller cryptocurrencies (called altcoins) are in a bit of a legal gray area. One company, Grayscale, recently got approval from the SEC, but trading was put on hold in an unusual way. So, it’s still uncertain if Truth Social’s fund will be allowed to trade on official markets
Shenzhen Issues Warning on Stablecoin Scams as Hong Kong Advances Crypto Plans
Officials in Shenzhen warned people on Monday to watch out for scams involving stablecoins, a type of cryptocurrency. They said there’s been a rise in illegal activities like fraud, gambling, pyramid schemes, and money laundering connected to these coins. People were asked to report any suspicious activity to the police—and could even get a reward for doing so.
BlackRock’s Bitcoin ETF Smashes Through 700,000 BTC Mark
BlackRock’s iShares Bitcoin Trust (IBIT) now holds over 700,000 Bitcoin, according to data from Glassnode. This happened just a year and a half after the fund launched in January 2024. At today’s prices, that’s nearly $75.6 billion worth of Bitcoin, based on CoinGecko’s numbers.
This Bitcoin fund has become one of BlackRock’s top money-makers. It now earns more revenue than some of the company’s other big funds, like the iShares Core S&P 500 ETF and the iShares Russell 2000 ETF.
Crypto Conmen Jailed in UK for $2M Scam Disguised as Consultancy
Two people in the UK have been sent to jail for running a fake crypto consulting business that scammed people out of $2 million. Authorities say they’re cracking down on financial crimes that mix traditional finance with newer digital platforms like crypto. The two ran their scam from 2017 to 2019 using fake companies like CCX Capital and Astaria Group, stealing $2.03 million.
That’s all for today. Stay tuned for more updates from crypto world!
