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💰 900+ Institutions Reveal Bitcoin ETF Holdings

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BTC bounced after 929 U.S. institutions, banks, and investment firms revealed spot Bitcoin ETF share holdings exceeding $100 million. The markets also responded bullishly as U.S. inflation sank to a three-year low.

The Solana community has been celebrating the network’s revenue surpassing that of Ethereum for the first time. However, the milestone indicates Solana users have been paying high fees amid heavy network congestion.

Plus, Blast delays airdrop but increases allocation, Circle wants to legally domicile in the U.S. ahead of IPO plans, and Ethereum NFTs are tanking as Blur’s third airdrop season comes to a close.

✍️ In today’s newsletter:

  • U.S. institutions bought $10.7B in ETF shares in Q1
  • Markets bounce on bullish CPI data
  • Solana overtakes Ethereum by daily revenue
  • Blast postpones airdrop
  • Circle wants U.S. domicile for IPO
  • Ethereum NFTs crater as Blur Season 3 ends

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📈 Markets in the last 24 hrs:

TickerValue24h
Bitcoin$66,1517.44 %
Ethereum$3,017 4.68 %
Gold 1st Future$2,389 1.50 %
S&P 5005308.15 1.17 %
Arch Web32.09 7.62 %
Learn more about Arch Indices ,[object Object]%

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Check out our latest podcast with Haseeb Qureshi, managing director at Dragonfly Capital. And watch our explainer on using DeFi to borrow crypto.

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🚀Bitcoin Price Bounces After Institutions Reveal $10.7B In Q1 Spot ETF Buys

the-defiant

Bitcoin bulls were on parade after more than 900 U.S. institutions disclosed spot Bitcoin ETF share holdings exceeding $100 million as of the end of Q1. The firms’ holdings equated to $10.7 billion combined, with some experts predicting that will just be the tip of the iceberg as institutions allocate larger sums to the new asset class.

📈Crypto Markets Bounce Back as Core U.S Inflation Hits 3-Year Low

The markets were also buoyed by positive inflation data, with the U.S. Consumer Price Index tagging a three-year low. BTC rallied 6% in 24 hours, while ETH bounced 3%, SOL gained 8%. However, the recently surging meme stock sector is pulling back, with GameStop down 35% and AMC dropping 30%.

💸Solana Surpasses Ethereum By Revenue After Parabolic Fee Spike

The Solana community has been buzzing after the network beat out Ethereum by daily revenue for the first time. However, the milestone indicates Solana users a paying high fees amid persistent network congestion, with leading Ethereum Layer 2s currently offering far cheaper transactions than Solana.

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🪂️Blast Delays Token Launch But Increases Airdrop Allocation

Blast, the controversial Layer 2 network, has pushed its long-awaited airdrop back from May until June 26. However, the project is seeking to quell community backlash with increased airdrop allocations.

✈️Circle to Relocate Legal Domicile from Ireland to U.S.

Circle, the issuer of the second-largest stablecoin, USDC, is seeking to relocate its domicile from Ireland to the United States. The move comes as Circle is readying for an initial public offering after filing for an IPO in January.

📉Ethereum NFTs Dip as Blur Season 3 Winds Down

Many once-popular NFT collections on Ethereum are suffering heavy losses as the third airdrop season for Blur, the top NFT marketplace by trade volume, comes to a close.

🌍 ELSEWHERE

  • U.S. Treasury Says It Wants to Better Money Laundering Regulations Around Crypto, Other Illicit Finance (CoinDesk)
  • PancakeSwap offers to pay off interface fees for Uniswap users (The Block)
  • India's SEBI open to oversight of crypto trade, in contrast to Reserve Bank (Reuters)
  • $20 Million Exploited From Sonne Finance on Optimism (Unchained)

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