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Institutions remain bullish on crypto ahead of spot Ethereum ETFs’ expected launch next week. Spot Bitcoin ETFs enjoyed their heaviest daily inflow of the past 30 days, with $422 million flowing into the sector in one day.

Arca is jumping on the tokenized treasuries fund bandwagon. The digital asset investment manager is launching tokenized shares in the Arca U.S. Treasury Fund in partnership with Securitize. The move comes as an increasing number of legacy institutions are exploring real-world asset tokenization, including Goldman Sachs.

Grayscale is looking to back the burgeoning web3 AI industry. Grayscale unveiled a decentralized AI fund offering exposure to five cryptocurrencies positioned at the forefront of the sector.

Plus, Hermetica launched a BTC-backed stablecoin on Bitcoin, StarkWare validates zero-knowledge proof on Bitcoin testnet, Veda’s unlocks multi-chain yield for DeFi protocols, and Trump plans to launch a fourth NFT collection.

✍️ In today’s newsletter:

Spot Bitcoin ETF inflows propel crypto markets
Arca tokenizes shares in U.S treasuries fund
On-chain RWAs poised to surge
Grayscale unveils decentralized AI fund
Hermetica launches Ethena-inspired Bitcoin stablecoin
StarkWare aims to bring zero-knowledge to Bitcoin
Veda rolls out multi-chain yield infrastructure
Trump says fourth NFT collection is coming

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📈Crypto Markets Rally as Spot Bitcoin ETFs Attract Major Inflows

Digital assets continue to post bullish momentum, with Bitcoin up 3%, Ethereum gaining 2%, and Polkadot jumping 4%. The move coincides with spot Bitcoin ETFs hosting daily inflows of $422 million.

💵Arca Taps Securitize To List Tokenized U.S. Treasury Fund

Arca is looking to capitalize on the surging adoption of on-chain treasury assets by teaming up with Securitize to tokenize shares in the Arca U.S. Treasury Fund. The news comes as tokenized treasuries have grown 140% to $1.86 billion in 2024 so far. Securitize also facilitates access to BlackRock’s surging BUIDL fund.

👀Real World Asset Sector Outperforms on Growing TradFi Tokenization Effort

Real-world asset tokenization is poised to enjoy soaring growth. Goldman Sachs said it is planning to launch three tokenization projects before the end of the year, while MakerDAO is readying to inject $1 billion into the sector.

🤖Grayscale Launches Decentralized AI Fund

Grayscale, a digital asset investment manager boasting $17 billion in assets, is jumping on the web3 AI bandwagon. Grayscale launched a new fund offering exposure to five web3 projects positioning themselves at the forefront of decentralized AI, spanning Near, Filecoin, Livepper, Bittensor, and Render.

💲Hermetica Launches Bitcoin-backed Synthetic Dollar

Hermetica launched a BTC-backed stablecoin on the Bitcoin network. USDh takes inspiration from Ethena’s USDe stablecoin, offering a 12% yield derived from funding fees accrued from BTC short positions hedged against spot Bitcoin holdings.

👨‍💻StarkWare Verifies Zero-Knowledge Proof on Bitcoin’s Test Network

StarkWare verified the first zero-knowledge proof on a Bitcoin testnet using its new STARK verifier. The milestone was made possible by OP_CAT, a controversial codebase abandoned by Satoshi Nakamoto currently under exploration on the Bitcoin Signet testnet.

⬆️Veda Introduces Multi-Chain Yield Infrastructure After TVL Roars Past $1B

Veda, a yield abstraction layer, claims to have pioneered infrastructure enabling DeFi protocols to source yields from multiple networks simultaneously. The move comes less than one week after Veda’s TVL broke above $1 billion less than four months after its launch.

🆕Trump to Launch Fourth NFT Collection Because ‘The People Want Him To’

The former U.S. president and Republican presidential nominee, Donald Trump, plans to launch a fourth set of NFT trading cards despite the previous collections performing poorly on secondary markets. In an interview with Bloomberg, Trump also doubled down on his desire for the United States to lead the global web3 industry, warning that China is well positioned to dominate the sector.

🌍 ELSEWHERE

'It's a Bitcoin Play': Mark Cuban Says Silicon Valley's Embrace of Trump Revolves Around Crypto (CoinDesk)
Hong Kong Monetary Authority Unveils New Regulations For Fiat-Pegged Stablecoins (CoinGape)
Staking and in-kind redemptions for crypto ETFs can be reconsidered says SEC Commissioner (CryptoSlate)
LI.FI Drained of More Than $10 Million Via Wallets With Infinite Approval Settings (Unchained Crypto)