🏆Bitcoin Funds Populate ETF Leaderboard As BTC Tests Record Highs

GM Defiers!

Four Bitcoin ETFs now rank among the top 11 spot commodity exchange-traded funds by assets under management, with BlackRock’s IBIT coming third with a $10 billion AUM. The milestone comes as BTC traded within 5% of its all-time high yesterday.

In other news, sophisticated investors are farming liquid restaking tokens for yield, the number of Ethereum Layer 2 users is at new all-time highs, Runestones is airdropping to Bitcoin ordinals users, and Tron’s fee revenue is at a record level.

Plus, Three Arrows Capital’s founders have resumed spruiking their “Supercycle” thesis on social media.

✍️ In today’s newsletter:

Bitcoin funds climb ETF rankings
Institutions farm LRTs
L2beat host record users
Ordinals hodlers qualify for airdrop
Tron’s record revenue
3AC says Supercycle theory is still valid

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📈 Markets in the last 24 hrs:

Ticker	Value	24h
Bitcoin	$62,7541.10	%
Ethereum	$3,467 1.33	%
Gold 1st Future	$2,087 2.01	%
S&P 500	5137.08 0.80	%
Arch Web	32.86	-2.35 %
Learn more about Arch Indices		%

🎬 WATCH

Check out our latest episode of Crypto With Cami recapping all of last week’s hottest headlines. Also watch our podcast with Avery Ching, the co-founder and CTO of Aptos, who discusses the roadmap and controversy surrounding the Layer 1 network developed by former Facebook engineers.

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📈 Bitcoin Funds Climb Commodity ETF Rankings As BlackRock’s AUM Surpasses $10B

Bitcoin ETFs are populating the spot commodity exchange-traded fund leaderboard, with BlackRock’s IBIT ranking third behind the top two gold ETFs and Fidelity’s FBTC coming in fifth behind the top silver ETF. The milestone comes as the crypto markets continue to rally, with BTC trading within 5% of its all-time price yesterday.

🧑‍🌾 Institutional Investors Are Farming Liquid Restaking Tokens For Yield

In an exclusive interview with The Defiant, the COO of MEV Capital, a delta-neutral crypto asset manager, said it is heavily engaged in liquid restaking farming due to overwhelming demand from clients. The MEV Capital executive said LRTs can be mobilized in DeFi to generate significant yields while also expecting to qualify for upcoming airdrops.

👥 Active Users On Ethereum Layer 2s Surges To New Highs

The number of active users on Ethereum L2s surged to a record high of 3.5 million last week. The milestone was propelled by record activity on ZkSync Era and Linea, but has come at the expense of a spike in Layer 2 transaction fees.

🪂 Airdrops Arrive On Bitcoin With Ordinals Project Runestones

Runestones is conducting an airdrop for Bitcoin Ordinals users, with more than 112,000 wallets holding inscriptions from at least three collections qualifying for the token. The launch of Runestones coincided with the largest Bitcoin block ever mined on March 3.

💵 Tron Hits All-time High of $2M In Daily Fees

Tron’s daily protocol revenue posted a record high of $2M late last week. Tron is a leading network by stablecoin volume, positioning it as the top network by daily active users.

🌀 Infamous Three Arrows Founders Return to Peddle ‘Supercycle’ Narrative

Kyle Davies and Su Zhu, the founders of Three Arrows Capital, the failed crypto hedge fund, are active again on social media. The duo returned to X to again peddle their infamous “Supercycle” narrative in response to the recent surge in digital asset prices.

🌍 ELSEWHERE

DeFi poised for major comeback amid Bitcoin’s rally, predict Bernstein analysts (The Block)
Crypto Stocks Surge as Bitcoin Approaches All-Time Highs (CoinDesk)
Worldcoin userbase nears 4 million amid global privacy probes (CryptoSlate)