● Cryptocurrency funds saw a net inflow of $7.05 billion in May, setting a historical high
According to Wu Said, data from Morningstar shows that cryptocurrency funds attracted a net inflow of $7.05 billion in May, with total assets reaching $167 billion, setting a historical high. In contrast, Lipper data indicates that global equity funds saw a net outflow of $5.9 billion, and gold funds experienced a net outflow of $678 million for the first time in 15 months.
According to Deep Tide TechFlow, on June 9, CryptoQuant analyst Axel Adler Jr disclosed that the average spot trading volume on centralized exchanges has dropped to the level of October 2020. The lack of large sell-offs in the cryptocurrency spot market and reduced on-chain activity indicate that the market has shifted to a holding (HODL) mode.
● Strategy increases holdings by 1,045 Bitcoins, average price $105,426
According to Foresight News, Strategy purchased 1,045 Bitcoins between June 2 and June 8, with an average price of $105,426.
● ProShares and Bitwise submit ETF applications tracking Circle stocks
According to Odaily Planet Daily, ProShares and Bitwise have submitted ETF applications tracking Circle stocks to the U.S. SEC, namely ProShares Ultra CRCL ETF and Bitwise CRCL Option Income Strategy ETF. Trading codes are pending and are expected to take effect on August 20.
● SEC Chairman: Developing 'innovation exemption' policy for DeFi platforms
According to Golden Finance, SEC Chairman Paul Atkins stated at a cryptocurrency roundtable that the SEC is developing an 'innovation exemption' policy for DeFi platforms. Atkins has asked staff to study modifications to rules that would provide regulatory exemptions for on-chain financial systems, allowing entities under SEC jurisdiction to rapidly launch on-chain products.
Hester Peirce, head of the SEC’s cryptocurrency working group, emphasized that publishers should not be held liable for the use of code by others, but centralized entities cannot evade regulation by using the 'decentralized' label. Currently, SEC Republican commissioners hold a 3:1 majority, pushing for more crypto-friendly policies. Atkins stated that blockchain technology enables financial transactions without intermediaries, and the SEC should not obstruct this innovation.
According to BlockBeats, on June 10, the U.S. Department of Justice requested the federal circuit court of appeals to extend the stay of enforcement on the lower court's ruling regarding tariff invalidation made on May 28. The U.S. government claims that this ruling undermines the President's ability to execute foreign policy. The federal circuit court can rule at any time whether to stay the order during the appeal process, which may last for months. The U.S. government stated that if the appellate court lifts the stay, it will appeal to the U.S. Supreme Court.
● Binance releases its thirty-first proof of reserves, with a BTC reserve ratio of 102.13%
Binance released its thirty-first proof of reserves (snapshot date June 1). User net BTC balance is 593,411.811 Bitcoins, with a BTC reserve ratio of 102.13%; user net ETH balance is 5,337,110.337 ETH, with an ETH reserve ratio of 100%; user net USDT balance is 28,836,102,363.753 USDT, with a USDT reserve ratio of 101.52%.
