Black Swan 39

Hold $BNB

Bitcoin and Ether ETF funds recorded the second largest inflow day in history
BlackRock's Bitcoin and Ether funds are the biggest beneficiaries of the capital inflow on Thursday.
Investors in Bitcoin and Ether poured money into their cryptocurrency investment funds on Thursday, marking the second largest daily inflow since their inception.
According to Farside Investors, the inflow into Bitcoin spot exchange-traded funds in the U.S. totaled $1.17 billion, of which $448 million came from BlackRock's iShares Bitcoin Trust (IBIT) and $324 million came from Fidelity's Wise Origin Bitcoin Fund. This near-record inflow occurred as Bitcoin surpassed the $113,800 mark, setting a new high and continuing to rise through Friday.
This inflow ranks second only to the $1.37 billion recorded on November 7, 2024, when Donald Trump won the U.S. presidential election.
Meanwhile, Ether spot ETFs saw a total net inflow of $383.1 million on Thursday, marking the second highest net inflow in history for these funds.
The majority of the inflow came from BlackRock's iShares Ethereum Trust (ETHA), with a net inflow of $300.9 million - the highest daily inflow ever recorded.
In a post on Friday X, NovaDius Wealth Management President Nate Geraci said the near-record inflow occurred despite the reluctance of long-time financial advisors to offer Bitcoin or Ether spot ETFs.
Geraci added: "Major platforms like Vanguard are still controlling these ETFs."

Cryptocurrency funds see $1.9 billion inflow as Bitcoin recovers
With the inflow recorded in the new week, cryptocurrency ETPs have reached a new record for inflows this year of $13.2 billion.

Cryptocurrency investment products continue their multi-week growth streak as Bitcoin trades near new highs and Ether soars above $2,800 for the first time since February.
Global cryptocurrency exchange-traded products (ETPs) recorded $1.9 billion in inflows in the trading week ending Friday, bringing the nine-week inflow streak to $12.9 billion, CoinShares reported on Monday.

With new money flowing in, cryptocurrency ETPs have set a historical record for year-to-date (YTD) inflows of $13.2 billion, according to James Butterfill, director of research at CoinShares.

Total assets under management (AUM) in cryptocurrency ETPs increased to $179 billion compared to $175.9 billion from the previous week.
Bitcoin returns to lead inflows
After two weeks of small outflows, Bitcoin

investment products rebounded to see a significant increase, topping last week's chart with $1.3 billion in inflows. Short-Bitcoin products also recorded modest inflows of $3.7 million, although their AUM remains low at $96 million.

The second-ranking ETP by inflows maintained a positive trend with an additional $583 million last week. According to Butterfill of CoinShares, the inflow marks the largest increase for ETH products since February. #IsraelIranConflict

This is what happened in cryptocurrency today

1. Co-founder of Strategy Michael Saylor signals he will buy Bitcoin amid tensions in the Middle East
2. Vietnam has placed digital assets under regulatory supervision.
3. Cryptocurrency market sentiment remains strong amid the ongoing Israel-Iran conflict.
#CryptoToday

7 Solana ETF candidates filed S-1 applications, but many 'controversies' with the SEC lie ahead

ETF analyst James Seyffart stated that all updated S-1 filings "I believe include language on staking".

Seven Solana ETF candidates submitted S-1 reports to the U.S. Securities and Exchange Commission (SEC) on June 13; however, Bloomberg's ETF analyst James Seyffart doubts that approval will happen as early as next week. "I think there needs to be back-and-forth communication between the SEC and the issuing entities to work out the details, so I doubt that. If anyone remembers the launch of the Bitcoin ETF, there were *MANY* filings submitted in the months leading up to the launch", Seyffart said in a post on Friday. U.S.-based spot Bitcoin ETFs launched in January 2024, more than a decade after Gemini cryptocurrency exchange co-founders Tyler and Cameron Winklevoss submitted the first application for a spot Bitcoin ETF to the SEC in 2013.
"Staking language" has been included in all filings
On June 13, Fidelity Investments submitted its initial S-1 registration report for its Solana ETF product at $147.33, while 21Shares, Franklin Templeton, Grayscale Investments, Bitwise Investments, and Canary Capital submitted amended S-1s.
VanEck — the first U.S. company to file for a spot Solana ETF in June 2024

Seyffart stated, "I believe they all include staking language." While Seyffart agreed with the perspective of a user on X that "lessons learned" from previous approvals could help expedite the process. #Solana⁩

This is what happened in cryptocurrency today

1. Blockchain $TON went down for a short time
2. The French authorities have charged 25 individuals linked to a series of kidnappings and attempted kidnappings related to cryptocurrency
3. Co-founder of Strategy Michael Saylor has raised his hand to introduce the Joe Rogan Experience.
#CryptoToday

U.S. Court Freezes $57 Million USDC Allegedly Linked to LIBRA Scandal
A federal court in Manhattan has frozen approximately $57 million worth of USDC believed to be related to the controversial memecoin Libra.

A U.S. federal court has frozen approximately $57.65 million worth of stablecoin USDC in a class-action lawsuit related to the controversial memecoin Libra. Onchain data shared with Cointelegraph by the class's attorney, Max Burwick, shows that nearly $57 million in USDC was frozen on May 28 after the Manhattan court agreed to a temporary freeze.
"Yesterday, a federal court in SDNY [Southern District of New York] issued a temporary restraining order at our request, Burwick Law, supported by Tim Treanor, freezing approximately $57.65 million USDC held at Circle," he added, noting that the court is expected to hold a hearing on June 9 to determine whether the assets will remain frozen during the class action.
Burwick is representing Omar Hurlock and other plaintiffs in the class action against cryptocurrency investment firm Kelsier Ventures and three co-founders Gideon, Thomas, and Hayden Davis on March 17, accusing them of creating the cryptocurrency Libra (LIBRA) and deceiving investors to withdraw over $100 million from one-way liquidity pools.
The lawsuit also names blockchain infrastructure companies, KIP Protocol and CEO Julian Peh, along with Meteora and co-founder Benjamin Chow, as defendants. #protocol

Jack Dorsey's Block will bring Bitcoin payments to Square by 2026
Block, Inc. is rolling out Bitcoin payments on Square, and merchants will be able to hold Bitcoin or automatically convert it to fiat currency in real-time.

Jack Dorsey's financial services company Block, Inc. will launch a Bitcoin payment service on Square, the company's payment processing platform, which is expected to begin deployment later this year before a full launch in 2026.
The company announced this plan at the Bitcoin 2025 conference in Las Vegas on May 27, where Block showcased the feature at the BTC Inc. merchandise store.
Merchants will be able to accept Bitcoin payments through existing Square hardware using the Lightning Network, Bitcoin's faster and lower-cost layer 2 scaling solution.
Dorsey stated on X: "Merchants can choose to hold Bitcoin or automatically convert it to fiat currency in real-time."
The company said it expects to begin deployment in the second half of 2025, reaching all eligible Square sellers by 2026, depending on regulatory approval.
This move builds on Square's existing BTC Conversion feature, which allows merchants to automatically convert sales to BTC. For consumers, payments are as simple as scanning a QR code, with Square handling the technical issues behind the scenes and Lightning enabling almost instant payments.

Block's Bitcoin product lead said: "The goal of this is to empower merchants who want more options when accepting payments."

"The world is trying to accumulate Bitcoin right now"

Trump, co-founder of a Bitcoin mining company, spoke at a cryptocurrency seminar called Consensus on May 15 in Toronto.

According to Eric Trump, the second son of U.S. President Donald Trump, there is a race happening globally to accumulate Bitcoin. Speaking at a cryptocurrency conference in Toronto on May 15, Trump stated that from families to government funds, "everyone in the world is currently trying to accumulate Bitcoin".
The comments were made during a seminar at Consensus 2025. Sharing the stage with Asher Genoot, CEO of Bitcoin mining company Hut 8, Trump noted that the adoption of Bitcoin is remarkable.

"I am traveling. I am on a plane. Everyone in the world is trying to accumulate Bitcoin right now. Everyone. I hear that from national investment funds. I hear that from the wealthiest families. I hear that from the largest companies."

Trump described what he considers to be "two races in Bitcoin": the accumulation race - currently led by Michael Saylor, he said - and the mining race, marking his own participation in the cryptocurrency space.
The third son of President Trump is a co-founder of American Bitcoin, a subsidiary of Hut8. On May 12, the companies announced that American Bitcoin would merge with Gryphon Digital Mining in a stock-for-stock transaction, leading to a public listing on Nasdaq.
#BitcoinForecast #NASDAQ

The increasingly changing perspective on $BTC solidifies the support level of $100,000

The flow of money into Bitcoin ETFs along with the options spread reflects growing confidence among investors, despite macroeconomic headwinds.

Key points: $BTC is struggling with the $105,000 level amid economic volatility.
Stable inflows from institutions help to solidify the $100,000 support level.

Market Trends

$BTC has struggled to break the $105,000 threshold since May 10. Although it regained the $104,000 mark, demand for leveraged long positions has significantly decreased, as evidenced by the Bitcoin futures premium dropping from 7% to 5%.

Macroeconomic volatility continues to affect the price of $BTC , which often closely tracks the stock market. On May 15, the price rebounded from $101,800 to $104,000 as S&P 500 futures reversed course.

Trend Predictions

Bitcoin options reflect market sentiment, with put options trading at lower prices than call options, indicating strong confidence in the $100,000 support level. However, the delta skew indicator has decreased to -4%, reflecting fluctuating sentiment.

The correlation between Bitcoin and the S&P 500 rarely lasts more than two months, but the net inflow of $320 million into U.S. Bitcoin ETFs on May 14 confirms strong institutional demand. The perception of Bitcoin is shifting from a risk asset to a less correlated tool, which may help mitigate the risk of a severe correction even without significant leveraged bullish positions.

#BTCTo1Million

Here is what happened in cryptocurrency today

1. Coinbase is reported to have refused to pay a $20 million ransom after insiders leaked user data in a scam — the breach could cost the exchange up to $400 million. Since then, the company has laid off a group of contracted customer support staff alleged to be linked to the attacks.
2. Huione Guarantee — suspected of operating as the largest darknet marketplace in the world — has shut down after a deleted Telegram account disrupted their network.
#CryptoToday

Trump's cryptocurrency relationship 'adds a certain level of challenge' to the passage of bills

The U.S. Senate is expected to vote again on the GENIUS Act, a bill related to cryptocurrency. However, it remains unclear whether supporters can address concerns from Democrats.

Coinbase's legal director, Paul Grewal, believes that former President Donald Trump's involvement in the cryptocurrency industry creates complexities in the legislative process. Since the Senate Banking Committee voted to advance the bill in March, there has been much debate over its provisions.

Some Democratic lawmakers, including Senator Elizabeth Warren, have opposed the bill due to its connection to Trump's family cryptocurrency company, World Liberty Financial, and the stablecoin USD1. However, Senator Kirsten Gillibrand stated that she would remove language specifically targeting Trump's cryptocurrency companies.

Additionally, the House is considering a bill on the structure of the digital asset market, a different version of the FIT21 bill that was passed in May 2024. Democratic representatives also opposed this bill citing "Trump's cryptocurrency corruption."

Grewal believes that in the coming days, Congress will make significant progress regarding stablecoins and the cryptocurrency market. #FIT21

Old payment platforms and foreign exchange 'hate' the application of stablecoins

The famous investor stated at Consensus that stablecoins provide a cheaper and faster alternative to traditional global payment systems.

Global payment and foreign exchange platforms are strongly lobbying against stablecoins because they could significantly disrupt their business models, investor Kevin O'Leary said in a keynote speech at Consensus 2025. O'Leary mentioned at the Toronto conference that traditional payment and foreign exchange platforms often charge high fees for cross-border money transfers and risk losing revenue if regulated stablecoins are accepted as a cheaper and faster alternative. O'Leary stated, "Currency trading is a market worth trillions of dollars — and it is outdated, ugly, and inefficient," adding that "[t]he greatest threat to that monopoly or oligopoly is a regulated stablecoin." He noted, "Once approved, the trillion-dollar foreign exchange market will become efficient, transparent, and cost-effective."

Stablecoin Legislation
O'Leary further mentioned that U.S. lawmakers are drafting legislation to promote the global adoption of stablecoins. U.S. Senators are aiming to pass what is known as the Genius Act — a framework to regulate stablecoins — by the end of May.
#Stablecoins

Wisconsin Investment Board has completely sold its Bitcoin ETF holdings
Wisconsin, one of the first states in the United States to offer Bitcoin services for retirees, previously held over 6 million shares in BlackRock's Bitcoin ETF.

According to records, the State of Wisconsin Investment Board (SWIB), the entity overseeing the state's retirement funds, sold its shares in BlackRock's iShares Bitcoin Trust (IBIT) ETF in the first quarter.
The Wisconsin Investment Board reported no spot Bitcoin ETF position in the 13F filing submitted to the U.S. Securities and Exchange Commission on May 15, liquidating all 6,060,351 shares of IBIT that they reported holding from the previous quarter.
More than 6 million shares of IBIT are valued at approximately $355.6 million at current prices.
SWIB was one of the first state investment funds to offer Bitcoin services to retirees in the U.S. when it purchased $164 million worth of Bitcoin ETF in the first quarter of 2024 — the same quarter as the launch of products $BTC .

The mass sell-off occurred just one quarter after SWIB reported having purchased additional IBIT shares in the fourth quarter while reallocating the entire 1 million shares held in Grayscale Bitcoin Trust (GBTC) to IBIT.
SWIB reported managing over $166 billion in assets at the end of 2024, meaning Bitcoin ETFs accounted for about 0.2% of SWIB's total portfolio before selling them.

Meanwhile, Abu Dhabi's national investment fund Mubadala purchased an additional 491,439 shares of IBIT in the first quarter, according to the latest 13F filing from this fund.
These purchases increased Mubadala's total IBIT shares to 8,726,972 as of March 31, valued at approximately $512 million at current prices.
#BTCETF

The trial of Tornado Cash's Roman Storm continues with slight reductions
The U.S. government's charges against Tornado Cash co-founder Roman Storm have been lightened after a memorandum indicated that the Department of Justice will end most cryptocurrency-related cases.

U.S. federal prosecutors are continuing the lawsuit against Tornado Cash founder Roman Storm, but will dismiss a small part of the indictment after the Department of Justice rescinded the cryptocurrency enforcement order last month.
Jay Clayton, acting U.S. Attorney in Manhattan, told federal court judge Katherine Polk Failla in a letter dated May 15 that the charges against Storm remain in effect, except for a part in the conspiracy to operate an unlicensed money transfer business.
Clayton wrote: “After reviewing this case, this Office and the Office of the Deputy Attorney General have determined that this prosecution is consistent with the content and spirit of the Deputy Attorney General’s memorandum dated April 7, 2025.”
The Deputy Attorney General Todd Blanche's April memorandum stated that the Department of Justice will terminate the so-called "regulation by prosecution" for cryptocurrency and added that the agency will not prosecute cryptocurrency exchanges like Tornado Cash "for the actions of end users or unintended violations of regulations."

Clayton further noted that the indictment against Storm will dismiss the allegation that he failed to comply with money transfer business registration requirements. #TornadoCash

eToro's stock price rose nearly 30% on its first trading day on Nasdaq

According to data from Yahoo Finance, the financial trading platform eToro ended its first trading day on Nasdaq with an increase of about 28.9%. eToro Group Ltd (ETOR) shares closed on May 14 at $67, up from the initial offering price of $52.

Previously, on May 13, the company adjusted its IPO price to $620 million, higher than the previously proposed range of $46-50 per share. The total number of shares offered in the IPO reached over 11.92 million shares, split evenly between the company and some current shareholders.

eToro also reported that some funds and accounts managed by BlackRock expressed interest in purchasing shares worth up to $100 million in this IPO.


#eToro #NASDAQ