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Bitcoin ETFs recorded $216 million in net inflows yesterday as we saw a green daily close on both Monday and Tuesday. A rare sight in recent weeks.

Let’s jump into the news. 👇️ 

Markets

US spot bitcoin ETFs record $216 million in net inflows (2 minute read)
Bitcoin ETFs in the U.S. raked in $216.33 million in net inflows on Tuesday, marking the third consecutive day of gains. Leading the charge was BlackRock’s IBIT, the largest spot bitcoin fund by net asset value, pulling in $121.03 million alone.

Bitcoin's price climbed 1.58% in the past 24 hours, reaching $58,154. This rise follows a recent dip to around $54,000 last Friday when the defunct Mt. Gox exchange began moving its bitcoin for a $9 billion payout.

It's Not Germany Selling Bitcoin. It's One of Its States and It Has No Choice (3 minute read)
News outlets have been buzzing about Germany's sale of hundreds of millions of dollars worth of bitcoin, causing market distress and major sell-offs. However, it’s actually Saxony, a small state in eastern Germany, making the sale.

Saxony's Criminal Police Office seized 49,857 bitcoin, worth nearly $3 billion, from the Movie2k.to operator earlier this year. About a week ago, the German Federal Criminal Police Office started moving thousands of BTC to exchanges like Kraken, Coinbase, and Bitstamp, signaling a sale.

Experts say this is standard procedure for assets seized in criminal cases in Germany.

Are rate cuts bearish for risk assets? (3 minute read)
Every week, someone insists that cutting the Federal Funds Rate (FFR) is bearish for risk assets. This simplistic analysis often points to historical events like the dot-com crash, the 2008 financial crisis, and the COVID crash as proof.

But it's not that straightforward. There are two types of rate cuts: normalization cuts and panic/recessionary cuts. Normalization cuts aren't bearish; they can actually be positive. Only recession cuts, aimed at preventing a depression, typically lead to falling equity prices.

Currently, with a 1.5% GDP growth forecast and unemployment at 4.1%, any rate cut is likely a normalization cut, not a recessionary one.

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Misc

What Still Needs to Happen Before Spot Ether ETFs Can Trade (3 minute read)
There's a buzz around the potential launch of a spot ether exchange-traded fund. The SEC might approve these ETFs soon, possibly this week, but a few steps remain.

The crypto industry has long pushed for spot ether ETFs, similar to the decade-long battle for spot bitcoin ETFs, which the SEC approved in January. Proponents argue these ETFs offer a safe, regulated way for the public to invest in ether, the second-largest cryptocurrency by market cap.

Recent filings by several issuers suggest progress, but with fee details still missing, more SEC comments are expected. Notably, Invesco and Galaxy have published a 0.25% fee, while VanEck did so earlier.

Messi, Ronaldinho Pump Little-Known Solana Meme Coin: What’s the Deal? (5 minute read)
Soccer legends Lionel Messi and Ronaldinho caused a stir by promoting the Solana meme coin WATER on their Instagram stories. This unexpected endorsement sent WATER's market cap soaring 194% to $65 million in just over 24 hours.

With a combined Instagram following of over 580 million, their promotion of this niche token baffled many, including seasoned crypto enthusiasts. There's no sign of their accounts being compromised.

WATER launched on June 24 after a brief presale and is linked to the BEER meme coin, hinting at a shared origin. Branded as a “charity token,” WATER's website provides vague details about its charitable contributions, lacking specific addresses or transparent mechanisms.

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📈 TradingView - Software we use to chart Crypto.
🔐 Trezor - Our favorite hardware wallet to keep our Crypto secure.
🦑 Kraken - Where we buy crypto with cash / withdraw profit to our bank.

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