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Bitcoin spot ETF trading volume is down, but 50% of the top 25 U.S. hedge funds hold BTC ETFs.

Bloomberg ETF analyst James Seyffart tweeted on his X (formerly Twitter), "Trading volume in the U.S. Bitcoin spot ETF group is clearly declining. It hasn't hit $3 billion a day since mid-May," he wrote. He continued, "US Bitcoin spot ETF fund flows are stagnant. There are neither large inflows nor outflows. However, the cumulative net inflows since launch are healthy at around $14.7 billion." In addition, more than 50% of major U.S. hedge funds have exposure to Bitcoin, according to data from Bitcoin custodian River. According to the data, 13 of the top 25 U.S. hedge funds held Bitcoin ETFs at the end of the first quarter of 2024, with global asset manager Millennium Management holding 27,263 BTC (about $16.9 billion), or 2.5% of its $67.7 billion in total assets under management.

“Zhao Changpeng's release from prison could boost BNB and 5 other altcoins”

With former Binance CEO Changpeng Zhao set to be released from prison on September 29th (local time), BeInCrypto reports that five altcoins are likely to see an uptick in value. BNB is one of the most prominent coins expected to see price movement following Zhao's release from prison.

blockchain crypto cryptocurrency French Hill blame Gary Gensler (SpotedCrypto)

French Hill : “SEC's approach to regulating crypto firms will only confuse markets”

During a hearing on the Securities and Exchange Commission (SEC) held by the U.S. House of Representatives' Financial Services Committee on March 18 (local time), Congressman French Hill criticized SEC Chairman Gary Gensler's approach to regulating cryptocurrency companies, saying that it is causing confusion and uncertainty

blockchain crypto cryptocurrency us fed ratecut 50bp (SpotedCrypto)

US Fed 'big cuts' interest rates by 0.5 percentage point to bring inflation closer to target, considers another 50 basis point cut later in the year.

The US Federal Reserve's (Fed) Federal Open Market Committee (FOMC) announced in an official statement that it will cut its benchmark interest rate by 0.5%. This is the first rate cut in nearly four years. The Fed raised rates from March 2022 through July of last year.

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