Bitcoin ETFs saw $276M in outflows, signaling short-term cooling demand.
Cango reallocates capital from Bitcoin to AI computing while retaining large BTC reserves.
Ripple, WLFI, and Midnight push forward long-term ecosystem growth despite market volatility.
The crypto market today saw developments through Bitcoin spot ETFs recorded heavy outflows, corporate strategy shifts accelerated and major ecosystem developments influenced the industry narrative. From mining firms reallocating capital to artificial intelligence to Ripple outlining trillion-dollar ambitions.
Bitcoin spot ETFs registered a total net outflow of $276.30 million on February 11, according to SoSoValue.
The largest withdrawal came from Fidelity’s FBTC, which saw $92.60 million exit in a single session. Despite the recent pullback, FBTC maintains cumulative historical net inflows of $11.07 billion.
WisdomTree’s BTCW was the only fund to post a net inflow, adding $6.78 million. This brought its total historical inflow to $66.26 million.
Total net assets across Bitcoin spot ETFs now stand at $85.77 billion, with ETFs accounting for approximately 6.35% of Bitcoin’s total market capitalization.
Also Read: Bitcoin Price Today at $67,204: Cryptocurrency Market Faces Fresh Volatility
Bitcoin miner Cango disclosed the sale of 4,451 BTC worth nearly $305 million.
The proceeds are used to repay a Bitcoin-backed loan and fund the company’s expansion into AI-driven computing services.
Cango’s shares fell nearly 3% after the announcement and are down roughly 62% over the past six months. This reflects investor concerns about earnings compression in the mining sector.
Cango held over 7,400 BTC valued at approximately $528 million at the end of January.
Ripple CEO Brad Garlinghouse revealed the company's objective to achieve a valuation of $1 trillion. But he acknowledged the firm’s current valuation sits near $40 billion, far below the expectation.
Garlinghouse explained that Ripple plans to expand its business through the strategic development of its XRP ecosystem instead of responding to immediate changes in market prices.
Ripple has purchased several companies, which include Hidden Road for $1.25 billion and GTreasury for $1 billion. Other strategic purchases also total hundreds of millions of dollars.
The focus for 2026 will be integration rather than new acquisitions. Garlinghouse reiterated that XRP is still the company’s ‘north star’ with all enterprise products designed to support XRP utility and adoption.
Also Read: XRP Slides 50% in 6 Months: Opportunity or Red Flag for Investors?
Cathie Wood’s ARK Invest purchased 433,806 shares of Robinhood worth $33.8 million, alongside additional stakes in crypto exchange Bullish and USDC issuer Circle.
Robinhood now represents approximately 4.1% of ARK’s flagship ARKK ETF, valued at nearly $248 million.
The buying occurred as Bitcoin dipped below $66,000 and Robinhood shares fell nearly 9%.
ARK refrained from increasing its Coinbase position after selling $17 million of COIN last week.
WLFI launched its USD1 stablecoin, targeting cross-border remittance corridors. BitGo has been appointed custodian of USD1 reserves, emphasizing institutional-grade asset segregation and transparency.
The rollout aligns with remittance-focused use cases and includes plans for integration on the Canton Network.
Pakistan has signed a memorandum of understanding to explore the USD1 adoption for payments and remittances.
However, regulatory uncertainty remains, particularly around potential US stablecoin legislation and reserve reporting standards.
Charles Hoskinson announced that Midnight, a privacy-focused blockchain developed by Input Output Global, will launch in the final week of March as a partner chain to Cardano.
Midnight uses zero-knowledge proofs to allow selective data disclosure. A public simulation platform, Midnight City, will open on February 26 to test scalability under real-world-like conditions.
The network aims to balance privacy and regulatory compliance through layered access controls to offer public, auditor, and restricted disclosure views.
1. Why did Bitcoin ETFs see outflows?
Recent volatility and price weakness likely triggered profit-taking and short-term institutional repositioning.
2. Is Cango exiting Bitcoin mining?
No, Cango will continue mining but is reallocating part of its capital toward AI infrastructure.
3. Can Ripple realistically reach $1 trillion valuation?
It would require roughly 25x growth from its current valuation, making it a long-term strategic ambition.
4. What is the purpose of USD1 stablecoin?
USD1 aims to reduce cross-border remittance costs while offering institutional custody safeguards.
5. What makes Midnight blockchain different?
Midnight uses zero-knowledge proofs to enable selective data disclosure, balancing privacy with regulatory compliance.