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Bitcoin spot ETFs recorded $265.69 million in net inflows, with BlackRock’s IBIT leading the day at $209.40 million
Bonk fell 8% after attackers drained nearly $20 million from BonkDAO through a malicious governance proposal
Strategy sold 3,588 BTC worth $216 million under its BTC monetization program while retaining long-term Bitcoin exposure
The crypto market saw major developments as Bitcoin spot ETFs reported a fresh inflow of $265 million, and Bonk fell after a treasury exploit of $20 million. Meanwhile, Strategy sold BTC worth $216 million. While Bonk slid after a $20 million treasury hack
According to SoSoValue, the Bitcoin spot ETF saw a total net inflow of $265.69 million yesterday. The Bitcoin Spot ETF with the highest net inflow yesterday was BlackRock's ETF IBIT, with a daily net inflow of $209.40 million, and the total historical net inflow of IBIT currently stands at $60.20 billion.
The second highest was Grayscale Bitcoin Mini Trust ETF BTC, with a daily net inflow of $42.25 million; the total historical net inflow of the BTC ETF currently stands at $2.44 billion.
Grayscale's GBTC recorded the largest daily outflow, with investors withdrawing $44.45 million. The ETF's cumulative historical net outflow now stands at $27.22 billion.
The total net asset value of Bitcoin Spot ETFs is $77.32 billion, with an ETF net asset ratio of 6.04%. The historical cumulative net inflow has reached $51.34 billion.
Bonk slumped on Monday after hackers drained nearly $20 million worth of the memecoin from the project’s treasury.
BonkDAO, the decentralized autonomous organization tied to the Solana-based cryptocurrency, said that it became the target of a “malicious governance proposal,” resulting in the loss of tokens.
BonkDAO added that it has traced the wallets linked to the hack and is currently coordinating with major exchanges, bridges, and the Solana Foundation to manage the situation.
“Law enforcement has been notified. BonkDAO continues to work with relevant parties to recover funds and identify those responsible,” it said.
The Bitcoin treasury firm Strategy has completed its largest crypto sale to date by divesting 3,588 Bitcoin for $216 million between June 29th and July 5th.
The transaction happened under the firm’s newly introduced BTC monetization program designed to support dividend payments.
“This framework is designed to strengthen credit quality and enable the Company to reduce expected preferred stock dividend payments when accretive. This framework also sets out how we plan to use our capital management toolkit while maintaining our commitment to long-term Bitcoin exposure.”
After the sale, the company holds 843,775 BTC worth about $53.88 billion and $2.55 billion in USD Reserves.
Also Read: Bitcoin Dominance Drops: Could Altcoin Season Start Soon?
Stellar network validators will hold a vote on the upgrade proposal known as Protocol 27 Zipper this coming July 8.
Official information indicates that with this technical change, they aim to modify the account authorization system and optimize developer access within the XLM ecosystem.
The core of the technical proposal focuses on native authentication delegation. Stellar’s report notes that this feature will allow one account to directly authorize another to act on its behalf through a process integrated into the network.
With the structure before Protocol 27, developers had to resort to complex methods that limited practicality in production environments.
Belgium’s financial markets regulator has added six crypto platforms to its warning list after finding they are operating in the country without the authorization required under the European Union’s Markets in Crypto-Assets MiCA framework.
According to Belgium’s Financial Services and Markets Authority (FSMA), the six crypto-asset service providers (CASPs) named in the latest warning are Aurum Foundation, Bank Bit, Bithf Pro, Dxago, Global Dynamic Trade and ZeriaFunding.
The regulator said these firms have been included in its list of fraudulent CASPs as they offer services in Belgium without the authorization required under MiCA rules.
Issued just days after the European Union’s July 1 licensing deadline, the notice comes as national regulators begin enforcing the bloc’s new crypto framework following the end of the transitional period.
Also Read: Ethereum News Today: Q3 Recovery Builds as ETH/BTC Breakout Gains Strength
1. Why did Bitcoin ETFs see inflows?
Bitcoin spot ETFs recorded $265.69 million in net inflows as institutional demand remained strong. BlackRock’s IBIT led the inflows with $209.40 million.
2. Why did Bonk fall 8%?
Bonk declined after hackers drained nearly $20 million worth of tokens from BonkDAO’s treasury. The attack was linked to a malicious governance proposal.
3. How much Bitcoin did Strategy sell?
Strategy sold 3,588 BTC for around $216 million between June 29 and July 5. The sale was part of its BTC monetization program to support dividend payments.
4. What is Stellar’s Protocol 27 upgrade?
Protocol 27, also called Zipper, is a proposed Stellar upgrade focused on native authentication delegation. It aims to improve account authorization and developer access.
5. Why did Belgium warn six crypto platforms?
Belgium’s FSMA warned six crypto platforms for operating without authorization under the EU’s MiCA framework. The warning came after the July 1 licensing deadline.
