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BTC(Bitcoin) is down 1.82% in the last 24H. Now at $83,000. Trump on Sunday didn’t rule out additional strikes on Iran before the midterm elections, even as he said the war could end soon.
Bitcoin Spot ETF Saw Net Inflows of $2.386 Billion Last Week, Reaching a New High in Nearly a Year
According to SoSoValue data, during last week's trading days (September 21 to September 25, Eastern Time), Bitcoin spot ETFs saw a net inflow of $2.386 billion.
The Bitcoin spot ETF with the highest net inflow last week was BlackRock's ETF IBIT, with a weekly net inflow of $1.158 billion, bringing IBIT's cumulative total net inflow to $65.28 billion; second was Fidelity's ETF FBTC, with a weekly net inflow of $702 million, bringing FBTC's cumulative total net inflow to $11.06 billion.
The Bitcoin spot ETF with the largest weekly net outflow was WisdomTree Bitcoin Trust BTCW, with a weekly net outflow of $4.0161 million, bringing BTCW's cumulative total net inflow to $78.65 million.
Circle Plans to Expand Its Stablecoin Ecosystem in South Korea
Circle is advancing the expansion of its South Korea stablecoin ecosystem and is publicly hiring a Senior Director of Ecosystem Growth to be based in South Korea. This position is mainly responsible for formulating a South Korea market entry strategy, collaborating with local financial and digital asset industry participants, monitoring regulatory developments, and identifying application opportunities for $USDC and related infrastructure in South Korea.
Circle previously stated in its July report on the South Korea market that it prefers to partner with local KRW stablecoin issuers and provide infrastructure connecting to the dollar stablecoin, rather than issuing a KRW stablecoin directly in South Korea.
Kazakhstan Plans to Use Associated Gas to Boost a Revival in Crypto Mining
The government of Kazakhstan is promoting the use of associated gas to power cryptocurrency mining in order to revive the mining industry affected by power constraints. President Kassym-Jomart Tokayev signed a decree in July requiring the development of mechanisms for companies to carry out digital mining using associated gas.
Daniyar Mubarakov, head of the Blockchain and Digital Mining Association, said that the total associated gas in Kazakhstan can be converted into 1.2 to 1.3 terawatt-hours of electricity, enough to support medium or large data centers or Bitcoin mining farms at some oilfields under development. The Kazakh Ministry of Energy estimates that there are up to 60 oilfields in the country producing associated gas. Oil companies can sell the gas to miners, reducing disposal costs of millions of dollars, and miners can lock in power prices for years, reducing dependence on grid power.
Bloomberg Analyst: Cryptocurrencies Such as Bitcoin Have Underperformed over the Past Decade, and the Peak Era of Cryptocurrencies Is over
Senior Bloomberg analyst Mike McGlone wrote that, from the perspective of risk and portfolio management, Bitcoin and other cryptocurrencies may be classified as poorly performing assets over the past nearly ten years.
The Market Vectors Digital Assets 100 Index (MVDA, about two-thirds Bitcoin) has been essentially flat since 2017, while the Nasdaq 100 Index (NDX) continued to rise during the same period. Although MVDA’s volatility has been on average about 3 times higher and it is positively correlated with the stock market, it failed to provide effective risk diversification, and performed poorly from the perspective of risk and portfolio management.
Michael Saylor: Urges using digital tokens to raise funding for 10 million new companies
Michael Saylor stated that as AI transforms how businesses are built, digital tokens could help 10 million new companies raise funds and reduce financing costs and delays. He advocates simplifying issuance rules while retaining disclosure requirements and anti-fraud protections.
Michael Saylor is the Executive Chairman of Bitcoin Treasury Company Strategy, formerly known as MicroStrategy. He proposes that companies issue tokens according to their issuance type, with disclosure requirements aligned with risk levels, reducing legal costs while maintaining ownership protection and fraud accountability.
The U.S. Securities and Exchange Commission (SEC) has also proposed a cryptocurrency issuance exemption plan, under which one provision would allow qualified issuers to raise up to $5 million over four years, and another would allow up to $75 million in fundraising every 12 months; both remain proposals and include disclosure and anti-fraud requirements.
Bitcoin Spot ETF Flow
The overall net inflow of the US Bitcoin spot ETF on Friday was $134.47 million. The total net asset value of Bitcoin spot ETFs is $108.42 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 6.43%.
The Bitcoin spot ETF with the highest net inflow on September 25 was iShares Bitcoin Trust (IBIT), with a net inflow of $96.99 million, according to SoSoValue.
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