● Currently, 701 new funds have reported holding Bitcoin spot ETFs
According to PANews, hedge funds, pensions and banks continue to invest heavily in direct Bitcoin ETFs. According to Bloomberg's analysis of the second quarter documents of the U.S. Securities and Exchange Commission, hedge funds such as Millennium Management hold shares in at least five Bitcoin ETFs, and although they have significantly reduced their ETF holdings from the previous quarter, they are still the largest holders of most funds.
Following Wednesday’s deadline for filing second-quarter 13F reports with the U.S. Securities and Exchange Commission, 701 new funds reported holdings in spot bitcoin ETFs, bringing the total number of holders to nearly 1,950, the data showed.
● BlackRock surpasses Grayscale to become the largest digital asset fund management company
According to ChainCatcher, CoinShares research director James Butterfill disclosed on X that BlackRock recently surpassed Grayscale to become the digital asset fund management company with the largest total assets under management.
● US retail sales rose 1.0% in July, easing concerns about economic slowdown
According to Odaily Planet Daily, U.S. retail sales grew more than expected in July, up 1.0%, while June retail sales were revised down to a 0.2% decline. The lack of signs of a collapse in demand could prompt financial markets to lower expectations for a 50 basis point rate cut next month. Due to a modest increase in inflation in July, the possibility of a 25 basis point rate cut remains high. Fund futures show that the probability of a 50 basis point rate cut by the Federal Reserve in September has dropped to about 23.5%.
According to Odaily Planet Daily, the number of initial unemployment claims in the United States for the week ending August 10 was 227,000, which was expected to be 235,000, and the previous value was revised from 233,000 to 234,000. The number of continuing unemployment claims in the United States for the week ending August 3 was 1.864 million, which was expected to be 1.875 million, and the previous value was revised from 1.875 million to 1.871 million.
● Binance completes registration in India, achieving the 19th global regulatory milestone
Binance announced that it has successfully registered as a reporting entity with the Financial Intelligence Unit of India (FIU-IND). This achievement marks Binance’s 19th global regulatory milestone. Registration with the FIU underscores Binance’s commitment to complying with Anti-Money Laundering (AML) standards in India and other jurisdictions where it operates.
● Binance Labs announces investment in MyShell
According to Binance's official blog, Binance Labs announced that it has invested in MyShell through its sixth incubation program. The specific amount has not been disclosed. The project is a decentralized artificial intelligence ecosystem that allows everyone to build, own and share artificial intelligence applications.
It is reported that MyShell's application scenarios in the encryption ecosystem include: AI raw pictures, videos, games, personal assistants and other scenarios, and the number of registered users has exceeded three million.
● JPMorgan Chase: Growth in stablecoin supply has not eroded cryptocurrency market share
According to Odaily Planet Daily, JPMorgan Chase's latest research report pointed out that the supply of stablecoins has been growing, but this does not mean that it is taking over the market share of cryptocurrencies. On the contrary, it is a sign of an increase in the total market value of digital assets.
The report also pointed out that the reasons for the growth of the stablecoin market include the sharp rise in the prices of Bitcoin and Ethereum, which has led to an increase in the market value of the crypto market, thereby driving the growth of stablecoin supply. In addition, since the launch of the spot Bitcoin exchange-traded fund (ETF) in the United States in January this year, investors have increasingly used stablecoins to enter the crypto market, which has also boosted demand.
According to BlockBeats, QCP Capital posted on its official channel that the US CPI data was in line with expectations. The market now predicts a 62.5% probability of a 25 basis point rate cut, compared to 47.5% before the CPI announcement. The milder CPI data led to a short-lived and dramatic reaction in the stock and cryptocurrency markets.
The cryptocurrency rally was short-lived as the market fell following a transfer of 10,000 BTC to Coinbase Prime in the US and a 17,000 ETH sell-off by Jump. Front-end volatility for both BTC and ETH fell sharply following the CPI release, dropping by around 10 pips. Risk reversals also fell further, dropping to -8 and -6 pips for ETH and BTC, respectively. This suggests that the options market is now anticipating more downward pressure on prices due to the new supply.
