Highlights $ALPACA
Highlights
Bitcoin ETF Surpasses Gold Fund in Record Demand
Elon Musk Backs Senator’s Call to Abolish Federal Reserve Amid Growing Bitcoin Support
Wyoming Senator Pushes for U.S. Bitcoin Reserve with 5% Supply Target
BlackRock’s iShares Bitcoin Trust ETF (IBIT) has exceeded the iShares Gold Trust (IAU) in asset size, now reaching $34.3 billion after a $1.1 billion inflow, eclipsing IAU’s $33 billion. Since its January launch, IBIT has attracted over $27 billion, ranking as the fourth highest fund globally by flows this year. This trend reflects Bitcoin’s surge to a record $76,956, fueled by increased investor interest following Donald Trump’s election, signaling a pro-crypto stance for the upcoming US administration. Analysts forecast continued inflows, with targets reaching $100,000 by early 2025 if momentum holds.
Elon Musk recently supported Utah Senator Mike Lee’s call to dismantle the Federal Reserve by reposting Lee’s critique of the central bank’s independence. Lee argued that Federal Reserve Chair Jerome Powell’s stance, refusing to step down under a Trump administration, reflects a deviation from constitutional principles that grant the president authority over the executive branch. This viewpoint aligns with “sound money” advocates and Bitcoin supporters who argue that fiat currencies are vulnerable to inflation. Amid surging U.S. debt, lawmakers like Florida CFO Jimmy Patronis and Wyoming Senator Cynthia Lummis are promoting Bitcoin as an inflation hedge, with President-Elect Trump also hinting at a strategic Bitcoin stockpile.
Wyoming Senator Cynthia Lummis has introduced the Bitcoin Strategic Reserve bill, proposing that the U.S. government acquire 5% of Bitcoin’s total supply as a national reserve asset. The bill outlines creating a secure network of Bitcoin vaults under the Treasury’s control, with cybersecurity measures to protect the holdings. Lummis sees this as a proactive measure against inflation, aiming to support economic stability as national debt climbs. Endorsements for Bitcoin as a reserve asset have come from figures like RFK Jr. and Donald Trump, despite recent U.S. transfers of Bitcoin to unmarked wallets, which some viewed as contradictory.
News
BlackRock’s Bitcoin ETF Surpasses Gold Fund After Record Inflow
MicroStrategy’s Bitcoin portfolio surpasses $20B, ROI now over 100%
First UK Pension Fund Invests in Bitcoin
Michigan pension fund maintains Bitcoin ETF investment, adds Ether ETFs
Products
Ethereum deploys nearly $500M to ecosystem projects in 2022–23: Report
Coinbase Brings Bitcoin to Solana, Spurring High Hopes for DeFi Surge
Crypto.com Set to Launch Banking, Credit Card, and Stock Services
Bitcoin could be one upgrade away from overtaking Ethereum DeFi
Regulation
Elon Musk reposts call to end the US Federal Reserve Bank
Sen. Lummis introduces Bitcoin Strategic Reserve bill in Senate
Singapore advances asset tokenization with new MAS frameworks
Pakistan moves to regulate cryptocurrency, CBDCs as legal tender
Funding
Standard Chartered’s crypto custodian Zodia to raise $50M
Bitget Wallet launches $20M grant for Telegram Mini Apps
Crypto-backed candidates notch more wins as House results trickle in
Crypto-backed Super PAC reports raising $78M for 2026 midterm efforts
