The ETF Store President Nate Geraci wrote: "In less than 5 months, the iShares Physical Bitcoin ETF (IBIT) now holds over 300,000 bitcoins, accounting for nearly 1.5% of the total bitcoin supply."IBIT has only netted nearly $800 million in funds this week. This is not a view on price, but I believe advisors and institutional investors are just beginning to enter this market."
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On June 7th, according to Fortune magazine, an investigation found that Shima Capital founder Yida Gao created a secret offshore entity and transferred assets belonging to his venture capital firm to a company registered in his own name, without the knowledge of other investors. Lawyer Eric Hess said this completely violates the behavior allowed by the Investment Advisers Act.
Yida Gao has not been charged with any crimes, and a representative of Shima Capital said the company will not comment on "such regulatory matters." However, according to an anonymous source, Yida Gao's poor performance and behavior clearly violates the Securities and Exchange Commission's (SEC) investor protection rules, putting the company in trouble when raising further funds. Despite the flourishing cryptocurrency market, a representative of Shima Capital revealed that the company is currently not fundraising.
Shima Capital has also experienced a wave of senior staff departures in recent months, including Chief Technology Officer Carl Hua, Research Director Alexander Lin, who left earlier this year to start their own venture capital firm, and Chief Operating Officer and Platform Director Hazel Chen. The departing executives did not respond to requests for comment. Meanwhile, despite the current bull market in cryptocurrency, Shima Capital seems to be struggling. Its latest SEC filing shows that it manages assets of approximately $158 million, which is lower than the $200 million raised in 2022.
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Cathie Wood's ARK Invest is withdrawing from its (application) for an Ethereum ETF. Analysts believe that this withdrawal may be related to the fee war in the ETF market in recent times. ARK Invest has been pushing for the launch of an Ethereum ETF for the past few months, but faced with competitors constantly lowering fees to attract investors, ARK Invest may have reevaluated its strategy.
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According to Spot On Chain monitoring, in the past 5 hours, two whales (possibly an institution) sold 371,000 LINK ($6.48 million) and 541,000 UNI ($5.89 million) through Binance, causing the prices to drop by about 4% respectively. Expected total profit of $BTC #DYOR42711

U.S. Securities and Exchange Commission Chairman Gary Gensler said Wednesday that federal securities agents may continue bringing enforcement actions against crypto exchanges, even if the platforms disclose their products’ risks to retail investors.
In a CNBC interview, Gensler said crypto exchanges with disclosures aren’t immune to being sued by regulators if they are “manipulating the market.” The companies are also not protected from lawsuits if they publicize “misleading” information that leads traders to pour money into products they otherwise wouldn’t invest in, he said.
“Disclosure doesn't necessarily protect a bad actor,” Gensler said. “You can't just simply disclose that away.”
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Gensler also said Wednesday that most crypto companies still do not issue disclosures at all. He told CNBC interviewers that crypto exchanges have long operated in ways in which trading platforms in traditional financial markets would never be allowed to act.
The SEC has cracked down on the digital assets industry in recent years, particularly since the collapse of crypto exchange FTX. The agency has sued Kraken and Binance and is still pursuing a civil case against the U.S.'s largest crypto exchange by daily trading volumes, Coinbase.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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Uniswap officials posted an article "Preparing for a Major Event" with a countdown video, and may announce major news in the near future.
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Deutsche Bank has announced the restructuring of its digital asset team. Currently, its digital asset department has begun recruiting, less than six months after the department's layoffs. It is reported that the bank plans to provide cryptocurrency custody services, reflecting Deutsche Bank's increasing confidence in the digital asset market. Cryptocurrencies and tokenized assets will become more integrated into the financial system.
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The New York Stock Exchange has resumed trading for some of the suspended stocks. Montreal Bank and Barrick Gold are now trading again, with a 0.66% drop and a 0.32% increase respectively.
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Cross-chain DeFi protocol Entangle has announced its integration of Solana into its Photon message delivery protocol, aimed at extending Omnichain support to non-EVM networks. Now, Entangle supports a protocol for trustless cross-chain message delivery between the Ethereum Virtual Machine (EVM) ecosystem and non-EVM networks such as Solana.
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According to data from Theblockpro, as the US Securities and Exchange Commission approved spot Ethereum ETF, the open interest of May Ethereum futures rose by 52%, reaching a historical high. Ethereum options trading volume reached a new high of $31.4 billion, up 19.2%, also setting a historical high. As for Bitcoin, the open interest of May Bitcoin futures increased by 12.9%, trading volume decreased by 21%, falling to $1.26 trillion. Ethereum futures trading volume increased by 0.2%; Bitcoin options open interest rebounded, with an increase of 30.5%, and Ethereum holdings also increased, with an increase of 41.4%. Bitcoin options trading volume reached $46.8 billion, a decrease of 1.2%.
In addition, the open interest of CME Bitcoin futures increased by 15.9%, rising to $10.3 billion, and the daily average volume decreased by 9%, falling to about $4.35 billion. The monthly trading volume of Ethereum futures decreased to $692 billion, with a slight increase of 0.2%.
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L2BEAT data shows that the current Ethereum Layer2 TVL is $46.86 billion, with a 7-day increase of 2.55%. The top five TVLs are:
Arbitrum One TVL is $19.12 billion, with a 7-day increase of 1.67%;
OP Mainnet TVL is $7.74 billion, with a 7-day decrease of 0.10%;
Base TVL is $7.34 billion, with a 7-day increase of 8.61%;
Blast TVL is $3.31 billion, with a 7-day increase of 1.78%;
Mantle TVL is $1.26 billion, with a 7-day decrease of 0.50%.
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According to data, on April 1st, Coinbase's Bitcoin holdings were close to 1 million, at 928,743 BTC. As of today, according to Arkham data, their holdings have decreased to 888,337 BTC. This means that in the past 60 days, Coinbase's Bitcoin holdings have decreased by 40,406 BTC, worth 2.7 billion USD.
During the same period, Binance's Bitcoin reserves increased slightly by 408 BTC, worth about 27.6 million USD. Although it has recently increased, Binance's Bitcoin assets have decreased from April 1st ($45.68 billion) to $43.36 billion, with holdings of 642,528 BTC.
In contrast, Robinhood's platform had a net inflow of 894 BTC, worth about 60.57 million USD. 60 days ago, Robinhood managed 138,568 BTC, and their reserves have recently increased to 139,462 BTC. (Bitcoin.com)
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On May 30th, according to the official announcement on the Coinlist website, TAP Protocol has launched the issuance of its TAP token on the Coinlist platform. TAP Protocol is an OrdFi protocol designed to support Bitcoin Ordinals. The token purchase period starts at 01:00 on May 30, 2024 (Beijing time) and ends at 01:00 on June 6, 2024 (Beijing time). The specific arrangements for this token issuance are as follows:
Supply: 1,575,000 TAP tokens, accounting for 7.5% of the total supply; Price: $3.57 per token; Lock-up and release: Initial 10% unlocked at TGE, followed by linear release within 12 months. The token is expected to be listed on the exchange around June 28, 2024; Initial purchase limit: The minimum purchase limit is $100.00 and the maximum purchase limit is $2,500.00 (only supported by USDT/USDC).
The total supply of TAP tokens is 21 million.
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On May 30th, Dune data showed that the total revenue of decentralized social protocol Farcaster exceeded $1.54 million, currently at $1,541,005, and the total number of users reached 426,931.
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According to DTCC data, Fidelity's Ethereum ETF FIDELITY ETHEREUM FDBENEFICIAL INT (code FETH) has been listed on the DTCC (Depository Trust & Clearing Corporation) website, with the Create/Redeem column showing as D.
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Fantom has announced that the upgrade of the existing Opera chain has reached the necessary 66% consensus level, indicating its official launch. The release date is consistent with the expectation set at the beginning of the Sonic testnet phase in October last year, and the project has progressed smoothly without any delays. Opera is now expected to achieve the following goals: about 2,000 TPS (about 1 second determinacy) for variable/hybrid/complex transactions, about 4,000 TPS (about 1.3 seconds completion) for token swap transactions, and about 10,000 TPS (about 1.6 seconds completion) for token transfer transactions. The storage requirements of validator nodes are reduced by about 66%, and the operating costs of archive nodes are reduced by about 95%. In addition, Fantom will share more details about the technology, token economics, audience participation plan, partnership relationships, brand, and strategic direction of its upcoming chain in the coming weeks and months. Previously in October last year, Fantom launched the "Fantom Sonic" testnet, and this technology stack will replace Opera.
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