Schlagwort: crypto business

• Bitcoin ETFs saw $131 million in outflows, ending a 12-day inflow streak.
• Ethereum ETFs gained $297 million, driven by staking yield and regulatory momentum.
• Portfolio rotation signals growing institutional preference for Ethereum over Bitcoin.

Bitcoin spot exchange-traded funds (ETFs) saw net outflows of $131.35 million on 21 July, marking the end of a 12-day inflow streak and highlighting a shift in investor appetite.

On the same day, Ethereum ETFs attracted $296.59 million in net inflows, extending their own 12-day run and underscoring a broader rebalancing trend in crypto portfolios.

This divergence in flows between the two largest cryptocurrencies comes amid growing institutional interest in Ethereum products, bolstered by evolving regulation and staking-related yield opportunities.

Meanwhile, Bitcoin’s recent price consolidation has prompted profit-taking and portfolio adjustments by funds nearing quarter-end reporting cycles.

Bitcoin ETF holdings fall as inflow streak halts

Following robust gains earlier this month, Bitcoin ETFs began to experience investor outflows for the first time since early July.

Data from SoSoValue showed a net outflow of $131.35 million on 21 July, ending a sustained period of $6.6 billion in cumulative net inflows.

Despite strong trading activity—$4.1 billion in daily volume—major ETFs like BlackRock’s IBIT and Fidelity’s FBTC either posted flat flows or registered minor losses.

IBIT, the largest in the segment with a net asset value (NAV) of $86.16 billion, recorded no new net inflows.

Ark Invest’s ARKB and Grayscale’s GBTC were more impacted, seeing outflows of $77.46 million and $36.75 million, respectively.

The combined assets across all US Bitcoin spot ETFs now stand at $151.6 billion, which accounts for 6.52% of Bitcoin’s total market capitalisation.

The recent downturn suggests that some institutions may be rebalancing holdings or diversifying into other crypto assets.

Ethereum ETF net assets rise to $19.6 billion

In contrast to Bitcoin, Ethereum ETFs recorded their twelfth consecutive day of net inflows on 21 July, led by heavy activity in newly launched and established funds alike.

BlackRock’s ETHA pulled in $101.98 million, while Fidelity’s FETH attracted $126.93 million.

FETH’s NAV has now reached $2.08 billion, while ETHA has posted more than $8.16 billion in total cumulative inflows.

Grayscale’s Ethereum funds saw mixed results.

While one recorded a small outflow, the other posted an inflow of $54.90 million. VanEck and Franklin Templeton also reported new capital entering their Ethereum-based products.

Combined, all Ethereum ETFs now manage $19.6 billion in net assets, representing 4.32% of Ethereum’s total market cap.

Daily trading volumes across ETH ETFs stood at $3.21 billion.

Staked Ether and pending legislation boost ETH demand

Several market analysts attribute Ethereum’s continued inflow momentum to the inclusion of staked Ether in ETF offerings, a feature not available in Bitcoin products.

This allows investors to earn yield while gaining exposure to price action, a model that appears to be resonating with institutional asset managers.

Momentum surrounding the GENIUS and CLARITY Acts in the US Congress has helped bolster Ethereum’s regulatory narrative.

The proposed laws, which are advancing toward a final vote, could enable traditional financial institutions to integrate Ethereum-backed products more easily, supporting their inclusion in diversified portfolios.

The combination of staking yield, regulatory clarity, and consistent inflows has shifted market sentiment in favour of Ethereum—at least in the short term.

The widening gap in ETF flows also reflects a growing divergence in how investors view the strategic role of each asset.

Portfolio rotation points to broader crypto strategy shift

The difference in ETF flows may signal the start of a new allocation trend within institutional crypto investment.

With Bitcoin ETFs showing signs of saturation after their recent rally, and Ethereum ETFs offering yield through staking, portfolio managers appear to be rotating capital based on utility, structure, and evolving regulation.

This shift comes at a time when both asset classes remain under close watch from US regulators and global financial markets.

While short-term fluctuations are common, the data from 21 July suggest that Ethereum is becoming more than just a secondary crypto asset—it is emerging as a standalone category within institutional investment strategies.

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• Jupiter price was up by nearly double digits in 24 hours as it reached $0.67.
• Gains came as Jupiter allocated $150 million USDC to its lending offering.
• “JLP Loans bring a new and innovative approach to DeFi lending, unlocking a new use case for JLP,” the DEX protocol said as it unveiled the lending feature.

Jupiter (JUP) price has jumped by 9% in the past 24 hours, with trading volume nearly tripling as it jumped 258% to over $322 million.

JUP’s price swung around $0.64 at the time of writing, up 33% in the past week and just off the intraday highs of $0.67.

But with Jupiter Exchange, Solana’s top decentralised exchange aggregator, experiencing significant growth, is the native JUP token poised to break through to the key level of $1?

Jupiter adds $150 million USDC to JLP Loans

On July 22, the Jupiter team revealed that it had acted on community demand by allocating $150 million in USDC reserves to support the Jupiter Liquidity Provider feature.

The funds go to JLP Loans, allowing users to deposit their JLP tokens as collateral to borrow USDC.

Increased interest amid overall market exuberance has helped JUP’s price higher.

You asked, we delivered.

An additional 150m USDC has been allocated to JLP Loans, allowing more users to borrow liquidity against their yield-bearing JLP.

JLP Loans have an elegant implementation: in the event of a liquidation, rather than forced market selling, the JLP is… https://t.co/pzxi4PrVit

— Jupiter (🐱, 🐐) (@JupiterExchange) July 21, 2025

“Most protocols rely on forced liquidations through market selling. Once the threshold is crossed, your collateral is sold on the market, creating volatility and affecting everyone involved. But because JLP is backed by a pool of assets rather than a single token, and the protocol itself holds these underlying assets, liquidations don’t require external selling,” the DEX noted.

Market participants have responded positively to Jupiter’s strategic positioning within the lending sector.

With trading, liquidity provision, and lending integrated, the project is positioned as a critical player in the ecosystem.

This has seen the total value locked on Jupiter surge to hit $3 billion. TVL stood at around $2.1 billion on June 22, 2025.

JUP price forecast: Bulls target key level

The Jupiter token has bounced nicely since hitting lows of $0.30 in April 2025.

According to CoinMarketCap, the rebound reflects a 110% uptick at current price levels, despite bulls remaining well off the peak of $2.04 seen in January 2024.

However, technical indicators suggest a strong bullish sentiment surrounds the  JUP token – largely as most altcoins post gains.

In this case, a break above $0.70 could allow buyers to target $0.85 and then the psychological barrier at $1.

Jupiter’s latest bullish flip is down to key positive metrics such as strong Q2 results and new product launches.

This includes unveiling of Jupiter Lend and overall optimism across DeFi.

Notably, Jupiter has seen $142 billion in transaction volume, $82.4 million in fees, and over 8 million active wallets.

Market dynamics that have Ethereum eyeing $4k, Solana targeting a fresh breakout to $300 and XRP poised near its ATH also align bullish for JUP.

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• Citadel Securities has urged the US SEC to proceed more slowly on allowing tokenized securities.
• The firm warns that a rushed approach could lead to investor confusion and “self-serving regulatory arbitrage.”
• Citadel argues tokenization should advance through a formal rule-making process, not ad-hoc measures.

Citadel Securities, one of the world’s most influential market-making firms, is calling on the US Securities and Exchange Commission (SEC) to adopt a more cautious and deliberate approach to the burgeoning field of “tokenized” securities.

The firm has warned that a hasty embrace of this new technology could lead to investor confusion and create an uneven playing field for traditional exchanges and publicly traded companies.

This call for a go-slow approach comes as SEC Chairman Paul Atkins has recently spoken about streamlining traditional securities rules to make it easier for companies to offer tokenized securities.

A tokenized security is a digital representation of a traditional asset, like a stock, that can be traded on a blockchain network rather than through a conventional brokerage account.

By digitally dividing assets into smaller pieces, tokenization can make high-value stocks and other investments more affordable and accessible to a wider range of investors.

In a comment letter sent on Monday to the SEC’s Crypto Task Force, Citadel Securities argued that the race to innovate should not come at the expense of market integrity.

“Tokenized securities must achieve success by delivering real innovation and efficiency to market participants, rather than through self-serving regulatory arbitrage,” the market-making firm stated in its letter.

Instead of allowing tokenization to advance through ad-hoc measures or interpretations of existing rules, Citadel Securities insists that the SEC should move forward only through a formal, comprehensive rule-making process.

When asked for a response, an SEC spokesperson said the agency declined to comment “beyond what the chairman had said publicly on this topic.”

The promise and peril of tokenization

Proponents of tokenizing popular stocks and other assets argue that putting them on a blockchain could unlock a host of benefits, including the potential for 24/7 trading, instantaneous settlement of transactions, enhanced liquidity, and the ability for investors to easily purchase fractional shares of nearly any tokenized asset.

While, in theory, almost anyone could tokenize shares, the greatest interest in doing so comes from the asset issuers themselves or from digital asset platforms, who would then offer these tokens to their investors.

However, Citadel Securities has raised concerns about the potential unintended consequences of such a move. The firm urged the SEC to carefully consider how a rapid expansion of tokenization might further deflate an already sluggish market for Initial Public Offerings (IPOs) by giving privately held companies yet another alternative to raise capital outside of the traditional public markets.

Siphoning liquidity and creating inaccessible pools

A key concern highlighted by Citadel Securities is the potential for tokenization to fragment the market and “siphon liquidity away” from established, regulated equity markets. This could lead to the creation of “new liquidity pools that are inaccessible” to many institutional players.

Firms like pension funds, endowments, banks, and other fiduciaries often have strict risk management policies or legal obligations that would prevent them from participating in these new, less-regulated blockchain-based markets.

This development, which has garnered support from digital asset exchanges like Coinbase Global Inc. and Robinhood Markets Inc., is unfolding at a time of significant change in the digital asset landscape. SEC Chairman Paul Atkins has spoken broadly about his support for innovation in financial markets, a stance that includes the burgeoning digital assets industry.

This industry recently celebrated its first major regulatory victory last week with the enactment of landmark stablecoin legislation. Stablecoins, digital assets tied to the US dollar or other low-volatility assets, are primarily intended to be used to facilitate payments, but their successful regulation is seen as a stepping stone for broader digital asset rules.

Citadel’s letter serves as a powerful reminder of the complex challenges that lie ahead as regulators grapple with integrating these new technologies into the traditional financial system.

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