ETF redemptions accelerated with ETH spot ETFs seeing a $429 million exit (3rd day of outflows) while BTC spot ETFs also registered a $327 million outflow yesterday.
Price momentum faded after the strong Monday one. BTC dropped 2.2% to $112,455; ETH 2.1% to $4,050; BNB down 7% to $1,215; SOL flat at $198.
Market structure: Open interest turned down sharply (≈ −77k BTC and −1.67 million ETH), indicating low return of leveraged traders.
Macro pressure: Gold hit a new ATH of $4,130 and S&P 500 +1.5% with China vowing to “fight trade war to the end.”
VC & product demand: Fundraising surged to a record $3.48 billion in one week, as venture appetite returns even as spot sentiment cools.
Professional fund managers are sitting on near-record cash positions, explicitly hedging, and naming five specific catalysts before they commit. None of them have arrived.
The $1.9 trillion asset manager's first crypto fund will trade on NYSE Arca and rotate across 5–15 digital assets, with BTC, ETH, and XRP as core holdings
Tom Lee's treasury company raises $274M via preferred equity, immediately deploys $136M into ETH — mirroring the model Michael Saylor built for Bitcoin
