Crypto
$9B
Yaël Bizouati-Kennedy

Bitcoin spot ETFs continue to smash records, attracting $9 billion in inflows in the past five weeks, according to Bloomberg data. Once again, BlackRock’s iShares Bitcoin Trust took the lion’s share of inflows over that period.

BlackRock’s ETF now holds $71 billion in assets and ranks “23rd overall, absolutely bonkers for a one year old,” Bloomberg Intelligence analyst Eric Balchunas posted. “The next youngest ETF in the Top 25 is 12yrs old!” 

On April 29, the ETF saw inflows of $970.9 million, the second-largest since inception. Since then, it has had “32 straight days w/ no outflows,” as Nate Geraci, ETF Store president, noted.

In comparison, gold ETFs have had outflows of more than $2.8 billion over the same period.

Nic Puckrin, founder of Coin Bureau, told Sherwood News that bitcoin and gold have been locked in a long-standing battle for the title of ultimate inflation hedge and store of value, but this year might finally tip the scales in bitcoin’s favor.

“It’s not just price that matters — it’s also ownership dynamics, and bitcoin is far more under-owned than gold is,” he said, adding that some 20% of all gold ever mined is owned by central banks and the asset already makes up part of many portfolios’ balances.

“Bitcoin ownership is still very much in its early stages. Institutions and corporations are getting involved, but retail is yet to dive in with meaningful allocations,” Puckrin said.

IBIT is also steadily stashing bitcoin and now holds 659,297.1 tokens. This represents more than Strategy has, the largest bitcoin corporate holder, with 580,250 bitcoin.

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See all Crypto
Sage D. Young
14h
Zcash nosedives after counterfeit vulnerability revealed

The privacy-focused cryptocurrency has dropped more than 40% in the last 24 hours, shedding $3.8 billion in market capitalization.

Zcash coins on blue background.
$62B
Yaël Bizouati-Kennedy

Bitcoin digital asset treasuries (DATs) have taken a big hit amid bitcoin’s tumble, shedding $62 billion in value since the asset’s October 6 all-time high, Artemis data shows, with their fully diluted market cap dropping to $72 billion from $134 billion in early October.

Meanwhile, bitcoin, which has fallen below $62,000 on Friday morning, is down 50% from its all-time high. DAT pioneer Strategy’s market cap stood at $102.2 billion on October 6, according to Macro Trends, and is now down to $45.6 billion, a 55% decline. Strategy has been in hot water since it sold 32 bitcoin earlier this week, and because its digital credit instrument, STRC, has been trading below its par value. Shares of Strategy are down 17% in the past week.

crypto
Sage D. Young

“Sentiment for crypto is firmly in the gutter” as sector sinks, with tokens hitting multiyear lows

On Thursday, altcoins swept lower as bitcoin weakened. The tokens with the biggest losses in the last 24 hours are NEAR, ethena, and Zcash, each declining double digits in the period.

Other tokens have dropped to lows not seen in over a year in the past 24 hours:

  • Ethereum dropped 4.4% to under $1,780, a level not seen since April 2025.

  • XRP declined 4.5% to an 18-month low last hit in November 2024.

  • Solana decreased 6% to trade below the $70 mark, its lowest price since December 2023.

  • Dogecoin slid below $0.09, a 27-month low last seen in February 2024.

“Sentiment for crypto is firmly in the gutter as fears surrounding BTC/STRC and its potential overflow compound and overshadow anything that can be read as positive news (e.g. CLARITY movements),” according to Sean Dawson, head of research at crypto options platform Derive.xyz.

“[Altcoins] are high beta plays to BTC and are typically sold heavily in a downturn. Simply put, I’d be even more bearish on alts,” Dawson told Sherwood News.

“Further, liquidity has been drained into this year’s ‘superhot’ narrative of AI/data centers. In other words, there are just better, more exciting opportunities elsewhere,” Dawson added.

One cryptocurrency that has bucked the downtrend has been worldcoin, the native token for World, the digital identity project backed by OpenAI CEO Sam Altman. While the broader crypto market has been pushing lower, WLD has jumped nearly 5% in the last 24 hours and 90% in the past seven days, data from CoinGecko shows.

Yaël Bizouati-Kennedy
6/4/26
Bitcoin nears February lows amid $1.4 billion exiting its ETFs

“This week has been painful in crypto. There is really no other way of putting it.”

Bitcoin Medals Manufactured At Sakamoto Metal
Yaël Bizouati-Kennedy
6/3/26
Bitcoin tumbles toward $65,000 as crypto may be “forced to go through a painful metamorphosis”

The AI trade is “sucking all the oxygen out of the room,” one analyst wrote.

ITALY-BITCOIN-COMPRO-EURO-CRYPTOCURRENCY

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