Crypto
crypto
Sage D. Young

BlackRock’s bitcoin ETF outstrips SPDR Portfolio S&P 500 ETF in inflows

As Bitcoin recovers above the $103,000 level, BlackRock’s iShares Bitcoin Trust has taken fourth place in 2025 inflows, eclipsing State Street’s SPDR Portfolio S&P 500 ETF.

IBIT has seen $13.7 billion in flows during the year, $4 million more than the SPDR Portfolio S&P 500 ETF, per a Monday X post from Bloomberg ETF analyst Eric Balchunas:

SPLG emerged nearly 20 years ago. Meanwhile, IBIT started trading in January 2024. 

The year-to-date flows for the world’s largest bitcoin fund trails just three giant funds: Vanguard Total Stock Market ETF, the iShares 0-3 Month Treasury Bond ETF, and the Vanguard S&P 500 ETF. 

Michael Saylor, executive chairman of bitcoin treasury firm Strategy, posted, “$IBIT is destined to be first in flows.” Balchunas pushed back, replying, “Possible.. I’ll never say never with IBIT.. altho $VOO is having a moment.. +$82b YTD in June is utterly insane.” 

IBIT’s climb in rank comes just weeks after the bitcoin investment vehicle became the fastest ETF in history to reach $70 million in assets under management.

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Sage D. Young
8h
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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