Spot bitcoin ETFs to hit $1 trillion in trading volume

$1T

Spot bitcoin ETFs, which were launched in January 2024, are set to reach an eye-popping $1 trillion in trading volume, according to The Block. The ETFs collectively hit $995.2 billion yesterday and are likely to pass the symbolic trillion mark today.

BlackRock’s iShares Bitcoin Trust, the darling of bitcoin ETFs, leads the pack in terms of trading volume, with a 79% market share. Just yesterday, Bloomberg’s Eric Balchunas noted that the ETF crossed $70 billion in assets under management, becoming the fastest ETF to hit that milestone. The ETF, with 662,771 bitcoin, also holds more bitcoin than Strategy, the largest corporate holder, which has 582,000 bitcoin.

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Sage D. Young6h

Solana falls to a more than 3-month low

The price of solana has been struggling, dipping below $76 briefly on Tuesday, a level not seen since February.

Despite the underlying asset suffering, solana ETFs saw $115 million of inflows in May, the highest monthly figure in 2026, data from SoSoValue shows. The investment vehicles have brought in a total of $1.1 billion since their inception last year and have yet to record a monthly outflow.

However, positive ETF flows haven’t swayed traders, who are increasingly negative: prediction market-implied odds of solana dropping under $60 in the year stand at 60%, an increase from 45% three weeks ago.

(Event contracts are offered through Robinhood Derivatives, LLC — probabilities referenced or sourced from KalshiEx LLC or ForecastEx LLC.)

"ETF flows for Solana have been positive but relatively small, so they currently only have a marginal effect on the overall price discovery for SOL," according to Carlos Guzman, research analyst at crypto trading firm GSR.

"Solana has been caught up in the broader crypto market weakness, where, outside of a few sectors that have attracted interest of late, including perpetual exchanges, privacy, and AI, most crypto token performance has been sluggish," Guzman told Sherwood News. "The meme coin narrative that drove interest in SOL in late 2024 and early 2025 has largely subsided, so the token has found itself outside of the current zeitgeist."

Meanwhile, former presidential candidate Andrew Yang’s Noble Mobile announced on Tuesday that it acquired Helium Mobile, a wireless carrier that runs on the solana blockchain. The two companies both declined to disclose the deal’s financial details, according to a report from Fortune.

(Event contracts are offered through Robinhood Derivatives, LLC — probabilities referenced or sourced from KalshiEx LLC or ForecastEx LLC.)

Yaël Bizouati-Kennedy

June Gloom

Bitcoin falls below $68,000 as bitcoin ETFs hit record losing streak

Strategy’s sale of 32 bitcoin may be small in number but it’s big in impact on market sentiment.

HYPE notches all-time high, and its treasury companies are the only profitable ones

Hyperliquid Strategies and Hyperion DeFi, two firms focused on accumulating HYPE, are currently the only digital asset treasury companies with gains.

Sage D. Young6/1/26

Yaël Bizouati-Kennedy

6/1/26

Bitcoin closed May in the red. Will June be doom and gloom?

May was bad, but June is historically worse for bitcoin’s performance

A Bitcoin symbol displayed outside a Bitcoin ATM, on November 20, 2024 in Krakow, Poland.

Sage D. Young6/1/26

Ethereum developer unlocks $2 million of trapped tokens from 2016 ICO contract

Initial coin offerings (ICOs) have been a way for people in the crypto space to fundraise capital that involved users sending ethereum to a smart contract with the expectation of receiving a project’s tokens.

Despite the popularity of ICOs, a number of projects failed, were unable to meet fundraising goals, and then, for one reason or another, were unable to return investors’ capital. One such example was HongCoin, which aimed to be a decentralized venture fund across borders.

On Sunday morning, blockchain sleuth 0xFlorent announced unlocking 1,003.62 ethereum tokens, worth $2 million, in HongCoin’s 2016 smart contract, enabling the 48 initial investors to claim funds that have been trapped for nine years. Of the investors, two have so far claimed a combined 96.5 ethereum.

The contract held all of the investors’ ethereum and was meant to auto-refund the cryptocurrencies, but “a bug in the refund function quietly broke that, and the funds got stuck,” 0xFlorent said in an X thread.

The HongCoin recovery was the second one the ethereum developer has disclosed in the past eight days. Last Sunday, 0xFlorent said they unlocked over 19.3 ETH, worth $40,590, that were stuck in two old contracts.

As to whether 0xFlorent will unlock more tokens stuck in ICO contracts, the security researcher doesn’t know. “It’s not my main activity and I did it because I found a way to help people. That’s it," 0xFlorent told Sherwood News.

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