Overview

• Bitcoin has traded above $107,000 in late June after reports of a ceasefire in the Middle East reinvigorated risk appetite across markets.
• Spot Bitcoin ETFs recorded net inflows of more than $588 million in a single day, marking a new high for institutional investment.
• Hong Kong regulators released Policy Statement 2.0 to create clear licensing paths for stablecoin issuers alongside establishing a tokenization framework.
• SEC commissioner Hester Peirce signaled that in-kind ETF redemptions could be approved soon, a change expected to enhance trading efficiency for institutional investors.
• Market participants are watching the U.S. GDP release alongside the unemployment report for clues to the next major crypto catalyst.