Good morning, Asia. Here’s what’s making news in the market:
Welcome to Asia Morning Briefing. We bring you a daily summary of the top news US time, as well as an overview of market movements and analysis. For a detailed overview of the US market, see CoinDesk’s Crypto Daybook Americas.
Bitcoin ETFs ended a two-week streak of redemptions by the end of Tuesday, with early data showing net inflows of $299.8 million as investors returned to crypto-related products.
According to SoSoValue data, Fidelity’s FBTC brought in $165.9 million, Ark 21Shares (ARKB) added $102.5 million, and Grayscale’s BTC hit $24.1 million, including other companies not yet reported by the time of publication.
This change is in sharp contrast to last week’s data from CoinShares, which recorded $1.17 billion in outflows from digital asset investment products.
In the US, Bitcoin exchange-traded products saw $932 million in redemptions, while Ether equivalents suffered losses of $438 million. By comparison, European markets continue to attract capital, with $41 million inflows in Germany and $50 million in Switzerland, suggesting long-term positioning outside the United States.
However, altcoins continue to buck this trend. According to CoinShares data, Solana recorded another $118 million in inflows last week, bringing the nine-week total to $2.1 billion, while HBAR and HyperLiquid posted small but steady gains.
This pattern shows that investors are distinguishing between core assets that are under macro pressure and emerging networks that still see on-chain momentum.
Kraken global economist Thomas Perfumo said that despite the short-term volatility, Bitcoin’s fundamentals remain intact.
“In approximately seven days, the circulating supply of Bitcoin will exceed 19.95 million coins, which is 95% of the maximum supply of 21 million coins,” he wrote in a note to CoinDesk. This milestone highlights Bitcoin’s programmable scarcity and its long-term role as a “trusted, globally accessible store of value.”
While short-term price trends continue to track US liquidity expectations, Bitcoin’s hard money design and growing adoption are driving long-term value generation, Perfumo added.
Institutional investors appear to be reflecting this view, buying on the spurts through ETFs, reducing exposure to high-beta assets, and maintaining allocations to assets that are beginning to be viewed as structural portfolio assets rather than speculative trades.
market movements
Bitcoin: Bitcoin rose 1.4% to around $103,000, reversing some of last week’s losses as ETF inflows and easing macro concerns lifted sentiment.
Ethereum: Ethereum rose 2.1% to $3,424, outperforming Bitcoin as traders switched to big players following two weeks of outflows.
gold: Gold traded near an all-time high of $4,134.6, while Barrick Mining’s $1.3 billion quarterly profit and higher dividends highlighted how soaring bullion prices are changing the global financial landscape, as economist James Thorne warned the US could cross a fiscal “Rubicon” and trigger a “Bretton Woods 2.0” in which gold is revalued to manage debt.
Elsewhere for cryptocurrencies
- Ethereum is Wall Street’s “infrastructure,” says former BlackRock executive (CoinDesk)
- Taurus and Stella selected for tokenized clean energy financing pilot in Spain (The Block)