MARKETS DAILY: Crypto Update | Explosive Moves Could Be on the Horizon as Institutions (and Regulators) Get More Involved
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 26 June 2023
⏱️ 7 minutes
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Summary
Bitcoin futures markets are seeing large inflows.
Today's Stories:
Circle Was Top Depositor Aided by SVB Government Rescue: Bloomberg
SEC Sought Freeze Order Despite ‘No Evidence’ That Binance Was Moving U.S. Customer Funds
Markets Links:
BRN00 | Brent Crude Oil Continuous Contract Overview | MarketWatch
First Mover Americas: Bitcoin Retreats Slightly From 12-Month High
ProShares' Bitcoin Futures ETF Racks Up Biggest Weekly Inflow in a Year
Bitcoin Futures Attract Biggest Bets Since Terra's Collapse
This episode was hosted by Adam B. Levine. “Markets Daily” is executive produced by Jared Schwartz and produced and edited by Eleanor Pahl. All original music by Doc Blust and Colin Mealey.
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Transcript
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| 0:00.0 | It's Monday, June 26, 2023, and this is Markets Daily from CoinDisc. |
| 0:10.0 | George Clute is here filling in for Adam B. Levine for your daily news roundup. |
| 0:14.0 | On today's show, we're talking Bitcoin, regulators, the latest headlines, and more. |
| 0:18.0 | Just a reminder, CoinDisc is a new source and does not provide investment advice. |
| 0:26.6 | Bitcoin is slightly up since our last show Friday morning. |
| 0:31.6 | As Bitcoin does, it fell roughly 3% after Friday's one-year high above $31,300. |
| 0:42.3 | Still, as we've talked about on the show, Bitcoin's roughly 20% journey up over the past 10 days began after asset management giant BlackRock filed to launch a spot Bitcoin |
| 0:46.6 | ETF, with analysts signaling that is greenlit a move from large institutional investors |
| 0:51.1 | to push further into the space. |
| 0:53.6 | On the topic of institutional investors, ProShares' Bitcoin Strategy ETF, a Bitcoin Futures Fund |
| 0:59.0 | offered in the U.S., recorded its highest weekly inflow in over a year last week. |
| 1:03.0 | The ETF allows investors to gain exposure to Bitcoin-linked returns with a regulated product. |
| 1:08.0 | The latest holdings numbers show it holds over $1 billion worth of |
| 1:11.6 | CME Bitcoin Futures. Investors poured $65 million into the ETF in the past week, breaking a previous |
| 1:17.7 | 2023 high of just over $40 million in April. The product did not see meaningful inflows in May |
| 1:23.8 | and most of June, alongside a retreat in the price of Bitcoin. |
| 1:27.5 | And it's not just ETFs. |
| 1:29.2 | Bitcoin futures markets are seeing the largest money flows in over a year as traders |
| 1:33.0 | are putting in their bets on price movements. |
| 1:35.4 | Open interest, or the total number of unsettled contracts on Bitcoin futures, increased |
| 1:39.7 | to over $11 billion over the weekend to their highest level since May of last year. |
| 1:48.7 | All this, paired with $6.8 billion of Bitcoin and Ether options expiring on Friday, |
... |
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