Bitcoin ETFs record $84M in withdrawals, ending three-session inflow streak
U.S. spot Bitcoin ETFs experienced a net outflow of $84 million on Wednesday, ending a three-day period of positive inflows that had attracted roughly $509 million in investments.
Elon Musk says SpaceX could become the world’s most valuable company
Elon Musk said SpaceX’s potential valuation has no clear ceiling if the company successfully achieves its ambitious long-term objectives.
The SpaceX CEO made the comment on X after responding to a user who questioned whether the May partnership involving SpaceX, xAI, and Anthropic could eventually be viewed as one of the biggest strategic missteps in the AI industry.
Musk argued that SpaceX could reach a valuation greater than the combined value of everything on Earth if it fulfills its mission.
Meanwhile, SPCX shares showed a modest recovery, gaining 2.6% on Thursday to reach $152.16.
Kevin Warsh creates new Fed task forces featuring Marc Andreessen
Federal Reserve Chair Kevin Warsh has established five new task forces to evaluate whether the central bank’s current methods, tools, and policy frameworks remain effective in today’s rapidly changing economy.
Warsh noted that the U.S. economy has transformed significantly over the past generation and emphasized the need to reassess how policymakers approach major challenges.
The task forces will examine:
- Fed Communications: Improving transparency and messaging around policy decisions.
- Balance Sheet Strategy: Evaluating the effects and future role of the Federal Reserve’s balance sheet.
- Economic Data: Enhancing the accuracy and speed of information used for policy decisions.
- Productivity and Employment: Assessing how AI and other emerging technologies influence jobs and growth.
- Inflation Policy: Reviewing how inflation trends are measured and addressed.
Marc Andreessen, known for his optimistic outlook on AI-driven economic growth, will participate in the Productivity and Jobs group alongside Microsoft Xbox CEO Asha Sharma. Former Walmart CEO Doug McMillon will help oversee the Data task force.
Nasdaq climbs as easing oil prices and yields boost sentiment; Bitcoin stays near $63K
U.S. stocks moved higher Thursday as declining oil prices and softer Treasury yields helped restore investor confidence.
The Nasdaq advanced 1.25%, led by strong gains in AI-related companies including Micron Technology, SanDisk, and AMD.
Markets appeared to look beyond recent Iran-related tensions, with WTI crude falling back toward $70 per barrel and bond yields pulling lower.
Bitcoin stabilized after recent weakness, trading slightly above $63,000 with a 1.6% increase over 24 hours. Ethereum also gained 0.75% to $1,751.
Strategy’s STRC preferred shares remain under pressure despite dividend safeguards
Strategy and Michael Saylor have increased efforts to reassure investors about the stability of their preferred stock products, especially STRC.
The company recently sold nearly 4,000 Bitcoin and allocated the proceeds into a reserve fund dedicated to maintaining dividend payments. Including existing funds, Strategy now has enough reserves to cover around 17.4 months of preferred dividends.
Despite nearing the commonly viewed safety threshold of 18 months, STRC continues trading below its $100 par value. The shares remain near $85, representing a 15% discount and reflecting lingering investor concerns.
AI data center stocks may be undervalued compared with contract value
Several AI infrastructure companies associated with Bitcoin mining could be trading below the value of their existing customer agreements, according to a Compass Point research report.
The analysis suggested investors should assess AI data centers similarly to real estate assets, focusing on contracted revenue streams rather than only future expansion opportunities.
Applied Digital was identified as the strongest example, with existing contracts estimated at approximately $27.6 billion after construction costs, compared with an enterprise valuation of about $16.7 billion.
The report also highlighted TeraWulf and Cipher Mining as potentially undervalued, while Core Scientific and Riot Platforms have received more market recognition for their current and planned projects.
MARA shares surge after buying Texas energy infrastructure site
MARA Holdings gained 14% following its agreement to acquire a major powered land facility in Matagorda County, Texas, from HIF.
The 1,200-acre property could provide up to 2 gigawatts of electricity capacity by 2028, enabling support for AI data centers, high-performance computing, and Bitcoin mining operations.
The acquisition is expected to increase MARA’s potential power capacity to around 4.8 gigawatts as the company expands its digital infrastructure strategy.
Zuckerberg introduces Muse Spark 1.1 AI model after returning to X
Meta CEO Mark Zuckerberg returned to X after a three-year absence to announce Muse Spark 1.1, a new AI model designed for advanced agent-based tasks.
The model includes a one-million-token context window and can distribute tasks among multiple AI agents.
Zuckerberg claimed the system outperformed Google’s Gemini 3.1 Pro, OpenAI’s GPT-5.5, and Anthropic’s Opus 4.8 in several AI agent benchmarks.
The announcement came as Meta revealed plans to begin producing its own “Iris” AI chip in September. Meta shares were trading around 0.75% lower at $598.65.
Bitcoin returns to $63K as crypto markets attempt recovery
Bitcoin climbed back toward the $63,000 mark Thursday as cryptocurrencies rebounded following a sharp selloff.
BTC gained about 2.4% over 24 hours, while Ethereum, XRP, and Solana also moved higher.
The broader market improved as the Nasdaq rose 0.7% and the S&P 500 gained 0.5%.
A decline in oil prices and easing bond yields helped reduce pressure on risk assets after renewed Iran tensions triggered investor caution.
Semiconductor stocks rally as Meta accelerates AI chip plans
AI-related semiconductor stocks gained after Meta announced plans to manufacture its own “Iris” AI chip starting in September.
The initiative is aimed at expanding Meta’s computing capacity while reducing dependence on Nvidia and AMD.
Companies including Broadcom, TSMC, Samsung, and SanDisk could benefit from the move, while semiconductor-focused ETFs also advanced.
Meta expects to spend as much as $145 billion on AI infrastructure this year.
Bitcoin options market shows caution but avoids extreme fear
Bitcoin options data indicates investors remain cautious, with the 25-delta skew reaching 18%, signaling increased demand for protective put options.
The elevated level reflects concerns over potential downside risks as Bitcoin trades above $62,000.
However, sentiment remains significantly calmer than during the 2022 FTX collapse, when the skew climbed above 40%. Current positioning suggests risk management rather than widespread panic.
Amazon’s $25B debt offering signals softer appetite for AI funding
Major technology companies are increasingly using bond markets instead of equity issuance to finance large-scale AI infrastructure investments.
However, investor demand appears to be weakening. Amazon’s $25 billion bond sale attracted orders worth roughly 1.6 times the offering size, below the average demand seen in recent major technology debt deals.
SK Hynix U.S. listing receives strong investor interest despite market turbulence
SK Hynix’s planned U.S. listing attracted demand exceeding seven times the available shares, according to sources familiar with the offering.
The sale of nearly 178 million American depositary receipts could generate close to $25 billion, making it one of the largest overseas listings in U.S. market history.
Despite strong global demand, South Korean technology stocks faced volatility, with Samsung and SK Hynix shares declining amid uncertainty around AI-related investments.
Bitcoin remained near $62,700 as investors continued directing capital toward AI infrastructure opportunities.
Oil prices ease as Treasury yields stabilize
Crude oil prices declined as markets assessed renewed U.S.-Iran tensions following the breakdown of a ceasefire agreement.
Brent crude slipped below $73 per barrel, while Bitcoin gained about 1% to trade near $63,000.
Precious metals recovered after recent declines, while U.S. Treasury yields stabilized following Wednesday’s jump. The 10-year yield remained above 4.5%, continuing to weigh on risk assets.
Bitcoin ETFs see renewed outflows while Ethereum funds extend winning streak
U.S. spot Bitcoin ETFs recorded approximately $85 million in net outflows on Wednesday, reversing a three-day inflow streak that had brought in about $509 million.
BlackRock’s IBIT recorded around $59 million in withdrawals, Grayscale’s GBTC lost nearly $64 million, and Fidelity’s FBTC saw approximately $15 million leave the fund. Grayscale’s Bitcoin Mini Trust was the only major fund to record inflows, gaining nearly $53 million.
Total Bitcoin ETF assets declined to roughly $75 billion.
Meanwhile, Ethereum ETFs continued their positive momentum, attracting about $70 million in inflows for a fifth consecutive trading session. Fidelity’s FETH led the gains with nearly $69 million in new investments.
Bitcoin traded near $62,300 and Ethereum around $1,740, with both assets falling roughly 3% on the day. Ethereum has continued to outperform Bitcoin recently, supported by stronger ETF demand and optimism around its development roadmap.
