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U.S. spot Bitcoin ETFs recorded about $181 million in inflows on Tuesday, recovering from roughly $425 million in outflows the day before, according to SoSoValue. Ether ETFs also posted gains, attracting around $58 million.
DTCC pushes ahead with tokenization
The Depository Trust & Clearing Corporation is launching a pilot program to convert select equities and U.S. Treasurys into digital tokens, the Wall Street Journal reported.
Nearly 40 major traditional finance firms—including Goldman Sachs, BlackRock, JPMorgan, and Vanguard—are involved in the trial.
Assets expected to be tokenized include shares of Microsoft and Circle, as well as ETFs like Invesco’s QQQ, State Street’s SPDR S&P 500 ETF (SPY), and iShares’ 0–3 Month Treasury Bond ETF.
Williams: Inflation likely peaked
New York Fed President John Williams said there are growing signs that inflation has reached its peak and should decline gradually.
He projects inflation to fall to around 3.25% by the end of the year, before moving toward the Fed’s 2% target by 2027 and reaching it in 2028.
Alongside softer PPI data, his remarks helped push Bitcoin above $65,000 for the first time in weeks.
June PPI comes in below expectations
U.S. producer prices fell 0.3% in June, missing expectations for no change and reversing May’s 0.6% increase. Year-over-year, PPI rose 5.5%, below the 6.2% forecast.
Core PPI rose 0.2% on the month versus expectations of 0.4%, while the annual rate came in at 4.7%, also under projections.
Bitcoin extended gains to about $64,800, up 2.1% over 24 hours, while Nasdaq 100 futures rose 0.5%. Treasury yields declined, with the 10-year at 4.58% and the 2-year at 4.17%.
Crypto attracts capital as AI trade cools
By mid-July, the Dow Jones U.S. Thematic Market Neutral Momentum Index—often tied to AI-driven stocks—is heading for its weakest month since December 2023.
At the same time, capital appears to be rotating back into crypto. Bitcoin is up roughly 10% this month, while Ether has gained about 20%.
Saylor slams BIP 110
Strategy Executive Chairman Michael Saylor criticized Bitcoin Improvement Proposal 110, calling it “iatrogenic,” meaning harmful in its own design.
His comments drew pushback from supporters, including Matthew Kratter and Luke Dashjr.
U.S. strikes Iran, markets unmoved
The U.S. conducted precision strikes on Iran’s coastal defense and missile systems on Greater Tunb Island, according to Central Command.
Markets showed little reaction, with Bitcoin holding near $64,500, oil steady, and Nasdaq futures slightly higher.
Hassett: No need for rate hikes
National Economic Council Director Kevin Hassett said current economic data does not justify raising interest rates.
He also mentioned a recent discussion with Fed Chair Kevin Warsh and expressed confidence in the Fed’s policy direction.
PayPal jumps on acquisition bid
PayPal shares surged more than 21% in premarket trading after reports that Stripe and Advent International offered $60.50 per share, valuing the company at over $53 billion.
If completed, the deal would combine two major payments firms expanding into stablecoins and blockchain-based settlement. PayPal’s PYUSD stablecoin has a market cap of about $2.8 billion.
ETF flows rebound with prices
Bitcoin and Ether ETFs saw inflows return after a sharp outflow session. BlackRock’s IBIT led Bitcoin ETF inflows with about $139 million, followed by Fidelity’s FBTC with around $21 million.
On the Ether side, BlackRock’s ETHA accounted for the full $58 million inflow.
The rebound coincided with price gains, with Bitcoin ETFs rising nearly 4% and Ether funds about 6%—their strongest daily move in weeks.
Total Bitcoin ETF assets climbed back to around $78 billion, while Ether ETF assets exceeded $10 billion. However, July flows remain volatile, swinging between inflows and outflows without a clear trend.
