What happened
In the latest evening news roundup, spot Bitcoin ETFs saw total net inflows of $233 million yesterday, with BlackRock's IBIT leading at $183 million. Ethereum spot ETFs recorded total net inflows of $13.29 million, led by BlackRock's ETHA with $16.24 million.
Why it matters for the market
FTX has begun its fifth round of creditor distributions, releasing another $900 million. Separately, an analyst noted that Bitcoin short-term holders now represent just 23.5% of the market, a multi-year low.
Fidelity said the Federal Reserve may wait until December before starting its rate-hike cycle, but a September move cannot be ruled out. In the same update, the three major cloud providers were said to have AI infrastructure capital expenditure as high as $220 billion, with second-quarter cloud revenue beating expectations across the board.
Elsewhere, the 'Situational Awareness' fund linked to an AI stock-picking guru reportedly lost 67% in July and has approached Sequoia and Greenoaks about selling some private assets to ease liquidity pressure. South Korea also saw leveraged ETF trading volume plunge 75% on the first day after tighter rules took effect.
What traders should watch
Vida, founder of Formula, said more than 70% of his wealth came from an early information advantage in crypto, and his current tolerance for a single losing trade is about $100,000.
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