Bitcoin ETFs Record $900M in Inflows, CLARITY Act Faces Final Hurdle, and Strategy Raises $263.5M

Takeaways

• Bitcoin ETFs hit largest inflows since May: It marked the largest one-week inflow since May and continued a reversal from the previous week when bitcoin ETFs pulled in almost $200 million in inflows. BlackRock’s IBIT led the rally, pulling in $193 million after recording $282 million the previous week. IBIT subsequently posted a combined $279 million in inflows on Monday and Tuesday, continuing the recent rally. But the price of bitcoin dropped back below $65,000 on Thursday as the US ramped up strikes on Iran and the price of Brent crude oil pushed back over $100 per barrel.
  
  
• Democratic coalition opposes CLARITY Act: saying the proposed crypto market structure bill falls short on its ethics provisions, consumer protection, and illicit finance rules. But the group pledged to continue working with Republicans to reach a final version of the bill. At least 10 Democrats will need to vote “Yes” on the CLARITY Act to get it to pass the Senate with the needed 60 votes. The two sides have been negotiating for months over an ethics provision. The latest version bans the president and other federal officials from issuing or sponsoring digital assets.
  
  
• Strategy raises $263.5 million from stock sale: Funds from the sale went toward bolstering the company’s USD Reserve, pushing it to $3.225 billion. Investors responded positively to the move, with shares rising 5% on Monday before pulling back below $94 on Thursday. Strategy has come under pressure in recent months after the company announced it would actively manage its bitcoin treasury through buying and selling rather than maintain its previous buy-and-hold accumulation plan. Strategy stock has dropped more than 77% over the past year, with its mNav now valued at less than its bitcoin holdings.
  
  
• Bitmine slows ETH buying pace: Tom Lee’s company now owns 5,777,468 ETH valued at approximately $10.9 billion, marking 4.8% of the token’s total supply. The company instead repurchased 5.5 million Bitmine common shares at an average price of $15.6156. Bitmine stock has jumped more than 10% over the past five days, trading just north of $16 per share. The company’s public strategy is to acquire 5% of total ETH supply.

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