Month over month Bitcoin open interest continues to decline, while BTC options markets highlight balanced demand. Does the data point to reduced institutional investor activity? Key takeaways: Bitcoin futures demand has hit its lowest level since 2024, signaling that many institutional traders are staying cautious. Despite lower confidence from bulls, high CME open interest suggests that major institutions have not left the market. Read more
TD Securities' Reid Noch sees the exchange's tokenized-equities plan as a “market structure” moment, a sign that Wall Street is taking tokenization seriously. TD Securities, a major Canadian investment bank with operations across North America, says tokenization may be approaching an institutional turning point following the New York Stock Exchange’s push into tokenized equities. In recent commentary, TD Securities Reid Noch, vice president for electronic trading, said tokenization is beginning to carry real implications for market structure, pointing to the NYSE’s proposed tokenized equities alternative trading system (ATS) as a key development. The planned platform would enable 24-hour trading and near-instant settlement of tokenized stocks and exchange-traded funds (ETFs), subject to regulatory approval. Read more
Bitfinex Securities will restart USDt-denominated bond issuances on Bitcoin’s Liquid Network, following four previous tokenized offerings totaling $6.2 million since 2023. Bitfinex Securities said on Monday it will resume issuing tokenized bonds for Luxembourg-based securitization fund ALTERNATIVE, with future sales expected to exceed $10 million. The USDt-denominated bonds will be issued and settled on the Liquid Network, a Bitcoin sidechain, with fundraising, coupon payments and principal repayments executed fully onchain. The move follows four prior tokenized bond issuances since 2023 totaling $6.2 million, three of which have matured and been fully repaid, representing about $1 million in principal returned to investors. Read more
Chainlink’s protocol enables Coinbase’s cbBTC to move from Base to Monad, boosting Bitcoin-backed liquidity into the layer-1’s DeFi ecosystem. Chainlink has enabled transfers of Coinbase’s wrapped Bitcoin token, cbBTC, from Base to the Monad blockchain using its Cross-Chain Interoperability Protocol, enabling more than $5 billion worth of cbBTC to move into the Monad ecosystem. According to Monday’s announcement from Monad, the integration brings cbBTC into the Monad DeFi ecosystem, where a bevy of applications, including Curvance and Neverland, are adopting cbBTC markets. The move introduces Bitcoin-backed liquidity to lending, borrowing, and other decentralized finance (DeFi) applications on Monad, an EVM-compatible layer-1 blockchain designed for high-throughput trading and financial use cases. Read more