Cathie Wood’s ARK Invest added nearly $15.2 million in Coinbase stock across three ETFs, reversing course days after offloading more than $39 million in shares. ARK Invest has returned to buying shares of Coinbase Global after trimming its position, adding roughly $15 million worth of stock across several of its actively managed exchange-traded funds (ETFs) on Friday. The Cathie Wood-led asset manager purchased 66,545 Coinbase shares through the ARK Innovation ETF (ARKK), 16,832 shares through Next Generation Internet ETF (ARKW) and 9,477 shares through Fintech Innovation ETF (ARKF), according to the firm’s daily trade disclosures. The buying activity coincided with a sharp surge in Coinbase stock. Shares closed the trading session at $164.32, up about 16.4% on the day, before edging higher in after-hours trading, according to data from Google Finance. The surge put the firm’s total purchase at roughly $15.2 million. Read more
US spot Bitcoin ETFs recorded four straight weeks of net outflows, with about $360 million withdrawn in the latest week. US President Donald Trump’s media conglomerate, Trump Media & Technology Group, has filed paperwork with the United States Securities and Exchange Commission (SEC) for two new exchange-traded funds (ETFs) linked to major cryptocurrencies. According to a Friday announcement by its Truth Social Funds arm, the company plans to launch the Truth Social Bitcoin (BTC) and Ether (ETH) ETF alongside the Truth Social Cronos (CRO) Yield Maximizer ETF. The filing has not yet taken effect and remains subject to SEC review. “We plan to provide an investment platform for investors covering multiple aspects of digital and crypto investing with both capital appreciation and income opportunities,” Steve Neamtz, president of Yorkville America Equities, which will act as investment adviser for both funds, said. Read more
The total memecoin market capitalization has dropped roughly 34% over the past month as the broader market sold off, but Santiment suggests the slump may not last long. A reversal in memecoins could come sooner than traders expect, even amid choppy conditions across the broader crypto market, if history is any indication, according to crypto sentiment platform Santiment. “There is a growing narrative of "nostalgia" regarding memecoins, with many traders treating the sector as if it is permanently dead,” Santiment said in a report published on Friday. “This collective acceptance of the 'end of the meme era' is a classic capitulation signal,” Santiment said, explaining that when a sector of the market is completely written off, it is often the “contrarian time” to start paying attention. Read more
Bitcoin will become “more valuable than ever” after deflation stops covering “up the impact" on the US dollar, according to Bitcoin entrepreneur Anthony Pompliano. Bitcoin investors are being forced to rethink why they hold the asset as inflation data cools, according to Bitcoin entrepreneur Anthony Pompliano. “I think the challenge for Bitcoin investors, can you hold an asset when there is not high inflation in your face on a day-to-day basis?” Pompliano said during an interview with Fox Business on Thursday. “Can you still believe in what Bitcoin’s value proposition is, which is that it’s a finite-supply asset. If they print money, Bitcoin is going higher,” he said. “Bitcoin and gold are great long-term things,” he said. The US Consumer Price Index (CPI), a widely used measure of inflation, fell to 2.4% in January from 2.7% in December, according to the US Bureau of Labor Statistics. However, Mark Zandi, Moody’s chief economist, recently told CNBC that inflation “looks better on paper than in reality.” Read...
Ether holds $2,000, but may remain under pressure as traders watch corporate earnings, US government debt and growing global tensions. Key takeaways: Institutional demand for Ether is cooling as investors shift toward the safety of short-term US government bonds. High interest rates and rising ETH supply make the current staking yield less attractive for long-term holders. Read more
Crypto companies and platforms that provide stablecoin rewards have become a major point of contention in the CLARITY crypto market structure bill. The banking industry should not be threatened by crypto companies offering stablecoin yield to customers, and both sides must compromise on the issue, according to White House crypto adviser Patrick Witt. Witt said it was “unfortunate” that the issue of stablecoin yield has become a major point of contention between the crypto industry and banks, adding that crypto service providers sharing yield with customers does not threaten the banking industry’s business model or market share. He told Yahoo Finance: In the future, I don't think this is going to be an issue,” he continued, adding, “I think they're going to find opportunities to use these products and leverage them and offer new products to their customers and expand their businesses.” Read more