Spot Bitcoin ETFs see worst week since June with $390M outflows

Spot Bitcoin ETFs see worst week since June with $390M outflows Net redemptions of roughly $390 million from Aug. 10-14 erased early-August inflows, with BlackRock's IBIT, Fidelity's FBTC and Grayscale products leading exits. Year-to-date flows remain negative after June's record $4.5 billion exodus. 1

UBS expands Bitcoin ETF call exposure 24-fold to 1.95M shares UBS reported call options covering 1.95 million IBIT shares at June 30, up from 80,000 in March, while direct IBIT holdings rose 12% and put exposure fell 53%. The filing doesn't reveal UBS's full economic exposure to bitcoin. 2

Hyperliquid AQAv2 launches Aug 26 with $200M yearly HYPE buybacks The stablecoin mechanism has support from 19 of 26 validators, and Circle moved roughly $4.4 billion USDC to Coinbase on HyperEVM, the largest such transfer. Revenue starts accruing Aug. 26, with 90% of yield flowing to buy back and burn HYPE; the first payment is expected Oct. 3. 34

Ethereum devs to narrow 66 EIPs for Hegotá upgrade FOCIL is the only EIP locked in so far; privacy-focused proposals EIP-8141, 8250 and 8272 are being pushed to enable native privacy without intermediaries. Core developers aim to ship Hegotá next year, with Glamsterdam expected in H2 2026. 5

Senate recess threatens CLARITY Act passage before midterms Majority Leader Thune filed a cloture motion Aug. 8 setting a Sept. 15 procedural vote, but the five-week August recess gives opponents time to organize ahead of midterms. The bill cleared the House 294-134 and the Senate Banking Committee 15-9. 6

Texas holds Bitcoin ETF stake as $10M reserve bet sinks to $6.6M TTSTC kept all 197,844 IBIT shares through Q2 despite a roughly 34% paper decline, with the stake worth about $6.62 million at June 30. Texas is using BlackRock's ETF as an interim vehicle before moving to direct Bitcoin custody. 7

Tokenized stocks reach 1.4M holders, up 448% in six months BNB Chain and Robinhood Chain each have roughly 500,000 holders, with Robinhood Chain capturing its share in about six weeks since launching July 1. Tokenized equities are becoming crypto's fastest-growing real-world asset category. 8

Bitwise and Superstate test tokenized shares for Solana staking ETF Bitwise is exploring blockchain-based share recordkeeping via Superstate, with the $861 million Solana Staking ETF (BSOL) as the first candidate; tokenized shares would carry the same rights as book-entry shares. No launch is guaranteed and no timeline has been set. 9

Cboe asks SEC to allow 3x Bitcoin and Ethereum futures ETFs Cboe BZX filed for an exemption to list six Volatility Shares funds, including 3x daily Bitcoin and Ethereum futures products, after 2x crypto funds suffered losses of up to 96%. The SEC says the registration statement is not yet effective. 10

21Shares staked Ether ETF faces unbonding liquidity risk TETH ended H1 with 86.42% of its ETH staked after $48.4 million in redemption distributions and a 58.73% drop in net assets. The high staking ratio leaves the fund exposed to Ethereum's unbonding timeline if redemption pressure returns. 11

UNI whale accumulation hits five-year high on Binance CryptoQuant analyst Darkfost says the top Binance UNI outflow transactions average 7,300 UNI daily, a five-year high, as whales accumulate despite UNI being down 93% from its 2021 peak. Large investors appear to be positioning at lower prices. 12

Bitcoin hovers near $64,000 as traders await FOMC minutes BTC was little changed around $63,600 in Asia, down about 3% on the week, while HYPE jumped 8% as the only major gainer. A softer dollar and fading rate-hike bets haven't lifted crypto; FOMC minutes and a White House crypto meeting are key catalysts. 13