Hello, Asia. Here’s what’s making news on the markets:
Welcome to Asia Morning Briefing, a daily summary of the top news stories during U.S. business hours and insight into market movements and analysis. For a detailed look at US markets, check out CoinDesk’s Crypto Daybook Americas.
Bitcoin ETFs ended a two-week buying streak late Tuesday US time, with early data showing net inflows of $299.8 million as investors shifted to crypto-related products.
SoSoValue data shows Fidelity’s FBTC brought in $165.9 million, while Ark 21Shares (ARKB) added $102.5 million and Grayscale’s BTC brought in $24.1 million, with others yet to report at press time.
The change marks a notable contrast to last week’s CoinShares data, which recorded $1.17 billion in outflows from digital asset investment products.
Bitcoin-listed products in the United States saw redemptions of $932 million, while Ether equivalents lost $438 million. In comparison, European markets continued to attract capital, with inflows of $41 million into Germany and $50 million into Switzerland, suggesting longer-term positioning outside the United States.
However, Altcoins continue to reverse the trend. Solana saw another $118 million in inflows last week, bringing its nine-week total to $2.1 billion, while HBAR and Hyperliquid saw smaller but steady gains, according to CoinShares data.
The trend indicates that investors are differentiating between core assets under macroeconomic pressure and emerging networks that are still seeing on-chain momentum.
Kraken Global Economist Thomas Perfumo said Bitcoin’s fundamentals remain intact despite short-term volatility.
“In approximately seven days, Bitcoin’s circulating supply will exceed 19.95 million coins, or 95% of its peak supply of 21 million coins,” he wrote in a note provided to CoinDesk. This step highlights Bitcoin’s programmable scarcity and its long-term role as a “credibly neutral, globally accessible store of value.”
As short-term price action continues to track U.S. liquidity expectations, Perfumo added that the design of hard money and the growing adoption of Bitcoin are leading to long-term value accumulation.
Institutional investors appear to reflect this view: They are buying declining stocks through ETFs, reducing their exposure to high-beta assets and maintaining their allocations in what is increasingly seen as a structural portfolio asset rather than a speculative trade.
Market movement
BTC: Bitcoin rose 1.4% to around $103,000, recouping some of last week’s losses as ETF inflows and easing macroeconomic fears lifted sentiment.
ETFs: Ethereum gained 2.1% to $3,424, outperforming Bitcoin as traders turned to the majors after two weeks of outflows.
Gold: Gold traded at $4,134.6, near record highs, as economist James Thorne warned the United States had crossed a fiscal “Rubicon” that could trigger a “Bretton Woods 2.0” reset revaluing gold to manage debt, while Barrick Mining’s $1.3 billion quarterly profit and dividend rise underlined how surging gold prices are transforming the global financial landscape.
Elsewhere in crypto
- Ethereum is Wall Street’s ‘infrastructure,’ says former BlackRock executive (CoinDesk)
- Taurus and Stellar selected for a pilot project for symbolic financing of clean energies in Spain (The Block)
