Issue #81

BTC ETFs bring in >$2.2B last week, banks push SEC to allow them to custody BTC, US Treasury debunk crypto terrorism claims & more...

Market Overview

As of the time of writing (Monday 5pm), the total market cap of the crypto asset market is $US2.07T, up (9.6%) from last week.

Below is the weekly performance of the top crypto assets. 

240220 newsletter

News Headline Highlights

  • Bitcoin ETF update
    • Net flows to BTC ETFs was over $2.2B last week, accelerating from last week’s flows of $1.2B. For context, combined, that is more than any other ETF (out of 3,400) took in. BlackRock’s IBIT alone was #2.

240220 additional 2

 Crypto Asset Project Updates

  • Starknet Foundation, the developers of Starknet - an Ethereum layer-2, announced the airdrop of STRK to roughly 1.3m eligible wallets. The qualifications for the STRK airdrop are mainly divided into three groups: Starknet users, developers and contributors to the ecosystem; Ethereum builders and stakers, and non-Web3 open-source developers.
  • Yuga Labs, the founder of the Bored Ape Yacht Club, announced the acquisition of Proof, which created the Moonbirds non-fungible token collection. Yuga Labs intention is to fold Moonbirds into its gamified, metaverse play, ‘the Otherside’.

Regulation Station

The Weekly Deal Room

  • Analog, a cross-chain communication tools for developers, raised $16m at a $120m valuation in a round led by Tribe Capital.
  • Etherna, a startup developing a new Ethereum-based stablecoin secured by derivatives, raised $14m at a $300m valuation in a Strategic Round co-led by Dragonfly Capital and Maelstrom.
  • Architect, a trading software for large investors like institutions, raised $12m in a Private Round co-led by BlockTower Capital and Tioga Capital.
  • Fordefi, an MPC wallet platform and web3 gateway that enables users to securely self-custody private keys, raised $10m in a Seed+ Round led by Electric Capital.
  • Concrete Protocol, an appchain built for on-chain debt and credit, raised $7.5m in a round co-led by Hashed and Tribe Capital.
  • Ultiverse, an AI-powered platform for Web3 game creation, raised $4m at a $150m valuation in a Strategic Round led by IDG Capital.
  • Witness, an infrastructure to make it easy for developers to take advantage of blockchains' power to verify crucial information, raised $3.5m in a Pre-Seed Round led by Haun Ventures.

Metric of the Week

Since Spot Bitcoin ETFs were launched, Gold ETFs have in aggregate seen almost $2 billion in net outflows while Bitcoin ETFs have seen net inflows of almost $4 billion.

240220 metric

Similar posts