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Bitcoin ETFs post $84M net outflow after three-day inflow streak
U.S. spot Bitcoin ETFs recorded $84 million in net outflows on Wednesday, ending a three-day stretch of inflows that had attracted around $509 million from investors.
Elon Musk says SpaceX’s future valuation could exceed any limits
Elon Musk believes SpaceX’s valuation could reach unprecedented levels if the company achieves its long-term objectives.
The billionaire entrepreneur made the remarks on X while replying to a user who questioned whether the May agreement involving SpaceX, xAI, and Anthropic could become one of the biggest strategic errors in the AI sector.
Musk said that successfully completing SpaceX’s mission could make the company worth more than the rest of the world combined.
Meanwhile, the SPCX ETF recovered from recent weakness, rising 2.6% on Thursday to $152.16.
Kevin Warsh appoints experts, including Marc Andreessen, to new Fed task forces
Federal Reserve Chair Kevin Warsh has announced five new task forces aimed at reviewing the central bank’s policies, communication strategies, and analytical tools.
Warsh said the economy has changed dramatically over the past generation, making it important to evaluate whether the Fed’s current approaches remain effective.
The newly formed groups will focus on:
- Communication Strategy: Improving how the Fed explains decisions and handles uncertainty.
- Balance Sheet Policy: Studying the impact and long-term consequences of the Fed’s balance sheet operations.
- Economic Data: Enhancing the quality and timeliness of information used for policymaking.
- Productivity and Jobs: Examining how AI and emerging technologies influence employment and economic growth.
- Inflation Frameworks: Reassessing how inflation drivers are understood and managed.
Marc Andreessen, a major advocate for AI-led productivity growth, will join the Productivity and Jobs task force along with Microsoft Xbox CEO Asha Sharma. Former Walmart CEO Doug McMillon will participate in the Data group.
Nasdaq rallies as oil and bond yields decline; Bitcoin remains near $63K
U.S. stock markets gained ground Thursday as easing crude prices and lower Treasury yields improved investor sentiment.
The Nasdaq climbed 1.25%, supported by strong performances from AI-focused stocks such as Micron, SanDisk, and AMD.
Concerns linked to the Iran conflict faded, pushing WTI crude prices closer to $70 per barrel while government bond yields declined.
Bitcoin stabilized above $63,000, gaining 1.6% over the past 24 hours, while Ethereum advanced 0.75% to $1,751.
STRC continues trading below par despite Strategy’s dividend support measures
Strategy and Michael Saylor have taken additional steps to strengthen confidence in STRC and other preferred stock offerings.
The company recently sold nearly 4,000 BTC and placed the proceeds into a reserve fund intended to support dividend payments. With additional reserves included, Strategy now has approximately 17.4 months of dividend coverage.
Despite approaching the level considered safe by institutional investors, STRC remains below its $100 par value. Trading near $85, the preferred shares continue to reflect investor concerns.
AI data center companies may be undervalued, Compass Point says
AI infrastructure firms connected to Bitcoin mining could be trading below the value of their existing contracts, according to research from Compass Point.
The firm suggested investors should evaluate AI data centers as income-generating infrastructure assets rather than focusing only on future development plans.
Applied Digital was cited as the clearest example, with its signed contracts estimated to be worth about $27.6 billion after construction expenses, compared with an enterprise value of roughly $16.7 billion.
The report also highlighted TeraWulf and Cipher Mining as potentially undervalued, while Core Scientific and Riot Platforms have already gained more market recognition for their existing agreements and expansion plans.
MARA jumps 14% after acquiring Texas power site
MARA Holdings shares surged 14% after the company agreed to purchase a major powered land site in Matagorda County, Texas, from HIF.
The 1,200-acre property is expected to provide access to up to 2 gigawatts of power capacity by 2028, supporting AI data centers, high-performance computing, and Bitcoin mining.
The acquisition could increase MARA’s total potential power capacity to around 4.8 gigawatts as the company expands into digital infrastructure.
Zuckerberg unveils Muse Spark 1.1 AI model after X return
Meta CEO Mark Zuckerberg returned to X after three years to introduce Muse Spark 1.1, the company’s latest large language model focused on AI agent capabilities.
The model supports a one-million-token context window and allows tasks to be distributed among multiple AI agents.
Zuckerberg claimed Muse Spark 1.1 surpassed Google Gemini 3.1 Pro, OpenAI GPT-5.5, and Anthropic Opus 4.8 in important agent-related benchmarks.
The announcement comes as Meta prepares to manufacture its own “Iris” AI chip beginning in September. Meta shares were slightly lower at $598.65.
Bitcoin rebounds toward $63K as crypto market recovers
Bitcoin moved back toward $63,000 on Thursday as digital assets attempted to recover after Wednesday’s sharp decline.
BTC gained 2.4% over 24 hours, while Ethereum, XRP, and Solana also posted gains.
The broader market improved, with the Nasdaq rising 0.7% and the S&P 500 increasing 0.5%.
Falling oil prices and easing Treasury yields helped reduce pressure on risk assets after renewed Iran tensions triggered market uncertainty.
AI chip stocks rise as Meta expands custom semiconductor plans
Semiconductor shares advanced after Meta announced plans to begin producing its own “Iris” AI chip in September.
The move is designed to increase computing capacity while reducing Meta’s reliance on Nvidia and AMD.
The development could benefit suppliers such as Broadcom, TSMC, Samsung, and SanDisk, while lifting semiconductor-focused ETFs.
Meta plans to invest up to $145 billion in AI infrastructure this year.
Bitcoin options indicate caution, but fear remains below crisis levels
Bitcoin’s options market continues to show defensive positioning, with the 25-delta skew reaching 18%, indicating increased demand for downside protection.
The reading reflects investor concerns as Bitcoin trades above $62,000, but it remains far below the extreme fear levels seen during the 2022 FTX collapse, when the skew surpassed 40%.
Current conditions suggest cautious positioning rather than widespread market panic.
Amazon’s $25B bond sale highlights weaker investor demand for AI financing
Technology companies are increasingly turning to debt markets to fund large-scale AI infrastructure investments.
However, investor enthusiasm appears to be cooling. Amazon’s $25 billion bond offering attracted demand of about 1.6 times the available amount, below the average level seen in recent major tech debt deals.
SK Hynix U.S. listing draws strong demand despite South Korea market weakness
SK Hynix’s planned U.S. listing received investor demand exceeding seven times the number of available shares, attracting interest from global funds, sovereign wealth investors, and technology-focused institutions.
The offering of nearly 178 million American depositary receipts could raise close to $25 billion.
Despite strong demand, South Korean AI-related stocks faced volatility, with Samsung and SK Hynix shares falling sharply. Bitcoin remained near $62,700 as investors continued shifting capital toward AI infrastructure opportunities.
Oil prices retreat while Treasury yields stabilize
Crude prices declined as markets evaluated renewed tensions between the U.S. and Iran following the collapse of a ceasefire.
Brent crude fell below $73 per barrel, while Bitcoin gained roughly 1% to trade near $63,000.
Gold and silver recovered from recent losses, while Treasury yields stabilized after Wednesday’s increase. The 10-year yield remained above 4.5%, keeping pressure on risk assets.
Bitcoin ETFs return to outflows as Ethereum funds continue attracting capital
U.S. spot Bitcoin ETFs saw approximately $85 million in net outflows on Wednesday, ending a three-day inflow streak that had generated about $509 million in new investment.
BlackRock’s IBIT recorded around $59 million in withdrawals, Grayscale’s GBTC lost nearly $64 million, and Fidelity’s FBTC saw about $15 million leave the fund. Grayscale’s Bitcoin Mini Trust was the only major ETF to record inflows, adding nearly $53 million.
Bitcoin ETF assets declined to around $75 billion.
At the same time, Ethereum ETFs extended their positive streak with roughly $70 million in inflows for a fifth consecutive session. Fidelity’s FETH accounted for nearly all of the gains with around $69 million.
Bitcoin traded near $62,300 and Ethereum around $1,740, with both assets down approximately 3% on the day. Ethereum’s recent strength has been supported by renewed ETF demand and progress on its broader ecosystem roadmap.
