BlackRock Bitcoin ETF has made significant strides, surpassing 800,000 BTC in assets under management. This milestone was achieved less than two years after the ETF began trading in January 2024. BlackRock’s IBIT has now accumulated 802,197.8 BTC, valued at approximately $98 billion, marking a remarkable inflow streak of $4 billion.
For context, BlackRock’s holdings now account for about 3.8% of Bitcoin’s total supply of 21 million, placing it ahead of prominent Bitcoin treasury holders like Michael Saylor’s company, which holds 640,031 BTC. The fund is rapidly approaching the $100 billion AUM milestone, setting a record pace in ETF history. Recent inflows have catapulted the combined U.S. spot Bitcoin ETFs to attract over $5.7 billion in just eight days.
PayPay’s Strategic Stake in Binance Japan
In another significant development, PayPay, a SoftBank Corp. group company, has acquired a 40% equity stake in Binance Japan. This strategic move aims to merge PayPay’s extensive 70 million-user network with Binance’s blockchain expertise, fostering wider Web3 access across Japan.
The collaboration will allow Binance Japan users to directly engage in crypto transactions using PayPay Money within the Binance app, marking a major step forward in integrating fiat payments with crypto transactions nationwide. Executives from both companies emphasize that this partnership will provide secure and seamless integration between digital payments and cryptocurrencies.
JPMorgan’s Cautious Outlook for Solana ETFs
JPMorgan analysts have projected that Solana ETFs may soon receive approval from the Securities and Exchange Commission. However, they anticipate modest inflows of approximately $1.5 billion in the first year, citing Solana’s relatively smaller DeFi presence and subdued investor sentiment as contributing factors.
The analysts also warn of potential investor fatigue and competition from broader crypto index and treasury products, which could affect the anticipated inflows. The SEC has recently simplified the process for crypto ETF listings by introducing generic standards, spurring a wave of new proposals.
Meanwhile, Kraken is expanding its reach beyond crypto by offering access to CME futures, including commodities like oil and gold. This move follows Kraken’s $1.5 billion acquisition of NinjaTrader and is part of its strategy to challenge established brokerages and expand into traditional asset classes.
In a separate development, Ocean Protocol has withdrawn from the Artificial Superintelligence Alliance, aiming to reposition its OCEAN token for independent listing on major exchanges. The foundation plans to secure future development funding and engage in a buyback strategy to reduce token supply.
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