After crossing $65.5k yesterday, BTC fell back sharply to briefly trade below $63k. However, it is getting support from long-term trends as money started flowing back into BTC through ETFs with all spot BTC ETFs, including Grayscale, recording their first-ever net inflows.
In other major altcoin news, BlackRock’s BUIDL fund, through Securitize markets, has posted a proposal on the Arbitrum governance forum. The proposal, if accepted, would mean that the world’s largest asset manager’s crypto fund will be on two chains, Ethereum and Arbitrum. This could likely be bullish for Arbitrum which is sitting at quite a low price from its recent highs.
On the other hand, the US SEC has issued a Wells notice to the Robinhood crypto exchange alleging that Robinhood is providing customers with digital assets which they categorize as securities, without registering with the market regulator.
