The Assets

Daily Report 24 June 2025

Digital Assets Daily Report -

The S&P 500 futures (+1.0%), European stocks (Stoxx 600 +1.4%, Dax +2.0%), and Asian markets all surged after President Trump announced a US-brokered ceasefire ending the 12-day Middle East conflict, with oil prices plunging over 7% as Brent crude fell to $68 per barrel. Markets were further boosted by Fed officials Michelle Bowman and Christopher Waller signaling potential rate cuts as early as July, while Tesla had surged 8.23% on its Austin robotaxi launch and energy stocks declined on falling crude prices, as investors await Fed Chair Powell's congressional testimony for further monetary policy guidance.

  • The global crypto market cap increased 4.44% in the past 24 hours to $3.26tn. The total crypto market 24h volume increased 10% to $150bn.
  • In the past 24 hours, crypto liquidations decreased by 28% and totaled $471m, with 76% of them short positions. BTC positions and ETH positions each made up 39% of all liquidated positions.
source: Coinglass
  • According to data from SoSo Value, Bitcoin ETFs staged a strong rebound on June 23, attracting $350.4 million in net inflows—almost 55x more than the $6.4 million recorded on the previous session on June 20. Trading volume surged to $4.44 billion as investor appetite returned, with BlackRock's IBIT leading the charge with $217.6 million in inflows while Fidelity's FBTC added $105.7 million. Even Grayscale's GBTC, typically an outflow source, recorded only a modest $5.7 million redemption. Total assets across all spot BTC ETFs climbed to $126.6 billion, while cumulative net inflows reached a new high of $47.01 billion. The resurgence suggests the recent lull was temporary, with institutional demand quickly returning as Bitcoin stabilized.
  • According to data from SoSo Value, Ethereum ETFs bounced back strongly on June 23, recording $100.8 million in net inflows after posting outflows of $11.3 million three days earlier. Trading volume jumped to $834.2 million as renewed interest drove the turnaround, with Fidelity's FETH leading the pack with $60.5 million in inflows, followed by BlackRock's ETHA at $25.8 million. Even Grayscale's higher-fee ETHE managed to attract $9.0 million despite its 2.50% expense ratio. Total assets across all spot ETH ETFs stood at $9.29 billion, while cumulative net inflows reached $4.00 billion since launch. The sharp reversal suggests Ethereum ETFs are finding their footing after initial volatility, though they remain significantly smaller than their Bitcoin counterparts.
US BTC ETF Flows - source: SoSoValue
US ETH ETF Flows - source: SoSoValue
  • Metaplanet has added 1,111 Bitcoin to its corporate treasury, bringing its total holdings to 11,111 BTC, which is just 398 BTC shy of Tesla's current Bitcoin stash.
  • Michael Saylor, founder of MicroStrategy, purchased an additional 245 Bitcoin, reaffirming his long-term prediction that the cryptocurrency's price will reach $21 million in 21 years, as part of his ongoing investment strategy in Bitcoin.
  • long-term bitcoin holders now control a record 14.53 million bitcoins according to Glassnode and Gemini in their recent report. “Over 30% of Bitcoin’s circulating supply is now held by just 216 centralized entities — including ETFs, exchanges, custodians, and corporate treasuries,” they noted.
  • Hyperliquid's HYPE token has surged over 300% since April, as the decentralized exchange built by Harvard classmates Jeff Yan and Iliensinc now dominates 70% of the perpetuals trading market. The platform, which launched in 2023 without external funding, distributed tokens via airdrop in November 2024 and recently attracted Nasdaq-listed Lion Group to hold $600 million in HYPE as its primary treasury asset. However, critics question whether the token's $38 billion fully diluted valuation is sustainable despite the protocol's strong fundamentals and fee buyback program.
  • Grant Cardone's $5.1 billion real estate investment firm Cardone Capital purchased 1,000 Bitcoin worth $101 million, announcing Saturday it plans to acquire another 3,000 BTC this year as part of a new treasury strategy combining real estate and crypto. The billionaire entrepreneur said the firm is becoming the "first ever real estate/Bitcoin company integrated with full BTC strategy," building on its May launch of the 10X Miami River Bitcoin Fund that paired a 346-unit Miami property with $15 million in Bitcoin. Cardone Capital, which launched in 2017 and manages over 14,000 residential units, will rank above mining firms Core Scientific and Cipher Mining in Bitcoin holdings following the purchase.