The Assets

Daily Report 3 June 2025

Digital Assets Daily Report -

Global markets edged higher, with the Dow Jones (+0.08%), S&P 500 (+0.41%), and Nasdaq (+0.67%) all gaining ground. The dollar slid towards a 3-year low, stoking economic fears amid weak US data. Trade tensions remained in focus, with the US set to raise tariffs on steel and aluminum, while China accused the US of violating a trade truce. The EU restricted Chinese medical devices, and India and Europe made progress on a trade deal, agreeing on nearly half of the chapters. Meanwhile, concerns over global imbalances and recession risks lingered, with the OECD warning of significant GDP loss from aggressive supply chain reshoring.

  • In crypto, the global crypto market cap increased 1.4% in the past 24 hours to $3.32tn. The total crypto market 24h increased 26% to $113bn.
  • In the past 24 hours, crypto liquidations increased 32% and totaled $205m, with 67% of them short positions.
source: Coinglass
  • US spot Bitcoin ETFs posted $267.52 million in net outflows on Monday, June 2, extending the recent drawdown to over $1.24 billion since May 30. Bitwise’s BITB was the sole fund to record a positive inflow, bringing in $3.41 million, while every other issuer saw flat or negative flows. Heavy redemptions continued at BlackRock’s IBIT (–$130.44 million), Grayscale’s GBTC (–$16.47 million), and Fidelity’s FBTC (–$50.11 million), highlighting concentrated pressure in the largest vehicles.
    Total trading volumes declined to $2.33 billion, their lowest in over two weeks, while total assets under management fell to $125.47 billion. With flows decisively turning negative after a strong May rally, the market appears to be consolidating, as investor sentiment turns more selective and cautious heading into the new month.
  • US spot Ethereum ETFs recorded $78.17 million in net inflows on Monday, June 2, marking the 11th consecutive day of positive flows since May 16. BlackRock’s ETHA and Fidelity’s FETH led the pack with $48.40 million and $29.78 million in new capital respectively, continuing their dominance of new ETH allocations. All other funds posted flat flows, with no redemptions across the board.
    Despite modest trading volumes of $393.06 million, investor interest remains resilient, bringing cumulative net inflows to $3.12 billion and total assets to $9.37 billion. The sustained streak underscores growing institutional confidence in Ethereum ETFs, even amid a broader pullback in crypto markets.
US BTC ETF Flows - source: SoSoValue
US ETH ETF Flows - source: SoSoValue
  • Blockchain investigator ZachXBT reported that the Bitopro crypto exchange was potentially exploited for $11.5 million worth of cryptocurrency on May 8.
  • Singapore's central bank has given local cryptocurrency firms targeting overseas markets a June 30 deadline to halt operations or face penalties, including fines of up to nearly $200,000, in a bid to regulate their activities.
  • Robinhood has acquired Bitstamp, the world's longest-running crypto exchange, for $200 million, to expand its institutional crypto offerings into Europe, the UK, and Asia.
  • Metaplanet has become the ninth-largest corporate bitcoin holder after purchasing over 8,888 BTC for $117.9 million, surpassing Galaxy Digital and solidifying its position as a major player in the corporate bitcoin holdings landscape.
  • The crypto platform Norwegian Block Exchange's shares jumped 138% on June 2 after the company announced it had bought 6 Bitcoin and planned to make additional purchases.
  • 21shares is reducing the cost per share of its flagship bitcoin ETF to make it more attractive to retail investors and increase its competitiveness in the market.
  • Russia's largest commercial bank, Sber, has launched a bitcoin-linked bond product that is currently trading on over-the-counter markets and may soon be listed on the country's top stock exchange.
  • Michael Saylor continued his Bitcoin accumulation strategy in the last week of May by buying $75.1 million worth of BTC.
  • In a June 1 X post, Binance co-founder Changpeng "CZ" Zhao has proposed launching a dark pool perpetual decentralized exchange to protect large traders from front-running and Maximal Extractable Value attacks by enabling them to execute trades privately.
  • According to SOL Strategies financial report, SOL Strategies (CSE: HODL) reported a $3.5M net loss in Q2 2025, even as staking and validator revenue surged to $1.85M from just $67K a year earlier. The company boosted its Solana and Sui holdings while cutting Bitcoin, and despite rising crypto income, high operating costs dragged earnings. It also filed plans to raise up to $1B to support further growth.
  • Circle has increased its IPO target to $896 million due to rising investor interest, growing stablecoin adoption, and a more favorable US regulatory environment, reflecting increased confidence in the company's growth prospects.