ETH ETF inflows now rival Bitcoin, while BTC exchange inflows reach $9.4 billion following CPI data. Legislative hurdles persist as House votes on crypto bills.
Ethereum (ETH) and Dogecoin (DOGE) are leading a surge in major cryptocurrencies, with ETH ETF inflows now accounting for 50-90% of Bitcoin (BTC) inflows. BTC inflows to exchanges have reached $9.4 billion following the Consumer Price Index (CPI) report. The House has failed to advance key crypto legislation, with a vote scheduled today. Former President Trump suggests that 11 representatives who opposed crypto initiatives may change their stance. Additionally, leaders in decentralized finance (DeFi) have voiced opposition to parts of the proposed crypto bill. Cantor is nearing a $4 billion SPAC deal to acquire Bitcoin, while analysts at Deutsche Bank indicate BTC is entering a more sustainable phase. Sharplink's stock has surged to $30 as it increases ETH holdings, and Coinbase (COIN) stock has reached an all-time high, surpassing a $100 billion market cap. Peter Thiel has acquired a 9% stake in ETH treasury firm BMNR. The Department of Justice has concluded its investigation into Polymarket, while BigONE exchange suffered a $27 million loss due to a hack. The DEA has seized $10 million in crypto linked to the Sinaloa cartel, and the UK is pushing for advancements in distributed ledger technology (DLT) and tokenization.