Appearing on the Diary of a CEO podcast, ARK Invest founder Cathie Wood said that the “green-light” approval of spot-Bitcoin exchange-traded funds in January 2024 has only just opened the gates to what she called an “institutional land-rush” for the asset. “Institutions have barely started committing,” she told host Steven Bartlett, adding that they control “trillions of dollars” yet have access to barely “a hundred-billion-dollar sliver” of new supply because just one million bitcoin remain to be mined. Why Cathie Wood Eyes $1.5 Million Per Bitcoin Wood framed the supply-demand mismatch in stark macroeconomic terms. With roughly 20 million BTC already in existence, US spot ETFs alone have vacuumed up more than 1.2 million coins—about 5.7 percent of the eventual supply—since launching eighteen months ago, according to Bitbo’s on-chain ETF tracker. Daily flow data show that even on a quiet trading day, funds such as BlackRock ’s IBIT and Ark-21Shares’ ARKB can collectively absorb tens of millions of dollars’ worth of bitcoin, occasionally draining hundreds of coins from open markets in a single session. “The SEC’s decision effectively legitimised bitcoin as an asset class,” Wood said, arguing that fiduciary pressure will force large wealth managers to follow early adopters. She compared the current migration to the early 1990s adoption of index funds: once one blue-chip pension moved, “others had to consider it” or risk underperforming. Pointing to her own firm’s experience—ARK first purchased GBTC at roughly $250 per coin in 2015—Wood said that scepticism from traditional finance often marks “the sweet spot” for long-horizon investors. Wood’s long-term thesis is explicitly monetary. Quoting her mentor Arthur Laffer, she called bitcoin “the rules-based global monetary system we’ve waited for since the US closed the gold window in 1971 .” Because bitcoin’s algorithmic issuance schedule is immune to fiscal or political tampering, she contends, it will attract central-bank reserves and corporate treasuries in jurisdictions where local currencies are chronically devalued by policy error. That dynamic, she argues, is accelerating: “Emerging-market savers need an insurance policy,” and for younger cohorts “digital gold” is already more intuitive than bullion. ARK’s revised base-case model now targets $1.5 million per bitcoin by 2030—more than a fifteen-fold gain from today’s price. The three biggest “building blocks,” Wood said, are institutional portfolio allocation, millennial and Gen-Z store-of-value demand, and grassroots adoption in inflation-prone economies via stablecoin rails. None of the current projections, she noted, assume a wholesale shift of sovereign reserves, nor do they model secondary demand from bitcoin-secured lending, both of which she believes could escalate if deficits and debt service costs keep climbing. Wood also linked bitcoin’s appeal to a broader macro backdrop of fiscal stress and waning confidence in fiat regimes. “Government spending is taxation—either now or through inflation,” she said, warning that persistent deficits threaten the dollar’s reserve-currency status and therefore heighten the allure of an apolitical ledger secured by “the largest computer network in the world.” While she acknowledged bitcoin’s volatility, Wood argued that maturation of derivatives markets and increased ETF depth are already dampening extreme price swings. With spot bitcoin ETFs now controlling a stockpile larger than the holdings of Satoshi-era wallets , Wood contends the supply shock has only begun. “There is no mechanism to create more than 21 million coins,” she told Bartlett. “If institutions want exposure, the price will have to adjust—dramatically.” Exactly how dramatic remains the $1.5 million question, but Wood’s warning is unambiguous: the slowest movers may discover they are trying to buy what the market can no longer readily supply. At press time, BTC traded at $107,200.
Data shows the demand for spot exchange-traded funds (ETFs) has cooled off for Bitcoin, while Ethereum has continued to attract inflows. Bitcoin Has Ended A Streak Of Positive ETF Flows In a new thread on X, the on-chain analytics firm Glassnode has talked about how the total balance of the US spot ETFs has changed for Bitcoin and Ethereum recently. The spot ETFs refer to investment vehicles that provide an alternate means of gaining exposure to a cryptocurrency’s price movements in a manner that’s familiar to traditional investors. Related Reading: Crypto Suffers $1 Billion Flush As Musk-Trump Feud Shakes Bitcoin These ETFs are a relatively new presence in the sector, but they have gained sufficient popularity to become a key part of the market. Investors who previously avoided digital assets due to the perceived complexity of wallets and exchanges can now invest through ETFs, which trade on traditional exchanges. The US Securities and Exchange Commission (SEC) approved the spot ETFs for Bitcoin back in January 2024. They got approval for Ethereum half a year later, in July 2024. First, here is how the balance held by the spot ETFs has changed for Ethereum since their inauguration: As displayed in the above graph, the total balance of the Ethereum spot ETFs has been on the rise recently. In fact, the cryptocurrency has now seen four straight weeks of net inflows. In all, 97,800 ETH have entered into the wallets associated with these ETFs during this green netflow streak. Though despite the continuous inflows, their total holdings are yet to hit the 3.81 million ETH peak from February, as they currently sit at 3.77 million ETH, about 41,000 tokens lower. “Accumulation is steady, but room remains for further upside,” notes Glassnode. Bitcoin has also seen growth in its spot ETF holdings recently, but unlike Ethereum, the number one digital asset saw the metric surpass its high from February last month. That said, while the Bitcoin spot ETFs were enjoying inflows until very recently, the trend has changed during the past week as net outflows have occurred instead. This has been the first negative week in eight for the BTC ETFs. “Total holdings are now 1.20M BTC, down ~11.5K BTC from the late-May peak,” explains the analytics firm. “A pause in demand after a strong run-up – watch for signs of re-acceleration.” Related Reading: Bitcoin RSI Dips Below 30—Is A New All-Time High Next? It now remains to be seen how things will develop in the coming days for the top two cryptocurrencies and whether the divergence that is starting to develop between them will only take further hold. BTC Price Bitcoin has seen a jump of about 2% during the past day and has recovered to $107,600. Featured image from Dall-E, Glassnode.com, chart from TradingView.com
SHIB transactions among large holders drop significantly
Airbnb’s super PAC is spending $1 million on an ad attacking three mayoral candidates, while the company is also asking city leaders to loosen short-term rental rules. In the 30-second ad shared by Politico , a narrator warns that Democrats Zohran Mamdani, Scott Stringer and Brad Lander would make life costlier by blocking short-term rentals. The ad shows a New York Post headline about Mamdani’s proposed tax increase, alongside a message that these candidates reject “common-sense solutions” to lower living costs. It began airing on Monday across streaming, digital, and social platforms. The ad was made by a group called Affordable New York, which supports Andrew Cuomo. By showing what his rivals believe, the ad makes Cuomo look like a moderate choice. The Hotel and Gaming Trades Council has backed Cuomo, and their super PAC will put $1 million into his mayoral campaign. An Airbnb spokesperson said the group could invest another $1 million before the June 24 Democratic primary. But Bhav Tibrewal, the political director for the hotel union, criticized the move. He noted that Cuomo had clashed with unregulated rentals as governor and vowed to protect tenants and workers if elected mayor. Airbnb pushes for single-family rental exemptions amid union opposition Airbnb has urged the City Council to exempt one- and two-family homes from strict short-term rental rules, a proposal the hotel union strongly opposes. Under state law, renting a home for fewer than 30 days when the host is away is illegal. Since 2022, the city has required hosts to register, which has cut many unlawful listings. Last November, Council Member Farah Louis, backed by Speaker Adrienne Adams, introduced a bill to allow Airbnb in one- and two-family houses. After talks with the hotel union and amid “significant legal concerns,” the council quietly removed key sections of the measure in February, Louis said. Those changes halted the most controversial parts of the plan. Adams, who is also running for mayor, has not been targeted by Airbnb’s ads. The company appears to focus its criticism on candidates openly opposing its proposed exemptions for small homeowners. Stringer, who once managed the city’s finances and has often criticized Airbnb, also doesn’t want the short-term rental rules relaxed. All three say that letting Airbnb grow would make housing harder to find and push rents up. “Affordable New York was set up to back everyday New Yorkers who depend on short-term hosting for income,” said super PAC spokesperson Michael Blaustein. “These candidates keep spreading a misleading story that hosts are causing the housing crisis, despite data showing otherwise. Their rhetoric shields special interests instead of helping New Yorkers.” Lander’s campaign spokesperson, Dora Pekec, added, “While Andrew Cuomo is funded by huge corporations trying to buy their way into City Hall, Brad Lander is a man of the people and can’t be bought.” In his own statement, Stringer noted, “This isn’t the first time Airbnb has spent money to defeat me in my fight for affordable housing. I hope they used my good side in their picture.” Cryptopolitan Academy: Want to grow your money in 2025? Learn how to do it with DeFi in our upcoming webclass. Save Your Spot
Bitcoin has surged beyond the $110,000 threshold, driven by robust institutional investment and significant spot BTC ETF inflows, marking a pivotal moment in cryptocurrency adoption. This upward momentum reflects growing
The SEC chairman’s support for DeFi means new rules and opportunities
The post Top Reasons Why Ethereum (ETH) Price Will Reach $2,800 This Week appeared first on Coinpedia Fintech News As Bitcoin (BTC) price rallied above $110k on Monday, June 9, Ethereum (ETH) price jumped over 7 percent in the last 24 hours to trade about $2,686 during the late North American trading session. The large-cap altcoin, with a fully diluted valuation of about $323 billion and a 24-hour average trading volume of around $19 billion, rebounded from the lower border of a consolidation level of around $2,480. As a result, the ETH price has been retesting a crucial local resistance level around $2,681, whereby the Ether price was rejected four times in the past four weeks. Major Reasons Ethereum Price Will Rally Higher This Week Strong Institutional Adoption and ETF Flows According to market data analysis from CoinShares, Ethereum’s investment product dominated last week’s cash inflow with about $296 million. Notably, Ether’s investment product outpaced Bitcoin’s, which recorded a net cash outflow of about $56.5 million last week. As Coinpedia had reported , BlackRock’s ETHA has recorded significant cash inflows in the past two weeks, suggesting a strong demand from institutional clients. Altseason Sentiment Ethereum price is well positioned to rally towards a new local high this week fueled by the rising narrative of altseason 2025. With Bitcoin dominance signaling an imminent market reversal, more crypto investors are betting on a major altcoin rally in the near future. Furthermore, the ETH/BTC pair is heavily oversold in the weekly timeframe, amid the recent market reversal. Regulatory Clarity Earlier on Monday, the U.S. Chair Paul Atkins highlighted that American crypto investors have the right to self-custody of crypto assets. Additionally, Chair Atkins highlighted that a new and clear set of DeFi regulations are needed to foster the development of the nascent blockchain technology. With Ethereum harboring the largest DeFi space, with a total value locked (TVL) of about $63 billion and a stablecoins market cap of around $124 billion, the altcoin is well positioned to rally further in the near future.
At WWDC 2025, Apple introduced AI-powered updates and UX design overhaul—but the AI hype was taken down a notch.
Nasdaq’s inclusion of XRP and other major cryptocurrencies into its benchmark crypto index marks a significant milestone, potentially enhancing institutional adoption and market visibility for these digital assets. The strategic
Bitcoin soared above the $110,000 mark late Monday for the first time in nearly two weeks, buoyed by optimism surrounding renewed trade discussions between the United States and China. The price jump also triggered a wave of short liquidations as the rally gained momentum. The world’s largest cryptocurrency by market capitalization recently traded at around $110,286 , marking a 3.6% gain over the past 24 hours. Bitcoin is now up nearly 5% over the last seven days, rebounding from a dip below $101,000 on June 5—a pullback that capped a broader decline dating back to late May. With BTC now nearing its all-time high of $111,814 set in May, market watchers are taking note. “Bitcoin breaking above $110,000 for the first time in two weeks signals renewed bullish momentum after a period of consolidation,” said Joe DiPasquale, CEO of crypto investment firm BitBull Capital. “If BTC can hold this level, it may set the stage for a fresh push toward the $120,000 range.” Other major altcoins also rose. Ethereum (ETH), the second cryptocurrency by market cap, gained 4.5% to more than $2,679, and Solana (SOL) added more than 3% to hover close to $160. Even meme coins, which have struggled in recent weeks, showed signs of recovery. Dogecoin jumped 4.5%, and Shiba Inu added 2.5%. Crypto IPO boom and trade talks fuel Bitcoin’s climb The market’s uplift coincides with renewed talks between Washington and Beijing over longstanding trade tariffs—discussions that have soothed broader investor nerves. Investors seem optimistic about the potential for resolving trade disputes between the US and one of its largest trading partners. Treasury Secretary Scott Bessent and China’s vice premier for economic policy, He Lifeng, will lead their respective delegations in negotiations expected to continue on Tuesday. Equities responded modestly, with the Nasdaq and S&P 500 edging slightly on the day. Another factor contributing to Bitcoin’s price surge is increased crypto-related IPOs . Last week, stablecoin giant Circle went public on the New York Stock Exchange and saw its shares pop over 168%, jumping from $31 to $69 within the first day of trading. Gemini, a crypto exchange founded by the Winklevoss twins, also filed for an IPO According to David Siemer, CEO of crypto asset management company Wave Digital Assets, while the IPO bump is likely short-term excitement, the long-term institutional positioning leads us to be bullish about Bitcoin’s continued performance in 2025. Bitcoin shorts crushed as $323M liquidated in a day In the past 24 hours, close to $323 million of crypto short positions have been liquidated, CoinGlass data shows. Most of the damage was in Bitcoin, which saw around $196 million worth of liquidations. The liquidations come amid mounting macroeconomic pressures and renewed trade tensions, which have rattled investor confidence. Spot Bitcoin ETFs have seen outflows in five of the last seven trading sessions, reflecting the cautious sentiment. In contrast, Ethereum ETFs have enjoyed a streak of positive momentum, notching 15 consecutive days of inflows. 10X Research wrote in a report released Monday morning that Bitcoin is testing a breakout level, and the market setup appears significantly different from what most investors anticipated just weeks ago. According to the report, negative funding rates, a pattern of market bottoms, and a surprising surge in spot demand combine to create a high-conviction signal. Cryptopolitan Academy: Want to grow your money in 2025? Learn how to do it with DeFi in our upcoming webclass. Save Your Spot