Top Crypto News Of The Day: Bitcoin ETFs Inflows, Dapper Labs $4M Settlement, and More

cryptocurrency news
cryptocurrency news of the day

Here is the top crypto news of the day curated by

U.S. Spot Bitcoin ETFs See Record $105M Daily Inflows

U.S. spot bitcoin exchange-traded funds (ETFs) recorded a 15th consecutive day of net inflows on June 3. The 11 ETFs collectively added $105.12 million, pushing the total inflows during this streak to over $2.28 billion. 

Crypto news: US BTC Spot ETFs Chart

The cumulative net inflows for U.S. spot Bitcoin ETFs since their inception now stand at $13.96 billion. Fidelity’s FBTC led the way with $77 million in inflows. Additionally, Bitwise’s BITB and Ark Invest’s ARKB added $14 million and $11 million, respectively.

This 15-day positive streak is the second longest for U.S. spot Bitcoin ETFs, only behind the 17-day run in January. However, total trading volume remains lower than the peak in March.

Globally, crypto investment products attracted over $2 billion in May, lifting year-to-date net inflows above $15 billion, according to CoinShares.

Crypto News: NBA Top Shot NFTs Are Not Securities

Dapper Labs’ $4 million settlement agreement in a class-action lawsuit reaffirms that NBA Top Shot non-fungible tokens (NFTs) are not securities, CEO Roham Gharegozlou claims.

Top crypto news, Top Crypto News Of The Day: Bitcoin ETFs Inflows, Dapper Labs $4M Settlement, and More
Source: X

The settlement filing shows Dapper agreed to make changes to ensure its Flow blockchain is decentralized and out of its control.

Judge Victor Marrero had previously ruled the NFTs could be considered securities under the Howey test. The settlement still needs court approval.

Deutsche Bank Partners With Bitpanda for Real-Time Crypto Payments.

A new partnership between Deutsche Bank and Bitpanda will benefit German crypto traders. German crypto traders can now make real-time fiat deposits and withdrawals on Bitpanda.

The deal gives Bitpanda access to German IBANs via an API solution from Deutsche Bank, greatly enhancing transaction efficiency and security. All fiat transfers on Bitpanda will go through Deutsche Bank for real-time settlement.

As a key advantage of this collaboration, Bitpanda users in Germany will receive a local IBAN for easy deposits and withdrawals.

Another Crypto News of the Day: Roaring Kitty Faces Possible ETrade Ban 

Famed Reddit trader Keith Gill, known as Roaring Kitty, may be dropped from ETrade due to concerns over potential stock manipulation related to his recent GameStop (GME) holdings. Gill’s Reddit post showing over $200M in GME shares and options caused the stock to nearly double.

This reminds me of the 2021 meme stock frenzy, when Roaring Kitty and others boosted GME and AMC prices, causing big losses for short sellers. ETrade’s parent company, Morgan Stanley, had been monitoring Gill’s account.

Binance Updates Stablecoin Strategy Ahead of EU’s MiCA Regulation

Binance is preparing for the EU’s Markets in Crypto-Assets (MiCA) rules on stablecoins by dividing them into “regulated” and “unauthorized” categories based on compliance. The exchange will transition users from unauthorized to regulated stablecoins over time.

Top crypto news, Top Crypto News Of The Day: Bitcoin ETFs Inflows, Dapper Labs $4M Settlement, and More
Source: Binance

Initially, Binance will use a “sell-only” mode for unauthorized stablecoin conversions as few coins currently meet MiCA requirements. The changes aim to smoothly fulfill MiCA’s objectives when the regulation takes effect this month.

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