🌊 Tuesday Bitcoin Flows

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• Matthew Sigel at Van Eck offers his take on recent Bitcoin price action, and says “We continue to advocate a dollar cost average strategy to buy Bitcoin up to a target weight, seeing 6% as a reasonable position size.”

• The Republican National Committee officially adopted Bitcoin as part of their party platform, promising to protect the rights of Americans to both mine and self-custody their digital assets.

• Ron Hammond at the Blockchain Association has a breakdown of all the upcoming crypto-related action in the US Congress this week.

• Bitfinex analysts suggest that Bitcoin may be at a ‘local bottom’.

• The German Government continues selling off the stack of BTC they confiscated from a movie piracy company, sending another 1000 BTC to exchanges over the past 24 hours.

• Van Eck filed their 19b-4 Form with the SEC, seeking approval for the first spot Solana ETF.

• David Bailey discusses how he met with Donald Trump to discuss why Bitcoin is a “strategic asset of the United States.”

The back and forth between Sharks and Whales continues, with the Whales getting the upper hand over the past week.

But as you know, there are always outliers in every cohort. Right now, there’s one particular Bear-Whale bucking the trend, and that’s the German government.

Below you can see their BTC balance trending down over the past couple of weeks, and then take a huge nosedive over the past couple of days.

Slow start to the week on Wall Street. HUT and HIVE were the only real gainers.

🥇BlackRock

BlackRock buyers saw the blood in the streets, and they got busy. IBIT brought in 3320 BTC ($188m) yesterday - their biggest inflow day in a month. Their total holdings climbed up above 310k BTC for the first time too.

🥈Fidelity

Fidelity wasn’t messing around either. There was cheap Bitcoin for the taking yesterday, and they made sure to get some. 1100 BTC ($62m), to be precise.

🥉Grayscale

In case you needed any more encouragement to buy the dip, just know that Grayscale (!) is way ahead of you. They snapped up 450 BTC ($25.5m).

🧮 Total

It was a big net inflow day overall, with 5240 BTC ($297m) coming into the ETFs. That’s the best day since 5 June, and brings the total net inflows back up to 257k BTC since launch.

Want to make sure you don’t write like ChatGPT? Probably best to avoid using words like “delve”, “crucial”, and “significant” where you can.

Research shows the frequency of these words has exploded in scientific papers since LLMs became widely used a year or so ago.

And in other news, there’s been a significant fall in the number of people who believe that scientists are competent and trustworthy, over just the past year…

Those are the Flows this Tuesday.

Thanks for reading, and I’ll see you tomorrow.

— Julian