🌊 Friday Bitcoin Flows

Your Daily Bitcoin Flows update

Good morning.

Welcome to Flow State.

Where the bitcoin flows, we follow.

Let’s dive in.…🌊🌊🌊

  • Fidelity published a research report all about adding Bitcoin to corporate treasuries (details below).

  • Quantify Funds has launched a ‘stacked’ Bitcoin and Gold ETF, providing exposure to both assets via ETFs and futures.

  • Coinbase filed Freedom of Information Act requests in relation to the SEC investigation of the exchange. Coinbase’s Chief Legal Officer said (of the SEC): “This is no way to regulate. And this is no way to operate a transparent government.”

  • BlackRock’s Jay Jacobs released a promotional video talking about what IBIT investors are saying about the Bitcoin ETF, what they’re excited about, and what the role of Bitcoin can be in portfolios.

  • Van Eck filed the first applicaton with the SEC for a spot Solana ETF.

  • Joe Lonsdale, Palantir Founder and VC, wrote in The Economist about why he’s supporting Donald Trump this year.

No major moves from any one cohort yesterday. Apart from, proportionately, the Shrimps.

MSTR and COIN had the best days, but otherwise pretty mellow.

Speaking of MSTR, here’s the most interesting snipper from that Fidelity report on using bitcoin as a treasury reserve asset. The table below lists the major risks associated with “managing cash”, and details how Bitcoin addresses them.


On what was a light flow day overall, Bitwise came in at the head of the pack with 130 BTC inflows ($8m).


Fidelity made it three inflow days in a row, bringing in 110 BTC ($6.7m).


Grayscale their way to outflows as they so often do, sending out 185 BTC ($11.4m)

🧮 Total

Overall as mentioned it was a slow one yesterday. But it was the third day of inflows in a row, with 191 BTC ($11.8m) coming in.

Those are the Flows this Friday.

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

Julian Fahrer

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