• The Fed is expected to leave interest rates where they are at today’s FOMC meeting, after three disappointing months for inflation in a row.

• Coinbase has integrated Bitcoin’s Lightning network, allowing faster and cheaper bitcoin withdrawals.

• Roger Ver, early bitcoiner (and subsequent defector to Bitcoin Cash), has been indicted and arrested in Spain for tax evasion.

• Adam Back argues that the Hong Kong bitcoin ETFs had a strong start - taking into account the size of their market.

🇺🇸 United States

🥇Ark

ARKB was the lone source of inflows on Tuesday, taking in 60 BTC ($3.6m).

🦨 Grayscale

GBTC outflows picked up yesterday, consistent with the BTC price dip. Outflows of 1540 BTC ($95m), bringing their total held down to 323,000 BTC.

🧮 Total

It was a rough day for bitcoin overall on Tuesday, and this was reflected in how ETFs faired: around 2.7k BTC sold off ($162m). Thanks largely to GBTC (above), and the rest of the outflows coming from Fidelity (~570 BTC) and Bitwise (~590 BTC).

🇭🇰 Hong Kong

Hong Kong had the day off for a public holiday. Lucky them!

Notable names from Tuesday’s 13F filings include:

• Harel Insurance Investments: a public Israeli company which aside from being the largest insurer in Israel, also has a substantial asset management division and a (small) GBTC allocation.

• Van Eck: who are dogfooding their own bitcoin ETF to the tune of 1.25m shares ($82m).

That’s the state of bitcoin flows for this Wednesday.

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I’ll see you back here tomorrow.

— Julian