U.S. Bitcoin ETFs see $84M outflow, ending three-day streak of inflows
U.S. spot Bitcoin ETFs recorded a net outflow of $84 million on Wednesday, snapping a three-day run of positive inflows that brought in approximately $509 million.
Elon Musk says SpaceX’s valuation potential has no upper limit
Elon Musk claimed SpaceX could achieve an unprecedented valuation if the company successfully reaches its long-term goals.
The Tesla and SpaceX CEO made the statement on X while responding to a user who questioned whether the May agreement involving SpaceX, xAI, and Anthropic could become the biggest strategic mistake of the AI industry.
Musk argued that if SpaceX accomplishes its objectives, the company’s value could surpass that of the entire global economy.
Meanwhile, SPCX shares recovered slightly from recent weakness, rising 2.6% on Thursday to $152.16.
Kevin Warsh launches Fed task forces with Marc Andreessen among advisers
Federal Reserve Chair Kevin Warsh has introduced five new task forces designed to examine how the central bank’s policies, tools, and communication methods can evolve alongside a changing economy.
Warsh said the U.S. economy has experienced major shifts over the past generation, making it necessary to reassess the Fed’s approach to policymaking.
The newly created groups will focus on:
- Communication: Improving how the Fed communicates decisions during uncertain periods.
- Balance Sheet Policy: Reviewing the impact and effectiveness of the central bank’s balance sheet strategy.
- Data: Strengthening the quality and speed of economic data used in policymaking.
- Productivity and Jobs: Studying how technologies such as AI affect economic growth and employment.
- Inflation Frameworks: Revisiting how inflation trends are analyzed and addressed.
The Productivity and Jobs group includes venture capitalist Marc Andreessen, a strong supporter of AI-driven productivity gains, along with Microsoft Xbox CEO Asha Sharma. Former Walmart CEO Doug McMillon will help lead the Data task force.
Nasdaq rises as oil prices decline and yields retreat; Bitcoin holds above $63K
U.S. equities advanced Thursday as easing oil prices and lower bond yields improved market sentiment.
The Nasdaq gained 1.25%, boosted by strong performances from AI-related companies including Micron, SanDisk, and AMD.
Concerns surrounding Iran tensions faded, pushing WTI crude prices back toward $70 per barrel while Treasury yields moved lower.
Bitcoin stabilized after recent losses, trading above $63,000 with a 1.6% daily gain, while Ethereum climbed 0.75% to $1,751.
STRC remains discounted despite Strategy’s efforts to support dividends
Strategy and Michael Saylor have taken additional steps to reinforce confidence in their preferred stock offerings, especially STRC.
The company recently sold nearly 4,000 BTC and placed the proceeds into a reserve fund designed to support dividend payments. With existing reserves included, Strategy now has roughly 17.4 months of dividend coverage.
Although investors generally consider 18 months of coverage a strong position, STRC continues trading below its $100 par value. The preferred shares remain around $85, reflecting a 15% discount and continued market skepticism.
AI infrastructure firms may be undervalued, research report suggests
Several AI data center companies linked to Bitcoin mining could be trading below the value of their existing customer contracts, according to Compass Point research.
The firm suggested investors should view AI data centers as income-generating infrastructure assets and separate the value of confirmed contracts from future expansion plans.
Applied Digital was highlighted as the clearest example, with signed agreements estimated at $27.6 billion after construction costs, compared with an enterprise value of about $16.7 billion.
The report also identified TeraWulf and Cipher Mining as undervalued relative to their contracted operations, while Core Scientific and Riot Platforms have received greater market recognition for their existing and future projects.
MARA jumps 14% after expanding Texas power capacity
MARA Holdings shares surged 14% after announcing the acquisition of a 1,200-acre powered land site in Matagorda County, Texas, from HIF.
The site is expected to provide access to as much as 2 gigawatts of power by 2028, supporting AI data centers, high-performance computing, and Bitcoin mining operations.
The deal could increase MARA’s total potential power capacity to approximately 4.8 gigawatts as the company expands into broader digital infrastructure markets.
Zuckerberg unveils Meta’s Muse Spark 1.1 AI model after returning to X
Meta CEO Mark Zuckerberg returned to X after three years to announce Muse Spark 1.1, a new large language model focused on AI agent capabilities.
The model features a one-million-token context window and supports task delegation through multiple AI sub-agents.
Zuckerberg said Muse Spark 1.1 surpassed Google’s Gemini 3.1 Pro, OpenAI’s GPT-5.5, and Anthropic’s Opus 4.8 in agent-based performance tests.
The launch coincides with Meta’s plan to produce its own “Iris” AI chip starting in September. Meta shares were trading slightly lower at $598.65.
Bitcoin rebounds to $63K as crypto markets recover from selloff
Bitcoin climbed back toward $63,000 on Thursday as digital assets attempted to recover from Wednesday’s decline.
BTC gained 2.4% over the previous 24 hours, while Ethereum, XRP, and Solana also moved higher.
Stocks also strengthened, with the Nasdaq rising 0.7% and the S&P 500 adding 0.5%.
Lower oil prices and easing bond yields helped markets recover after renewed Iran tensions triggered a wave of risk aversion.
AI chip stocks rally as Meta increases focus on custom silicon
Semiconductor stocks gained after Meta revealed plans to manufacture its own “Iris” AI chip beginning in September.
The initiative aims to expand Meta’s computing capacity while reducing dependence on Nvidia and AMD hardware.
The move could benefit companies such as Broadcom, TSMC, Samsung, and SanDisk, while boosting semiconductor-focused ETFs.
Meta expects AI infrastructure spending to reach up to $145 billion this year.
Bitcoin options signal caution but not extreme market fear
Bitcoin’s options market continues to reflect investor caution, with the 25-delta skew reaching 18%, showing strong demand for downside protection.
The elevated reading indicates traders are preparing for potential volatility as Bitcoin remains above $62,000.
However, sentiment remains far less fearful than during the 2022 FTX collapse, when the skew exceeded 40%. Current levels suggest defensive positioning rather than panic.
Amazon’s $25B bond sale highlights cooling demand for AI financing
Technology giants are increasingly turning to debt markets to finance massive AI infrastructure projects instead of issuing more equity.
However, investor appetite appears to be weakening. Amazon’s $25 billion bond offering received orders worth only 1.6 times the amount issued, below the average demand seen in recent large technology debt deals.
SK Hynix U.S. listing attracts heavy demand despite market weakness
SK Hynix’s planned U.S. listing reportedly attracted demand more than seven times the available amount from global investors, sovereign funds, and technology-focused buyers.
The offering of nearly 178 million American depositary receipts could raise close to $25 billion, making it one of the largest foreign listings in the U.S.
Despite strong investor interest, South Korea’s stock market has faced pressure as AI-related shares experienced sharp volatility. Bitcoin remained steady near $62,700 as capital continued shifting toward AI infrastructure investments.
Oil prices decline while Treasury yields stabilize
Oil prices eased as investors assessed renewed tensions between the U.S. and Iran following the collapse of a ceasefire agreement.
Brent crude dropped below $73 per barrel, while Bitcoin gained about 1% to trade near $63,000.
Gold and silver recovered from recent declines, while Treasury yields stabilized after Wednesday’s surge. The 10-year yield remained above 4.5%, keeping pressure on risk assets.
Bitcoin ETFs return to outflows as Ethereum funds extend inflow streak
U.S. spot Bitcoin ETFs posted around $85 million in net outflows on Wednesday, ending a three-day inflow streak that had attracted approximately $509 million.
BlackRock’s IBIT saw about $59 million leave the fund, Grayscale’s GBTC lost nearly $64 million, and Fidelity’s FBTC recorded roughly $15 million in withdrawals. Grayscale’s Bitcoin Mini Trust was the only major ETF to see inflows, gaining nearly $53 million.
Bitcoin ETF assets declined to approximately $75 billion.
Meanwhile, Ethereum ETFs continued their strong performance, attracting about $70 million in inflows for the fifth consecutive session. Fidelity’s FETH led the gains with nearly $69 million in new investments.
Bitcoin traded around $62,300 while Ethereum hovered near $1,740, with both assets down about 3% on the day. Ethereum’s recent outperformance has been supported by renewed ETF demand and progress on its development roadmap.
