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Share link:In this post: U.S. inflation is slowing, but debates about Biden’s ability to challenge Trump overshadow the good news. The IMF warns the U.S. must address its high debt levels, with the debt-to-GDP ratio predicted to hit 140% by 2032. Voters prioritize the economy, with Trump trusted over Biden by 41% to 37% on economic issues. Bitcoin struggles in a tight range, with fears of further drops due to a supply overhang in July.Disclaimer. The information provided is not trading advice. Cryptopolita
Quick Take This is an excerpt from the fifth edition of The Funding newsletter sent to our loyal readers on June 29. The Funding is a fortnightly newsletter written by Yogita Khatri, The Block’s longest-serving editorial member. To subscribe to the free newsletter, click here.
Share link:In this post: Bitcoin spot ETFs saw a $73 million inflow on June 28, with varying activity across different funds. Grayscale ETF GBTC had a $27 million outflow, while BlackRock ETF IBIT saw an $82 million inflow. The US government transferred 3,940 Bitcoin to Coinbase Prime on June 26, flagged by Arkham Intelligence. The SEC is cautiously approving Bitcoin and Ether ETFs but remains uncertain about other tokens like Solana.Disclaimer. The information provided is not trading advice. Cryptopolitan
- 02:1921Shares submits XRP ETF application to the US SECOn November 2, according to public documents from the U.S. Securities and Exchange Commission (SEC), 21Shares has submitted an S-1 application, planning to launch the first XRP ETF "21Shares Core XRP Trust". The fund will track the price of XRP and plans to be listed on the Cboe BZX Exchange. The trust does not involve leverage or derivatives, aiming to reflect the dollar performance of XRP through the CME CF Ripple-Dollar reference rate (New York version). Coinbase Custody will serve as the custodian of this trust's XRP, responsible for safeguarding all assets.
- 02:17The U.S. Bureau of Labor Statistics has decided not to proceed with plans to reduce the sample size for employment surveysThe U.S. Bureau of Labor Statistics (BLS) said in its employment report on Friday that it no longer plans to reduce the sample size of key labor market surveys, as the recently passed continuing resolution "allows BLS to use funds from the Current Population Survey (CPS, also known as Household Survey) at a faster rate." BLS Commissioner Erika McEntarfer first announced plans to cut sample sizes in June this year, citing budget constraints and declining response rates making surveys more expensive and difficult to conduct. The plan was set to start reducing 5,000 households from early 2025, bringing the total down to 55,000. The BLS received about $700 million in appropriations during the fiscal year that just ended in September. Advocacy group "Friends of BLS" and former White House economists recently urged lawmakers to add approximately $20 million for fiscal year 2025 but current proposals from both the House and Senate fall far short of this request. The short-term spending bill passed in September will keep government operations running until December, including providing $6 million support for CPS.
- 02:16Yesterday, BlackRock's IBIT trading volume reached 1.985 billion US dollars, of which 45% were active buy ordersAccording to Trader T's monitoring, the trading volume of BlackRock's IBIT reached 1.985 billion US dollars yesterday, of which 45% were active buy orders and 37% were active sell orders.
