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ETF Outflows, Whale Accumulation & Hong Kong's Crypto Collateral First
Audio is available on Spreaker — see link below.
U.S. spot Bitcoin and Ethereum ETFs logged three straight days of outflows while on-chain whales accumulated 11,400 BTC — and Hong Kong's Futu Securities became the first broker cleared to offer securities-backed crypto financing. Get today's full crypto market briefing: institutional flows, DeFi exploit data, and MicroStrategy insider sales explained.
Audio is available on Spreaker — see link below.
Futu Securities just became the first brokerage in Hong Kong to win SFC approval for securities-backed crypto trading financing. That's not a minor licensing update.
U.S. spot Bitcoin ETFs posted seventy-seven point four million dollars in net outflows on June ninth. That's the third consecutive day of withdrawals.
While institutions pulled back through ETFs, large on-chain holders moved in the opposite direction. Eleven thousand four hundred and twenty-two bitcoin, worth roughly seven hundred million dollars, moved off exchanges to cold storage in just five days.
MicroStrategy shares gapped lower after insider sale disclosures. The CEO and CFO both sold shares, though the filings indicate the sales were tied to tax withholding on equity awards rather than discretionary exits.
On DeFi security, Chainalysis put a precise number on a troubling trend. Thirty-six point seven million dollars stolen from unverified smart contracts over six months, across four separate exploits.
The threads running through today's briefing connect. Hong Kong is building infrastructure to bring traditional capital into crypto.
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