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Bloomberg ETF analyst James Seyffart told CoinDesk in an interview that most Bitcoin ETF investors are maintaining their positions despite recent fund outflows. He noted that the cryptocurrency market is under pressure as Bitcoin hovers around $60,000 amid sustained ETF withdrawals. According to Seyffart, approximately $9 billion has exited Bitcoin ETFs since their recent peak. However, he pointed out that despite this downturn, cumulative net inflows since the launch of these ETFs still exceed $50 billion. Seyffart explained that this trend is consistent with past ETF cycles, where strong inflows are often followed by corrections and outflows. He stated that ETF products are designed to provide liquid investments, making buying and selling a normal part of market activity. He described a pattern of taking a few steps forward and then a few steps back as healthy for an emerging asset class. He added, however, that it is true that interest in artificial intelligence (AI) and space-related investments is diverting capital and attention from cryptocurrencies. Seyffart observed that data centers, AI, and space-related investments have become major topics across financial markets. While difficult to quantify, he believes these themes are in direct competition with crypto for investment funds.

Binance has announced the cancellation of the SPCX x IPO event on its wallet. Accordingly, funds will be fully refunded to users' wallets through their original payment methods. The exchange also plans to airdrop a total of $1 million worth of bStocks SpaceX tokens (SPCXB). The airdropped SPCXB will be automatically credited to participants' accounts by June 18.

Crypto data provider Blockworks has acquired competitor Messari, according to Unfolded.

SpaceX officially listed on June 12, opening at $150 per share with a market capitalization of $2 trillion. While the opening price was below the expected range of $170 to $175, it was significantly higher than the initial public offering price of $135. Driven by the surge in SpaceX's valuation, Elon Musk has become the world's first person with a net worth exceeding $1 trillion. According to reports, Musk's fortune is estimated to have surpassed $1.1 trillion, a figure comparable to the gross domestic product (GDP) of Switzerland, the world's 20th-largest economy.

Zimbabwe has introduced its first specific regulations for the cryptocurrency industry, mandating that companies register annually and pay a fee, Reuters reported. Under the new rules, firms involved in crypto trading, transfers, and custody must register with the Financial Intelligence Unit (FIU) each year. The annual registration fee is set at $500, and operating without a license will be considered a regulatory violation. Previously, the industry had operated in a legally ambiguous area.

SpaceX opened at $150 on the first day of its U.S. stock market initial public offering (IPO). The offering price was $135 per share.

Standard Chartered (SC) has declared that the crypto winter is over, Decrypt reported. SC analyst Geoff Kendrick explained that Bitcoin's recent drop to nearly $59,000 was the most severe period of the crypto winter, representing a 53% decline from its October peak of $126,000. He stated that the lowest point for cryptocurrencies is now in the past and the winter has ended. Kendrick added that a potential peace agreement between the U.S. and Iran, along with SpaceX's historic IPO, are expected to serve as catalysts for the crypto market, which has been sluggish in recent months.

Bybit has announced it will issue full refunds for its SpaceX IPO subscription offering, stating that it was unable to secure any shares in the company. As a result, users who subscribed through the platform will not be allocated any stock. The exchange said all subscription funds will be automatically returned to users' accounts without requiring any action. Additionally, eligible participants will receive extra compensation calculated at a 10% annual interest rate for four days, which will also be automatically deposited into their accounts.

Polymarket processed $118 million in trades related to the World Cup on its opening day alone, marking an all-time high, The Block reported. The platform's average daily trading volume was around $20 million as of May, and it surpassed $40 million in the days immediately preceding the tournament's start. Currently, 64 matches featuring 32 teams are still to be played.

According to CoinNess market monitoring, BTC has risen above $64,000. BTC is trading at $64,053 on the Binance USDT market.

Coinbase has announced it will unveil the next phase of its strategy to become a comprehensive exchange, moving beyond its role as a spot exchange, on June 16. The company plans to integrate its services to allow users to trade various assets, including cryptocurrencies, stocks, ETFs, prediction markets, and perpetual contracts, from a single account.

Bloomberg ETF analyst Eric Balchunas reported via X that SPCL, a 2x leveraged SpaceX ETF from crypto ETF issuer Defiance, has begun trading. The fund has already recorded $10 million in trading volume. Balchunas noted that this occurred even before the release of SpaceX's price and volume data on Nasdaq.

SpaceX opened at $172 per share on its U.S. stock market debut. The initial public offering was priced at $135 per share.

U.S. President Donald Trump stated that the conditions leaked by Iran to what he described as fake news outlets are entirely unrelated to the terms agreed upon in writing. He warned that there is no trust in any dealings with Iran and that the country should act quickly.

An anonymous, newly created address starting with bc1qcgs withdrew 820 BTC, worth $51.99 million, from Binance over the past 24 hours, according to Onchain Lens. Such withdrawals are typically interpreted as a move to hold assets long-term.

The three major U.S. stock indices opened higher today. - S&P 500: +0.19% - Nasdaq: +0.02% - Dow Jones: +0.63%

A U.S. appeals court has dismissed an appeal by FTX founder Sam Bankman-Fried (SBF) challenging his conviction and 25-year prison sentence for fraud, Reuters reported. This follows a U.S. court's final rejection of SBF's request for a retrial in April. SBF now has no remaining legal recourse.

Ethena Labs plans to allocate $250 million to the Securitize tokenized AAA CLO fund (STAC) launching on the Solana chain, The Block reported. The fund, launched by Securitize in partnership with BNY, invests in AAA-rated collateralized loan obligations (CLOs) with exposure to both primary and secondary markets and currently has $102 million in assets under management. The allocation is part of Ethena Labs' strategy to diversify the collateral backing USDe and USDtb into real-world assets (RWA), moving beyond its crypto-based delta-neutral position. Meanwhile, the fund's issuer, Securitize, is scheduled to list on Nasdaq in the second half of this year through a SPAC merger under the ticker SECZ.

Cumulative trading volume for U.S. spot Bitcoin ETFs is nearing $2 trillion, The Block reported. As of June 11, the total volume stood at $1.99 trillion. With recent daily trading volumes ranging from $2 billion to $5 billion, the products are expected to cross the $2 trillion mark within days. BlackRock's IBIT has dominated the market, accounting for 73.7% of all spot Bitcoin ETF trading volume. In terms of fund flows, the ETFs have seen a total net inflow of $53.9 billion since their launch. This includes $62.2 billion in net inflows for IBIT, offset by over $26.8 billion in net outflows from GBTC. However, the report notes that since Bitcoin reached its all-time high last year, the ETFs have experienced a total net outflow of $7.6 billion. This year alone has seen $3 billion in net outflows. Recently, the funds recorded their longest consecutive net outflow streak since launch, with $4.3 billion withdrawn over 13 straight trading days.

An Iranian source has claimed that reports of a potential U.S.-Iran agreement in Geneva are completely false, Walter Bloomberg reported. The denial follows earlier reports from multiple media outlets suggesting the two countries might discuss an agreement to reopen the Strait of Hormuz ahead of the G7 summit.

The Solana-based memecoin creation platform Pump.fun (PUMP) deposited approximately 67,000 SOL, worth around $4.51 million, to Kraken within the last 30 minutes, according to analysis from EmberCN. Deposits to exchanges are typically interpreted as a precursor to selling. The platform has consistently deposited a portion of the SOL generated from its fee revenue. Since the beginning of 2024, Pump.fun is estimated to have sold 4.61 million SOL, valued at roughly $795 million, at an average price of $172.

Whale Alert reported that 250,118,000 USDC has been transferred from Ethena to Coinbase Institutional. The transaction is valued at about $250 million.

As SpaceX (SPCX) proceeds with its largest-ever initial public offering, the crypto market is facing both concerns about a potential liquidity drain and hopes for a cyclical rally, Decrypt reported. The company aims to raise $75 billion by offering 555 million shares at $135 each, targeting a valuation of $1.77 trillion. The listing is scheduled for 2:00 p.m. UTC on June 12. Adam Morgan McCarthy, a senior analyst at liquidity research firm LO:TECH, suggested that both retail and institutional investors have been selling risky assets to participate in the SpaceX offering. He believes the IPO could absorb more capital from the market, acting as a short-term bearish factor. Conversely, CEX.IO senior analyst Illia Otychenko projected that if SpaceX experiences a strong rally on its first day of trading, the profits secured could flow back into the cryptocurrency market. Many experts predict that the market's future direction will be signaled by whether SpaceX can maintain its stock price post-listing and whether the current trend of outflows from spot crypto ETFs subsides. In its IPO filing, SpaceX disclosed that it holds 18,712 BTC. For comparison, Tesla (TSLA) holds 11,509 BTC.

KuCoin is defying a court order to pay $2 million in damages to a user whose delisted cryptocurrency was arbitrarily frozen, Cointelegraph reported. The Seychelles Supreme Court had ordered the exchange to compensate a Swiss investor, ruling that KuCoin had frozen the user's CoinPoker tokens after delisting them without proper notification. In response to KuCoin's non-compliance, Seychelles authorities have reportedly rejected a license application from a KuCoin-affiliated entity and ordered it to cease operations. The affected investor, who has yet to receive any compensation, is now preparing further legal action.

LAB has risen by 4.08% in the past five minutes on the COINNESS market. Currently, LAB is trading at $10.16.