#galaxy-research

[rwatimes]

‘May not resolve structural issues’ – Galaxy opposes JPMorgan’s dilution plan for Strategy

Strategy's $1.25B Bitcoin sale plan has elicited mixed reactions from JPMorgan and Galaxy Research analysts

➤ Galaxy Research opposes Strategy's Bitcoin sale plan, arguing it doesn't resolve underlying structural risks and suggests generating income from BTC holdings via lending or options instead. ➤ JPMorgan, conversely, recommended increasing Strategy's cash reserve buffer by selling more MSTR stock, not BTC. ➤ The article highlights differing analyst views on managing Strategy's financial obligations and the potential impact on MSTR and BTC prices.

[rwatimes]

CLARITY Act : l'adoption de la législation crypto américaine tombe à 50 % de chances pour cette année

La législation américaine du marché crypto CLARITY Act n'a plus que 50 % de chances d'être adoptée avant la fin de l'année.

➤ The CLARITY Act, a US crypto market regulatory framework, now has only a 50% chance of adoption this year, down from 60%, according to Galaxy Research. ➤ Delays are attributed to ongoing 'constructive' negotiations, particularly concerning stablecoins and competition with traditional banking, alongside political maneuvering impacting Senate debate time. ➤ The reduced probability is primarily linked to the parliamentary calendar and political competition for debate time, rather than the content of the bill itself.

[rwatimes]

El mercado RWA alcanza los 307.07 mil millones de dólares mientras la SEC considera el comercio de acciones tokenizadas | KuCoin

➤ The RWA market has reached $307.07 billion, with stablecoins dominating at $296.376 billion. ➤ The SEC is considering authorizing the trading of tokenized stocks, a significant regulatory development for RWAs. ➤ This regulatory advancement is pushing RWAs towards a more comprehensive financial structure, including issuance, lending, and capital market restructuring.

[rwatimes]

ETF Bitcoin spot : Record historique de 6,35 milliards de $ de sorties nettes sur 30 jours

Les ETF Bitcoin au comptant traversent leur pire crise depuis leur création : 6,35 milliards de dollars de sorties nettes en 30 jours.

➤ Bitcoin spot ETFs have experienced record net outflows of $6.35 billion over 30 days, signaling a significant institutional disengagement. ➤ Factors contributing to these outflows include rising US bond yields, delayed interest rate cut expectations, geopolitical tensions, and profit-taking after a strong 2024-2025 rally. ➤ While BlackRock's IBIT still holds a majority of assets, the overall trend indicates increased volatility and a more cautious institutional approach to Bitcoin ETFs.

[rwatimes]

Bitcoin ETFs See Record $6.4B Outflows in 30 Days as Market Turns Risk-Off

US-listed spot Bitcoin exchange-traded funds (ETFs) are enduring a prolonged stretch of withdrawals, registering their largest 30-day net outflow since trading began in January 2024. The move comes during a broader risk-off period for crypto markets and underscores how ETF flows ...

➤ US-listed spot Bitcoin ETFs have experienced record net outflows of $6.4 billion over 30 days, marking six consecutive weeks of withdrawals. ➤ This trend occurs amidst a broader risk-off sentiment in crypto markets, influenced by macroeconomic factors and geopolitical risks. ➤ While outflows suggest weakening demand, experts note that daily flows can be driven by internal reallocations rather than a complete institutional exit.

[rwatimes]

Bitcoin ETFs See Record $6.4B Outflows in 30 Days

US-listed spot Bitcoin exchange-traded funds (ETFs) are experiencing another period of heavy selling pressure, with Galaxy Research data indicating the largest 30-day net outflow since the products began trading in January 2024. The renewed outflow streak comes amid a broader ris...

➤ US-listed spot Bitcoin ETFs have experienced record net outflows totaling $6.35 billion over the last 30 trading days, marking the largest outflow streak since their launch. ➤ While some outflows may be due to internal switching between ETF products, the sustained, multi-week trend suggests a broader rotation away from Bitcoin exposure amid macroeconomic pressures and geopolitical risks. ➤ Despite the current outflows and Bitcoin's price decline, BlackRock maintains a long-term view on Bitcoin as a decentralized monetary alternative, emphasizing that short-term volatility is expected.

[rwatimes]

The Race to Trade Everything

➤ Hyperliquid's HIP-4 upgrade introduces prediction markets to its platform, aiming to compete with incumbents like Polymarket and Kalshi by leveraging its existing infrastructure for perpetual futures. ➤ The article analyzes HIP-4's mechanics, comparing its infrastructure, oracle scope, and regulatory posture against competitors, highlighting Hyperliquid's advantages in unified margin and execution speed. ➤ Despite Hyperliquid's infrastructure strengths, challenges remain in market breadth, user discovery, and navigating regulatory uncertainties, with the overall trend in the prediction market category being one of convergence towards a 'trade everything' model.

[rwatimes]

Galaxy lifts CLARITY Act odds to 75%

Galaxy Research head Alex Thorn put CLARITY Act passage at 75% and forecast a Trump signing the week of Aug. 3 if Congress holds pace.

➤ Galaxy Research has increased its probability estimate for the CLARITY Act's passage to 75%, citing a bipartisan Senate Banking Committee vote. ➤ A potential presidential signature is forecasted for early August, contingent on Congress maintaining its legislative pace. ➤ While the bill aims to provide regulatory clarity for stablecoins and reshape retail access, concerns remain about information asymmetry between retail and institutional traders.