【Afternoon Deep Dive | Yields Hit a 24-Year High, Crypto’s Structural Story Continues】
Macro pressure is mounting: the 10-year U.S. Treasury yield surged to 5.34%, while the 30-year yield touched 5.70%—both at their highest levels since 2002. Markets are pricing in about a 25% chance of a Fed rate hike in October. Geopolitical tensions are also rising as the U.S. military’s maritime blockade of Iran escalates. Three oil tankers were attacked in the Strait of Hormuz over the weekend, and elevated oil prices are fueling inflation concerns, weighing on risk assets in the near term.
But structural progress in crypto continues:
① The SEC approved the listing and trading of 3x leveraged BTC/ETH funds, taking the financialization of crypto products a step further.
② The INJ staking ETF (INJC) has filed with the SEC, and Grayscale’s XRP Trust ETF has added in-kind creation and redemption functionality.
③ Spot BTC ETFs saw net inflows of $189.9 million last Friday. Strive made a single $169 million Bitcoin purchase, its largest buy in four months.
④ The CFTC cited the Chainlink 2.0 white paper in an ANPRM, bringing oracles and proof of reserves formally into regulatory discussions.
⑤ On-chain value has topped $1 billion across nine public blockchains in the RWA sector, with Injective among them at $1.06 billion.
High interest rates are weighing on near-term sentiment, but ETF adoption and institutional infrastructure are building mid-term momentum. Flows into $BTC and $ETH ETFs are key indicators to watch for a mid-term turning point.
NFA | DYOR
#比特币 #以太坊 #ETF #宏观分析 #RWA
Macro pressure is mounting: the 10-year U.S. Treasury yield surged to 5.34%, while the 30-year yield touched 5.70%—both at their highest levels since 2002. Markets are pricing in about a 25% chance of a Fed rate hike in October. Geopolitical tensions are also rising as the U.S. military’s maritime blockade of Iran escalates. Three oil tankers were attacked in the Strait of Hormuz over the weekend, and elevated oil prices are fueling inflation concerns, weighing on risk assets in the near term.
But structural progress in crypto continues:
① The SEC approved the listing and trading of 3x leveraged BTC/ETH funds, taking the financialization of crypto products a step further.
② The INJ staking ETF (INJC) has filed with the SEC, and Grayscale’s XRP Trust ETF has added in-kind creation and redemption functionality.
③ Spot BTC ETFs saw net inflows of $189.9 million last Friday. Strive made a single $169 million Bitcoin purchase, its largest buy in four months.
④ The CFTC cited the Chainlink 2.0 white paper in an ANPRM, bringing oracles and proof of reserves formally into regulatory discussions.
⑤ On-chain value has topped $1 billion across nine public blockchains in the RWA sector, with Injective among them at $1.06 billion.
High interest rates are weighing on near-term sentiment, but ETF adoption and institutional infrastructure are building mid-term momentum. Flows into $BTC and $ETH ETFs are key indicators to watch for a mid-term turning point.
NFA | DYOR
#比特币 #以太坊 #ETF #宏观分析 #RWA