etp

The data market platform Kled AI announced on platform X that The Data Foundation (formerly Story) has invested $3 million, bringing the company's total funding to $14 million.Kled stated that it had previously been strict in selecting investors, only accepting capital with strategic value. The Data Foundation has now joined several top venture capital and angel investors that have previously supported Kled. Kled expects that this year, user uploads will exceed 5 billion, with an average of over 2 million active data contributors daily.

According to BBX data, last week the expansion of institutional crypto infrastructure and the differentiation of cash flow management models for mining companies were implemented simultaneously. The core dynamics are as follows:Morgan Stanley (NYSE: $MS) Wealth Management Department and Galaxy Digital Inc. (NASDAQ: $GLXY) officially announced a recommended cooperation agreement on June 5: allowing Morgan Stanley's qualified high-net-worth clients to lend directly held BTC, ETH, or SOL to Galaxy Digital. After Galaxy, as an Authorized Participant (AP), completes the creation of physical shares, the corresponding spot crypto ETP shares (including Morgan Stanley Bitcoin Trust, NYSE Arca: $MSBT) will be directly transferred to the client's brokerage account; the converted ETP shares can be used as collateral for account financing. Key parameters: Galaxy Digital has reduced the minimum trading threshold for Morgan Stanley's recommended clients from $25 million to $5 million, significantly expanding the coverage of qualified high-net-worth clients; traditional similar institutional trades usually take more than four weeks to complete, while the new mechanism can shorten the entire process by up to 75%. The legal basis for this cooperation is the SEC's approval of the physical conversion ETF mechanism for crypto assets in July 2025, allowing direct physical conversion between directly held crypto assets and spot crypto ETFs, with Morgan Stanley's $MSBT being one of the first beneficiary products.Bitdeer Group, Inc. (NASDAQ: $BTDR) reported that as of the week of June 5, 2026, Bitcoin mining output was 205.3 BTC, with the same amount sold, resulting in a net holding of 0 BTC, maintaining a current BTC position of zero, continuing the "output equals sale" cash flow management strategy; the proceeds from sales are used to support the R&D of its SEALMINER mining hardware product line and the expansion of hash power hosting services. Bitdeer's zero holding model sharply contrasts with mining companies like CleanSpark, Inc. (NASDAQ: $CLSK) (holding approximately 13,561 BTC) and MARA Holdings, Inc. (NASDAQ: $MARA) (holding approximately 35,303 BTC), which continue to accumulate Bitcoin, representing another financially rational path for mining companies during the BTC price downturn cycle—exchanging immediate liquidity for stable operational cash flow, avoiding the impact of single asset price fluctuations on the balance sheet.

Galaxy Research Director Alex Thorn posted on the X platform, pointing out that this week, spot Bitcoin exchange-traded products (ETPs) continued to experience capital outflows, with a net outflow of $1.2 billion for the week, marking the third worst weekly performance since 2026, reflecting an increase in market risk aversion.Galaxy Research Director Alex Thorn stated on the X platform that spot Bitcoin exchange-traded products experienced continuous capital outflows this week, with a net outflow of $1.2 billion for the week, making it the third worst weekly performance so far in 2026, indicating that market risk aversion is still rising.

According to The Block, CoinShares released a report showing that last week, global crypto asset ETPs recorded a net inflow of $117.8 million, achieving a fifth consecutive week of net inflows, with a cumulative inflow of over $4 billion in five weeks and a total management scale of approximately $155 billion. However, the funding structure has shown significant differentiation.The report pointed out that from Monday to Thursday, there was a total net outflow of $619 million, but on Friday, a large inflow of $737 million was recorded in a single day, reversing the week to a net inflow, reflecting a significant rebound in market risk appetite before the weekend. From a regional perspective, net inflows in the U.S. market dropped to $47.5 million, a significant slowdown compared to the previous week's $1.1 billion; Germany and Canada recorded inflows of $43.8 million and $16 million, respectively, with European funds performing relatively steadily.In terms of assets, Bitcoin-related products led the way with a weekly inflow of $192.1 million, of which the U.S. spot ETF contributed approximately $162.8 million; Ethereum products, on the other hand, saw a net outflow of $81.6 million. Analysts believe that the number of participating assets has decreased from 9 to 4, indicating that market sentiment weakened significantly in the middle of the week before showing signs of recovery.

According to The Block, asset management company WisdomTree disclosed that its cryptocurrency exchange-traded products (ETPs) recorded a net inflow of $137 million, a significant improvement compared to a net outflow of $89 million during the same period in 2025.As of the end of the first quarter, WisdomTree's total assets under management (AUM) rose to $152.6 billion, an increase of over 30% year-on-year, with strong capital inflows in the U.S. and European market products being the main driving force.Its cryptocurrency ETP AUM grew to approximately $1.8 billion in the first three months, a year-on-year increase of 15%. However, affected by the decline in digital asset prices, the initial AUM of about $2.2 billion for cryptocurrency ETPs shrank by approximately $596 million during the quarter.WisdomTree also stated that it has launched new cryptocurrency ETP products tracking Bitcoin, Ethereum, XRP, and Solana this quarter, and continues to advance the tokenization of real-world assets (RWA). Related products have been deployed on Ethereum and multiple chains such as Arbitrum, Avalanche, Base, Optimism, as well as the Stellar network.

According to The Block, AWS Marketplace has integrated data services such as Chainlink's Data Feeds, Data Streams, and Proof of Reserve, supporting developers in connecting AWS's computing, storage, database, and API capabilities with blockchain smart contracts.AWS stated that the Chainlink oracle infrastructure provides a secure two-way connection between AWS resources and on-chain smart contracts, making it easier for institutions to develop applications that interact with tokenized assets and smart contracts in a familiar AWS environment.

According to PR Newswire, Valour, a subsidiary of DeFi Technologies, has secured approximately $11 million in institutional investment to purchase its Hedera (HBAR) related ETP products, with about $10 million corresponding to products listed on the Frankfurt Stock Exchange and about $1 million corresponding to Valour Hedera SEK listed on the Swedish Spotlight Exchange.DeFi Technologies stated that these two transactions were facilitated by its Abu Dhabi seminar, reflecting the growing institutional demand for gaining exposure to Hedera through regulated exchange-traded products and supporting its asset management growth in the German market.

The Ethereum NFT marketplace Foundation has officially announced its permanent closure. Founder Kayvon Tehranian posted on X stating that the original plan was to sell the platform to a buyer interested in continuing operations, but the deal ultimately fell through, and the company deemed it not worth searching for other buyers. The platform's infrastructure has been shut down, with no plans for relaunch.In January of this year, Tehranian transferred ownership of Foundation to the digital art display company BlackDove, at the time calling this move a step for the platform's long-term development. However, BlackDove only conducted a full due diligence after completing the operational handover and ultimately determined that building a proprietary marketplace was more feasible, leading to the termination of the collaboration.Since its launch, Foundation has facilitated approximately $230 million in primary sales and has hosted iconic auctions featuring artists such as Jen Stark, James Jean, and Edward Snowden. This closure has once again raised questions about the permanence of NFTs hosted on centralized infrastructure.

The oracle service Pyth announced the official launch of the Pyth Data Marketplace and has gained support from six major financial institutions as data publishers. The institutions joining include Euronext, Exchange Data International, Fidelity Investments, OTC Markets Group, SGX's FX data business, and Tradeweb. These institutions previously distributed data primarily through traditional data vendors and proprietary terminals.The Pyth Data Marketplace allows institutions to distribute various proprietary data, including macroeconomic indicators, over-the-counter (OTC) pricing, and foreign exchange benchmarks, while retaining ownership, pricing rights, and attribution rights of the data.

Strategy's preferred stock STRC landed on the UK trading platform Trading 212 on March 30, with an annualized yield of approximately 11.5%. However, UK investors holding STRC directly may face significant tax pressure. In the US, STRC's monthly dividends are classified as Return of Capital (ROC) and are not taxable; however, UK brokers typically classify them as foreign dividends, subject to income tax at the marginal dividend tax rate, with the basic rate taxpayer rate at 8.75% and high earners up to 39.35%. Additionally, capital gains tax (CGT) must be paid upon sale, resulting in an estimated actual net yield of only about 10%.Crypto analyst James Van Straten suggests that UK investors consider the 21Shares Strategy Yield ETP listed on the European exchanges in Amsterdam and Paris instead. This product has a zero management fee, employs an accumulating structure, and automatically reinvests earnings rather than distributing cash. Upon sale, it typically only incurs CGT, with no income tax burden, providing significantly better tax efficiency.

Duncan Moir, President of 21Shares, stated that as the crypto market matures from simple price-tracking funds, actively managed exchange-traded products will become the next phase of crypto investment. Data compiled by Morningstar and Goldman Sachs Asset Management shows that by the end of 2025, global assets in actively managed ETFs are expected to approach $1.8 trillion.Duncan Moir pointed out that crypto, as an emerging and growing asset class, is particularly suitable for active management; 21Shares combines bottom-up research on single assets with quantitative and top-down strategies to manage risk and allocation, and has expanded its portfolio management and trading team.Duncan Moir added that after FalconX acquired 21Shares in October, the integration of the two is expected to accelerate product development, especially in the direction of more complex products. He stated that the demand for crypto ETPs and ETFs varies by region, with Europe having a more mature investor base, where institutions holding Bitcoin and Ethereum are seeking to further increase their crypto allocation.In this context, 21Shares recently launched an exchange-traded product in Europe linked to Strategy preferred stock STRC, providing exposure to high-yield tools related to the company's Bitcoin capital strategy, and noted that early demand for the product has been strong in multiple regions.Reports mention that as the crypto ETP and ETF market develops, issuers are launching more complex structures, with staking becoming one of the growth directions; Grayscale introduced staking in its ETP in October, and BlackRock launched a Nasdaq-listed Ethereum product with a staking mechanism in March, recording a trading volume of $15.5 million on its first day.Duncan Moir stated that 21Shares evaluates new products based on internal research, customer demand, and market trends, and cited its Bitcoin and gold ETP as an example, noting that the product has been running for four years and was recently cross-listed in London.

According to Blockworks, BSOL (the Solana staking ETP launched by Bitwise) has become the largest Solana staking ETP by assets under management (AUM).Over $1.8 billion in SOL is staked through the ETP, of which $600 million is held by BSOL owned by Bitwise.

GoPlus released a report on social media stating that it conducted a comprehensive security scan on the top 100 high-frequency download Skills in the ClawHub ecosystem. The number of skills that were blocked reached 21 (accounting for 21%), while the number of skills that received warnings was 17 (accounting for 17%).GoPlus indicated that 21% of the Top 100 Skills involve clearly high-risk operations (such as direct network penetration, sensitive API calls, automatic messaging, etc.), and it is recommended to enforce a "Human-in-the-Loop (HITL)" confirmation mechanism when executing such Skills, to conduct manual reviews of high-risk behaviors. 17% of Skills carry certain risks, and it is advised to execute them with caution; for users with higher security requirements, manual confirmation is also recommended.In this context, GoPlus Security announced the launch of SafuSkill, a security-first Skills marketplace. SafuSkill is built on the BNB Chain and integrates a skills marketplace, an automated Skills security scanning engine, and developer management tools into an AI Agent Skills platform, aimed at helping users filter and discover safer AI Agent Skills. It provides security scanning and runtime protection capabilities for AI Agent Skills, promoting the development of the AI Agent ecosystem towards a more transparent and secure infrastructure layer.

According to official news, CoinShares has announced the launch of the CoinShares BNB Staking ETP, which is now live.This product offers BNB staking rewards with a 0% fee rate, allowing investors to gain exposure to BNB while also earning on-chain yields within a regulated framework.

According to Cointelegraph, cryptocurrency ETP provider 21Shares launched the Strategy Yield ETP (code: STRC NA) on Thursday at Euronext Amsterdam, providing European investors with a convenient channel to invest in preferred shares of Strategy, a company owned by Michael Saylor.The product is backed by 717,000 bitcoins (worth approximately $4.7 billion) held by Strategy, offering an annual variable dividend yield of 11.25%.

Digital asset management company CoinShares International Limited has announced the launch of the physically-backed HYPE exchange-traded product CoinShares Physical Hyperliquid Staking ETP, aimed at providing investors with an opportunity to invest in the native HYPE token. It is reported that the management fee for this ETP is 0%, with the stock code LIQD, and it will be listed first on the Xetra exchange.

According to Globenewswire, digital asset management company CoinShares has released its latest financial report, disclosing that by December 31, 2025, the total assets under management will reach $7.4 billion, with the total assets under management of its physical digital asset ETP reaching $2.8 billion (despite the decline in the cryptocurrency market, a net inflow of $662 million was recorded in the second half of 2025).In addition, CoinShares announced that its board has decided to distribute a dividend of $0.33 per share for the year 2025, totaling approximately $21.5 million, before the completion of its merger with Vine Hill Capital Investment Corp.

According to The Block, CoinShares' latest report shows that global crypto asset ETPs have experienced net outflows for the fourth consecutive week, with approximately $173 million flowing out last week. Over the past four weeks, total outflows have reached $3.74 billion, indicating that the trend of capital withdrawal from the market continues.The report notes that although the weekly outflow has slowed from a peak of about $1.7 billion at the beginning of the month, the overall selling pressure has not reversed. James Butterfill stated that the current data reflects that crypto fund capital has been undergoing a withdrawal cycle for a continuous month. In terms of trading activity, ETP trading volume has significantly cooled, dropping from a record $63 billion the previous week to $27 billion, indicating that speculative trading enthusiasm has declined in tandem with capital outflows.In terms of capital flow, approximately $575 million was recorded as inflow at the beginning of last week, but this was followed by about $853 million in outflows, primarily influenced by weakening prices. On Friday, boosted by weaker-than-expected CPI data, there was a brief inflow of about $105 million. There is a clear regional divergence. The U.S. market recorded approximately $403 million in outflows last week, while other regions collectively saw about $230 million in inflows, with Germany leading at approximately $115 million, followed by Canada at about $46.3 million and Switzerland at about $36.8 million, indicating that capital demand is shifting towards overseas markets.In terms of asset classes, Bitcoin-related investment products saw the largest outflows last week, totaling about $133 million; short Bitcoin products also experienced outflows of about $15.4 million over the past two weeks, a phenomenon that CoinShares notes typically occurs when the market approaches a cyclical low. Ethereum funds recorded outflows of about $85.1 million, while some altcoins still attracted inflows, with XRP seeing inflows of about $33.4 million, Solana about $31 million, and Chainlink about $1.1 million.In terms of prices, Bitcoin fell nearly 2% over the past week, remaining below the $70,000 mark; Ethereum, after two weeks of significant outflows, is still below the $2,000 level, and overall market sentiment remains cautious.

According to Decrypt, Denmark's largest bank, Danske Bank, is offering Bitcoin and Ethereum ETPs to investors, ending an eight-year ban on cryptocurrencies. Danske Bank's stance has shifted, stating it is in response to the growing demand from customers.Previously, the bank had explicitly stated that it would not provide any type of cryptocurrency services. While it acknowledges that the cryptocurrency market has matured in recent years, it still emphasizes that it does not recommend cryptocurrencies as an asset class.

iShares Digital Assets AG announced on Wednesday the issuance of 660,000 new iShares Bitcoin ETP securities under its secured cryptocurrency-linked securities program. This issuance increases the total number of securities in the series from 110,274,328 to 110,934,328, with an issuance price of $6.89 per security. The Bitcoin ETP trades on the London Stock Exchange under the code IB1T and aims to track the performance of Bitcoin.The total expense ratio of the ETP is 0.25% per annum, but a partial fee waiver will be implemented from the series issuance date until December 31, 2026, reducing the rate to 0.15% per annum. These securities are expected to begin trading on the main market of the London Stock Exchange on February 12, 2026.