News

Market Overview

The Federal Reserve announced a quarter-point cut in interest rates, marking the first rate cut of 2025, and forecasted two more rate cuts for the year, lowering the target range for the federal funds rate to 4.0 percent to 4.25 percent.
The Bank of Canada lowered its interest rates by a quarter point, reducing its target for the overnight rate to 2.5 percent, with the Bank Rate at 2.75 percent and the deposit rate at 2.45 percent, after leaving rates unchanged for three straight meetings.
The Commerce Department reported that housing starts pulled back by 8.5 percent to an annual rate of 1.307 million in August, much more than expected, following significant increases in new residential construction over the two previous months.

US Spot ETF Flows

US Spot ETF Inflows

BTC ETF Flows

ETH ETF Flows

Crypto Liquidations Summary

• A dormant Bitcoin whale moved 1,000 BTC ($116 million) after 12 years of inactivity, transferring coins originally purchased for $847 each (worth $847,000 initially) to new wallets on Wednesday ahead of the Fed meeting.
• The Chicago Mercantile Exchange (CME) will list options on Solana and XRP futures for the first time, expanding its regulated crypto derivatives offerings beyond Bitcoin and Ether.
• The US Securities and Exchange Commission has approved standards that could accelerate spot crypto ETF approvals by allowing applications to be evaluated under a streamlined process, rather than being assessed individually.
• SBI Shinsei Bank, Decurret, and Partior are jointly developing a blockchain-based settlement system for tokenized deposits in Japanese yen and other major currencies.