Circle reported gross USDC redemptions exceeding mints by about $4 billion in Q2, while doubling its full-year other revenue outlook to $310M-$330M, driven partly by ARC Token presale revenue.
US spot Bitcoin ETFs recorded $225 million in net outflows on July 23, led by a $202 million outflow from BlackRock's iShares Bitcoin Trust (IBIT), ending a seven-day inflow streak of $999 million. Bitcoin prices also declined, though causation between flows and price movement remains unresolved.
US spot Bitcoin ETFs recorded their first weekly net inflow in over two months, attracting $197 million and ending an eight-week streak of outflows. Bitcoin prices rose 3% to over $64,000. Spot Ethereum ETFs also saw inflows, suggesting reduced investor aggression in crypto exposure.
Over six weeks, US Bitcoin ETFs lost $5.94 billion, the longest unbroken outflow since 2024, with Bitcoin dropping to a 21-month low near $58,000. Despite this, long-term holders (owning 83% of circulating BTC) remain unchanged, indicating capitulation among newer ETF investors rather than a broader market shift.
Apollo is halting investor redemptions in its main retail-focused private credit fund, Apollo Debt Solutions, after a near 17% spike in withdrawal requests in Q2. The fund saw $2.4 billion in outflows, prompting a cap on future withdrawals.
Spot Bitcoin ETFs saw $1.72 billion in net outflows in the week ending June 5, extending a four-week streak of billion-dollar redemptions, attributed to macro-driven risk repricing amid stronger US employment data and rising Treasury yields.
Blackstone imposed new withdrawal limits on its private credit fund, allowing only 5% of its $79 billion assets to be redeemed in Q2, following a surge in investor redemption requests. Other major investment firms like Cliffwater and Blue Owl have implemented similar restrictions due to growing concerns about the private credit sector's rapid growth and regulatory oversight.
Kelp DAO restores restaked Ether token after $293 million exploit by North Korea's Lazarus Group
US Bitcoin ETFs recorded $635.2 million in outflows on Wednesday, the largest daily outflow since January, as Bitcoin struggled to hold $80,000 after a sharp rebound from April lows.
RedStone Settle introduces an onchain auction mechanism enabling tokenized real-world assets with 60-180 day redemption periods to serve as DeFi collateral. The Swiss-based oracle provider's solution addresses liquidity mismatch that has prevented RWAs from being used in lending protocols like Aave, potentially unlocking over $30 billion in idle tokenized assets.
Saba Capital Management's tender offers for shares in non-traded business development companies managed by Blue Owl Capital and Starwood Capital came in below expectations, acquiring only about $10 million in aggregate face value across 190 trades. The Blue Owl OBDC II tender failed to garner more than 1% of what was offered, while most trades came from Starwood's SREIT. The low participation reflects investor reluctance to liquidate at steep discounts amid elevated redemptions across private-credit funds.
