BlackRock Debuts BITA Bitcoin ETF, Trading Partial Upside for Double-Digit Yield

U.S. spot Bitcoin ETFs have shed nearly $5.6 billion since Hyperliquid ETFs launched, highlighting market divergence....

For sophisticated crypto desks, the bottleneck has rarely been finding liquidity, but rather moving capital fast enough to use it. A fund running active books across the largest CEXs operates multiple separate balance sheets that don’t talk to each other. Every account must be funded to meet worst-case requirements. Collateral can’t be netted across venues. ...

Efforts to suppress stablecoin use are “likely to be only partly effective,” the International Monetary Fund’s researchers said....