Crypto Biz: Cantor Fitzgerald crypto play, ETF inflows highlight industry’s big sentiment shift
In recent developments, Bitcoin and the broader cryptocurrency market experienced a significant sentiment shift following reports that U.S. President Donald Trump may be easing his stance on tariffs. Institutional interest surged, reflected in renewed inflows into Bitcoin ETFs, which saw $381.3 million in net inflows on April 21, and $912.7 million the following day, marking the largest inflows since January. The ARK21Shares Bitcoin ETF led this uptick, contributing to Bitcoin prices climbing back to $94,000. Additionally, Cantor Fitzgerald is reportedly planning a $3 billion cryptocurrency venture called 21 Capital, aiming to leverage the favorable market environment. This venture could include sizable investments from Tether, Softbank, and Bitfinex. In other news, Coinbase is contemplating applying for a U.S. banking charter, which would enable it to offer traditional banking services and integrate more deeply with digital assets. Lastly, Tesla has chosen to maintain its Bitcoin holdings despite reporting disappointing first-quarter earnings, holding a total of 11,509 BTC.
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