ETF Revival

Last week, U.S. spot-Bitcoin ETFs pulled in ~$3 billion – the third-largest weekly inflow ever recorded.

5. Stripe Launches Stablecoin Project

A series of tweets from Stripe execs have begun teasing a new stablecoin-based product built using Bridge, the stablecoin services unit Stripe acquired in October 2024 for $1.1 billion.

4. Coinbase Asset Management launches the Coinbase Bitcoin Yield Fund

Coinbase is continuing it’s push both internationally and institutionally with its latest offering: The Coinbase Yield Fund (CBYF). The fund which debuts on May 1 will employ a conservative trading strategy based on cash-and-carry arbitrage, which profits from price differences between Bitcoin's spot and derivatives markets. The fund will target annual net returns of 4% to 8%, paid in bitcoin.

3. ETF Revival

Last week, US spot-Bitcoin ETFs pulled in ~$3 billion. In BTC terms, it was the fifth-largest weekly inflow on record. In USD terms, it was the third-largest weekly inflow ever recorded. This highlights renewed institutional engagement with Bitcoin, even at elevated price levels. To add, Ether finally joined the party: US spot-ETH ETFs posted their first weekly inflow since February.

2. More Details on Wall Street’s Newest Bitcoin Vehicle

Cantor Equity Partners $CEP ( ▲ 1.9% ) enjoyed a ~200% share price jump after announcing its merger with Twenty One Capital to create a Bitcoin vehicle. Now that the dust has settled a bit, we’ll let CEO Jack Mallers explain (see video below) the company’s gameplan and how they’ll differ from Strategy $MSTR ( ▲ 2.25% ). Also, how long until Twenty One Capital acquires Jack’s other company, Strike?

1. Tether’s gold-backed “stablecoin” now holds 7.7 tons

The world’s largest stablecoin issuer, Tether, said that it’s gold-backed token (XAU₮) is backed by 7.7 tons (246,523 oz) as of the end of Q1. This is Tether’s first attestation report for the token. The “stablecoin” currently has a market cap of $770 million. While many BTC enthusiasts aren’t fans of gold, we don’t adhere to that mentality here at Coinsnacks. Is XAU₮ the best way to invest? Nope. But paying attention to the shiny asset is worth doing in our opinion. That's why we are looking forward to the latest In Gold We Trust Report launching May 15.