US spot Bitcoin exchange-traded funds recorded their sixth straight day of net inflows on August 23rd, totalling around $65 million. The sustained run of positive flows highlights the growing institutional demand for regulated Bitcoin exposure.

BlackRock’s iShares Bitcoin Trust (IBIT) let the days inflow with $75.5 million. Launched in April 2024, IBIT has quickly become the biggest spot Bitcoin ETF, with over $20 billion in assets under management.

Fidelity’s Wise Origin Bitcoin Trust took in another $9.2 million, while the ARK 21Shares Bitcoin ETF saw inflows of $7.8 million. Smaller spot bitcoin ETFs like VanEck’s and WisdomTree’s also added several million each.

However, Grayscale’s…

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Russia is gearing up to launch two new crypto exchanges, one in St. Petersburg and another in Moscow, aimed at fostering stablecoin development amid ongoing financial sanctions. These platforms, speculated to utilize existing infrastructure like the St. Petersburg International Mercantile Exchange, will initially focus on stablecoins tied to the Chinese yuan and a BRICS currency basket.

The Moscow exchange could potentially integrate with the city’s stock exchange or emerge under a new experimental legal regime. The move aligns with recent legislative advancements, including a law signed by President Vladimir Putin to legalize crypto mining, setting the stage for a broader embrace of digital currencies.

With a pilot phase targeting major exporters and importers, these exchanges mark a strategic pivot in Russia’s approach to cryptocurrency, as the nation seeks to mitigate the impact of international sanctions and enhance its global trade capabilities.

Reports

Franklin Templeton’s CEO Jenny Johnson, a prominent figure in the asset management industry since 2020, highlighted the significant underestimation of Bitcoin’s influence by traditional financial institutions during her speech at the Wyoming Blockchain Symposium. Johnson, dedicating 30% of her workday to disruptive technologies like digital assets, emphasized the immense transaction volume of the Bitcoin blockchain, which processed over $36.6 trillion in 2023, dwarfing the combined efforts of Mastercard and Visa.

Under Johnson’s leadership, Franklin Templeton has made decisive moves into the digital space, launching the pioneering OnChain U.S. Government Money Market Fund and recently proposing an ETF, EZPZ, to give investors broader exposure to digital assets. These initiatives showcase the company’s commitment to integrating blockchain technology into traditional financial frameworks, setting a new standard for asset management.

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