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Shiba Inu rebound fails to lift spot demand as burn value plunges to about $13

Shiba Inu\'s daily burn amount plunged to about $13 on July 9, a day after a sharp increase. U.Today reported that 113,192,435 SHIB were burned on July 8, the biggest burn in about six months, but only 2.64 million SHIB were burned over the past 24 hours on July 9. The token’s price stayed around $0.000004, while market participants remained cautious. Data showed falling derivatives volume but rising open interest.

Crypto

Ex-Elon ETFs launched excluding Tesla and SpaceX

Two exchange-traded funds excluding companies linked to Elon Musk have been registered in the United States. ETF manager Subversive Capital launched two “Ex-Elon” products that keep a Nasdaq 100 and S&P 500 large-cap structure but remove Tesla and SpaceX from inclusion. The funds are designed to block exposure to those companies. Filings say they seek capital gains from broad U.S. large-cap exposure while excluding stakes in firms founded, controlled, led or primarily associated with Musk.

Crypto

DeFi down 4 percent while bitcoin falls 22 percent; Bitwise says quiet rerating underway

DeFi tokens have shown a relatively resilient trend versus bitcoin over the past month, raising the possibility of a market rerating. Bitwise said its DeFi index fell 4 percent in June while bitcoin dropped about 22 percent, an unusual divergence given DeFi’s typically higher volatility. It cited growing institutional use and improved token economics but noted index concentration in Hyperliquid’s HYPE and a decline in total value locked. It highlighted U.S. regulation and stablecoin expansion as key variables.