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Crypto

Bitcoin spot ETFs extend outflows, key focus on $60,000 and FOMC

Bitcoin spot exchange-traded funds have seen about $2.1 billion in net outflows so far in June, nearing May’s total net outflows of $2.4 billion. Total net assets in bitcoin spot ETFs fell to $77.0 billion from $109.0 billion since May 10, while bitcoin slid 27 percent at one point. Analysts cited arbitrage redemptions, fee-driven fund rotation and shifts into AI stocks and planned IPOs, while macro uncertainty and inflation remain in focus.

AI & Enterprise

KOSPI swings wildly day to day, drawing foreign focus as \'crypto-level\' volatility

South Korea’s benchmark KOSPI seesawed over two days, falling 8.29 percent and then rebounding 8.18 percent, a swing of about 17 percent. CryptoSlate called the moves comparable to the volatility seen in cryptocurrencies. The surge in the index has been led by a handful of large chipmakers, while a strong U.S. jobs report, weaker AI outlook from Broadcom and high leverage among retail investors intensified selling pressure. Investors are watching the next Federal Reserve meeting and inflation data.

AI & Enterprise

Governments stockpile Nvidia chips as sovereign AI emerges as new growth driver

Nvidia could use growing government investment in sovereign AI to reduce its reliance on large cloud companies, an analysis said. As demand rises for national AI infrastructure, it could ease concerns about Nvidia’s revenue being concentrated among a small number of hyperscalers. U.S. investor Jim Cramer said sovereign AI could help address customer concentration worries as governments build domestic data centres and computing capacity to secure technology sovereignty.