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Crypto

BlackRock executive says bitcoin held up despite AI stock slide, decoupling from equities

Bitcoin is lowering its correlation with equities, particularly AI-related stocks, prompting a shift in investor perception, an assessment said. BlackRock digital assets head Robert Mitchnick said investment sentiment around bitcoin has been quietly but clearly turning over the past month. He said bitcoin stayed relatively resilient even as AI-related stocks plunged in July. U.S. spot bitcoin ETFs logged $853.5 million of inflows over five sessions, led by BlackRock’s IBIT.

Crypto

BlackRock launches two ETFs in Canada including one with 3 percent bitcoin allocation

BlackRock Canada has launched two new exchange-traded funds, including one that allocates 3 percent to bitcoin, and both have begun trading on the Toronto Stock Exchange. The iShares Equity+Bitcoin ETF Portfolio allocates 97 percent to diversified equities and invests 3 percent in bitcoin through BlackRock Canada’s iShares Bitcoin ETF. The iShares Core MSCI All International Equity Index ETF invests outside Canada and the United States.

Crypto

XRP spot ETF sees outflows as bitcoin and ethereum attract inflows

XRP spot exchange-traded funds posted net outflows for the first time in about a month, with $3.58 million leaving on Aug. 5, all from Bitwise’s XRP spot ETF. Other XRP spot ETFs were flat. Cumulative net inflows for XRP spot ETFs stood at $1.51 billion and assets under management at $993.38 million. In contrast, Bitwise’s bitcoin spot ETF drew $10.56 million and its ethereum spot ETF added $1.37 million on the same day.