Friday Forecasts
Your weekly intelligence wrap from the decentralized frontier
Market Pulse
BlackRock’s Spot Bitcoin ETF Tops World’s Largest Gold Fund in Inflows This Year
The price of gold has surged almost 29% this year, solidly beating the 3.8% gain in bitcoin (BTC). Even so, that’s failed to deter investors eager to add the largest cryptocurrency to their portfolios.
BlackRock’s spot bitcoin ETF (IBIT) has attracted a net $6.96 billion in inflows since the start of the year, the sixth-largest amount of all exchange-traded funds, according to data from Bloomberg’s senior ETF analyst, Eric Balchunas. SPDR Gold Trust (GLD), the world’s largest physically backed gold ETF, slipped to the number seven position Monday with net inflows of $6.5 billion.
SOL Strategies Buys $18M of Solana Tokens With First Tranche of $500M Note Deal
SOL Strategies (HODL), the Toronto-listed digital asset firm focusing on Solana (SOL), said on Tuesday it has acquired over $18 million worth of SOL tokens, using proceeds from a newly secured financing deal.
The company purchased 122,524 SOL for $18.25 million at an average price of $148.96 per token, according to a press release. The acquisition follows the initial $20 million closing of a planned $500 million convertible note facility with investment firm ATW Partners, announced last month.
Ethereum-based investment products see inflows for second consecutive week
Digital asset products attracted $2 billion in inflows last week, which increased three-week inflows to $5.5 billion and lifted year-to-date inflows to $5.6 billion. Total assets under management climbed to a 10-week high of $156 billion, according to a CoinShares report on Monday.
U.S.-based funds accounted for most of the patronage, some $1.9 billion. Germany, Switzerland, and Canada also contributed modest flows in a signal of “broad supportive sentiment” for cryptocurrencies, Butterfill wrote.
Narratives to Watch
Fed Quietly Injects $20B—What It Means for Crypto
While headlines stayed silent, the move is far from routine. It wasn’t part of a scheduled auction or monetary policy update.
Instead, it was a backdoor liquidity injection. It is an effort to pump dollars into the financial system without triggering alarm bells. For crypto investors, this isn’t just a footnote—it could be a turning point.
A Silent Stimulus in Plain Sight
The Fed faces a dilemma: it can’t openly cut interest rates without spooking markets, and it can’t print new money without risking public trust in the dollar. So instead, it’s opted for a quieter tool—purchasing short-term Treasury bonds directly. This method adds liquidity into the financial system without the fanfare of quantitative easing or rate cuts.
Bitwise CIO: Big Banks to Launch Bitcoin ETFs by 2025
Hougan believes all four major wirehouses will allow Bitcoin ETF access by year’s end, setting the stage for record inflows
At a recent wirehouse conference, Bitwise CIO Matt Hougan’s keynote signaled a major shift. Hougan believes this long-anticipated move could lead to record-setting inflows into Bitcoin ETFs.
From Doubt to Decision: What It Takes to Believe in Bitcoin
After his talk, Hougan was approached by a conference attendee who had waited quietly in line to ask a single question: “What would Bitcoin be worth if everyone stopped believing in it?” It’s a common fear. Bitcoin is digital, intangible, and lacks the physical “backstop” of assets like gold. If sentiment fails, what’s left? Hougan acknowledged the concern, admitting he’s wrestled with it too.
️Protocol Watch
HTX launches USD1: the new stablecoin that promises to revolutionize decentralized finance
HTX, one of the leading cryptocurrency exchanges globally, has officially announced the launch and listing of USD1, the new stablecoin managed by the Trump family. With this move, HTX becomes the first platform in the world to support the trading of this new digital asset, marking a decisive step towards the evolution of the decentralized economy.
The stablecoin USD1 is issued by World Liberty Financial (WLFI) and is fully compliant with US regulatory standards. The custody of the asset is entrusted to BitGo Trust Company, a guarantee of transparency and security for investors. Each token is pegged 1:1 to the US dollar, thus offering a stable and reliable solution for those seeking a digital alternative to fiat currency.
Adidas Reveals In-Game Apparel Drop for ‘Xociety’ Shooter on Sui
Adidas and the makers of Sui-based game Xociety announced a collaboration this week to release limited edition NFT mystery boxes containing in-game character skins, marking the athletic apparel brand’s latest move in the blockchain world.
The collection, launching May 16, will offer 2,600 mystery boxes priced at $129 each, each containing Adidas-themed virtual clothing and accessories for player avatars in Xociety—a “pop shooter” game built on the Sui blockchain.
Regulatory Radar
SEC Crypto Roundtable 2025: Paul Atkins Keynote and Major Institutions Like Fidelity, Nasdaq, BlackRock, and Invesco to Discuss Tokenization
The upcoming SEC crypto roundtable on May 12, 2025, featuring a keynote address by SEC Chair Paul Atkins, has sparked significant interest in the cryptocurrency and stock markets. This event, focused on tokenization, brings together major financial players such as Fidelity, Nasdaq, BlackRock, and Invesco as panelists, signaling a potential shift in regulatory perspectives on digital assets. According to a tweet by industry commentator Gordon on May 6, 2025, the presence of these institutional giants suggests a growing acceptance of tokenized assets, which could have far-reaching implications for both crypto and traditional markets. Tokenization, the process of converting real-world assets into digital tokens on a blockchain, is seen as a bridge between conventional finance and decentralized ecosystems.
UK Treasury Secretary Says No To National Bitcoin Reserve
Speaking at the Financial Times Digital Asset Summit in London on Tuesday, Emma Reynolds, Economic Secretary to the Treasury, emphasized that while the UK aims to become a crypto hub, it will take a different approach from both the U.S. and EU in regulating Bitcoin and crypto.
“We don’t think that’s appropriate for our market,” Reynolds said regarding a national Bitcoin reserve. “We understand that’s what the U.S. is going for, but that’s not the plan for us.”
Moonrig Perspective
Markets are maturing — and so are narratives.
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