U.S. spot bitcoin ETFs pulled in $265.69 million on Monday — the largest daily inflow in over a month — led by BlackRock's IBIT at $209.40 million. Ether ETFs added $20.66 million, led by ETHA at $23.29 million. The returning bid comes even as bitcoin retreated from $64,000 back toward $62,900 after Strategy's latest sale news landed. Analyst Will Clemente flagged bullish momentum divergence and relative strength vs. equities as reasons the setup "is the most interesting spot for crypto in a while." The weekly picture is still negative — eight straight weeks of net ETF outflows — but Monday's number suggests the directional turn may be underway.
The SEC's long-awaited "Reg Crypto" is now with the White House Office of Information and Regulatory Affairs — one sign-off away from publication — and Chair Paul Atkins says it could drop this month. The rule would create a fundraising exemption allowing startups to raise up to a defined ceiling in crypto assets during any 12-month period, and carve out a four-year registration exemption for developers to reach "maturity" without triggering securities law. Atkins has made clear the proposal focuses on startups rather than incumbents: "We want people really to experiment within that framework."
The 25-day post-IPO quiet period expired Tuesday and Wall Street launched coverage of SpaceX (SPCX) with near-unanimous bullishness. Goldman Sachs set a $205 target, Morgan Stanley went to $300, and other firms ranged as high as $800 — all buy-equivalent ratings. The stock priced at $135 in June's $75 billion IPO and is currently trading around $150, down from post-listing highs. SpaceX held 18,712 BTC as of March 31, making its Nasdaq 100 inclusion this week — and the passive buying it will trigger — another point of crypto-adjacency for the asset class to watch.
