Here’s what happened in crypto today
Today in crypto, Bitcoin shed some of its gains amid reports that US President Donald Trump called the National Security Council to the White House’s situation room amid escalating conflict in the Middle East. Coinbase and Gemini are pursuing licenses to operate in Europe, and crypto investment funds recorded fresh inflows last week amid a broader market rebound.
Bitcoin dips amid reports Trump has called advisers to situation room
Bitcoin and cryptocurrency markets dipped after US President Donald Trump leaving a summit of world leaders and posting an ominous message about Tehran.
Trump has requested that the National Security Council be prepared in the White House Situation Room as he returned early from the G7 summit in Canada on Monday, Fox News reported.
The report comes just hours after Trump took to his social media platform, Truth Social, with a chilling message: “Everyone should immediately evacuate Tehran!”
Bitcoin prices reacted immediately with a sharp 2% decline as it shed more than $2,000 over the past few hours.
Bitcoin had earlier strengthened to an intraday high of $108,780, but the latest news sent it back to $106,421 before a minor recovery.
Gemini, Coinbase expected to secure EU licenses under MiCA — Report
Crypto exchanges Gemini and Coinbase are reportedly set to secure licenses to operate in the European Union, marking a significant step in their expansion under the newly implemented Markets in Crypto-Assets (MiCA) regulations.
Gemini is on track to receive approval from Malta, while Coinbase is expected to obtain its license through Luxembourg, Reuters reported Monday, citing unnamed sources familiar with the matter.
A Coinbase spokesperson declined to comment on the specific application but told Reuters that Luxembourg is a “well-respected global financial center.”
Gemini and Coinbase would join other major exchanges moving into the EU under the MiCA framework. As previously reported by Cointelegraph, Bybit recently gained regulatory approval to operate in the region via Austria.
In January, Binance updated its deposit and withdrawal procedures in Poland to comply with the MiCA framework.
Regulations under the MiCA framework took effect in June 2024, with full implementation following in December after the European Securities and Markets Authority (ESMA) issued final guidance for EU member states.
Crypto funds notch $1.9 billion of inflows as Bitcoin rebounds
Cryptocurrency investment products continued their multi-week inflow streak as Bitcoin (BTC) traded close to new highs and Ether briefly surged past $2,800 for the first time since February.
Global crypto exchange-traded products (ETPs) recorded $1.9 billion of inflows in the trading week ended Friday, moving a nine-week streak of inflows to $12.9 billion, CoinShares reported on Monday.
With the new inflows, crypto ETPs set a historic record of year-to-date (YTD) inflows of $13.2 billion, wrote CoinShares’ head of research, James Butterfill.
Total assets under management (AUM) in crypto ETPs edged up to $179 billion from last week’s $175.9 billion.
After two weeks of minor outflows, Bitcoin investment products recovered to see significant gains, topping the chart last week with $1.3 billion of inflows. Short-Bitcoin products also recorded modest inflows of $3.7 million, though their AUM remained low at $96 million.
Ether (ETH) ETPs ranked second in inflows, maintaining their positive trend with a further $583 million in inflows last week. According to CoinShares’ Butterfill, the inflows marked ETH product’s largest gains since February, including their strongest single-day inflows.
Following a three-week run of outflows, XRP (XRP) investment products saw $11.8 million in inflows last week, while Sui (SUI) products saw a further $3.5 million in inflows.
