U.S.-listed spot Bitcoin ETFs posted combined net inflows of $170.1 million on Aug. 3, according to data compiled by Trader T. BlackRock's IBIT led the group with $111.43 million of net additions, followed by Fidelity's FBTC at $33.36 million. Franklin's EZBC took in $9.23 million, Invesco's BTCO added $6.67 million, and VanEck's HODL gained $4.52 million. Most other spot Bitcoin ETF products reported small inflows or saw flows remain broadly flat.

THE BLOCK: Spot bitcoin ETFs recorded $170 million of net inflows on Monday, while spot ether ETFs posted $11.4 million of net outflows. bitcoin:native rose 1.46% over the past 24 hours to $63,764. ethereum:native added 0.3% to $1,862.

Odaily Planet Daily report: SoSoValue data show that spot Bitcoin ETFs posted a combined net inflow of $170 million on Aug. 3 (U.S. Eastern Time). BlackRock's IBIT led all products with $111 million in single-day net subscriptions, lifting its cumulative historical net inflow to $60.593 billion. Fidelity's FBTC ranked second, taking in $33.3598 million on the day and bringing its historical net inflow to $9.953 billion. As of publication, the spot Bitcoin ETF complex held $77.58 billion in total net assets. The category's net asset ratio—ETF market capitalization as a share of Bitcoin's total market cap—stood at 6.06%, while cumulative net inflows since launch reached $51.495 billion.

MicroStrategy sold 1,638 Bitcoin for $104.7 million late last month, using the proceeds to support its STRC perpetual preferred stock and bolster liquidity, according to SEC filings. Between July 27 and Aug. 2, the company sold 1,638 BTC at an average price of $63,957. It directed $52.4 million to STRC dividend payments and $52.3 million to repurchasing STRC shares. Following the sale, MicroStrategy held 842,138 BTC, acquired for a total cost of roughly $63.5 billion. During the same period, MicroStrategy also raised $290.6 million by selling MSTR common shares. The company added $250 million to its U.S. dollar reserve, spent $28.9 million on additional STRC repurchases and allocated $11.7 million to increase cash. Executive Chairman Michael Saylor said on X that MicroStrategy repurchased $81.2 million of STRC over the period and extended its U.S. dollar funding runway by 57 days to about 2.3 years. He added the company now holds ₿842,138 and around $4.0 billion in its USD reserve. The actions follow a capital framework introduced at the end of June that explicitly allows Bitcoin sales to fund preferred dividends, debt obligations, approved repurchases and the firm's dollar reserve. The policy marks a shift from MicroStrategy's earlier posture of channeling most available cash into additional BTC purchases. STRC remains central to MicroStrategy's fundraising strategy. Yet the preferred traded around $89.40 in Monday premarket trading, about 10.6% below its $100 stated value, making discounted issuance a less efficient funding source. Management has said it wants STRC closer to par before resuming more aggressive Bitcoin accumulation. The company has increased the pace of Bitcoin disposals this summer. In early July, it sold 3,588 BTC (about $216 million) on July 6 and also disclosed a 32 BTC sale in early June, its first reported Bitcoin sales since a tax-related transaction in 2022. On the Q2 earnings call (July 31), Saylor said MicroStrategy would no longer deploy every dollar immediately into Bitcoin. CEO Phong Le said the firm would pause new BTC purchases while STRC trades below its $100 stated value. By July 26, MicroStrategy had built a $3.75 billion USD reserve; subsequent stock sales lifted that figure to about $4 billion. Management said the reserve is intended primarily to cover preferred dividends and debt obligations unless the board approves other uses. On dividends and buybacks, MicroStrategy kept STRC's annual dividend rate at 12% for August despite the preferred trading below par. A June 29 policy revision shifted dividend decisions to consider market price, competing yields, Bitcoin volatility, credit spreads and cash-reserve coverage rather than automatically increasing payouts whenever STRC trades under $100. The company has leaned more heavily on discounted STRC buybacks instead of repeated dividend hikes. Filings show roughly $25 million of STRC repurchases between July 20 and July 26, with nearly $1 billion remaining under its preferred-securities repurchase authorization. Market commentary has been mixed. CryptoQuant founder Ki Young Ju urged a temporary pause in Bitcoin buying to rebuild cash reserves and adopt a more systematic purchase framework. MicroStrategy reported an $8.22 billion net loss in Q2, driven by an $8.32 billion unrealized fair-value loss on its Bitcoin holdings. Management said the accounting loss does not change its long-term Bitcoin strategy, while emphasizing that restoring STRC closer to $100 is a near-term priority before ramping up new BTC purchases. Benchmark and H.C. Wainwright maintained buy ratings following the quarter, though Benchmark reduced its price target. Analysts pointed to the larger cash reserve, preferred-share repurchases and a clearer financing playbook as potential positives for future capital raising, while noting the company remains closely tied to Bitcoin prices and demand for STRC. MicroStrategy is trimming a small portion of its Bitcoin position and issuing MSTR stock to reinforce liquidity and stabilize STRC, aiming to preserve funding flexibility and potentially resume BTC accumulation when market conditions improve.

Hashdex announced on July 31 that it will wind down and liquidate its NYSE Arca-listed spot Bitcoin ETF, the Hashdex Bitcoin ETF (ticker: DEFI), citing a lack of investor interest and limited trading activity. According to a report by The Wall Street Journal, DEFI will cease trading after the market close on Aug. 17, 2024. As of July 30, the fund managed approximately $14.7 million in assets, making it one of the smallest US spot Bitcoin ETFs. Hashdex confirmed that creations will be halted after Aug. 17, with the firm planning to sell the fund's Bitcoin holdings and distribute cash proceeds to shareholders around Aug. 28. Despite the closure, Hashdex stated its broader US crypto ETF strategy remains intact, noting that its Nasdaq CME Crypto Index ETF (NCIQ) held over $206 million as of July 31.

BBX Update: Public companies are showing a clearer, more deliberate playbook for managing crypto treasuries—using liquidity where it helps the capital structure, while steadily expanding positions in yield-generating PoS assets. Strategy (NASDAQ: $MSTR) sold 1,638 BTC for $104.7 million, directing the proceeds to preferred dividend payments and STRC share repurchases. The company still reports a base holding of 842,138 BTC. Bitmine (NYSE: $BMNR) increased its Ethereum treasury by 10,399 ETH last week, lifting total holdings to 5,797,813 ETH—about 4.8% of ETH’s total network supply. In Europe, France’s Capital B (Euronext: $ALCAP) and the UK’s The Smarter Web (LSE: $SWC) continued long-term dollar-cost averaging, adding 1 BTC and 9 BTC, respectively. Two themes are emerging in parallel: leading U.S. corporate treasuries are tapping crypto liquidity to support preferred dividends and manage market cap, while yield-focused treasuries keep consolidating Ethereum reserves regardless of volatility. Source: bbx.com

Aug. 4 — Cardone Capital, a U.S. real estate investment firm, has added 350 BTC to its Bitcoin holdings, worth about $22.3 million, according to a social media post from CEO Grant Cardone.

On-chain analyst Ai Yi (@ai_9684xtpa) said trader @GreeksLive has sold 2,709 Bitcoin call options with a combined notional value of about $173 million, positioning for BTC to remain under $70,000 through the contracts’ Sept. 25 expiry. If Bitcoin finishes below that strike at expiration, the trader is set to collect roughly $3.03 million in premium income, suggesting muted expectations for a major rally over the next 52 days.

Huo Xing Finance reported on Aug. 4, citing onchain analyst Aunt Ai (@ai_9684xtpa), that a trader sold 2,709 BTC call options struck at $70,000 with an expiration date of Sept. 25. The position carries roughly $173 million in notional value and implies a view that Bitcoin will not gain more than about 9.5% over the next 52 days. The trader collected approximately $3.03 million in option premiums. If BTC settles below $70,000 at expiry, the seller keeps the full premium; a sharp move above the strike could lead to losses.