The iShares Bitcoin Trust ETF, or IBIT, has earned BlackRock $25 million more in fees than its second-most profitable ETF and is just shy of reaching $100 billion in net assets. BlackRock’s spot Bitcoin exchange-traded fund has generated nearly $245 million in fees over the past year, making it now the most profitable ETF for the firm by a wide margin. The iShares Bitcoin Trust ETF (IBIT) currently beats the iShares Russell 1000 Growth ETF (IWF) and the iShares MSCI EAFE ETF (EFA) by $25 million in annual revenue, BlackRock ETF analyst Eric Balchunas posted to X on Monday. IBIT became the most profitable BlackRock ETF when it surpassed IWF and EFA around mid-July, as previous X posts from Balchunas show. Read more
Activist investor calls for Polygon to scrap 2% inflation and launch buybacks to rescue POL’s price and restore investor confidence. A new proposal to overhaul Polygon’s tokenomics is gaining momentum on the project’s governance forum and across social media, as investors voice frustration over POL’s steep underperformance compared to the broader crypto market. The proposal, authored by activist token investor Venturefounder, calls for major revisions to Poilygon’s (POL) supply model, including the elimination of its 2% annual inflation rate and the introduction of a treasury-funded buyback or burn program to reduce ongoing sell pressure. “These changes are intended to align the supply dynamics of POL with its current technological and strategic reality, reinforce investor confidence, and prevent further token devaluation and network stagnation,” Venturefounder wrote in the forum post. Read more
USDT dominance dropped as a key altcoin market capitalization metric rose to $1.18 trillion, hinting that a cautiously brewing altseason could be brewing. Key takeaways: TOTAL3 market cap hit a record $1.18 trillion, signaling accelerating momentum within the altcoin cohort of the crypto market. USDT dominance dropped sharply, hinting at capital rotation into risk assets. Read more
Switzerland’s gambling watchdog is reviewing FIFA’s “Right to Buy” NFTs, while noting no wrongdoing has been alleged. Switzerland's gambling regulator is looking into whether "right-to-buy" tokens sold by global soccer organizing body FIFA ahead of the 2026 World Cup tournament comply with rules that govern gambling, Bloomberg reported. No wrongdoing has been alleged. Gespa is assessing whether the tokens, which can be bought, sold and traded on FIFA’s non-fungible token (NFT) marketplace, are gambling-like or represent conditional purchase rights. FIFA stands for Fédération Internationale de Football Association. The authority has not alleged wrongdoing nor had it received any reports of wrongdoing, and is gathering facts to determine whether any action is warranted, director Manuel Richard told Bloomberg on Monday. Read more