Live updates: Bitcoin, ether ETFs draw inflows as majors rise as much as 5%

U.S. spot bitcoin ETFs took in about $181 million on Tuesday, a day after shedding roughly $425 million, per SoSoValue data. Ether ETFs added about $58 million.

“BIP 110: Bitcoin Iatrogenic Proposal,” tweeted out Strategy Executive Chairman Michael Saylor hours ago.

For those without a dictionary close by: Iatrogenic = harm caused by the treatment itself .

The tweet naturally drew the ire of BIP 110 proponents like Matthew Kratter and Luke Dashjr .

Read more: Bitcoin's BIP-110 sparked a fight over who gets to decide the future of Bitcoin

The U.S. completed a morning round of strikes against Iran minutes ago, the U.S. Central Command announced .

“CENTCOM launched precision munitions against coastal defense systems and cruise missile storage and launch sites on Greater Tunb Island during the 90-minute wave. The strikes further degraded Iran’s ability to attack commercial shipping in the Strait of Hormuz.”

The news isn’t moving markets, with Nasdaq 100 futures still posting modest gains, oil about flat, and bitcoin holding in the $64,500 area.

The latest data shows no justification for Fed rate hikes, said Kevin Hassett, the director of the White House’s National Economic Council.

Hassett said he had a good conversation with Fed Chair Kevin Warsh a few days ago and believes Warsh will lead the central bank to the right path on interest rates.

The latest data Hassett is referring to could mean yesterday’s far slower than expected CPI report. This morning will bring the June PPI report. Warsh, meanwhile, is set to begin day two of Congressional testimony on the economy.

Shares of PayPal are up more than 21% in premarket trading at $57.3 after Reuters said Stripe and Advent International offered $60.50 a share for the firm, valuing the payments company at more than $53 billion .

The offer represents a 28% premium to PayPal’s Tuesday close and includes roughly $50 billion in committed bank financing. Stripe and Advent would hold equal stakes in the company if the deal proceeds.

The acquisition would combine two of the largest payments firms expanding into stablecoins and blockchain-based settlement. PayPal’s PYUSD stablecoin has a $2.8 billion market capitalization.

Reuters cited two people familiar with the transaction.

BlackRock's IBIT drove almost all of it, pulling in roughly $139 million, with Fidelity's FBTC adding about $21 million. No bitcoin fund lost money. On the ether side, BlackRock's ETHA accounted for the entire net figure at about $58 million, with every other fund flat.

The swing tracks the price. Bitcoin ETFs rose close to 4% on the day and ether funds about 6%, the strongest single-session move in weeks.

Total bitcoin ETF assets climbed back to roughly $78 billion from about $75 billion, and ether ETF assets crossed $10 billion.

July's flows have been choppy rather than directional. Bitcoin ETFs have swung between inflows and outflows nearly every other session this month, with July 13's $425 million redemption the largest of the run and Tuesday's rebound the second largest inflow. Neither side has held for more than three days.

CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B.

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