BlackRock’s Bitcoin ETF soars with $290m inflow!

Welcome back to Web3 Creator – your go-to source for quick-hitting alpha for the crypto degens.

Bull season is back! BTC is flirting with $69K (nice!), and ETH is dominating crypto Twitter. Let’s dive in!

• $IBIT inflow hits a 6-week high

• All about ETH ETFs: Largest candle, 20% growth, and MORE

• Notcoin’s explosive growth drives crypto adoption on Telegram

• News from the decentralized world 🗺️

• Tweet of the week 🐤

• Meme of the week 🤡

BlackRock's Bitcoin ETF hits 6-week inflow high 

BlackRock’s $IBIT recorded $290 million of inflows on Tuesday, May 21, marking the highest inflow in the past six weeks.

Market impact: BlackRock’s IBIT has accumulated $16 billion since its launch. The fund is now close to industry leader Grayscale’s Bitcoin Trust (GBTC), which manages $20 billion in assets.

Other ETF Movements:

• Not all ETFs saw positive inflows. VanEck’s Bitcoin Trust ETF and Bitwise’s Bitcoin ETF experienced outflows of $5.9 million and $4.2 million, respectively.

• The Fidelity Wise Origin Bitcoin Fund had minor inflows of $25.8 million, while other funds recorded no significant changes.

• GBTC saw no outflows on May 21, maintaining a positive streak with $72.5 million in inflows over the past five days, ending a four-month trend of outflows.

Why this matters: The enthusiasm for Bitcoin ETFs is driven by the recent price rally and the potential approval of spot Ether ETFs by the U.S. Securities and Exchange Commission. These developments have significantly boosted investor confidence in the crypto market.

ETH soars 20%! Largest ETH daily candle in history

Ethereum just went from $3,047 to $3,753 in the last 24 hours (at the time of writing).

Why?

All thanks to the U.S. Regulators.

Ethereum essentially added Solana’s entire market cap in just one day.

Three things you need to know:

1. The main reason for this huge jump is the excitement around the possible approval of the FIRST spot ETH ETF by the SEC.

2. Five major firms—Fidelity, VanEck, Franklin Templeton, Galaxy and Invesco, and ARK Invest and 21Shares—submitted updated filings for their spot Ether ETFs after last-minute feedback from the SEC.

3. Bloomberg analysts have raised their expectations for approval, with senior ETF analyst Eric Balchunas boosting the odds to 75% from 25%.

What’s next?

If the SEC approves VanEck’s application on May 23, other applications from Ark 21Shares, BlackRock, Fidelity, and others are likely to follow. 

This would be a big moment for Ethereum, making it a mainstream financial product.Most of the crypto ecosystem is built on smart contract platforms like Ethereum, not Bitcoin.

Bloomberg analyst James Seyffart says it’s a matter of 'when,' not 'if.'

Telegram’s crypto adoption driven by NOTCOIN

Telegram’s 900M user base is proving to be a greenfield for crypto.

It took less than 60 days for Notcoin to attract over 30 million users on Telegram and set up TON (The Open Network) based cryptocurrency wallets.

Notcoin is an idol game where users tap to earn NOT tokens. It has onboarded around 3% of Telegram's user base to Web3. 

Why it matters:

Its success showed how games can leverage Telegram's large audience and Web2 technologies integrated with blockchain functionality. 

“Gaining 35 million users in five months, Notcoin showed us how games can work on Telegram and how easy it can be to onboard users,” Kardan said during an interview at the Next Block Expo in Warsaw.

The potential to onboard millions to crypto through these Web3 games is significant.

News from the decentralized world 🗺️

• $BTC led the way with $942M in inflows. Bitcoin inflows surged back after a weak month. [Link]

• Solana wallet, Phantom, acquires a 16z-backed Bitski wallet platform. [Link]

• Uniswap responds to SEC Wells notice, says litigation is not the path forward. [Link]

• Gala Games exploiter returns $22M from GALA token attack. [Link]

• Trump campaign to accept crypto donations, including dogecoin and shiba inu. [Link]

• Arta TechFin, Chainlink expand partnership to tokenize real-world assets. [Link]

• Vitalik proposes solutions for Ethereum’s MEV problem. [Link]

• Farcaster secures $150M to grow users, add tools for decentralized social media protocol. [Link]

• Kraken mulls removal of USDT amidst new EU regulations. [Link]

Tweet of the week 🐤

Coinbase teased a Coinbase Pizza Food Truck for May 22 in Washington Square Park, NYC

Meme of the week 🤡

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