10 #Bitcoin ETFs inflows 7,066 $BTC(+$703.6M) and 9 #Ethereum ETFs inflows 14,425 $ETH(+$48.32M) yesterday.

ENA treasury firm StablecoinX (USDE) released its first quarterly results since going public. As of the end of Q2 2026, the company held approximately 3 billion ENA tokens, accounting for roughly 20% of ENA’s total supply. Valued at over $250 million at current prices, based on 24 million Class A outstanding shares as of the quarter end, this translates to roughly $9.09 per share. Following the announcement, StablecoinX’s stock rose more than 12% in early Friday trading. StablecoinX posted a net loss of $34.2 million in Q2, with most of the loss stemming from a $36.2 million impairment on its ENA holdings. The company’s operations remain in the early stages; infrastructure service revenue for the final two weeks of June totaled just $62,372, while its decentralized validator nodes have processed over $3 billion in cumulative cross-chain volume. StablecoinX began trading on the Nasdaq under the ticker symbol USDE on June 26. Approximately 285 million of its ENA treasury tokens came from the Ethena Foundation, while another 2.75 billion were acquired via cash and in-kind investments from PIPE financing.

U.S. Securities and Exchange Commission (SEC) filings show that Saudi Arabia’s Public Investment Fund (PIF) has disclosed a holding of 154.1 million Class A shares in SpaceX (SPCX).

According to Yonhap News Agency, SK Group Chairman Choi Tae-won has filed an appeal against the ruling in his high-profile, high-value divorce case.

OpenAI's Chief Financial Officer Flair is set to hold an investor meeting today. (Jinshi)

Glassnode stated in a report that Bitcoin’s native options market remains generally sluggish overall, with implied volatility (IV) and skewness continuing to narrow, while positions are gradually concentrating around key strike prices, making the options market structure more distinct. Data shows Bitcoin’s short-dated IV has continued to decline, with the 1-period at-the-money (ATM) IV dropping to around 26%, while the 6-month tenor remains at roughly 39%. The term structure has steepened further, indicating traders’ low expectations for short-term price volatility, while still pricing in longer-term uncertainty. Demand for downside protection in the market has weakened, and overall option positions are no longer as defensive as they were previously. On the gamma exposure front, negative gamma is primarily concentrated in the lower $60,000 range, while positive gamma has gradually shifted to around $70,000. This means BTC is more likely to see larger price swings during downward moves, while upward approaches to the $70,000 level may be stabilized by market maker hedging. The options market’s defensive posture has eased somewhat, though it has not yet entered excessive complacency. The decline in implied volatility and skewness reflects easing short-term panic, while the concentration of gamma and strike positions indicates that the $60,000 to $70,000 range remains the key zone for Bitcoin’s next directional move.

Morgan Stanley’s latest 13F filing with the U.S. Securities and Exchange Commission (SEC) shows that as of June 30, it held approximately 16.5 million shares of BlackRock’s IBIT, a 23% increase from the 13.4 million shares held in the first quarter. However, due to a decline in Bitcoin prices during the quarter, the position’s market value fell to $549 million from $667 million, a roughly 18% drop. During the same period, Morgan Stanley also held 2.57 million shares of MSBT worth around $43.3 million, and increased its holdings in Grayscale Bitcoin Mini Trust, Bitwise Bitcoin ETF, and Fidelity’s FBTC, with FBTC positions rising nearly 38%. For Ethereum-related assets, its holdings of ETHA surged approximately 202% to 4.6 million shares, while its stake in Grayscale Ethereum Staking Mini ETF rose by around 26% to 5.1 million shares. Additionally, Morgan Stanley established new positions in Grayscale’s Solana Staking ETF and Fidelity’s Solana Fund, with respective market values of roughly $4.25 million and $2.26 million. In terms of individual stocks, Morgan Stanley’s holdings in Circle (CRCL) jumped from approximately 1.46 million shares to 8.32 million shares. It also expanded positions in crypto mining and infrastructure firms including Cipher Digital, Core Scientific, Hut 8, and Bitdeer. Conversely, it trimmed its Coinbase stake by around 550,000 shares, cut holdings in CleanSpark by more than 3.1 million shares, and liquidated its entire position of roughly 8 million shares in Bitfarms.