Crypto Market Fear Subsides Significantly, Today's Fear and Greed Index at 45

June 2: Self-proclaimed “Stock God” Serenity posted that U.S. photonics stock AAOI is their top pick in the sector, with shares rallying 20.1% in trading today. Serenity argues that for investors chasing the “next AMD,” AAOI is the name to watch. The expert predicts photonics-related firms could see a significant turning point in the first half of 2027—though entering the second half of 2026 right now is still too early, as the industry remains in a capacity-building phase. Serenity added that, generally, outside of aerospace and quantum-focused concepts, the market typically prices in future growth roughly 8 months in advance. They believe the inflection point for accelerating revenue growth among photonics stocks is approaching, so the key is to wait for the right timing and weather the upcoming interim volatility.

June 2 — Fueled by a sharp surge in the stock prices of major chip giants, South Korea’s stock market has surpassed India’s to become the world’s sixth-largest equity market. Data shows South Korea’s total market capitalization for listed companies has soared 86% this year to hit $5 trillion, while India’s has dropped to $4.8 trillion. Earlier this year, South Korea’s stock market also overtook those of Canada, Germany, the U.K., and France. (FXStreet)

June 2 — According to Bitget market data, the three major U.S. stock indexes closed modestly higher, with the Dow Jones Industrial Average gaining 0.09%, the S&P 500 advancing 0.26%, and the Nasdaq Composite climbing 0.42%, all hitting fresh closing highs. Cryptocurrency-related stocks traded broadly lower on the session: Bullish (BLSH) dropped 7.99%, Circle (CRCL) slipped 7.11%, MicroStrategy (MSTR) declined 5.85%, American Bitcoin (ABTC) fell 4.42%, Robinhood (HOOD) edged down 3.79%, and Coinbase (COIN) decreased 3.40%.

June 2nd – Belgian digital asset service provider Keyrock is acquiring bankrupt cryptocurrency exchange and lending firm BlockFills for $3.25 million, pending court approval. Keyrock will take nearly all of BlockFills’ assets, some of its liabilities, partial equity, client list, and proprietary technology and intellectual property under the terms of the deal. BlockFills filed for Chapter 11 bankruptcy in March, reporting debts of $1 billion to $5 billion while its assets were valued at just $50 million to $100 million. This acquisition will grant Keyrock access to BlockFills’ institutional client network, including hedge funds, asset management companies, market makers, and mining firms. Last year, Keyrock closed a Series C funding round led by SC Ventures—a subsidiary of Standard Chartered Bank—at a $1.1 billion valuation. It also acquired Luxembourg-based fund management firm Turing Capital last fall.

On June 2, Grayscale filed an amended S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) for its Grayscale Hyperliquid Staking ETF, setting an annual management fee of 0.29% and assigning it the ticker symbol HYPG. That fee undercuts comparable products from Bitwise and 21Shares: Bitwise’s BHYP Hyperliquid ETF charges 0% for its first month, then rises to 0.34% afterward, while 21Shares’ THYP carries a 0.30% fee. Bloomberg ETF analyst James Seyffart said Grayscale’s Hyperliquid ETF is on the cusp of launching, with expectations it could go live as early as this week. If successful, the fund will be the third Hyperliquid ETF to hit the market. Through last month, cumulative net inflows into HYPE-related ETFs topped $132 million, according to reports.

On June 2, MicroStrategy (referred to as "Strategy" in the original context) disclosed that it sold 32 Bitcoin last week, sparking a settlement dispute on Polymarket—a prediction market platform with over $75 million in total trading volume. The specific market at the center of the debate asked: *Will MicroStrategy sell any Bitcoin before May 31st?* Traders could wager on either "Yes" or "No." In an SEC filing made public Monday, the company revealed it completed the 32 BTC sale between May 26 and May 31, raising roughly $2.5 million to fund allocations tied to its preferred stock issuance. This marks MicroStrategy’s first disclosed Bitcoin sale since December 2022. Traders supporting a "Yes" settlement argue the SEC filing clearly proves the sale occurred before the May 31 deadline. Meanwhile, those backing a "No" settlement contend the relevant information wasn’t made public before the market’s cutoff, so it should resolve to "No." Notably, this market has already settled as "No" t