U.S. spot Bitcoin ETFs recorded $2.4 billion of net inflows during the week, their largest weekly intake since October, pushing year-to-date flows back into positive territory after they stood approximately $5.8 billion in the red two months ago. The funds recorded seven consecutive sessions of net inflows, drawing nearly $3 billion over that stretch. Bitcoin was priced at $84,412 at the observation point, up 0.4% over 24 hours, with $18.1 billion in 24-hour trading volume.
The inflow pace underscores that regulated exchange-traded products continue to serve as the primary institutional vehicle for absorbing secondary spot supply and reversing capital flight. Re-establishing positive net issuance year-to-date improves liquidity depth and institutional balance-sheet sentiment across the asset class. However, whether this allocation pace represents durable structural accumulation or opportunistic positioning remains uncertain, particularly as spot prices remain below the week's earlier highs.
The U.S. Court of Appeals for the Sixth Circuit ruled against Kalshi in its challenge against Ohio and Tennessee restrictions on sports-event contracts, finding that the platform failed to establish that its offerings qualify as swaps under the Commodity Exchange Act. The decision obligates Kalshi to exclude users in the affected states and widens a circuit split that increases the likelihood of Supreme Court review. For prediction-market and event-contract infrastructure, the ruling reinforces state-level licensing fragmentation and regulatory boundary risks, though ultimate jurisdictional clarity remains subject to further appeal.
CleanSpark closed a $2.276 billion debt transaction to finance the construction of its Sandersville, Georgia data center, issuing 7.875% notes to fund development and reimburse earlier equity contributions under a 20-year lease. The issuance demonstrates continued access to large-scale institutional debt for digital-infrastructure operators expanding power and compute capacity. At a 7.875% coupon, long-term credit viability hinges on facility operational execution, power costs, and sustained infrastructure yield across market cycles.
Solana client development firm Anza deployed the Alpenglow upgrade to devnet, prompting application developers to test programs and integrations ahead of an eventual mainnet migration. The architectural change is designed to move validator voting off-chain, potentially reducing consensus congestion and restructuring base-layer network capacity. Because mainnet activation remains pending, the upgrade carries no immediate production impact on transaction fees, validator economics, or asset settlement; SOL traded at $121.41, down 0.6% over 24 hours.