Bloomberg analyst Eric Balchunas wrote on the X platform that the Bitcoin/Ethereum spot ETF rates of three fund companies in Hong Kong were 30 basis points, 60 basis points and 99 basis points respectively, which were on average lower than our expectations. ETF analyst James Seyffart said that Hong Kong may have a potential fee war due to these Bitcoin and Ethereum ETFs. Harvest is about to launch, with a full fee exemption, with a minimum fee of 0.3% after the exemption.
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Musk posted on X that xAI acquired X in an all-stock deal. The deal values xAI at $80 billion and X at $33 billion, or $45 billion minus $12 billion in debt.
Spot gold rose 0.88% to $3,084.25 an ounce; COMEX gold futures rose 0.59% to $3,116.6 in June, up 2.26% this week; both continued to hit record highs. COMEX silver futures fell 0.82% to $34.795 an ounce, up 3.71% this week.
U.S. stocks opened lower and went lower. All three major indexes closed sharply lower. The Nasdaq fell 2.7% and fell 2.59% this week; the S & P 500 fell 1.97% and fell 1.53% this week; the Dow fell 1.69% and fell 0.96% this week. Large technology stocks fell generally. Netflix, Google, Amazon, and Meta fell more than 4%. Tesla, Microsoft, and Intel fell more than 3%. Apple fell more than 2%. Nvidia fell more than 1%.
Fidelity bought nearly $100 million worth of Bitcoin today, and Fidelity's Bitcoin ETF (FBTC) received an inflow of $94.20 million from Coinbase Prime, according to the latest data from Arkham. As of now, the total value of Bitcoin held by Fidelity FBTC has reached $16.60 billion.
According to AXIOS, a senior White House official has revealed that the Trump administration is unexpectedly considering higher taxes on wealthy Americans. Some White House officials believe that higher taxes on high-income groups will provide room for other priority issues. It also helps to blunt attacks from Democrats at a time when Republicans are trying to extend President Donald Trump's 2017 tax cuts.
According to market news, the U.S. Commodity Futures Trading Commission (CFTC) has withdrawn its advisory opinion on the listing of virtual currency derivatives.
On March 29th, according to the US Geological Survey Earthquake Information Network, a magnitude 6.6 earthquake occurred in the central waters of the Mid-Atlantic Ridge at 1:17 am Beijing time on the 29th. The epicenter was located at 0.72 degrees north latitude, 29.76 degrees west longitude, and the focal depth was 6.4 kilometers.