Crypto Biz: Cantor Fitzgerald crypto play, ETF inflows highlight industry’s big sentiment shift
US President Donald Trump’s initial 90 days in office negatively impacted Bitcoin and the cryptocurrency sector, despite positive regulatory developments. A sentiment shift occurred with reports of Trump easing tariffs on China and a deal between Trump Media and Crypto.com for ETFs. Bitcoin ETFs experienced significant inflows, with $381.3 million on April 21 and $912.7 million the following day, pushing Bitcoin prices to $94,000 and nearing a $3 trillion market cap. Cantor Fitzgerald is reportedly establishing a $3 billion crypto venture, 21 Capital, with contributions from Tether, Softbank, and Bitfinex. Coinbase is considering applying for a US federal bank charter to integrate traditional banking with digital assets. Tesla, despite a 71% drop in net income, retained its Bitcoin holdings of 11,509 BTC, valued at nearly $1.1 billion.
