Crypto Rebounds with ETF Inflows and Treasury Expansions Driving Momentum

Happy Thursday, TM Family!

Welcome to the Token Metrics Research | Daily newsletter, where we cover key market movements, regulatory updates, and early alpha for our readers and investors. 

Let's dive in! 

Today's edition of Token Metrics Research | Daily Newsletter is brought to you by Elite Trade Club.

The market moves fast - we make sure you don’t miss a thing.

Elite Trade Club delivers clear, no-fluff market intel straight to your inbox every morning.

From stocks to big-picture trends, we cover what actually matters.

Join 100,000+ readers who start their day with the edge.

Click Here to Join Now

 Now let's get back to the top stories of the day.

Bitcoin and Ether ETFs are drawing fresh capital as prices climb, signaling institutional confidence in a macro pivot. On September 10, Bitcoin ETFs pulled in $757M, the strongest since July, led by Fidelity's FBTC at $299M and BlackRock's IBIT at $211M, coinciding with BTC topping $114,000.

Ether ETFs reversed outflows with $171M net inflows, driven by BlackRock's ETHA ($74.5M) and Fidelity's FETH ($49.5M), as ETH crossed $4,400. 

Dogecoin outpaced the pack with a 5% daily gain and 15.9% weekly rise, while Solana's TVL hit a record $12.3B, up 57% since June, hinting at SOL's path to $300 if risk appetite holds.

Historically, BTC's undervaluation against U.S. M2 growth, like the current gap, has preceded rallies, as seen in 2016, 2019, and 2021. With Fed rate cut odds at 82% on Polymarket, expect these flows to bolster structural demand into Q4.

The race for Hyperliquid's USDH stablecoin contract is intensifying, with Native Markets leading at 30.8% of the delegated stake amid validator voting set to conclude September 14. Contenders like Paxos (7.6%), Ethena (4.5%), Frax, Agora, and Sky are vying to issue the Hyperliquid-native stable. Currently, they have $5.5B in USDC, 7.5% of USDC's supply.

Proposals promise hefty yields: Frax at 100% treasury passthrough (up to $220M annually), Paxos at 95% for HYPE buybacks, and Sky offering 4.85% returns plus $25M for a "Hyperliquid Star" project.

VanEck is piling in with plans for a U.S. HYPE spot staking ETF and European ETP, allocating net profits to HYPE buybacks, as Hyperliquid tops blockchain revenues for four weeks straight. This could reshape DeFi liquidity, redirecting millions in yields and boosting HYPE's ecosystem dominance.

This edition of the newsletter is co-presented by The Marketing Millennials.

The best marketing ideas come from marketers who live it. That’s what The Marketing Millennials delivers: real insights, fresh takes, and no fluff. Written by Daniel Murray, a marketer who knows what works, this newsletter cuts through the noise so you can stop guessing and start winning. Subscribe and level up your marketing game.

Sign Up Free

Let's continue with the top stories for the day.

Corporate crypto treasuries are expanding despite hurdles, with BitMine adding 46,255 ETH ($201M) via BitGo, pushing holdings to 2.1M ETH ($9.3B) toward a 5% Ethereum supply goal.

Pop Culture Group bought 300 BTC ($33M) to build a Web3 entertainment fund, eyeing ETH and altcoins like BOT. Avalanche Foundation is nearing $1B raises via Hivemind and Dragonfly to spawn AVAX treasuries and sell tokens at discounts.

Solana DATs are booming, with Galaxy, Multicoin, and Jump targeting $1B, Sharps at $400M (up to $1B), and Pantera at $1.25B, leveraging SOL's $104B market cap and 60% staked supply for amplified gains.

Yet, the S&P 500 snubbed MicroStrategy (now Strategy) despite its $93B cap, a "blow to crypto treasuries" per JPMorgan. This signaled caution on BTC-heavy models and slowing equity issuances. This mix underscores treasury strategies' allure but highlights regulatory and index risks. Watch for shifts to operating-focused plays like exchanges.

SEC Chair Paul Atkins declared "most crypto tokens are not securities," promising clarity via Project Crypto to end enforcement-driven uncertainty and enable on-chain capital raises.

However, the agency delayed staking approvals for BlackRock, Fidelity, and Franklin Templeton's ETH ETFs, plus XRP and SOL funds, amid over 90 pending crypto ETFs.

On the partnership front, Binance and Franklin Templeton are teaming on tokenization, blending $1.6T in AUM with blockchain for efficient settlements.

Nasdaq invested $50M in Gemini ahead of its IPO (ticker GEMI), raising up to $317M and integrating custody/staking with Nasdaq's Calypso platform.

Robinhood launched "Robinhood Social" for trade-tied posts, joining Coinbase and Base in SocialFi trends to boost engagement. Q2 crypto revenue hit $160M, up 98% year over year.

These moves signal a regulatory pivot toward integration, potentially unlocking trillions in TradFi capital while apps evolve into "everything" platforms.

Today's newsletter is also powered by Pacaso.

They’re a private company, but Pacaso just reserved the Nasdaq ticker “$PCSO.”

No surprise the same firms that backed Uber, eBay, and Venmo already invested in Pacaso. What is unique is Pacaso is giving the same opportunity to everyday investors. And 10,000+ people have already joined them.

Created a former Zillow exec who sold his first venture for $120M, Pacaso brings co-ownership to the $1.3T vacation home industry.

They’ve generated $1B+ worth of luxury home transactions across 2,000+ owners. That’s good for more than $110M in gross profit since inception, including 41% YoY growth last year alone.

And you can join them today for just $2.90/share. But don’t wait too long. Invest in Pacaso before the opportunity ends September 18.

Invest While You Still Can

_{Paid advertisement for Pacaso’s Regulation A offering. Read the offering circular at invest.pacaso.com. Reserving a ticker symbol is not a guarantee that the company will go public. Listing on the NASDAQ is subject to approvals.}

That's all for today. Let's talk tomorrow.