Spot Bitcoin exchange-traded funds (ETFs) have seen over $20 billion in total inflows so far this year, led by BlackRock’s iShares Bitcoin Trust (IBIT), which saw $22.4 billion inflows. These funds reached the $20 billion mark after seeing more than $1.5 billion in inflows over the past week.

Cryptocurrency exchange Kraken introduced Kraken Wrapped Bitcoin (kBTC), a new ERC-20 token aimed at increasing Bitcoin’s utility across decentralized applications (dApps) on networks such as Ethereum and OP Mainnet.

Donald Trump’s crypto venture, World Liberty Financial (WLF), published a 13-page document on Thursday outlining its mission and how $WLFI tokens will be allocated, including significant financial benefits for the Trump family. The document reveals that Trump and his family could receive up to 75% of the project’s net revenue.  

Top stories in the Crypto Roundup today:

• Spot Bitcoin ETFs Surpass $20 Billion Inflows
• Kraken Launches Wrapped Bitcoin Token kBTC on Ethereum and OP Mainnet 
• Trump Family Set to Take 75% of Revenue from World Liberty Financial

Spot Bitcoin ETFs Surpass $20 Billion Inflows

Spot Bitcoin exchange-traded funds (ETFs) have seen over $20 billion in total inflows so far this year, led by BlackRock’s iShares Bitcoin Trust (IBIT), which saw $22.4 billion inflows. These funds reached the $20 billion mark after seeing more than $1.5 billion in inflows over the past week.

IBIT was followed by Fidelity’s FBTC, which saw $10.2 billion inflows year-to-date, and the ARK 21Shares Bitcoin ETF, which saw $2.6 billion inflows, according to data shared by Bloomberg’s senior ETF analyst Eric Balchunas.

In total, these funds have seen their assets under management top the $65 billion mark, according to Balchunas, after seeing their inflows top $20 billion in less than a year, a figure that he says gold ETFs needed five years to reach.

The only spot Bitcoin ETFs seeing outflows year-to-date are the Hashdex Bitcoin ETF (DEFI) with $1.79 million outflows and Grayscale’s GBTC with $20.1 billion in outflows.

Kraken Launches Wrapped Bitcoin Token kBTC on Ethereum and OP Mainnet

Cryptocurrency exchange Kraken introduced Kraken Wrapped Bitcoin (kBTC), a new ERC-20 token aimed at increasing Bitcoin’s utility across decentralized applications (dApps) on networks such as Ethereum and OP Mainnet.

Each kBTC token is backed 1:1 by Bitcoin and held in custody at Kraken, allowing users to engage with Bitcoin’s value within the decentralized finance (DeFi) ecosystem while retaining transparency through on-chain verification of reserves.

Kraken positions kBTC as a solution to bring Bitcoin's store of value and security features into broader blockchain ecosystems, particularly those operating on Ethereum and beyond. Each kBTC token is securely held at Kraken Financial, a Wyoming-chartered Special Purpose Depository Institution (SPDI). The kBTC smart contract has undergone an audit by the security firm Trail of Bits.

Kraken notes that kBTC offers interoperability, allowing Bitcoin to be used across different networks. The token is designed to initially integrate with Ethereum and OP Mainnet, with plans for further expansion to non-EVM chains in the future.

Kraken says this increased flexibility makes kBTC a valuable tool for developers seeking to build dApps using Bitcoin or for investors looking to access Bitcoin in on-chain environments. The exchange allows users to independently verify that each kBTC token is fully backed by Bitcoin by inspecting Kraken’s on-chain reserves.

Kraken's launch of kBTC also includes partnerships with several platforms from Day 1, including deBridge, Definitive, Gauntlet, ParaSwap, and Yearn, which will incorporate kBTC into their services. These partnerships are expected to help expand kBTC’s reach and utility across DeFi ecosystems.

Trump Family Set to Take 75% of Revenue from World Liberty Financial

Donald Trump’s crypto venture, World Liberty Financial (WLF), published a 13-page document on Thursday outlining its mission and how $WLFI tokens will be allocated, including significant financial benefits for the Trump family.

The document reveals that Trump and his family could receive up to 75% of the project’s net revenue. The tokens were launched this week with a value of 1.5 cents per token, placing the Trump family’s share at 22.5 billion tokens, worth around $337.5 million.

The Trump family has spent months promoting this crypto project. Previously referred to as "The DeFiant Ones"—a nod to decentralized finance (DeFi)—the project officially launched the WLF token on Tuesday. WLF aims to raise $300 million at a $1.5 billion valuation in its initial sale, but by Thursday, only $12.9 million had been raised.

The document also specifies that Trump and his family hold no formal roles in WLF and have no legal liability. The tokens and the project are described as non-political, with no affiliation to any campaign.

The entity behind WLF, DT Marks DEFI LLC, a Delaware-based company tied to Trump, is set to receive three-quarters of net protocol revenues. These revenues include platform fees, token sales, and advertising income, among other sources.

WLF positions itself as a crypto bank, encouraging users to borrow, lend, and invest in digital coins. Approximately $30 million from the initial revenue will be reserved for operating expenses.

The remaining 25% of net revenue will go to Axiom Management Group (AMG), a Puerto Rico-based company owned by co-founders Chase Herro and Zachary Folkman.

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