Good morning, Asia. Here’s what’s making the news in the markets:

Welcome to the Asia Morning Briefing, a daily summary of the top stories during US hours and an overview of market moves and analysis. For a detailed overview of US markets, see CoinDesk’s Crypto Diary America.

Bitcoin ETFs ended a two-week redemption streak by the end of the day on Tuesday, with early data showing a posting of $299.8 million as investors flocked back into crypto-linked products.

Data from Susovalu ShowsFidelity’s FBTC brought in $165.9 million, while Ark21 Shares (ARKB) added $102.5 million, and GraceScale’s BTC saw $24.1 million which was not yet reported at the time of publication.

The shift is in marked contrast to last week’s data from CoinShares, which recorded $1.17 billion in spending from digital asset investment products.

Bitcoin-listed products in the US saw 3 932 million redemptions, while ether equivalents lost 8 438 million. In comparison, European markets attracted capital, with inflows of €41 million in Germany and €50 million in Switzerland, suggesting long-term positioning outside the US.

Altcoins, however, continue to buck the trend. According to data from Coinshares, Solana brought in another $118 million last week, bringing its nine-week total to $2.1 billion, while HBAR and HyperLiscade posted small but steady gains.

This pattern points to investors distinguishing between underlying assets under macro pressures and emerging networks that are still watching China’s momentum.

Kraken’s Global Economist Thomas Profumo said that despite near-term volatility, bitcoin’s fundamentals remain intact.

“In about seven days, Bitcoin’s circulating supply will surpass 19.95 million coins, its maximum supply of 21 million coins,” he wrote in a note to CoinDesk. The milestone highlights bitcoin’s programmable scarcity and its long-term role as a “reliably neutral, globally accessible store of trust.”

While the short-term price action reflects expectations of US liquidity, Profumo added that bitcoin’s tight money design and growing adoption add to the long-term value.

Institutional investors seem to reflect this view: buying DIP through ETFs, trimming exposure to high-beta assets, and increasingly viewed as a structural portfolio asset rather than a speculative trade.

Market movements

BTC: Bitcoin rose 1.4 percent to close at 3,103,000, recovering some of last week’s losses as ETF arrivals and easing macro fears dampened sentiment.

ETH: Ethereum rose 2.1 percent to $3,424, outperforming bitcoin as traders flocked to majors following a two-week fund outflow.

Gold: Near gold, $4,134.6, near a record high, eg Economist James Thorne warned The U.S. has crossed a fiscal “Rubicon” that could reset the gold recovery to “Bretton Woods 2.0” debt management, while Barrick Mining’s $1.3 billion quarterly profit and profit increase underscored how rising bullion prices are changing the global financial landscape.

Elsewhere in Crypto

• Ex-BlackRock Executive (CoinDesk) Says Wall Street Has ‘Infrastructure’
• Taurus, Stellar tapped for tokenized clean energy financing pilot in Spain (BlockJeez