Crypto-focused fund product BRR has bought back roughly 10% of its outstanding float, according to a post by APompliano on X cited by Techub News. The update points to an ongoing repurchase program rather than a one-off transaction. BRR has traded at a persistent discount to net asset value, or NAV, and the buybacks are being used in an effort to narrow that gap. The report also identifies Anthony Pompliano as a well-known crypto investor and co-founder of Morgan Creek Digital. Based on the disclosed information, his team is pursuing the repurchase plan with the stated aim of reducing the discount between BRR’s market price and its NAV.

Hashdex has announced the closure and liquidation of its Hashdex Bitcoin ETF, ticker DEFI, making it the first U.S. spot Bitcoin ETF to formally wind down. As of July 30, the fund had about $14.7 million in assets under management and held roughly 225.58 BTC. The final trading day is set for Aug. 17, after which the product will be delisted from NYSE Arca, and cash liquidation distributions to remaining shareholders are expected around Aug. 28. The fund began trading in September 2022 as a Bitcoin futures ETF before converting to a spot strategy in March 2024 after the U.S. Securities and Exchange Commission approved 11 spot Bitcoin ETF applications in January that year. Despite posting cumulative performance of about 166% since inception, DEFI never scaled meaningfully, with assets peaking at roughly $17.54 million. The article also examines the sharply concentrated structure of the U.S. spot Bitcoin ETF market, where the five largest funds account for almost all assets, and explains why management fee income at DEFI’s size was far below the level needed to cover custody, compliance, audit, market-making, listing and administrative costs.

CoinShares has filed for a Bitcoin Volatility ETF under the ticker CBIX, shifting focus from spot exposure to BTC price swings and prompting debate over hedging and short-term trading use cases.

The SEC has approved Nasdaq PHLX to list Bitcoin index options, giving traders direct BTC price exposure without using a spot ETF. The contracts are cash-settled, European-style, capped at 24,000 contracts, and carry a notional value of about $76,000 each.

Rhea Finance said attackers drained at least $7.6 million by manipulating pools tied to its margin trading system. Contracts were paused, Tether froze about $3.29 million in USDT, and a reimbursement plan has not been released.

The U.S. SEC approved Nasdaq's cash-settled Bitcoin index options under ticker QBTC, offering regulated Bitcoin exposure without holding BTC or ETFs. Trading requires additional approvals, including from the CFTC.

U.S. spot crypto ETFs recorded a fifth straight day of net inflows on Monday, led by Bitcoin ETFs with $238 million. Ether ETFs extended their streak to eight days with $67.77 million, while XRP and Solana ETFs also saw modest inflows.

Bitcoin climbed to $78,000, lifting crypto-linked stocks, with digital asset treasury firms posting the strongest gains. Easing fears over the Strait of Hormuz and a sharp oil drop helped drive the move.