CreatorBid 價格BID

USDH Bid War Update: Native Markets currently has 70.59% of the total staked amount, increasing their chances of winning to 93%.

Ethena Labs has withdrawn from the bid to issue Hyperliquid’s USDH stablecoin. Founder Guy Young said community concerns — that Ethena is not a Hyperliquid-native team, has other product lines, and does not limit its ambitions to a single partner exchange — were valid, so the

⚡️LATEST: Polymarket users predict a 93% chance Native Markets will win Hyperliquid’s USDH stablecoin bid.

Native Markets heavily favored on Polymarket to win bid to issue Hyperliquid's USDH stablecoin

ETF flows remain the clearest signal of institutional crypto demand. On Sept 10, the data showed a sharp divergence from the prior week’s softness: ➢ Bitcoin spot ETFs attracted $757M net inflows, led by FBTC (+$299M) and IBIT (+$211M). ➢ Ethereum spot ETFs turned positive with $171.5M inflows, snapping a multi-day outflow streak. ETF wrappers are now the marginal buyers of $BTC and $ETH. Yesterday’s prints show that Bitcoin is pulling in institutional-scale capital, while Ethereum is still viewed tactically, but not abandoned. ● Market Data Bitcoin Spot ETFs - Net Inflow (Sep 10): +$757M - Leaders: FBTC: +$299M IBIT: +$211M - Trend: Bitcoin ETFs continue to function as the baseline institutional bid. Even after weeks of chop, large inflows confirm that allocators use $BTC as the entry point into the asset class. Ethereum Spot ETFs - Net Inflow (Sep 10): +$171.5M - Trend: First sizeable positive day after six consecutive days of outflows ($500M+ lost in that stretch). Signal: Allocators are testing re-entry into $ETH, but demand is fragile compared to $BTC. ● Core Analysis $BTC flows are structural. - IBIT and FBTC act as institutional liquidity sinks. - These funds are now dampening volatility: even when spot BTC sells off, ETF inflows provide a baseline bid. $ETH flows are tactical. - Yesterday’s $171M reversal proves $ETH is still investable. - But unlike $BTC, flows aren’t sticky, they oscillate with ETH/BTC spread trades and macro rates. - ETH remains the “second choice” allocation unless narrative catalysts (restaking, staking yield vs Treasuries) reignite conviction. ● The Watchlist for September/October ➢ Macro policy path: A September/October Fed cut could redirect flows into higher-beta ETH risk. ➢ Relative strength: If ETH ETFs can string together multiple weeks of inflows, it would reset the ETH/BTC ratio narrative. ➢ Product evolution: Staking-enabled $ETH wrappers (yield + ETF) would be a game-changer. ● Big Picture ETF wrappers are crypto’s institutional distribution rail. ➢ For Bitcoin: Demand is persistent, heavy, and structural. It is the default wrapper for institutional allocators. ➢ For Ethereum: Inflows show $ETH isn’t abandoned, but conviction is weaker. Until $ETH demonstrates consistent ETF appetite, it will trade as a tactical allocation alongside cash-flow tokens, not a structural anchor. ✍️ My Take Don’t over-read single green prints. The story isn’t that “$ETH got $171M in inflows yesterday.” The story is whether $ETH can sustain inflows over multiple weeks the way $BTC consistently does.