Bitcoin fails to hold $70,000 level
Bitcoin dropped back below $70,000 today, down roughly 4% from Wednesday's near-$74,000 peak, as geopolitical risk pressures the market. Options data shows traders have concentrated downside protection bets at $60,000, signaling skepticism about the recent rebound. Analysts describe the move as a "relief rally" amid deeply bearish macro indicators, with $71,000 acting as key resistance for any sustained recovery.
Robinhood's Pre-IPO Fund Stumbles at Debut
Robinhood Ventures Fund I (RVI), which gives retail investors stakes in pre-IPO companies like Databricks and Ramp opened on the NYSE today at $22, 12% below its $25 issue price.
The fund currently holds "Frontier Companies" across AI, fintech, and aerospace, with no single position exceeding 20% of assets. Robinhood also said it expects to close a $14.6 million Stripe investment within days. Management dismissed AI bubble concerns, positioning its holdings as "disruptors, not the disrupted." Read more →
First spot Polkadot ETF launches
21Shares rolled out the first U.S. spot Polkadot ETF (TDOT) on NASDAQ, seeded with $11 million at a 0.3% fee. The move extends the firm's altcoin ETF lineup that already includes an XRP fund with $174 million in assets. Read more →
As a refresher, Polkadot is often described as an alternative to Ethereum. Like Ethereum, developers can build apps and smart contracts on it. But Polkadot’s core pitch is connecting multiple blockchains so they can run in parallel and communicate with each other. It’s still tiny vs Ethereum by scale – ~$2.5 billion DOT market cap vs ~ $239 billion for ETH.
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