Crypto Market Recap: Bitcoin Funds Hit US$7 Billion, Saylor Shrugs Off Quantum Risk

Bitcoin and Ethereum price update

Bitcoin (BTC) was priced at US$108,516.21 as markets closed for the day, up 2.1 percent in 24 hours. The day's range for the cryptocurrency brought a low of US$107,115 and a high of US$108,677.

Rising institutional enthusiasm countered cautious macro sentiment over the weekend, propping up Bitcoin’s value, although some analysts are warning of the possibility of a short-term correction.

A standout factor was Circle's (NYSE:CRCL) June 5 initial public offering. Shares surged 70 percent (US$117.53) following its debut and reinforced growing investor confidence in digital assets infrastructure.

Meanwhile, markets edged higher today as the US and China engaged in trade talks in London.

Ethereum (ETH) ended the day at US$2,581.50, a 1.9 percent increase over the past 24 hours. The cryptocurrency reached an intraday low of US$2,520.27 and saw a daily high of US$2,586.

Altcoin price update

• Solana (SOL) closed at US$155.68, up 0.8 percent over 24 hours. SOL experienced a low of US$153.54 and reached a high of US$156.64 on Monday.

• XRP was trading at US$2.29, up 0.3 percent over the past 24 hours. The cryptocurrency reached a daily low of US$2.25 and a high of US$2.31.

• Sui (SUI) peaked at US$3.38, showing an increase of 3.3 percent over the past 24 hours and its highest valuation of the day. Its lowest valuation on Monday was US$3.30.

• Cardano (ADA) is trading at US$0.6818, up 1.2 percent over the past 24 hours. Its lowest price of the day was US$0.6671, and it reached a high of US$0.6856.

Today's crypto news to know

Crypto funds hit record high in May

Crypto investment funds saw their assets surge to a record US$167 billion in May, driven by a growing appetite for risk and shifting investor strategies amid global market uncertainty.

According to data from Morningstar, nearly US$7.1 billion flowed into 294 tracked crypto funds last month — the largest inflow since December. Analysts say the trend reflects dual motivations: investors hedging against potential US market downturns and diversifying their portfolios beyond equities and gold.

Bitcoin, which is up over 15 percent since the start of the year, has outpaced both the MSCI World Index and gold, reinforcing its appeal as a “new age” store of value. Bitcoin and Ether exchange-traded funds in the US are also driving institutional inflows, while gold and equity funds saw significant outflows last month.

Saylor dismisses quantum threat to Bitcoin

Despite warnings from researchers and even BlackRock that quantum computing could break crypto's encryption, Strategy (NASDAQ:MSTR) Chair Michael Saylor isn't sweating it. Speaking on CNBC, Saylor waved off the existential threat narrative, comparing it to marketing hype from those pushing “quantum tokens.”

He argued that any true quantum threat would be neutralized through a software upgrade to the Bitcoin protocol as major companies continue to patch security holes. Behind the scenes, crypto developers are already drafting proposals to transition Bitcoin to quantum-resistant systems, including potential hard forks.

Tether to open source Bitcoin-mining software

Tether said it will open source its new Bitcoin-mining software, Bitcoin Mining OS (MOS), to bring new miners into the market and “keep the network safe," according to a post from CEO Paolo Ardoino.

“No need anymore of any 3rd party hosted software,” he said. “MOS will create an even playing field reducing the gap between publicly listed companies and smaller players.” Ardoino described a new operating system that will support existing mining infrastructure while enabling developers to create their own plugins.

“I envision future @QVAC_tether integration to build better reports and enhance production / performance based on custom AI tools that learn from the huge datasets generated by the Mining OS,” he noted, adding that companies that produce their own electricity will soon start using excess energy for mining.

According to Cointelegraph, Ardoino said the new software will be available by Q4 2025.

The Blockchain Group plans 300 million euro BTC investment

Through a partnership with TOBAM, French crypto company the Blockchain Group is planning to raise 300 million euros to to fund more Bitcoin purchases, according to a Monday press release.

The deal is structured like an at-the-market offering, and shares will be sold directly into the market at their current trading price. TOBAM will initiate these share subscriptions by submitting requests after market close.

These requests are subject to pre-agreed volume limits, where the number of shares requested may not exceed 21 percent of the trading volume from the preceding day.

Netcapital completes Mixie acquisition

Zelgor, a portfolio company for fintech firm Netcapital (NASDAQ:NCPL), has acquired crypto-native protocol Mixie in a strategic move to bridge traditional and decentralized finance.

Mixie is a blockchain-native platform that builds infrastructure and tools for Web3 gaming, creator media and decentralized community engagement. Zelgor is an interactive entertainment company that primarily develops mobile games. It has secured funding from Guitar Hero co-creator Tim Draper and Napster’s founders, among others.

“We have always strived to utilize cutting-edge technology to develop transformative game experiences and enable others to do the same,” said John Fanning Jr., CEO of Zelgor. “Mixie’s technology stack and media reach align perfectly with our goals and provide immediate capabilities to scale within both Web2 and Web3 landscapes.”

Shares of Netcapital rose by 20 percent as the news broke and ended the day 20.39 percent higher.

Bitcoin enters Kibera, Africa’s largest slum

Through a nonprofit initiative by fintech firm AfriBit Africa, roughly 200 residents in Soweto West now use Bitcoin to pay for goods and services, including vegetables and motorcycle rides.

Most of the crypto circulation stems from a local garbage collection program, where youth are paid in small Bitcoin grants after weekend cleanups. Advocates say the effort provides financial access to the undocumented and unbanked, bypassing high fees from Kenya’s dominant M-PESA mobile system.