Bitcoin ETFs Soar to New Heights as Russia Enacts Comprehensive Crypto Law

The Bitcoin spot ETF saw a total net inflow of $244.42 million yesterday, with BlackRock's IBIT accounting for the largest share at $196.83 million.

Russia has introduced its first full-fledged crypto law, which will govern crypto exchanges, custodians, mining companies, and digital asset issuance starting September 1.

The law sets out licensing rules for crypto exchange operators, who must register with a self-regulatory organization and hold minimum capital of 15 million rubles (approximately $187,000).