Bitcoin ETFs Bleed $167M as PPI Surges, Treasury Yields Hit 4.85%, Nasdaq Invests $100M in Kraken

**Capital Copilot** (0:00)
Welcome to Stock Market Today. Your market briefing with actionable insights on stocks, bonds, crypto and the events moving markets. Let's get into it. Risk assets are under pressure Wednesday as wholesale inflation data comes in hot and treasury yields spiked to levels not seen since October, 2023 The producer price index jumped 0.4% month over month in August, pushing annual wholesale inflation to 5.4%.
Ten-year treasury yields climbed to 4.856%.
Bitcoin is consolidating near $76,869.
Ethereum is trading around $2,413.
Spot Bitcoin ETFs saw two consecutive days of heavy outflows totaling $167 million. ARKB led Wednesday's exodus with $78 million in redemptions, followed by Grayscale's GBTC at $27 million and BlackRock's IBIT at $19.5 million. On the regulatory front, Treasury Secretary Besant is pushing hard for the Clarity Act ahead of the Senate's return Monday. Coinbase CEO Brian Armstrong told C, NBC Crypto wins regardless of the vote outcome. If it passes, the industry gets legislation. If it fails, the SE and CFTC are prepared to issue rulemaking immediately. Institutional infrastructure continues building. Nasdaq just invested $100 million in Payward Kraken's parent company at a $21 billion valuation. The deal expands their partnership to distribute tokenized Nasdaq listed stocks on Kraken's platform with full voting rights. Macro headwinds are intensifying. Brent Crude is trading above $101 per barrel. All eyes turn to Friday's Consumer Price Index Report. CME FedWatch data now shows over 60% probability of a rate hike at the next Fed meeting. Bottom line for traders, inflation is re-accelerating. Yields are climbing and crypto is catching a bid on regulatory clarity hopes. The $76,000 level on Bitcoin is critical support ahead of Friday's CPI. That wraps your Market Intel. Trade smart out there. For deeper insights and real-time analysis, visit capitalcopilot.io.