Castle Securities: US retail investors are buying on dips at a record pace.
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Foreign investors are pouring into the US stock market at a record pace.
According to Mars Finance, on July 3rd, The Kobeissi Letter reported that foreign investors are pouring into the US stock market at a record pace. The cumulative inflow of global investment funds into US stocks year-to-date has risen to approximately 2.5% of their total assets under management. This proportion has more than doubled since May alone. In comparison, the average outflow for the same period from 2002 to 2025 was 0.3%, making the current level significantly higher than the historical average. If the top 10% of years with the highest inflows and the bottom 10% of years with the highest outflows from 2002 to 2025 are excluded, the average inflow of global funds into US stocks up to the current period is approximately 1.5% of their total assets under management. The rate of inflow into US stocks this year has already exceeded the total inflow for the middle 50% of years since 2002, indicating unprecedented demand for US stocks.
Toyota Finance opens tokenized bonds to retail investors via mobile payment app
Retail investors can apply to buy the 1 billion yen bond without a securities account and receive perks through Toyota’s payment app.
SpaceX's IPO drives record-breaking tokenized stock trading, with on-chain transaction volume reaching $3.86 billion in June.
According to Odaily, driven by the buzz surrounding SpaceX's initial public offering (IPO), the tokenized stock market saw record trading activity in June, with on-chain transaction volume reaching $3.86 billion, a 145% increase from May. Of this, tokenized SpaceX stock accounted for $1.19 billion, representing approximately 31% of the total tokenized stock trading volume in June. Backpack Securities' SPCX token became the most actively traded SpaceX tokenized stock product, with a single-month on-chain transaction volume of $1.08 billion. Data shows that this round of growth was primarily driven by demand for SpaceX-related assets. SpaceX previously completed a record-breaking $75 billion IPO, valuing the company at approximately $1.8 trillion on a fully diluted basis. While traditionally popular assets such as Nvidia, Tesla, the S&P 500 ETF (SPY), and the Nasdaq 100 ETF (QQQ) remained actively traded, none reached the market enthusiasm of SpaceX's tokenized shares. Furthermore, the total market capitalization of tokenized shares rose to $1.53 billion in June, a 6.64% increase from the previous month, marking the 15th consecutive month of growth. (CoinDesk)
EU regulators warn: Some prediction market event contracts are prohibited from being sold to retail investors.
BlockBeats reported on July 5th that the European Securities and Markets Authority (ESMA) issued a statement saying that if "event contracts" in prediction markets meet the definition of financial instruments, they fall under the category of binary options and, according to EU regulations, cannot be marketed, distributed, or sold to retail investors. ESMA stated that the legal status of a product depends on its actual function, not on its commercial name such as "event contract." If the relevant contract meets the MiFID II definition of a financial instrument, it will be considered a derivative and subject to the EU's binary options ban. ESMA also pointed out that even if a platform only offers related products to professional investors, it still needs to obtain MiFID II authorization if it provides related investment services in the EU. Furthermore, event contracts may also be subject to the gambling laws of individual member states; if the product is tokenized and does not fall under the financial instrument category, it may be subject to the Markets in Crypto-Assets Regulation (MiCA) framework.
Tom Lee: The pullback following SpaceX's unlocking presents a good buying opportunity; chasing the price higher in the short term is still not recommended.
According to BlockBeats, in a recent interview on July 3rd, BitMine Chairman Tom Lee stated that he would not set a specific price target for SpaceX because its growth is primarily focused on the future. "Setting a target now is essentially discounting the growth of the next 20 years to the present, which is almost pure speculation." Tom Lee specifically mentioned the upcoming share unlocking, which may create selling pressure from early investors hedging their positions. However, this selling pressure "will actually become a good buying opportunity." Tom Lee believes that chasing SpaceX at high prices in the short term is not advisable; it is appropriate to use the pullback caused by the unlocking to build a position. SpaceX's first major unlocking window is expected after the Q2 earnings report, between the end of July and mid-August. It will allow eligible insiders/early investors to sell up to 20% of their shares; an additional 10% will be unlocked if the share price consistently exceeds the IPO price by 30% (approximately $175 or more). Following this, there will be multiple small unlocks, such as approximately 7% around August 21st and September 10th, and phased releases at 70/90/105/120/135 days; approximately 28% will be released after the Q3 financial report, and finally, the majority of the remaining shares will be fully unlocked after the 180-day lock-up period ends. Shares held by Musk and other core shareholders have a longer lock-up period, approximately 366 days until June 2027. Overall, August and September will be a period of concentrated unlocking pressure for SpaceX.
Bitfinex Securities completes record $50M tokenized capital raise
Bitfinex Securities completed a record $50 million raise for Alkemya, whose token represents interests in a partnership that holds nickel assets.