Bitcoin ETFs See 7 Straight Days of Outflows; BlackRock's IBIT Leads Net Withdrawals

Bitcoin spot exchange-traded funds (ETFs) experienced a net outflow of $334 million on May 26, marking the seventh consecutive trading day of capital withdrawal. BlackRock's IBIT saw a net outflow of $192 million, while Fidelity's FBTC registered $57.7364 million in net outflows. The total net assets of Bitcoin spot ETFs stand at $98.397 billion (approximately 133 trillion won), representing 6.45% of the total Bitcoin market capitalization.

Minneapolis Fed President Neel Kashkari stated that continuous interest rate hikes might be necessary if geopolitical tensions in the Middle East worsen inflation. In a written interview, Kashkari commented, 'The next move could be a cut or a hike.'

The U.S. Navy has resumed escorting vessels transiting the Strait of Hormuz. A very large crude carrier (VLCC) of Greek nationality received guidance and escort from the U.S. Navy while passing through waters near the coast of Oman. The U.S. Navy plans to escort approximately 12 vessels, including VLCCs and container ships, through the Strait of Hormuz in the coming days. The Iranian Islamic Revolutionary Guard Corps Navy reported that 25 merchant ships, including oil tankers and container ships, transited the Strait of Hormuz after obtaining permits in the last 24 hours.

According to OKX price quotes, Bitcoin (BTC) is trading at 75,998.5 USDT, down 2.11% in the last 24 hours. Ethereum was trading at $2,099.97, down 1.27% over the day.

China's Supreme People's Court announced it would research trial standards for new types of cases, including virtual currency and cross-border finance. Liu Guiqiang, former member of the Judicial Committee of China's Supreme People's Court, stated that the court would conduct in-depth research into trial rules for new types of cases such as virtual currency and cross-border finance.

The CLARITY Act, aimed at clarifying the digital asset regulatory framework in the United States, is a market structure bill. Kraken has launched a Bitcoin Vault product that allows Bitcoin holders to earn yield through DeFi protocols like Aave and Morpho.