Overview:

• Bitcoin spot ETFs recorded $228.88 million in net outflows, led by BlackRock’s IBIT with $177.94 million in daily withdrawals

• OKX Ventures will invest 80 billion won, or $53 million, for a 19.6% stake in South Korean exchange Coinone

• Stellar jumped over 50% in seven days after DTCC and the Stellar Development Foundation announced plans to enable tokenized DTC-custodied assets

The crypto market witnessed major developments as Bitcoin spot ETFs saw $228.88 million in net outflows. Meanwhile, Strategy moved $30.3 million of BTC to Coinbase Prime, and OKX Ventures grabbed a 19.6% stake in Coinone. Stellar also jumped 50% after DTCC’s tokenization plans. 

Bitcoin Outflows Cross $228 million 

According to SoSoValue, the Bitcoin spot ETF saw a total net outflow of $228.88 million yesterday. The Bitcoin Spot ETF with the highest net outflow yesterday was BlackRock's ETF IBIT, with a daily net outflow of $177.94 million. 

The second highest was Grayscale's ETF GBTC, with a daily net outflow of $26.19 million, and the total historical net outflow of GBTC currently stands at $26.62 billion. The total net asset value of Bitcoin Spot ETFs is $94.25 billion, with an ETF net asset ratio of 6.39%. The historical cumulative net inflow has reached $55.79 billion.

Strategy Moves $30 million in Bitcoin to Coinbase

According to Lookonchain, Strategy, known for its aggressive Bitcoin accumulation, moved 411.48 BTC worth approximately $30.3 million to Coinbase Prime. The transaction took place on May 29, and appears to be the company’s first direct transfer of Bitcoin to an exchange in nearly two years.

Data from Arkham Intelligence revealed that the transfer was split into two separate transactions of 205.3 BTC and 206.2 BTC before arriving at Coinbase Prime. Arkham also identified a smaller test transaction of 0.0241 BTC, valued at around $1,770, a common practice before moving large amounts of cryptocurrency.

OKX Acquires 20% in South Korea’s Coinone 

OKX Ventures, the investment arm of crypto exchange OKX, will invest 80 billion won ($53 million) for a 19.6% stake in South Korean cryptocurrency exchange Coinone, the companies announced Friday. 

Korea Investment & Securities (KIS), one of South Korea's largest brokerages, will make an identical investment also for a 19.6% stake upon completion of the transaction, which remains subject to regulatory approval. Following the investment, Coinone CEO Cha Myunghun is expected to remain the exchange's largest shareholder with a 27.8% stake and retain management control.

Also Read: Bitcoin Price Falls Below $74,000 After Massive ETF Outflows

Stellar (XLM) Jumps 50%

XLM is up more than 50% in the last seven days. Stellar price was up 30.60% in the last 24 hours to $0.2191 at the time of writing, the largest daily increase among the top 100 cryptocurrencies by market capitalization. The surge came after Wall Street clearing giant DTCC expands on the Stellar network.

DTCC and the Stellar Development Foundation announced plans this week to enable the tokenization of DTC-custodied assets on the Stellar network. 

DTC-tokenized assets are expected to become available on the Stellar network in the first half of 2027. The move remains significant as DTCC, which sits at the center of US market infrastructure, oversees over $114 trillion in assets. 

Aave Labs Secures Licenses for Crypto Payments Infrastructure 

Aave Labs' UK subsidiaries have received approval from the Financial Conduct Authority to register as cryptoasset exchange providers, allowing one of the largest decentralized finance operators to do business legally in the United Kingdom. 

The two subsidiaries, Push Labs Ltd. and Push Virtual Assets Ltd., together operating as Push, are now registered under UK anti-money laundering rules and hold an existing FCA authorization under the Electronic Money Regulations 2011 to issue electronic money.

The approvals give Aave Labs the regulatory footing to offer full-stack fiat-to-crypto infrastructure in the UK. "Our FCA EMI authorization and cryptoasset registrations provide the regulatory foundation to deliver next-generation, zero-fee onchain consumer financial products in the UK," Aave Labs founder and CEO Stani Kulechov said in a statement. 

Mastercard Partners with Chainlink

According to PANews, on May 29, payment giant Mastercard has partnered with decentralized oracle protocol Chainlink to build a direct fiat-to-cryptocurrency gateway for its global users. The partnership allows Mastercard cardholders to bypass centralized exchanges and acquire digital assets directly in on-chain smart contracts. 

Shift4 Payments handles the initial card transaction layer. Zero Hash is responsible for compliance tracking, custody routing, and instant fiat-to-crypto settlement. The final funds are then pushed to a public distributed ledger through Chainlink's infrastructure. They are connected to the Swapper Finance platform, which uses XSwap to obtain liquidity from decentralized exchanges such as Uniswap.

Also Read: Ethereum Whale Makes $13M Bet on ETH After $33M Loss: Reason Explained

FAQs:

1. Why did Bitcoin spot ETFs see outflows?

Bitcoin spot ETFs saw $228.88 million in net outflows as investors pulled capital from major funds. BlackRock’s IBIT led the withdrawals with $177.94 million in daily outflows.

2. Why did Strategy move Bitcoin to Coinbase Prime?

According to Lookonchain, Strategy moved 411.48 BTC worth around $30.3 million to Coinbase Prime. The transfer appears to be its first direct BTC move to an exchange in nearly two years.

3. What stake is OKX acquiring in Coinone?

OKX Ventures will invest 80 billion won, or about $53 million, for a 19.6% stake in Coinone. Korea Investment & Securities will also make an identical investment for the same stake.

4. Why did Stellar price jump sharply?

Stellar rallied after DTCC announced plans with the Stellar Development Foundation to tokenize DTC-custodied assets on the network. XLM rose over 50% in seven days and gained 30.60% in 24 hours.

5. What is Mastercard’s partnership with Chainlink about?

According to PANews, Mastercard partnered with Chainlink to build a direct fiat-to-crypto gateway. The move will allow cardholders to buy digital assets directly through on-chain smart contracts.