Bitcoin spot ETFs recorded over $100 million in daily outflows, with BlackRock’s IBIT accounting for the majority of withdrawals
NEAR jumped 28% after launching new AI and privacy-focused infrastructure
Hong Kong completed its first regulated HKDAP stablecoin transaction on Ethereum
Crypto markets saw major developments. Bitcoin ETFs saw $100 million in outflows, while NEAR still climbed 28% amid AI and privacy updates. At the same time, Chainlink witnessed a big jump in on-chain activity, and HKDAP completed its first stablecoin transaction on Ethereum.
According to SoSoValue, the Bitcoin spot ETF recorded total net outflows of $100.82 million yesterday. The Bitcoin Spot ETF with the highest net inflow yesterday was Ark Invest and 21Shares's ETF ARKB, with a daily net inflow of $2.83 million.
The Bitcoin Spot ETF with the highest net outflow yesterday was BlackRock's ETF IBIT, with a daily net outflow of $103.65 million.
The total net asset value of Bitcoin Spot ETFs is $101.06 billion, with an ETF net asset ratio of 6.49%. The historical cumulative net inflow has reached $57.19 billion.
Trump Media & Technology Group, a company associated with the Trump family, is now sitting on nearly $480 million in unrealized losses in BTC.
Late on May 21, the company moved 2,650 BTC to the Crypto.com exchange, a position worth roughly $205 million at the time, according to Arkham.
The company had originally acquired 11,542 BTC for approximately $1.37 billion in mid-2025, at an average purchase price of $118,522 per coin.
With Bitcoin now trading at around $77,200, around 35% lower than that level, Trump Media reportedly incurs losses.
Reports indicate that the number of active addresses on the network recorded a substantial increase between May 9 and 10.
The metric rose to more than 280,000 addresses, representing a 93-fold increase compared to the blockchain’s daily historical average, which stands around 3,000 addresses.
The on-chain report examines flows from the Binance platform to contrast the activity spike with the token’s liquid availability.
The data suggests that LINK reserves on this exchange fell steadily over 14 days, dropping from 86.3 million to 85.8 million units.
Also Read: Bitcoin Options Expiry Hits as Crypto Market Weakness Deepens
NEAR Protocol’s token surged 28% to lead altcoin gains, extending its weekly rally to just under 45% as the team rolled out privacy, AI and scalability announcements between May 20 and May 22.
The moves come even as Bitcoin retraced from near $82,000 to $77,000 over the past week.
On Wednesday, Trezu launched Confidential Treasuries, a product offering private on-chain multisig, payroll, balance management and cross-chain payments across more than 35 chains.
The product is powered by NEAR's private sharding and Intents infrastructure. NEAR's official account noted that $68 million moved confidentially out of near.com over the past month.
A petition to block South Korea’s planned 22% cryptocurrency tax has surpassed 50,000 signatures.
The petition now heads to the National Assembly’s Finance and Economic Planning Committee for review. Lodged on May 13, the petition crossed the threshold on May 21. It now holds 53,359 signatures.
South Korea’s 20% crypto tax, which rises to 22% with local surcharges, takes effect January 1, 2027. The law applies to gains exceeding 2.5 million won.
The petitioner argues it’s unfair that South Korea abolished the Financial Investment Income Tax but is still moving forward with taxing crypto gains.
Anchorpoint Financial, OSL Group and PantherTrade have completed the first live end-to-end financial transaction of Hong Kong's first approved stablecoin, HKDAP, on the Ethereum public chain.
This digital asset operates under the supervision of the Hong Kong Monetary Authority. In this blockchain test, participants directly converted traditional physical Hong Kong dollars into reserve assets, triggering the minting of on-chain digital balances and converting the tokens back to fiat currency bank balances through a redemption agreement after the transaction.
Standard Chartered provided custody architecture and trust services for this. The stablecoin is scheduled to begin phased public issuance at the end of the second quarter of this year.
Also Read: Ethereum Options Open Interest Hits $7B: Bulls Dominate as Hedging Continues
1. Why did Bitcoin ETFs witness $100 million in outflows?
Bitcoin ETFs experienced selling pressure as investors booked profits after BTC’s recent rally toward $82,000. BlackRock’s IBIT alone saw over $103 million in net outflows, reflecting cautious institutional sentiment amid market volatility.
2. Why is NEAR Protocol gaining attention in the crypto market?
NEAR surged nearly 28% after multiple announcements related to AI infrastructure, privacy tools and scalability upgrades. Its ecosystem also processed over $68 million in confidential transfers using private sharding technology.
3. What caused Chainlink’s on-chain activity to spike sharply
Chainlink’s active addresses jumped to over 280,000, nearly 93 times higher than its daily average. Analysts linked the rise to increased network usage and declining LINK reserves on exchanges like Binance.
4. Why are South Korean investors opposing the crypto tax?
Many investors believe the planned 22% crypto tax is unfair, especially after the country scrapped its Financial Investment Income Tax. The petition argues the move could discourage digital asset participation and innovation.
5. What is HKDAP stablecoin and why is it important?
HKDAP is Hong Kong’s first approved regulated stablecoin operating on Ethereum. Its successful end-to-end transaction marks a major step toward regulated blockchain-based financial settlements under Hong Kong Monetary Authority supervision.