Bitcoin spot ETFs recorded $70.47 million in net outflows, with BlackRock’s IBIT alone recording over $61 million in outflows
Tether expanded its stablecoin dominance through more than $5 billion in fresh USDT issuance
Ethereum’s RWA dominance declined from 93.4% to 61.1% amid growing multi-chain competition
Crypto markets saw mixed momentum today as Bitcoin ETF recorded an outflow of $70 million, while Tether boosted its stablecoin edge, issuing over $5 billion in USDT. Meanwhile, SpaceX revealed a $1.45 billion Bitcoin treasury, and Hyperliquid ETFs witnessed volumes jump.
According to SoSoValue, the Bitcoin spot ETF saw a total net outflow of $70.47 million yesterday. The Bitcoin Spot ETF with the highest net inflow yesterday was Morgan Stanley's ETF MSBT, with a daily net inflow of $1.11 million.
The Bitcoin Spot ETF with the highest net outflow yesterday was BlackRock's ETF IBIT, with a daily net outflow of $61.45 million.
The total net asset value of Bitcoin Spot ETFs is $101.12 billion, with an ETF net asset ratio of 6.49%. The historical cumulative net inflow has reached $57.29 billion.
SpaceX has revealed it holds 18,712 BTC worth around $1.45 billion, far more than blockchain trackers previously estimated.
The disclosure appeared in the company’s SEC registration statement filed ahead of its planned public listing.
According to the filing, SpaceX acquired BTC at a total cost basis of approximately $661 million. The company maintains the holdings through third-party custodians, which explains why on-chain analysts had previously attributed only around 8,000 BTC.
The filing also shows the balance remained unchanged from the end of 2024, indicating that SpaceX neither added to nor reduced its Bitcoin exposure during the latest market cycle.
Market data indicates that Tether’s dominance strengthened structurally, caused by the increase in the issuance of its native token, USDT.
According to reports from analysis firms, during the last month, the net growth for the entire sector was just $900 million, which translates to a percentage increase of 0.3%.
During the same monthly period, USDT investment tools accumulated more than $5 billion in new issuances.
In contrast, competing assets USD Coin (USDC), PayPal’s PYUSD, and the synthetic dollar USDe combined contracted $4.2 billion. The majority of this capital migrated directly into Tether’s reserves, raising its market share to levels near 60%.
Also Read: Bitcoin Price Near $78K as ETF Outflows Shake Cryptocurrency Market
Syndicate Labs is shutting down after five years of operations, becoming the most prominent casualty yet of the Ethereum Layer 2 consolidation wave.
The company posted its closing announcement on X on May 21, stating plainly that the 'rollup market has fundamentally shifted', and the data backs that conclusion without any hedging required.
Arbitrum One, Base, and OP Mainnet now control roughly 75% of the layer-2 market. Total value secured across the rollup ecosystem has dropped 36% from its October peak of more than $50 billion.
Ethereum’s active RWA market share has fallen from 93.4% at the start of 2025 to 61.1% by the end of Q1 2026, but it does not imply that Ethereum is losing relevance.
Despite the decline, Ethereum remains the largest chain by RWA market cap, with about $18.7 billion.
While its RWA market share is becoming less concentrated, the Ethereum Foundation is also trying to make the network less dependent on itself.
Ethereum should be able to keep running, upgrading, and defending itself even if the Foundation becomes much less important over time.
HYPE ETFs recorded a 50% trading volume jump on Wednesday, a rare move for newly debuted ETFs, according to analysts.
Two Hyperliquid ETFs from issuers Bitwise and 21Shares have recorded nearly $41 million in total value traded since their launch.
Bloomberg ETF analyst Eric Balchunas said in an X post Wednesday that such trading increases for ETFs are ‘very rare,’ and many normally record a 'big splash [on] day one then drop off OR oblivion for months until people notice it. Rare to build in the first week like this.'
Balchunas pinned the ETFs’ growth on a ‘perfectly timed launch as EVERYTHING (stocks, bonds, gold, BTC, cryptos) is down lately except the HYPE.’
Also Read: Is Ethereum Price Bounce Fragile as Another Sell-Off Looms?
1. Why did Bitcoin ETFs witness outflows despite strong cumulative inflows?
Bitcoin ETFs saw short-term outflows mainly amid cautious market sentiment, profit booking, and broader weakness across global risk assets. However, cumulative inflows still remain above $57 billion, showing long-term institutional interest remains intact.
2. Why is SpaceX’s Bitcoin disclosure significant for the crypto market?
SpaceX revealing 18,712 BTC worth around $1.45 billion highlights growing corporate adoption of Bitcoin among major global firms. The filing also showed the company held its BTC through the recent market cycle without reducing exposure.
3. How did Tether increase its dominance in the stablecoin market?
USDT gained over $5 billion in fresh issuance while competitors like USDC, PYUSD, and USDe collectively declined by $4.2 billion. This pushed Tether’s market dominance closer to 60% of the stablecoin sector.
4. Why are Hyperliquid ETFs attracting attention from analysts?
HYPE ETFs recorded a rare 50% increase in trading activity shortly after launch, reaching nearly $41 million in traded value. Analysts noted that such sustained ETF growth is uncommon during periods when most asset classes are declining.
5. Is Ethereum losing importance after its RWA market share decline?
Ethereum’s RWA market share dropped from 93.4% to 61.1%, but it remains the largest blockchain for tokenized real-world assets with a nearly $18.7 billion market value. The decline mainly reflects rising competition from other blockchain ecosystems.