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Bitcoin spot ETFs recorded $27.29 million in daily inflows, pushing cumulative historical inflows to $59.37 billion
Solana’s Alpenglow upgrade entered validator testing with targets of 100-150 millisecond confirmations, potentially reshaping its position among high-speed Layer-1 blockchains
The US Senate released a 309-page crypto market structure draft
The cryptocurrency market experienced notable developments as Bitcoin ETFs saw inflows, Solana’s Alpenglow upgrade is in testing, and XRP ETFs recorded the highest inflows since January. PENGU regained the critical $0.010 mark as whale investors purchased the coin while Bhutan continued to sell its Bitcoin assets.
According to SoSoValue, the Bitcoin spot ETF saw a total net inflow of $27.29 million yesterday. The Bitcoin Spot ETF with the highest net inflow yesterday was Morgan Stanley's ETF MSBT, with a daily net inflow of $26.30 million.
The second highest was Invesco and Galaxy Digital's ETF BTCO, with a daily net inflow of $7.34 million.
The Bitcoin Spot ETF with the highest net outflow yesterday was BlackRock's ETF IBIT, with a daily net outflow of $7.43 million.
The total net asset value of Bitcoin Spot ETFs is $109.08 billion, with an ETF net asset ratio of 6.66%. The historical cumulative net inflow has reached $59.37 billion.
Solana’s Alpenglow upgrade entered community validator testing on May 11, with development firm Anza describing the activation as the largest consensus change in the network’s history, targeting block confirmation times of around 150 milliseconds and potentially as low as 100 milliseconds under favorable network conditions.
The upgrade replaces TowerBFT and removes Proof of History from the network’s core process, a structural change significant enough that its success or failure will materially define Solana’s competitive position among high-throughput Layer-1 networks through the remainder of 2026.
SOL traded near $97 following the announcement, with an intraday range between $94 and $98, suggesting a limited short-term market reaction to a development that remains well upstream of mainnet.
The US Senate Banking Committee released a 309-page draft of the Digital Asset Market CLARITY Act on 11 May 2026.
The draft arrived ahead of a scheduled committee markup session. A markup session is a formal meeting where legislators review and amend a bill before a full Senate vote.
The bill is not yet law. It still requires 60 Senate votes to advance and full congressional passage.
Four regulators split authority over crypto markets. The draft assigns oversight of digital assets across four bodies.
Also Read: Bitcoin Price Stays Strong Above $80K Despite Market Volatility
On May 11, the US spot XRP exchange-traded funds (ETFs) recorded the largest daily inflow since January 5, 2026.
The US spot XRP ETFs registered a net inflow of approximately $25.80 million on Monday, according to data from SoSoValue. As such, these funds cumulatively hold tokens valued at about $1.18 billion.
The highest single-day inflow in 2026 was $46.10 million, posted on January 5. Since the start of May, these ETFs have not logged any negative days, thereby signaling a potential renewal of institutional demand.
Franklin XRP ETF (XRPZ) was the best performer, as it attracted $13.62 million in net inflows on Monday.
The Royal Government of Bhutan transferred approximately 100.44 BTC ($8.2 million) to an unlabeled address on Tuesday, continuing its outflow streak.
Bhutan transferred the funds to an address starting ‘bc1qn’ UTC in three transactions, according to Arkham.
Arkham said the transfers appeared to be for selling, adding to outflows from Bhutan labeled addresses of over $230 million since the start of the year, or around $50 million worth of bitcoin per month.
According to Arkham, Bhutan still holds around 3,119 BTC, valued at around $252.3 million down from a peak of approximately 13,000 BTC in October 2024.
The PENGU token, linked to the Pudgy Penguins ecosystem, reclaimed the psychological level of $0.010 following an aggressive accumulation by whales.
Whale behavior captured market attention after structured movements were identified in one of the ecosystem’s top 100 wallets.
According to a Nansen report, this specific investor, who maintains a 100% success rate in their last 35 trades, expanded their position in PENGU through purchases of nearly $450,000.
The total accumulation for this address amounts to 52.93 million tokens, executed through platforms such as OKX DEX, Meteora, and Wintermute.
1. Why are Bitcoin ETF inflows important for the crypto market?
Bitcoin ETF inflows reflect institutional investor demand and often reduce available BTC supply in the open market. Sustained inflows are generally viewed as a bullish indicator for long-term market sentiment.
2. What is Solana’s Alpenglow upgrade?
Alpenglow is Solana’s latest consensus upgrade that replaces TowerBFT and removes Proof of History from its core consensus mechanism. The upgrade aims to significantly improve transaction confirmation speeds.
3. Why did XRP ETFs witness strong inflows recently?
XRP ETFs saw rising institutional demand after several consecutive positive trading sessions. Investors are also watching for potential regulatory clarity around XRP and digital assets in the US.
4. Why is the PENGU token gaining attention?
PENGU rallied after whale investors accumulated large amounts of the token. According to Nansen data, a high-performing wallet purchased nearly $450,000 worth of PENGU, helping it reclaim the $0.010 level.
5. Why is Bhutan selling Bitcoin holdings?
Bhutan has been gradually reducing its BTC reserves, likely for treasury management and liquidity purposes. Despite recent transfers worth over $230 million this year, the country still holds more than 3,100 BTC.
