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Bitcoin spot ETFs witnessed net outflows of over $635 million, led by BlackRock’s IBIT and Ark Invest’s ARKB
DOGE surged 25% in a month, outperforming major cryptocurrencies, while Cardano whale wallets crossed 25 billion ADA holdings
Fidelity tokenized its $7 billion liquidity fund through Chainlink and Sygnum
The crypto market saw major developments as Bitcoin ETFs saw outflows, while Dogecoin surged 25% over the past month. At the same time, Cardano whale wallets hit an all-time high for accumulation, even as institutional take-up and tokenized finance activity kept growing.
According to SoSoValue, the Bitcoin spot ETF saw a total net outflow of $635.23 million yesterday. The Bitcoin Spot ETF with the highest net outflow yesterday was BlackRock's ETF IBIT, with a daily outflow of $284.69 million.
The second highest was Ark Invest and 21Shares’ ARKB ETF, with a daily net outflow of $177.10 million.
The total net asset value of Bitcoin Spot ETFs is $105.01 billion, with an ETF net asset ratio of 6.58%. The historical cumulative net inflow has reached $8.50 billion.
A judge in New York has delayed the decision on Aave’s emergency bid to unfreeze $71 million worth of crypto tied to victims of the $293 million Kelp DAO hack.
Aave has sought to use $71 million in ETH frozen on Arbitrum to assist recovery efforts following the Kelp DAO hack.
However, US law firm Gerstein Harrow LLP filed a restraining notice at the start of May, arguing its clients have a claim to the funds.
According to documents filed Wednesday in the Southern District of New York, Judge Margaret M. Garnett said Aave had not adequately outlined how “compounding losses” on user funds could “occur if the restraining notice remains in place” in its filing earlier this month.
Dogecoin (DOGE) surged 25% over the past month, trading around $0.1133 at press time. This performance has outpaced Bitcoin and Ethereum during the same period.
The market capitalization of the token exceeds $19 billion with a circulating supply of around 170 billion tokens. For investors, this rally highlights DOGE’s sensitivity to meme coin sector rotation.
Despite the upside, analyst Ali Martinez highlighted a TD Sequential '9' sell signal on the 3-day chart after DOGE approached $0.109. This indicator often precedes trend exhaustion or corrections.
The Relative Strength Index (RSI) for DOGE also shows neutral to overbought conditions, pointing to potential consolidation between support at $0.104 and resistance near $0.118.
Also Read: Can Dogecoin Reach $0.20? AlphaPepe Low-Cap Rotation Case Gains Momentum
According to data from Santiment, wallets holding at least 1 million ADA now collectively hold 25.09 billion tokens, an all-time high.
This represents 67.47% of ADA’s current circulating supply, the highest concentration among this wallet tier since July 2020.
The accumulation trend has been building since December 2023, meaning large holders have been consistently adding to their positions during which ADA’s market cap fell 71%.
Crypto analyst Ali Martinez has been tracking Cardano’s SuperTrend indicator since September 25, 2025, when it issued a sell signal that preceded a 73% price decline. The indicator has now flipped to a buy signal on the daily chart, which Ali Charts interprets as the exhaustion phase ending and a trend reversal beginning.
Fidelity International has launched its first tokenized fund onto blockchain rails through Chainlink and Sygnum.
The new Fidelity USD Digital Liquidity Fund, known as FILQ, gives eligible institutions access to a yield-bearing dollar fund built for digital asset markets that run around the clock.
Moody’s Ratings assigned FILQ a top-tier Aaa-mf rating on Wednesday. The rating places the fund among the highest-rated money market products in its category.
FILQ follows the same investment strategy as Fidelity International’s existing Irish-domiciled low-volatility net asset value fund, which holds nearly $7 billion in assets under management.
Also Read: Bitcoin Price Slips Below $80K Despite Inflation Pressure and Market Volatility
BitGo reported a first-quarter net loss. Revenue for the quarter ended March 31 was $3.8 billion, up from $1.8 billion a year earlier, driven by higher digital asset trading activity and growing contributions from its stablecoin business.
Revenue fell 38.7% from Q4 2025’s $6.2 billion, partly due to a shift in client trading from spot to derivatives, a product BitGo launched at the start of the quarter that generated roughly $3 billion in notional volume.
However, net loss widened to $60.7 million from $25.7 million in Q1 2025, hit by a $53.7 million non-cash loss tied to the declining value of the company’s Bitcoin treasury.
Adjusted EBITDA declined to $1.7 million from $3.9 million a year ago.
Bitcoin ETFs recorded over $635 million in outflows mainly due to profit booking and cautious institutional positioning amid broader crypto market volatility. BlackRock’s IBIT alone accounted for nearly $285 million in withdrawals.
Dogecoin gained around 25% over the last month due to renewed meme coin momentum and increased retail participation. However, analysts warn that technical indicators now suggest possible short-term consolidation.
Large ADA wallets now control over 67% of Cardano’s circulating supply, according to Santiment. Such accumulation is often viewed as a sign of long-term confidence from institutional or high-net-worth investors.
FILQ is Fidelity International’s blockchain-based tokenized liquidity fund launched through Chainlink and Sygnum. The fund provides institutional investors with 24/7 access to yield-bearing digital asset infrastructure.
BitGo’s net loss widened mainly because of a $53.7 million non-cash loss linked to its Bitcoin treasury holdings. Despite rising revenues from trading and stablecoins, profitability weakened amid market volatility.
