[News Brief] May 2, morning | U.S. Spot Bitcoin ETFs Record $630 Million in Net Inflows in One Day

U.S. Spot Bitcoin ETFs Record $630 Million in Net Inflows in One Day

U.S. spot Bitcoin ETFs posted total net inflows of $630 million on May 1 (U.S. Eastern Time). BlackRock’s IBIT led with $284 million in inflows, followed by Fidelity’s FBTC with $213 million.

According to Odaily, citing data compiled by SoSoValue, BlackRock IBIT’s cumulative net inflows reached $32.7 billion, while Fidelity FBTC’s cumulative net inflows stood at $11.082 billion.

As of the time of writing, the total net asset value of spot Bitcoin ETFs was $103.785 billion. The ETF net asset ratio accounted for 6.66% of Bitcoin’s total market capitalization, while cumulative net inflows were tallied at $58.718 billion.

U.S. CFTC Chair Says Legalization of Crypto Perpetual Futures in the U.S. Could Come Within Weeks

The chair of the U.S. Commodity Futures Trading Commission (CFTC) said the legalization of crypto perpetual futures (PERPs) in the United States could happen within weeks. Once their regulatory classification is finalized, the products are expected to be officially launched.

According to @WuBlockchain, CFTC Commissioner Michael Selig said in an interview with Anthony Pompliano that genuine crypto perpetual futures could soon become legal in the United States. He explained that the CFTC is currently working through classification issues and believes an official launch could happen within several weeks to a month once appropriate safeguards are in place.

Commissioner Selig said the so-called workaround products currently on the market are based on a structure that has existed for about 50 years, and described the current effort as building an institutional framework to replace them. He added that the move would be a major win for both the industry and the American public.

Perpetual futures are leveraged derivatives contracts with no expiration date. They are a core trading instrument in the global crypto market, but have remained only limitedly available in the U.S. due to regulatory uncertainty.

White House Correspondent Says Bitcoin Industry and Major Banks Reach Compromise on CLARITY Act

A White House correspondent reported that the Bitcoin industry and major banks have officially reached a compromise regarding the CLARITY Act, allowing the market structure bill to move into the markup stage.

Pete Rizzo (@pete_rizzo_) shared the update on X, describing the agreement as a sign of progress in U.S. crypto market structure legislation.

Markup is the formal congressional procedure in which lawmakers review and revise the language of a bill. If confirmed, the development could accelerate discussions on improving regulatory clarity for digital assets.

Taiwanese Legislator Submits Report Proposing Bitcoin Reserve Using Foreign Exchange Reserves

Taiwanese legislator Ko Ju-Chun submitted a report to the premier and Taiwan’s central bank proposing the introduction of a Bitcoin reserve using foreign exchange reserves, according to Wu Blockchain.

According to the Bitcoin Policy Institute (BPI), Ko submitted a proposal outlining the establishment of a national Bitcoin reserve. The move suggests that the government and central bank could review Bitcoin as part of the country’s foreign reserve framework.

Some countries and regions have previously discussed strategic Bitcoin stockpiles or including Bitcoin in public reserve assets. However, it has not been confirmed whether Taiwan’s government and central bank have actually begun a formal policy review.

U.S. Spot Ethereum ETFs Record $101 Million in Net Inflows in One Day

According to Odaily, total net inflows into U.S. spot Ethereum ETFs on May 1 (U.S. Eastern Time) came to $101 million.

Fidelity’s FETH saw the largest inflow that day, with $49.39 million. Its cumulative net inflows reached $2.289 billion.

BlackRock’s ETHA followed with $43.16 million in net inflows. As of the article’s publication, ETHA’s cumulative net outflows were reported at $100 million.

The current total net asset value of spot Ethereum ETFs stands at $13.603 billion, representing 4.93% of Ethereum’s total market capitalization. Cumulative net inflows reached $12.016 billion.

Circle Mints Additional 250 Million USDC on Solana

Circle minted an additional 250 million USDC on the Solana blockchain.

According to PANews, on-chain data shows that Circle issued 250 million new USDC on the Solana network earlier that day. Additional stablecoin issuance is generally interpreted as a liquidity supply measure to prepare for growing trading and payment demand.

Circle has previously adjusted USDC issuance across multiple blockchains in response to market demand. However, this latest mint does not necessarily indicate immediate market deployment or a direct increase in buying pressure.

OFAC Warns That Paying Iran’s Strait of Hormuz Transit Fees in Digital Assets May Violate Sanctions

The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) warned that paying so-called Strait of Hormuz transit fees to Iran using digital assets or other means could violate Iran-related sanctions.

According to panewslab.com, OFAC said that methods such as currency payments, digital assets, barter arrangements, in-kind payments, and donations to Iranian Red Crescent accounts, Bonyad Mostazafan, or Iranian embassy accounts could be considered support for the Iranian government or the Islamic Revolutionary Guard Corps (IRGC).

OFAC emphasized that U.S. persons and foreign entities controlled by U.S. persons are generally prohibited from engaging in transactions with the Iranian government, the IRGC, and Iranian digital asset exchanges. It also warned that non-U.S. entities involved in such payments or supporting Iranian financial institutions could face secondary sanctions or civil and criminal liability.

In addition, OFAC recommended enhanced due diligence for shipping and maritime service providers regarding vessels transiting Iranian waters or calling at Iranian ports.

JPMorgan Sees Stablecoin Market Cap Reaching $500 Billion to $600 Billion by 2028

JPMorgan said that while stablecoin transaction volumes are rising rapidly, the overall market size may not expand at the same pace.

The bank highlighted increasing stablecoin velocity as a key reason. As adoption in payments grows, the same capital is used more frequently, which may limit the need for new stablecoin issuance.

Based on this, JPMorgan projected the total stablecoin market capitalization at $500 billion to $600 billion by 2028. It maintained a cautious view toward more bullish forecasts calling for a $1 trillion market.

Stablecoins serve as core liquidity instruments across crypto trading, DeFi, and payment infrastructure. However, the report drew a distinction between usage growth and a sharp expansion in total market capitalization.

Anchorage Digital Submits Comment Letter on GENIUS Act, Plans Fourth Stablecoin Issuance With Western Union

Anchorage Digital submitted a comment letter regarding the proposed regulations under the GENIUS Act by the U.S. Office of the Comptroller of the Currency (OCC), according to Odaily.

Anchorage Digital currently co-issues three stablecoins with partners: USAT with Tether, USDGO with OSL Group, and USDtb with Ethena. The company said it plans to co-issue a fourth stablecoin, UDSPT, with Western Union in the near future.

Anchorage Digital added that it expects to become a formally licensed issuer of payment stablecoins once the GENIUS Act takes effect.

Reuters Raises Allegations That Iran’s Nobitex Helped Evade Sanctions

Reuters reported on the 2nd that Ali and Mohammad, co-founders of Iran’s largest crypto exchange Nobitex, are alleged to come from the influential Karaji family, and that the platform has been accused of helping Iran evade sanctions by processing crypto transactions linked to Iran’s central bank and the Islamic Revolutionary Guard Corps (IRGC).

According to the report, although Nobitex itself is not under U.S. sanctions, it has been accused of brokering related transactions worth tens to hundreds of millions of dollars. Blockchain analytics firm Elliptic estimated that about $500 million in crypto moved through Iranian central bank wallets between November 2024 and June 2025, of which roughly $347 million flowed into Nobitex in the first half of 2025.

The investigation also found that Nobitex conducted substantial fund transfers with overseas exchanges including Binance. It was also reported to have continued providing services to some whitelisted users during Iran’s wartime internet shutdown.

Nobitex had previously been reported to have transferred more than $2.3 billion since 2023.