[News Brief] May 27, morning | Bitcoin Spot ETFs Record 7 Consecutive Trading Days of Net Outflows, with BlackRock IBIT Posting the Largest Outflow

U.S. spot Bitcoin ETFs recorded total net outflows of $334 million on May 26, Eastern Time, extending their streak to seven consecutive trading days of net outflows.

According to PANews, SoSoValue data showed that BlackRock’s IBIT posted the largest net outflow at $192 million. IBIT’s cumulative net inflows stand at $64.581 billion.

Fidelity’s FBTC recorded net outflows of $57.7364 million. FBTC’s cumulative net inflows were estimated at $10.706 billion.

As of the time of reporting, total net assets of spot Bitcoin ETFs stood at $98.397 billion, accounting for 6.45% of Bitcoin’s total market capitalization. Cumulative net inflows were $56.75 billion.

According to Odaily, Gate data showed Brent crude rose to an intraday high above $100 per barrel.

A sharp rise in international oil prices could increase inflationary pressure and affect interest rate expectations as well as risk-asset sentiment.

Minneapolis Fed President Neel Kashkari said consecutive rate hikes may be necessary if inflation resurges due to worsening tensions in the Middle East.

According to Odaily, Kashkari said in a written interview that “the next rate move could be a cut or a hike,” indicating that policy responses may change depending on inflation trends.

He explained that a key variable is whether the Strait of Hormuz reopens soon or remains effectively closed due to expanding damage to regional infrastructure. In the latter case, global energy shortages could intensify.

Kashkari warned that long-term inflation expectations among businesses and households could become unanchored, and that the Federal Open Market Committee (FOMC) may need to respond forcefully.

According to PANews, The Wall Street Journal reported that the U.S. Navy has resumed assistance for ships transiting the Strait of Hormuz.

U.S. military officials said a Greek-owned very large crude carrier transporting 2 million barrels of oil received U.S. Navy guidance and escort while passing waters near Oman’s coast.

The vessel had remained in the Gulf region since early March and was traveling to unload its cargo in India.

This move marks the resumption of the U.S. “freedom operations,” which had been suspended for about 36 hours. The U.S. Navy plans to support the transit of around 12 ships through the Strait of Hormuz over the coming days, including very large crude carriers and container ships.

According to Odaily, the naval arm of Iran’s Islamic Revolutionary Guard Corps said 25 commercial vessels, including oil tankers and container ships, transited the Strait of Hormuz over the past 24 hours after receiving authorization.

The IRGC said the transits were carried out under naval coordination and security guarantees.

It also said it is controlling the Strait of Hormuz “effectively and authoritatively,” warning that any act of aggression would be met with a strong response.

The Strait of Hormuz is a key maritime chokepoint for Middle Eastern oil shipments, and any increase in transit uncertainty could affect energy prices and global risk-asset sentiment.

Odaily reported, citing OKX market data, that BTC fell below 76,000 USDT.

Bitcoin is currently trading at 75,998.5 USDT, down 2.11% over the past 24 hours.

According to PANews, OKX market data showed Ethereum fell below $2,100.

At the time of reporting, Ethereum was trading at $2,099.97, down 1.27% on the day.

China’s Supreme People’s Court said it will study adjudication standards for emerging case types such as cryptocurrency and cross-border finance.

According to Odaily, Liu Guixiang, a full-time member of the Adjudication Committee of the Supreme People’s Court, said at a State Council Information Office briefing that the court will conduct in-depth research on judicial rules for new categories of cases such as cryptocurrency and cross-border finance.

He added that judicial interpretations on civil compensation related to insider trading and market manipulation will also be introduced as soon as possible to support capital market stability and protect the rights and interests of small and medium-sized investors.

The move is part of broader efforts to refine standards for disputes involving the digital economy, including AI-related cases, data property rights protection, data transactions, and AI-generated content.

According to Odaily, Variant Chief Legal Officer Jake Chervinsky said on X that “there is not much time left to advance the CLARITY Act.”

He said that although things may appear quiet on the surface, work is underway behind the scenes to prepare a bill text that can be brought to a congressional vote and win support from at least seven Democratic senators.

He added that this is far from easy and that the coming weeks will be a decisive period. The CLARITY Act is a market structure bill aimed at clarifying the regulatory framework for digital assets in the United States.

Kraken has launched a Bitcoin vault product that allows BTC holders to earn yield through DeFi protocols such as Aave and Morpho.

According to CoinDesk, the product is structured to connect BTC holdings to DeFi lending protocols in order to generate yield.

Source: PANews, CoinDesk