[News Brief] Jun 2, morning | Bitcoin Spot ETFs See $484 Million in Net Outflows, Coinbase CEO Expects Regulatory Clarity Bill

Odaily, citing SoSoValue data, reported that on June 1 U.S. Eastern Time, Bitcoin spot ETFs saw total net outflows of $484 million.

The net outflow from Bitcoin spot ETFs continued for an 11th consecutive trading day. The largest outflow came from BlackRock's IBIT, which lost $440 million in a single day. IBIT's cumulative net inflows stand at $63.367 billion.

Meanwhile, Morgan Stanley's ETF MSBT recorded net inflows of $6.1434 million. MSBT's cumulative net inflows total $239 million.

Total net assets of Bitcoin spot ETFs stand at $91.16 billion, and the ratio of ETF net assets to Bitcoin's total market capitalization is 6.37%. Cumulative net inflows were tallied at $55.179 billion.

According to Odaily, crypto analyst Ai Yi Mo said a Mt. Gox-related cold wallet transferred 10,423 BTC to a new address.

The amount is worth about $739 million.

The same address also sent 116 BTC to a Mt. Gox hot wallet. This is worth about $8.25 million.

The 10,423 BTC moved to the new address has not yet shown any further transfers, and its specific purpose remains unknown.

This is the first large on-chain transfer from Mt. Gox-related addresses in about six months.

The Coinbase CEO said passage of a Bitcoin and crypto regulatory clarity bill in the U.S. Congress is drawing near.

According to source @pete_rizzo, the Coinbase CEO described the bill as "the biggest financial bill in decades" and said it is "transformational in nature."

He also said that "every major bank" wants to enter the crypto market. The remarks came as legislative discussions continue in the United States to clarify crypto market structure and regulatory standards.

According to Watcher.Guru, CME Group has officially launched 24/7 trading for crypto futures and options.

With this move, institutional investors can now trade crypto derivatives on weekends and holidays as well. CME is a global derivatives exchange that has provided major crypto derivatives including Bitcoin and Ethereum.

Hong Kong's Financial Services and the Treasury Bureau said it will not introduce transitional arrangements for existing virtual asset service providers.

According to PANews, acting Deputy Secretary for Financial Services and the Treasury Chan Ho-lim said in a Legislative Council speech that no separate grace period will be provided under the new regulatory framework for virtual asset trading, custody, advisory, and management services, in order to avoid regulatory gaps.

He explained that institutions currently operating such businesses or seeking to enter the market should contact regulators as soon as possible and begin the pre-application process.

At present, six virtual asset trading platforms in Hong Kong are under review. Unless exempt, a license is required to provide virtual asset trading, custody, advisory, and management services, and the new rules include penalty provisions at a level similar to the current framework.

Brazil's central bank has tightened licensing rules for crypto service providers and made independent financial audits mandatory, PANews reported citing Bits.media.

Under the new rules effective June 1, crypto exchanges, brokerages, and custodians must undergo an independent auditor's financial audit before obtaining an operating license. Auditors will review financial condition, compliance with anti-money laundering and counter-terrorist financing rules, segregation of customer assets, risk management, and employee training systems.

Auditors must be registered with Brazil's Securities and Exchange Commission. New applicants must meet the requirements from the start of the registration process, and existing licensed firms must also undergo audits when renewing their licenses.

Brazil had previously brought crypto services under central bank supervision through a 2022 law, and introduced the relevant licensing regime in November 2025. More recently, it banned 28 betting and prediction market platforms, including Polymarket and Kalshi, for violating derivatives trading regulations.

Robinhood Markets completed its acquisition of Canadian digital asset service provider WonderFi on June 2, Odaily reported.

The acquisition price was $180 million. WonderFi operates the regulated Canadian crypto platforms Bitbuy and Coinsquare, and users may be migrated to the Robinhood app.

Robinhood said the acquisition brings its number of customers outside the United States to over 1 million. Previously, Robinhood expanded its institutional crypto business through its acquisition of Bitstamp.

Twenty One Capital has received notice from the New York Stock Exchange that it does not meet the requirement for independent directors on its audit committee, PANews reported citing Protos.

According to the report, after Tether acquired all of SoftBank's Class A shares on May 19 and canceled the related Class B shares, two directors nominated by SoftBank resigned, leaving only one independent director on the audit committee. NYSE rules require two independent directors.

Twenty One Capital said it will appoint an independent director to fill the vacancy as soon as possible. The company holds about 43,500 BTC and is controlled by Tether.

PANews, citing on-chain analyst Eugene, reported that addresses linked to prominent crypto investor Cobie (Jordan Fish) accumulated 20 million LDO, worth about $6.58 million, and transferred them to exchanges including Binance, OKX, and Kraken.

Large token transfers to exchanges may be interpreted as potential selling pressure and are being cited as a short-term supply-demand risk factor.

According to Odaily, based on SoSoValue data, Ethereum spot ETFs saw total net outflows of $44.4389 million on June 1 (U.S. Eastern Time).

The largest outflow came from BlackRock's ETHA, which lost $34.9728 million in a single day. Fidelity's FETH recorded net outflows of $9.4662 million.

Total net assets of Ethereum spot ETFs stand at $11.14 billion, and the ratio of ETF net assets to Ethereum's total market capitalization is 4.6%. Cumulative net inflows were tallied at $11.33 billion.