[News Brief] May 16, morning | U.S. Senate Banking Committee Advances the CLARITY Act, a Crypto Market Structure Bill

U.S. Senate Banking Committee Advances the CLARITY Act, a Crypto Market Structure Bill

Odaily reported that the U.S. Senate Banking Committee advanced the CLARITY Act, a crypto market structure bill, by a vote of 15 in favor and 9 against.

The bill aims to establish a comprehensive federal regulatory framework for the digital asset industry, and Democratic Senators Ruben Gallego and Angela Alsobrooks also supported it.

However, TD Cowen raised the probability of the bill passing from about one-third to 40%, while noting that significant disagreements still remain. The bill had previously been delayed due to controversies over stablecoin revenue sharing, conflicts of interest, and ethics provisions.

Benchmark analysts also assessed that the current support is still insufficient to guarantee final passage in the Senate.

U.S. Spot Bitcoin ETFs See $290 Million in Net Outflows

According to SoSoValue data, U.S. spot Bitcoin ETFs recorded total net outflows of $290 million on May 15 (U.S. Eastern Time).

The largest net outflow came from BlackRock's IBIT, which saw $136 million leave in a single day. ARKB, issued by ARK Invest and 21Shares, recorded net outflows of $52.4817 million.

As of the time of reporting, the total net assets of spot Bitcoin ETFs stood at $104.289 billion, and the ratio of ETF net assets to Bitcoin's total market capitalization was 6.58%. Cumulative net inflows were $58.34 billion.

U.S. Spot Ethereum ETFs See $65.6497 Million in Net Outflows

PANews, citing SoSoValue data, reported that U.S. spot Ethereum ETFs recorded total net outflows of $65.6497 million on May 15 (U.S. Eastern Time).

The largest net outflow came from BlackRock's spot Ethereum ETF ETHA. ETHA saw $50.3527 million withdrawn in one day, while its cumulative net inflows reached $11.812 billion.

Fidelity's FETH posted net outflows of $11.0772 million, marking the second-largest outflow. Its cumulative net inflows were $2.197 billion.

As of the time of reporting, the total net assets of spot Ethereum ETFs stood at $12.929 billion, representing 4.83% of Ethereum's total market capitalization. Cumulative net inflows were $11.832 billion.

Israel Preparing to Resume Military Operations Against Iran

Odaily reported that on the night of the 15th local time, a senior Israeli official said Israel is preparing to resume military operations against Iran.

The official said the operation could last from several days to several weeks, adding that “the United States understands that negotiations with Iran are not making progress.”

He added that Israel is preparing for a prolonged conflict and is awaiting President Trump's final decision. He also said additional developments may become clear within the next 24 hours.

WTI Crude Oil Rises Intraday to $105.11 Per Barrel

Odaily, citing Gate data, reported that WTI crude oil was trading at $105.11 per barrel, up 3.00% intraday.

A sharp rise in international oil prices could increase concerns over inflation and monetary policy, weighing on risk appetite for risk assets.

BlackRock Withdraws 1,768 BTC From Coinbase

Odaily, citing Onchain Lens, reported that BlackRock withdrew 1,768 BTC from Coinbase five hours earlier.

The withdrawal was worth approximately $140.3 million. Large movements out of exchanges are often interpreted as possible transfers to institutional custody or asset management wallets.

Abu Dhabi Sovereign Wealth Fund Mubadala Buys More BlackRock Bitcoin ETF

Bitcoin Magazine reported that Abu Dhabi sovereign wealth fund Mubadala purchased additional shares of BlackRock's Bitcoin ETF, bringing its holdings to more than $565 million.

Mubadala is one of the major sovereign wealth funds in the Middle East, and the additional purchase is seen as another example of growing institutional investment in spot Bitcoin ETFs.

Four Wallets Withdraw 89,026 ETH From FalconX and Kraken

PANews, citing monitoring by Onchain Lens, reported that four wallets withdrew 89,026 ETH from FalconX and Kraken.

The withdrawal was worth approximately $197.85 million. Large ETH outflows from exchanges and brokerages can be interpreted as a sign of easing short-term selling pressure, although the wallet owners and the purpose of the withdrawals remain unconfirmed.

U.S. Spot XRP ETFs See $10.8661 Million in Daily Net Inflows

Odaily, citing SoSoValue data, reported that U.S. spot XRP ETFs recorded daily net inflows of $10.8661 million on the 15th (U.S. Eastern Time).

The product with the largest inflow was the Bitwise XRP ETF, which attracted $6.8953 million in one day. Its cumulative net inflows totaled $460 million.

Grayscale XRP Trust ETF recorded daily net inflows of $1.6677 million, bringing its cumulative net inflows to $129 million.

As of the time of reporting, total net assets of U.S. spot XRP ETFs stood at $1.184 billion, and the XRP net asset ratio was 1.33%. Cumulative net inflows were $1.385 billion.

Bitcoin Falls Below $79,000

PANews reported on May 16, citing OKX market data, that Bitcoin fell below the $79,000 level.

Bitcoin was trading at $78,992.60 per coin, down 0.21% on the day.