U.S. spot Bitcoin ETFs posted net inflows for a fifth consecutive week, adding $1.05 billion in the week ending May 6 and about $3.8 billion over the past five weeks, according to reported statistics. SoSoValue data shows total net assets reached a record $108.76 billion as bitcoin traded near $81,100 after a 1.3% dip.

Bitwise said May 7 it has launched its first tokenized crypto basis strategy fund, the Bitwise Crypto Carry Fund (USCC), marking the firm's debut in tokenized fund offerings. The company said it plans to tokenize all future funds. USCC targets market-neutral returns through crypto basis trading, with the underlying technology again provided by Superstate. The fund is currently open only to accredited investors.

ChainThink reports that Lido said on May 7 that the Snapshot vote authorizing first-loss protection for EarnETH (within the sub-1% threshold) has reached quorum. Lido Earn's first-loss mechanism will fully cover affected EarnETH users' losses. Lido added that 2,500 stETH were transferred last week as part of the DeFi United relief effort. The attacker's rsETH positions on Aave across Ethereum and Arbitrum have been liquidated under Aave's recovery plan, with liquidation proceeds now overseen by the Recovery Guardian. Once the Kelp protocol lifts its suspension, the EarnETH vault will resume normal operations, allowing deposits and withdrawals as usual. Losses will be reimbursed via the first-loss mechanism, and both the EarnETH and EarnUSD vaults will continue accruing yield during the interim.

Ethereum (ETH) is approaching a pivotal technical juncture that could set the tone for its next major move, according to widely followed analyst EGRAG CRYPTO. The call comes as ETH slid nearly 4% over the past 24 hours, failing to hold the $2,400 area amid heavier short-side pressure. In a Thursday post on X, EGRAG CRYPTO said ETH has spent an extended period compressing on the weekly chart within what they described as a "massive Ascending Triangle". The analyst added that price continues to respect the macro "ETH Line," a long-running support level. EGRAG framed the near-term outlook as a binary setup: a breakdown from the structure would open the door to $1,600, labeled the "structural failure zone," while a confirmed breakout would initially target $4,800. The analyst also cited a far larger long-range target of $33,000 under euphoric market conditions, while emphasizing that the immediate focus remains the battle between support and resistance. Another trader, Ted Pillows, echoed the cautious tone, writing that ETH has repeatedly failed to stay above $2,400 and that spot demand remains weak. "Until that changes, ETH will continue to underperform the market," they said. On-chain positioning data shared earlier by analyst CW8900 pointed to declining high-leverage long exposure and a slight rise in short interest. CW8900 noted a concentration of short positions between current levels and $2,500, and suggested a clean break above $2,500 could catalyze a swift move toward $3,000. Despite the price softness, several backdrop indicators were cited as potentially supportive. A CryptoOnchain report on Tuesday flagged a sharp jump in Ethereum staking inflows, with the seven-day average rising from about 28,200 to nearly 144,000 by May 5. Increased staking can reduce liquid supply and may ease selling pressure if demand holds. Analyst Ali Martinez also highlighted that ETH has gained more than 30% since a SuperTrend buy signal in mid-March, bringing price to its Realized Price near $2,380. Holding above that level would move many holders from unrealized losses to profits, a shift that has previously coincided with softer selling pressure. Martinez identified $2,772 and $2,921 as the next notable supply zones above that area. After briefly tagging $2,400 yesterday, ETH was trading closer to $2,300 at the time of writing. Even with the pullback, it remains up about 11% over the past month and roughly 27% year to date. The post "Ethereum Nears Critical Breakout Point as Analyst Eyes $1.6K or $4.8K Move" appeared first on CryptoPotato.

White House crypto chief @patrickjwitt said he is targeting July 4 for President's signature on the CLARITY Act. He expects a Senate Banking Committee markup later this month, a full Senate floor vote in June, and House action to follow. Calling it a "tremendous birthday present for America celebrating our 250th," he laid out the plan on the @Anchorage Digital Mainstage at @consensus2026 in Miami.

RT James Hunt ICYMI: Highlights from today's Asia and EMEA sessions (@TheBlockCo). American Bitcoin posted an $81.8 million net loss in Q1, largely reflecting bitcoin's 22% drop over the quarter. 1inch liquidity provider TrustedVolumes suffered an exploit that drained about $6 million. A California man received a 78-month prison sentence for participating in a $250 million crypto theft ring. South Korea's Bithumb is exploring expansion into Vietnam via a new partnership with SSID. U.S. spot bitcoin ETFs logged a fifth straight day of net inflows, adding $46 million on Wednesday. Core Scientific shares fell after the miner swung to a Q1 net loss despite higher revenue. BNY plans to expand its crypto custody business into the UAE through partnerships with Finstreet and ADI Foundation. Pantera said the tokenization market, now estimated at $321 billion, is still in a "newspaperonawebsite" stage even after 60% growth. Bitwise CEO Hunter Horsley argued the four-year crypto cycle is effectively over as the market enters an institutional era. Kraken co-CEO Arjun Sethi called tokenized equities the "natural evolution" of crypto markets, noting xStocks has settled roughly $5 billion on-chain since launch. TD Cowen lifted its Strategy price target to $395 from $385, citing faster STRC preferred issuance that it says improves the capital efficiency of the firm's bitcoin accumulation relative to current market pricing. Mysten Labs co-founder Adeniyi Abiodun said Sui has processed more than $1 trillion in stablecoin volume since August as it pursues free, private payments. Payward, Kraken's parent company, agreed to acquire Hong Kong-based stablecoin payments firm Reap Technologies for $600 million in cash and stock.

Bitwise is set to acquire Superstate's crypto arbitrage fund in its first move into the fast-growing market for tokenized investment products, CoinDesk reported. The firms said Thursday that Bitwise will assume investment management of the Superstate Crypto Carry Fund (USCC) on June 1. The vehicle will be renamed the Bitwise Cryptocurrency Arbitrage Fund and will continue to run on Superstate's blockchain infrastructure. USCC manages more than $267 million and offers qualified investors a crypto "cash-and-carry" strategy, seeking to capture the spread between spot prices and futures prices, which are often higher during bull markets. More than $100 million of the fund's assets are actively posted as collateral in decentralized finance protocols including Aave and Kamino. The deal gives Bitwise an initial foothold in tokenized funds. The firm oversees about $11 billion in crypto assets across ETFs and private funds. Tokenized funds have emerged as one of the quickest-growing segments in digital assets as managers look to modernize fund operations. BlackRock, Franklin Templeton and Fidelity have rolled out tokenized Treasury and money market products, while crypto-native firms are testing onchain hedge fund structures and yield strategies. Tokenization allows investors to hold blockchain-based ownership tokens that can be transferred and settled around the clock, a setup supporters say can reduce settlement frictions and make fund interests easier to deploy in DeFi. RWA.xyz data show the global value of tokenized real-world assets has topped $30 billion, with tokenized U.S. Treasury products exceeding $15 billion. The transaction also underscores a strategic pivot at Superstate, founded by Robert Leshner, the creator of Compound. Superstate plans to stop directly managing funds and concentrate on its infrastructure platform, FundOS, for tokenized investment products. Invesco, which manages $2.2 trillion, announced this move last month. Bitwise CEO Hunter Horsley said in a statement: "Capital markets are shifting onchain. Traditional institutions and crypto-native institutions are increasingly using tokenized funds." After the transition, the fund's structure is expected to remain largely intact. Existing investors will keep their USCC identifiers, token contracts and blockchain addresses, while Superstate will continue to handle token issuance and transfer services.

INSIGHT: SoFi's crypto business recorded $121.6 million in transaction revenue in the first quarter. Costs totaled $120.7 million, leaving net revenue of $852,000.

CoinDesk reports that assets under management in U.S. spot XRP ETFs have reached $1.1 billion, putting an estimated 1.26% of XRP's supply effectively off the open market—a record share. Traders remain fixated on XRP's repeated failure to clear the $1.50 level. Even with cumulative ETF inflows totaling about $1.3 billion, the token has moved sideways between $1.30 and $1.50 for 75 straight days, reinforcing the view that ETF demand does not automatically translate into an immediate price breakout. Data from November to December 2025 underscores the point: despite record inflows that made up the bulk of the current $1.32 billion cumulative trading volume cited in the report, XRP still fell 27% over the period. The supply dynamic may matter more over time than day-to-day price action. With 1.26% of supply parked in ETFs, reduced exchange float could amplify upside moves if risk appetite improves and those holdings remain locked up, potentially making rallies cleaner and more sustained. The report notes a comparable setup in January 2026, when XRP gained 27%. More recently, net enthusiasm from April to May totaled $110 million—a relatively modest figure that suggests the latest ETF bid is less about forcing a near-term surge and more about strengthening the asset's ownership base. Looking ahead, the report frames the next catalyst as either a renewed acceleration in inflows back toward late-2025 levels or a shift in the net asset flow picture. Sustained negative net flows would point to outflows and profit-taking after another failed breakout attempt. For now, the data supports the idea that roughly 1.26% of XRP supply has been sidelined, waiting for the right conditions.