Brief Summary

• Bitcoin is trading around $73K this morning after yesterday’s geopolitical and ETF-driven selloff.
• Ethereum is hovering near $2,000 after recently breaking below that level for the first time since late March.
• U.S. spot Bitcoin ETFs have now posted nine straight days of outflows, the longest withdrawal streak since launching in January 2024.
• Roughly $2.8 billion has left spot Bitcoin ETFs during the nine-session streak, including about $1.3 billion this week.
• A large Bitcoin and Ethereum options expiry today is keeping short-term volatility risk elevated.
• Paxos Securities Settlement Company received SEC approval to register as a clearing agency, making it the first blockchain-native firm approved for that role in the U.S.
• The Block’s morning feed highlights more regulated infrastructure moves, including Aave Labs securing U.K. licenses and Base launching Azul on mainnet.
• Stablecoin regulation remains a major global fault line, with Europe warning about crypto-bank shocks and the ECB pushing back against euro stablecoin expansion.
• Tether’s planned Georgian lari stablecoin remains part of the broader move toward private stablecoin issuers partnering with governments.
• Standard Chartered remains bullish on Ethereum long term, pointing to stablecoins and tokenized real-world assets as potential drivers.
• DeFi security remains a concern after major 2026 exploits, including the Kelp DAO incident.
• The market is stabilizing, but bulls still need ETF inflows, stronger spot demand, or a clean reclaim of the $75K-$80K zone.

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