Ethereum spot ETFs had a total net outflow of $86.3066 million yesterday, continuing the net outflow for 6 days.
According to SoSoValue data, yesterday (May 18th, US Eastern Time), Ethereum spot ETFs had a total net outflow of $86.3066 million.
The Ethereum spot ETF with the largest single-day net outflow yesterday was Blackrock’s ETF ETHA, with a single-day net outflow of $55.3989 million. Currently, ETHA’s total historical net inflow has reached $117.57 billion. The second largest was Fidelity’s ETF FETH, with a single-day net outflow of $14.6979 million, and FETH’s total historical net inflow has reached $21.83 billion.
As of press time, the total net asset value of Ethereum spot ETFs is $122.03 billion, and the ETF net asset ratio (market value as a percentage of the total market value of Ethereum) is 4.77%, with a cumulative historical net inflow of $117.45 billion.
[Foresight News]
Bitget will launch preOPAI flexible savings
Bitget will launch preOPAI flexible savings. During the campaign, users can subscribe to preOPAI in the “Easy Earn” section, with a maximum APR of 5%.
The subscription period begins on May 19 at 18:00 (UTC+8). Specific parameters are subject to those displayed on the subscription page.
[Foresight News]
HSBC: Even if the U.S. and Iran reach a ceasefire, more central banks may still raise interest rates.
HSBC economists Janet Henry and Beson Ellis noted in a report that even if the US and Iran reach a peace agreement in the short term, more central banks are expected to raise policy rates. They said that even if the Strait of Hormuz reopens quickly, the risk of supply shocks and their impact on global inflation and growth will persist, and the current rate hikes are more about credibility.
The central banks of Australia and Norway were already facing inflationary pressures before the conflict and hoped that the rate hikes in May would be the last. The ECB and the Bank of England may start raising interest rates in June or July, and if the Federal Reserve raises interest rates, more emerging market economies may tighten policy.
HSBC expects the Philippines to raise interest rates further and expects India and Indonesia to raise interest rates in the second half of the year.
[Odaily]
Iran Stock Exchange Resumes Trading After an 80-Day Closure
On May 19 local time, according to the Iranian Students’ News Agency (ISNA), the Tehran Stock Exchange resumed trading after an 80-day closure.
The Iranian stock market had been closed continuously from February 28—the day the U.S.-Iran conflict erupted—until May 18, totaling 80 days.
[Odaily]
Planet Noon News
-
A certain whale’s 5x leverage HYPE long position has a value of $66.00 million, with a floating profit of over $12.70 million;
-
A certain long-term SOL staking address continues to reduce its holdings, with a cumulative cash out of over $137.00 million;
-
HSBC: Even if the US and Iran cease hostilities, more central banks may still raise interest rates;
-
Hyperliquid whale took profit and closed BTC/ETH short positions and placed new short orders, with a cumulative nominal size of over $50.00 million;
-
The Trump family’s Bitcoin mining company, American Bitcoin, holds over 7,500 BTC;
-
Kelp: rsETH has made key progress in recovery, with multiple DeFi protocols jointly liquidating the attacker’s positions;
-
Bank of America: Oil price of $90 is already the “best-case scenario,” and it may reach $130 in early July if the double lockdown continues;
-
Whale “sets ten big goals first” and posts a screenshot of shorting BTC with a floating profit of over $12.00 million.
France May Miss the Wave of AI Agents and Stablecoin Payments: Experts Say Tax System Must Be Adjusted Within 6 Months to Avoid Marginalization
An opinion article published by the French media “Le Monde” pointed out that France may only have about 6 months to grasp the new round of industrial wave led by “agentic AI”, otherwise it may be marginalized in the global digital financial system. Multiple people in the French crypto industry believe that AI agent-driven online transactions are growing rapidly, and most of the settlements have been completed through stablecoins.
According to the “State of Crypto” report released by Andreessen Horowitz, the annual transaction volume of stablecoins has reached approximately $46 trillion, nearly 3 times that of Visa and 20 times that of PayPal, becoming an important infrastructure for the global payment system.
The article further pointed out that the x402 standard promoted by Coinbase and adopted by Cloudflare, Google, and Visa, etc., has supported AI agents to automatically complete payments through stablecoins, and the cumulative number of transactions has exceeded 119.00 million.
However, in terms of the tax system, the current French terms have been criticized for being unable to adapt to this trend: the tax processing mechanism between stablecoin exchange and fiat currency withdrawal is complex, which is considered to inhibit the return of funds to the banking system, resulting in a large number of digital asset transactions remaining in the stablecoin ecosystem for a long time. In the context of the gradual integration of AI agents and stablecoin payments, the global financial infrastructure is being restructured, and if France does not adjust its regulatory and tax framework in a timely manner, it may miss the new round of digital economy dividends.
[Odaily星球日报]
A whale’s 5x leveraged long position in HYPE is worth $66.00 million, with an unrealized profit exceeding $12.70 million.
According to Onchain Lens monitoring, a whale holds a 5x leveraged long position in HYPE, totaling 1.38 million tokens. Based on a price of approximately $48, the position is valued at $66 million.
The position currently has an unrealized profit of over $12.7 million and has paid $2.3 million in funding fees. The entry price was $40.44, with a liquidation price of $37.96.
[Odaily Planet Daily]
UOB: US 10-year Treasury yield may rise further
Quek Ser Leang, a strategist at UOB Global Economics & Markets Research, said that according to the weekly chart, the U.S. 10-year Treasury yield may rise further. He pointed out that the 10-year Treasury yield closed up 23.1 basis points last week, “In the past few times, after such a significant weekly surge in the 10-year Treasury yield, the yield has further increased.”
He added that last week’s strong rise “was accompanied by the yield breaking through the weekly downward trend line connecting the high points of 5.021% and 4.809%, which increases the possibility of the yield continuing to rise.”
[Odaily]
SEC Prepares Tokenized Stock Rules as Onchain Market Tops $1.4 Billion
The Securities and Exchange Commission (SEC) is reportedly preparing to release its innovation exemption for tokenized stocks. The framework would open the door to trading digital versions of public company shares. The exemption could permit third-party tokens to track share prices without the backing or consent of the public companies. That marks a sharp shift in Washington’s approach to onchain securities.
According to Bloomberg, the innovation exemption could be unveiled as early as this week. Under the framework, the tokens would trade on decentralized crypto platforms and may not provide the same shareholder benefits as traditional equities, including voting rights or dividend access.
Tokenization has emerged as one of the crypto sector’s fastest-growing trends, with major Wall Street institutions moving swiftly to secure an early foothold in the market. The Depository Trust & Clearing Corporation (DTCC) recently announced that it will begin facilitating limited production trades of securities tokenized through DTC’s tokenization service in July 2026. A broader rollout is planned for October 2026. Meanwhile, in March 2026, Nasdaq revealed plans to introduce an equity token design. In January, the New York Stock Exchange announced it is developing a platform designed for the trading and on-chain settlement of tokenized securities.
Meanwhile, the tokenized stock market has expanded sharply over the past month. Per RWA.xyz, distributed tokenized stocks now total $1.4 billion in distributed value across 2,246 assets. That figure climbed 29.68% in the past 30 days. Monthly transfer volume has reached $3.24 billion. Meanwhile, the holder base grew 25% to roughly 265,000 over the same window. Ondo leads the market with $883 million in tokenized equity value and a 59.77% share. By comparison, xStocks follows at $404.5 million, or 27.38%.
[Bloomberg]
Bitcoin spot ETFs saw a total net outflow of $649 million yesterday, with BlackRock’s IBIT leading the outflows at $448 million.
According to SoSoValue data, Bitcoin spot ETFs recorded a total net outflow of $649 million yesterday (May 18, Eastern Time). The Bitcoin spot ETF with the largest single-day net outflow yesterday was BlackRock’s ETF IBIT, with a net outflow of $448 million. IBIT’s cumulative net inflow to date stands at $65.333 billion. Next was Ark Invest and 21Shares’ ETF ARKB, which saw a single-day net outflow of $110 million; ARKB’s cumulative net inflow to date stands at $1.280 billion.
As of press time, the total net asset value (NAV) of Bitcoin spot ETFs stood at $100.485 billion, with the ETF net asset ratio (i.e., the ratio of ETF market cap to Bitcoin’s total market cap) reaching 6.52%. The cumulative net inflow in history has reached $57.691 billion.
[Foresight News]
Samsung’s South Korean union has softened its stance, opening the door for a deal
According to market news, a labor official said that Samsung’s South Korean labor union has softened its stance, opening the door for an agreement.
Samsung Electronics and the labor union will restart negotiations in the afternoon, with two issues still in dispute.
[Odaily]
Monad Co-Founder: The Monad network is unaffected by the Echo security incident and is operating normally.
On May 19th, Monad co-founder Keone Hon posted on the X platform that the Monad network was unaffected and operating normally, and security researchers are investigating the eBTC-related incident of Echo Protocol. Researchers have determined that the vulnerability resulted in approximately $816,000.00 being stolen.
Previous news stated that Echo Protocol was attacked on the Monad chain, and the hacker minted 1,000 eBTC and then extracted funds through Curvance.
[PANews]
Institutions: AI rally is expected to continue to drive Asian stock markets in the second half of the year
Julius Baer stated in a report that the artificial intelligence boom may still be a key driver for Asian stock markets in the second half of the year. Analyst Richard Tang maintained an overweight rating on Japanese, Korean, and Chinese stocks, supported by a strong earnings cycle.
Japan benefits from optimism about “Takachi economics” and corporate governance reforms, and is expected to see more foreign capital inflows. In South Korea, the stock market rally may also continue due to the current shortage of memory chips. Richard Tang believes that China’s A-shares offer stronger artificial intelligence exposure than H-shares, and this trend is expected to continue.
In South Asia, Julius Baer is optimistic about Singapore due to its strong currency and high market yields; while the Indian market may recover relatively later this year, supported by rising household savings and favorable demographics.
[Odaily星球日报]
Morgan Stanley: The risk of a significant correction in U.S. equities has surged, and the yield on 10-year U.S. Treasury bonds has risen above 4.5%.
Morgan Stanley’s “warning line” for U.S. equities has already been breached. Michael Wilson, the bank’s Chief Investment Officer and a well-known Wall Street bull, warned that if U.S. Treasury yields continue rising and volatility climbs, the U.S. stock market will face its “first significant correction since the end of March.”
Michael Wilson stated: “If long-term yields rise alongside rising bond volatility, we expect the equity market to experience its first significant correction since bottoming at the end of March.”
Previously, Morgan Stanley flagged a 10-year U.S. Treasury yield of 4.5% as “the threshold at which yields may pose a more pronounced headwind to equity valuations.”
[ChainCatcher]
WLFI Caiku Company AI Financial warned in an SEC filing that it may not survive this year.
On May 19, news emerged that AI Financial, a Nasdaq-listed treasury company holding WLFI tokens, warned in its SEC filing that its liquidity situation has raised substantial doubt about its ability to continue as a going concern, potentially failing to survive through this year.
The company was formerly known as Alt5 Sigma and holds 7.28 billion WLFI tokens, with a book value of $706 million—significantly down from its cost basis of approximately $1.46 billion. All tokens are subject to contractual lock-up periods preventing sale: 3.53 billion tokens are non-transferable for 12 months, while the remaining 3.75 billion tokens can only be unlocked upon conditions such as shareholder approval.
The company’s cash balance at quarter-end stood at just $10.5 million, with a working capital deficit of $5.5 million.
[PANews]
Geopolitical cooling triggers crude oil pullback, Bitget BZ contract open interest increases by over 28% in 24 hours, ranking second in the entire network.
International crude oil prices have fallen due to a temporary cooling of the geopolitical situation in the Middle East. According to Bitget market data, Brent crude oil (BZ) is currently trading at $109.00 per barrel, down 2.53% on the day. The intensified battle between bulls and bears in the market has led to an increase in trading activity in related contract markets.
According to Coinglass data, the total open interest of BZ contracts across the entire network is currently $67,931,600.00. Among centralized exchanges, Binance, Bitget, and OKX rank in the top three in terms of open interest, with $46,991,300.00, $8,342,400.00, and $5,646,100.00 respectively. Among them, the 24-hour open interest growth rate on the Bitget platform reached 28.32%.
Currently, the Bitget Universal Exchange (UEX) ecosystem covers diversified assets such as US stocks, CFD, and crypto, providing users with a wide range of cross-market asset allocation channels.
[Foresight News]
Easing geopolitical tensions trigger crude oil pullback; Bitget BZ contract open interest increases by over 28% in 24H, ranking second on the entire network.
International crude oil prices have fallen due to a temporary cooling of the geopolitical situation in the Middle East. According to Bitget market data, Brent crude oil (BZ) is currently trading at $109 per barrel, down 2.53% in a single day. The game between long and short positions on the market has intensified, driving an increase in trading activity in related contract markets.
According to CoinGlass data, the total open interest of BZ contracts across the entire network is currently $67,931,600. Among centralized exchanges, Binance, Bitget, and OKX rank in the top three in terms of open interest, with $46,991,300, $8,342,400, and $5,646,100 respectively. Among them, the 24-hour open interest growth rate on the Bitget platform reached 28.32%, leading the entire network.
[Odaily]
A new wallet withdrew 41,800 SOL from OKX, worth $3.55 million.
Onchain Lens monitoring shows that on May 19th, a newly created wallet withdrew 41,847.0000 SOL, worth $3.55 million, from OKX.
[PANews]
Today’s Market Pulse
Capital is rotating out of crypto spot ETFs amid rising interest rate expectations and geopolitical shifts, with both Bitcoin and Ethereum funds seeing significant outflows while traders position for volatility in traditional markets.
Key Themes
ETF Capital Rotation
What’s happening: Both Bitcoin and Ethereum spot ETFs experienced substantial net outflows yesterday, with Bitcoin ETFs seeing $649M in outflows (led by BlackRock’s $448M) and Ethereum ETFs seeing $86.3M in outflows. This marks the sixth consecutive day of outflows for Ethereum products.
Why it matters: The coordinated outflows across major crypto ETF products suggest institutional investors are reallocating capital amid rising interest rate expectations and changing market conditions. BlackRock’s products seeing the largest outflows indicates these flows may be coming from institutional rather than retail investors.
Near-term implication: Continued outflows could put downward pressure on spot prices in the near term, though the significant cumulative inflows ($57.7B for Bitcoin, $117.5B for Ethereum) provide a strong fundamental support level.
Macro Headwinds Intensify
What’s happening: Central banks globally are expected to continue raising rates according to HSBC, even if US-Iran tensions cool. Meanwhile, US 10-year Treasury yields have breached 4.5%, triggering Morgan Stanley’s equity “warning line” and signaling potential correction risk.
Why it matters: Rising yields increase opportunity costs for yield-sensitive assets like cryptocurrencies and could accelerate capital rotation from risk assets. The geopolitical cooling in the Middle East has already triggered a pullback in crude oil, affecting related derivatives markets.
Near-term implication: The higher-for-longer rate environment poses significant headwinds for crypto valuations, particularly for yield-generating products and leveraged positions. The 28% increase in Bitget’s oil contract open interest suggests traders are positioning for continued volatility across risk assets.
Institutional Adoption Accelerates
What’s happening: Despite spot ETF outflows, institutional adoption continues in adjacent sectors. The SEC is preparing tokenized stock rules as the onchain tokenized equity market tops $1.4B, while AI-driven financial markets gain traction with Asian stocks expected to benefit.
Why it matters: Tokenized equities represent a bridge between traditional finance and crypto infrastructure, attracting institutional capital. Meanwhile, AI’s integration with financial systems is creating new market dynamics that crypto projects may need to adapt to.
Near-term implication: The tokenized equity market’s 29.68% growth in 30 days suggests strong institutional interest in onchain financial products, potentially creating new opportunities for crypto markets as traditional assets increasingly tokenize.
RichSilo Verdict
Sophisticated investors should watch for rotation patterns between traditional and crypto markets, particularly monitoring how institutional flows respond to the Fed’s next moves. The tokenized equity market’s growth and AI integration with finance present structural opportunities, while the ETF outflows may create buying opportunities if they continue without fundamental deterioration in crypto adoption metrics. Monitor BlackRock’s IBIT and ETHA flows as key indicators of institutional sentiment, and watch the 10-year Treasury yield as a critical risk-on/off signal for crypto markets.
