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BTC $75,925.14 -1.75%
ETH $2,074.40 -1.64%
BNB $656.24 -0.78%
XRP $1.33 -1.61%
SOL $83.79 -1.78%
TRX $0.3747 +0.90%
DOGE $0.1009 -1.25%
ADA $0.2403 -1.79%
BCH $345.38 -1.57%
LINK $9.39 -1.30%
HYPE $59.15 -3.63%
AAVE $86.42 -0.23%
SUI $1.00 -4.03%
XLM $0.1472 -1.61%
ZEC $589.14 -9.49%

loss

Trump Media transferred 2,650 BTC to Crypto.com, with a Q1 loss of $405.9 million. Bitcoin spot ETFs saw a net outflow of over $2.26 billion in two weeks, and IBIT holdings decreased to about 800,000 coins

According to BBX data, corporate Bitcoin reserves are under pressure, intertwined with the continuous outflow of ETF funds, leading to an overall cautious sentiment in crypto concept stocks. The core dynamics are as follows:Trump Media & Technology Group, Corp. (NASDAQ: $DJT) transferred 2,650 BTC (approximately $205 million) to a Crypto.com exchange address on May 22. The company's official statement described this as a "transfer rather than a sale," part of an expanded trading strategy, but the actual disposal method remains to be confirmed as of the report deadline. On-chain data shows that the funds have arrived at the Crypto.com exchange address. Previously, the company transferred 2,000 BTC (approximately $175 million) to Crypto.com about four months ago. The Q1 2026 financial report (May 9, CoinDesk) indicates that as of March 31, the company held 9,542.16 BTC (with a fair value of $647.1 million, and a purchase cost of approximately $1.13 billion); after this transfer of 2,650 BTC, Arkham's on-chain estimate of the remaining holdings is about 6,889 BTC (approximately $532 million). The Q1 financial report also disclosed a net loss of $405.9 million (compared to a loss of $31.7 million in the same period last year) and revenue of only $871,200. The company originally purchased 11,542 BTC at an average price of about $118,522, with a total purchase cost of approximately $1.37 billion, and the current holdings are still significantly discounted compared to the cost; during the same period, the company withdrew its ETF applications for Bitcoin, Ethereum, and Solana from Truth Social.The U.S. Bitcoin spot ETF recorded over $2.26 billion in net outflows in the two weeks ending May 23, ending a streak of seven consecutive weeks of net inflows. During this period, Bitcoin fell from about $82,500 (the recent high on May 6) to $74,305 (on May 23), a decline of about 10%, marking the lowest point since April 20. The iShares Bitcoin Trust (NASDAQ: $IBIT) under BlackRock, Inc. (NYSE: $BLK) has seen its holdings decrease from a peak of about 812,000 BTC to about 800,000 BTC, still accounting for approximately 62% of total assets in U.S. Bitcoin spot ETFs. CoinDesk analysts attribute this round of outflows to high U.S. Treasury yields (with the 10-year yield touching 5.01%) and systemic deleveraging driven by geopolitical pressures, rather than a weakening belief in Bitcoin's long-term logic.

Bitcoin ETFs faced a capital crunch, with withdrawals of $1.26 billion in a single week, while Ethereum ETFs have seen losses for 10 consecutive days

The U.S. spot Bitcoin ETF recorded a net outflow of approximately $1.26 billion this week, marking the largest single-week capital outflow since late January of this year, and has seen net redemptions for six consecutive trading days. Data shows that this type of product saw an outflow of about $649 million just on Monday. Although there was some easing in the following days, the overall trend of continuous outflow remained. Market participants pointed out that the recent rise in U.S. Treasury yields, the strengthening of the dollar, and geopolitical tensions are among the main reasons for the capital withdrawal.At the same time, Ethereum ETFs are also under pressure, experiencing net outflows for 10 consecutive trading days, the longest outflow period since March 2025. The total outflow for the week was approximately $216 million. Among them, BlackRock's iShares Bitcoin Trust (IBIT) currently manages assets of about $61.1 billion, but this is still below the cumulative capital inflow of about $3.7 billion, indicating that recent market price fluctuations have impacted the value of holdings. As of the ETF trading day's close, the Bitcoin price was around $77,500, and Ethereum was about $2,130, maintaining a narrow range of fluctuations overall. Despite the significant short-term capital outflow, the spot Bitcoin ETF has still seen a cumulative net inflow of about $57.1 billion since its launch, with an asset scale of approximately $98.9 billion.
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