Bitcoin ETF Faces 'Redemption Pressure': $1.26 Billion Withdrawn in a Single Week, Ethereum ETF Sees Outflows for 10 Consecutive Days
US Spot Bitcoin ETFs posted a weekly net outflow of roughly $1.26 billion in the week ending May 23, marking their largest weekly pullback since late January and six consecutive trading days of net redemptions.
Data shows $649 million flowed out just on Monday, with outflows moderating in subsequent days but remaining consistent overall. Market participants pointed to three key drivers: rising U.S. Treasury yields, a stronger U.S. dollar, and geopolitical tensions.
U.S. Spot Ethereum ETFs also faced pressure this week, logging 10 straight days of net outflows—their longest stretch since March 2025—for a total weekly outflow of approximately $216 million.
BlackRock’s iShares Bitcoin Trust (IBIT) manages about $61.1 billion in assets, though this figure trails the fund’s cumulative inflows of roughly $3.7 billion, signaling recent market price volatility has impacted its holding value.
As of the close of ETF trading for the period, Bitcoin traded around $77,500 and Ethereum at approx
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Iran: Working to Finalize MoU, Negotiation Focus on Ending the War
May 23 — Iranian Foreign Ministry spokesperson Baghaei told the Islamic Republic of Iran Broadcasting in a May 23 interview that current negotiations are centered on ending what Tehran calls the "imposed war" instead of focusing on the nuclear issue for now. The U.S. and Iran are working to finalize a memorandum of understanding.
Baghaei noted that ongoing talks do not cover nuclear issues or specific details about lifting sanctions. Still, Iran’s demands for sanctions relief — particularly the release of frozen Iranian assets — are clearly laid out in the 14-point memorandum of understanding. He added Iran is temporarily avoiding nuclear discussions because Tehran believes the nuclear issue has twice been used as an excuse to wage wars against the country.
Right now, Iran’s priority is ending conflicts across all fronts, including in Lebanon. Nuclear negotiations could resume later, possibly within the next 30 to 60 days, Baghaei said.
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Iranian President: Israel is the only entity trying to pursue its interests by instigating a war
May 23 (local time): During a meeting with Pakistan’s Chief of Army Staff General Bajwa, Iranian President Ebrahim Raisi said Iran has proven in practice its compliance with the international legal framework.
Raisi stated, “We are only seeking to restore the legitimate and just rights of our country and our people. However, our history and experience from past negotiations with the Americans urge us to exercise the utmost caution and prudence.”
The Iranian leader added that the U.S. will not emerge victorious in this conflict, and regional nations—even the entire world—will suffer severe losses. He also noted that the Israeli regime is the only entity working to advance its regional interests by provoking war.
Pakistan’s Army Chief General Bajwa commented that the current negotiation process is progressing smoothly. “Israel’s interests are rooted in conflicts and divisions among Muslims in the region,” he said. “It holds deep animosity toward anyone striving to de-escalate con
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Iran will commit in the Memorandum of Understanding not to develop nuclear weapons but will request to retain limited uranium enrichment rights
On May 23, Saudi news outlet Al Hadath reported that Iran has proposed keeping its uranium enrichment level below 3.6% over the next 10 years and offered to cut its domestic stockpile of enriched uranium by more than 20%.
Iran has reaffirmed its commitment under the Joint Comprehensive Plan of Action (JCPOA) to refrain from developing nuclear weapons, and has requested to retain limited uranium enrichment rights in any future nuclear agreement.
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Analysis: Hyperliquid to Lead Next Meme Coin Rally with AI Token
Cryptocurrency trader Michael van de Poppe told CoinDesk in a May 23 interview that the crypto market’s risk appetite is climbing right now—and Hyperliquid’s strong performance, paired with a resurgence in AI-related crypto assets, could signal the start of the next altcoin season.
Van de Poppe noted HYPE recently hit a new all-time high, driven in part by the U.S. launch of Hyperliquid-linked ETFs plus European traders shifting their perpetual contract trading to the platform. He added that Hyperliquid’s expansion into tokenized stocks, commodities, and pre-IPO assets is accelerating the adoption of on-chain assets across the crypto space.
That said, he pointed out Solana is a more attractive long-term investment than Hyperliquid, thanks to its transition from a retail-led ecosystem to institutional-grade infrastructure.
When it comes to the AI race, Van de Poppe highlighted NEAR Protocol and Bittensor remain deeply undervalued, even as their ecosystems keep growing. Their valuatio
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