In recent crypto news, Bitcoin ETFs saw significant outflows, totaling $812 million, marking the second-largest single-day loss for these products. This drop led to a decrease in cumulative net inflows to $54.18 billion, and total assets under management fell to $146.48 billion. Fidelity's FBTC and ARK Invest's ARKB led the withdrawals, contributing $331.42 million and $327.93 million, respectively. In contrast, Ether ETFs ended their 20-day inflow streak with a $152.26 million outflow, leaving total assets at $20.11 billion. Additionally, cryptocurrency exchange Gate launched spot trading services for US customers, citing improved regulatory clarity as a key factor. Spot trading volume reached $6.8 billion recently. Furthermore, venture capital firm Andreessen Horowitz expressed concerns over a draft crypto regulation bill, warning it could create loopholes and undermine investor protections. They urged for a revision to the definition of ancillary assets in the proposed legislation, emphasizing that the current framework does not adequately address the needs of crypto markets and conflicts with established regulatory tests.

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