Bitcoin and Ethereum ETFs Experience Continued Net Outflows, DeFi Concentration Increases

KuCoinFlash

Release Time: 05/16/2026 05:37:16

Summary

Concerns over DeFi exploits are rising as the top ten protocols captured 87% of holder income, led by Hyperliquid. Ethereum news shows continued pressure, with Ethereum spot ETFs recording a $65.65 million net outflow for the fifth consecutive day. Bitcoin spot ETFs also saw $290 million in outflows, with no inflows across all twelve funds. LayerZero is under scrutiny after multiple protocols moved away following the KelpDAO attack. Chainalysis traced the THORChain exploit to a source employing advanced laundering techniques. Bitdeer sold 198.3 BTC this week, maintaining a zero BTC position.

1. Bitcoin spot ETFs recorded a total net outflow of $290 million yesterday, with none of the twelve ETFs experiencing net inflows;

2. Ethereum spot ETFs recorded a total net outflow of $65.65 million yesterday, marking five consecutive days of net outflows;

3. DefiLlama: The top ten DeFi protocols over the past month accounted for 87% of holder income; Hyperliquid led the way;

4. Hyperliquid Co-founder: Has met with U.S. policymakers to discuss entering the U.S. market;

5. Following the KelpDAO attack, multiple protocols began migrating away from LayerZero;

6. Barclays: The market is perceived as a threat to other speculative investment instruments, with Gen Z showing strong interest in gamified investing;

7. SpaceX shareholders approved a 1-for-5 reverse stock split, adjusting the fair value per share to approximately $105.32;

8. Bitdeer currently maintains a zero position and sold 198.3 BTC this week;

9. Chainalysis traces the THORChain attack source: the attacker demonstrated advanced money laundering skills and moved funds across chains for weeks before launching the attack.

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