21Shares’ new Hyperliquid ETF pulled more than $5 million in inflows within days of launch and generated $8 million in trading volume Thursday alone.

Strong Early Demand Signals Appetite For Always-On Trading

Eli Ndinga, global head of research at 21Shares, explained that Hyperliquid’s appeal comes from letting traders access crypto, oil, silver, and gold markets around the clock. 

The firm previously launched a Hyperliquid product in Europe before bringing the strategy to U.S. investors. The ETF follows Hyperliquid Strategies Inc (NASDAQ:PURR) as a way of getting exposure to HYPE.

Trading activity during recent geopolitical tensions involving Iran demonstrated the platform’s value. 

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Senator Elizabeth Warren (D-Mass.) on Tuesday questioned the Office of the Comptroller of the Currency letting nine crypto firms operate as banks without proper safeguards.

Warren Questions OCC Approval Of Nine Crypto Trust Charters

“These companies are effectively crypto banks that want to evade the fundamental safeguards and obligations that come with being a bank,” Warren wrote. 

She argued the OCC’s decision to facilitate this regulatory arbitrage conflicts with federal law and poses serious risks to consumers and the banking system.

The OCC has granted trust charters to crypto firms as the agency embraced President Donald Trump‘s agenda to elevate the crypto sector and…

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Bitcoin Bottomed At $60,000 On Peak Bearish Sentiment

Maeda pointed to the Fear and Greed Index hitting the lowest reading in crypto’s history last month at $66,000 Bitcoin—lower than the 3AC collapse, Luna crash, or COVID crash.

“We hit the lowest fear and greed rating in the history of crypto’s existence last month at 66,000,” Maeda stated. 

He argued that sellers ran out of tokens after months of liquidations and capitulation.

Michael Saylor’s aggressive Bitcoin purchases through Strategy Inc. (NASDAQ:MSTR) provided the catalyst.

Saylor bought $1.5 billion in March, $3.5 billion in April, and $2 billion in May, creating a positive reflexive loop where higher prices attract…

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• Bakkt stock is charging ahead with explosive momentum. What’s driving BKKT stock higher?

Insider Buying Boosts Investor Sentiment

SEC filings showed Director Michael Alfred, through Alpine Fox LP, purchased about 585,000 shares between May 15 and May 18 at weighted-average prices of $8.34 and $8.20 per share, increasing his indirect holdings to 625,000 shares.

CEO Akshay Sudhir Naheta also exercised 33,557 committed stock options on May 15 at $10 per share under a Rule 10b5-1 trading plan.

Intercontinental Exchange remains Bakkt’s largest shareholder, with approximately a 19.8% stake.

Quarterly Results Miss Expectations

Earlier this month, Bakkt reported first-quarter revenue of…

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First-Quarter Revenue And Earnings Weaken

First-quarter revenue declined to $62.69 million from $82.8 million a year earlier, although it slightly topped analyst estimates of $61.35 million. The company reported a quarterly loss of 13 cents per share, wider than analysts’ expectations for a loss of 7 cents per share.

Gross Loss Widens Amid Market Pressure

Canaan posted a gross loss of $22.9 million for the quarter, compared with a gross profit of $646,000 a year earlier. Net loss widened to $88.7 million from $86.4 million in the prior-year period.

As of March 31, 2026, the company held cryptocurrency assets with a fair value of $66.2 million, including 802.6 Bitcoins owned by the company…

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Investors Rotating Into Selective Altcoin Exposure

CoinShares Head of Research James Butterfill noted that investors are looking past Bitcoin and Ethereum for selective exposure. 

The divergence comes as XRP held up better than Ethereum during the recent selloff, down 5.1% over the past week compared with Ethereum’s 7.4% drop.

Goldman Sachs Dumped All XRP And Solana ETF Holdings

Goldman also dumped the entirety of its holdings in Bitwise Solana Staking ETF (NYSE:BSOL), Fidelity Solana Fund, Grayscale Solana Trust ETF, VanEck Solana ETF, Franklin Solana ETF, and 21Shares Solana ETF.

The firm maintained Bitcoin and Ethereum exposure with reduced stakes. Goldman reported holding 17.985…

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