Live markets: Bitcoin slides further, putting two-month winning streak in jeopardy
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Key takeaways
- 1SoFi stock rose 7% Friday after launching SoFiUSD stablecoin to 15 million users.
- 2SoFi became first U.S. national bank offering stablecoin directly to retail customers on public blockchain.
- 3SOFI stock up 15% past week but down 34% year-to-date, trading at $18.01.
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Why it matters
Traditional finance entering stablecoin space signals mainstream crypto adoption and regulatory acceptance in U.S., potentially opening similar opportunities for Indian fintech players and signaling RBI's future policy direction on digital rupee and blockchain payments.
Explore how Stablecoins is shaping crypto markets — aggregated stories, leading coins, and weekly momentum.
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Bitcoin spot ETFs experienced a record nine-day outflow streak totaling $2.84 billion, with BlackRock's IBIT fund accounting for $2.04 billion in withdrawals. This marks the longest selloff since ETF launch in 2024, signaling weakening institutional demand. Meanwhile, newer altcoin ETFs like Hyperliquid's HYPE attracted over $100 million in inflows, reflecting investor rotation away from Bitcoin exposure.