Institutional

Illustration of collapsing Bitcoin ETF blocks and a red downward trend line representing $331 million in ETF outflows led by BlackRock’s IBIT fund.

BlackRock Leads $331M Bitcoin ETF Outflow as Altcoin Funds Buck the Trend

Spot Bitcoin ETFs lost another $331 million on Tuesday, with BlackRock's IBIT accounting for $325.58M of the outflow. Solana and XRP ETFs continued to attract inflows, signalling a clear rotation rather than a broad exit from crypto.

By Afshan Rasheed • May 20, 2026 • 3 min

Illustration showing Payward Q1 revenue data with rising and falling arrows around a central dashboard.

Institutional Market Analysis

Kraken Parent Payward Q1 Revenue Hits $507M: Full Data Report

Payward, Kraken's parent, reported Q1 2026 revenue of $507 million, up 3% year on year, while Bitcoin fell 22% and sector spot volume dropped 38%. Futures growth and acquisitions did the work.

By Sonia Paganuzzi • May 19, 2026 • 3 min

Metaplanet’s preferred share structure would give investors Bitcoin-linked exposure through a new Japanese public market vehicle.

Institutional Tokenization

Metaplanet to Launch Japan's First Bitcoin Preferred Shares: $3.7B Plan

Metaplanet is preparing to launch what would be Japan's first Bitcoin-backed perpetual preferred shares, with monthly dividends and a 555 billion yen ceiling. CEO Simon Gerovich has flagged the regulatory work required to get the product live.

By Samson Mackeown • May 17, 2026 • 3 min

Abstract financial graphic showing “$3.8B” and “113% up” figures above “$60M losses” with rising market charts.

Bitcoin Institutional Stablecoins

BitGo Q1 Earnings: $3.8B Revenue Up 113% Amid $60M Net Loss

BitGo doubled its revenue to $3.8 billion in Q1 2026 in its first quarterly earnings since going public in January. Net losses also more than doubled to $60.7 million on Bitcoin treasury markdowns and IPO-related compensation costs.

By Shoaib Ali • May 15, 2026 • 3 min

Abstract illustration featuring JPMorgan and Ethereum symbols with digital blocks and glitch-style financial graphics.

Tokenization Ethereum Institutional

JPMorgan Files for Second Tokenized Treasury Fund JLTXX on Ethereum

JPMorgan has filed with the SEC to launch JLTXX, a tokenized money market fund on Ethereum designed to back stablecoin reserves under the GENIUS Act. It is the bank's second tokenized fund on the network after MONY launched in December.

By Sonia Paganuzzi • May 15, 2026 • 3 min

Prediction Markets Institutional

Kalshi Hits $22B Valuation After $1B Coatue-Led Raise

Kalshi has raised $1 billion at a $22 billion valuation, giving the prediction market platform fresh capital to build out block trading, risk products and institutional brokerage integrations.

By Matthew Curtis • May 10, 2026 • 2 min

Glitch-style illustration of a Japanese torii gate surrounded by neon yen symbols, tokenized data streams, and blockchain graphics representing Japan’s digital bond market infrastructure.

Tokenization Institutional RWAs

Institutional Tokenization: Japan's $7.5T JGB Pilot and Ripple's 5-Second Settlement

Japan's biggest banks have launched a blockchain proof of concept for government bond collateral, as a separate pilot settled a tokenized US Treasury redemption across borders in under five seconds. Sovereign debt is moving on-chain.

By Sonia Paganuzzi • May 08, 2026 • 4 min

Stylized glitch graphic of a classical financial monument beside floating cash and stacked digital asset cubes labeled USCC, symbolizing Bitwise’s expansion into tokenized real-world assets.

Tokenization RWAs Institutional

Bitwise Enters Tokenized RWA Market With $267M USCC Acquisition

Bitwise is taking over Superstate’s $267 million USCC fund, giving the crypto asset manager an immediate foothold in tokenized funds as institutional RWA products move beyond Treasuries.

By Afshan Rasheed • May 08, 2026 • 3 min

Stylized glitch graphic of a digital bank vault connected by glowing data streams to an Abu Dhabi skyline beneath pink clouds, representing BNY’s crypto custody expansion into the UAE.

Institutional UAE

BNY Crypto Custody Launch: $59T Bank Enters Abu Dhabi Market

BNY, the world's largest custodian bank, has launched regulated Bitcoin and Ether custody services in Abu Dhabi Global Market through partnerships with Finstreet and ADI Foundation, with stablecoins and tokenized assets to follow.

By Sonia Paganuzzi • May 07, 2026 • 3 min

Stylized map of the U.S. connected by blockchain nodes and network lines, with a central chip, representing tokenized capital markets going on-chain.

Tokenization Institutional RWAs

DTCC Assembles 50-Firm Working Group to Put US Capital Markets On-Chain by October

The DTCC has assembled more than 50 firms including BlackRock, Goldman Sachs, JPMorgan and Ondo Finance to design tokenization standards for US capital markets, with limited live production trades planned for July 2026 and a full commercial launch in October.

By Samson Mackeown • May 05, 2026 • 4 min

Stacked tokenized coins with a glowing orbit, representing the rise of tokenization and a new supercycle in digital assets.

Tokenization Institutional

Robinhood CEO Says a Tokenization 'Supercycle' Has Already Begun

Robinhood CEO Vlad Tenev used the company's Q1 earnings call to declare a tokenization supercycle underway, saying he wants to move away from talking about Bitcoin's price and focus instead on blockchain infrastructure for real-world assets.

By Samson Mackeown • May 04, 2026 • 3 min

Stylized glitch-art city with stacked blocks and a rising chart, symbolizing rapid growth of tokenized real-world assets surpassing $30B.

Tokenization RWAs Institutional

Tokenized RWA Market Hits $30B: 420% Growth Since 2025 Report

The tokenized real-world asset market has surpassed $30 billion, up more than 420% since January 2025, as regulatory clarity, institutional demand and the success of BlackRock's BUIDL fund turn blockchain rails into a serious distribution layer for traditional finance.

By Sonia Paganuzzi • May 03, 2026 • 4 min