Bitcoin Bleeds as ETF Outflows Spike — Kraken Files for IPO & Washington Turns Up the Heat

Today’s Daily Crypto Roundup breaks down one of the busiest days we’ve seen in weeks. Bitcoin slips back under the $90,000 level, extending its deepest drawdown since 2017 as leverage finally flushes from the system. ETF flows turn sharply negative, with BlackRock’s IBIT posting its largest-ever single-day outflow — more than $523 million pulled in 24 hours.

At the same time, Kraken has quietly filed for a U.S. IPO, aiming for a 2026 listing that could reshape how crypto companies interact with public markets. In Washington, Trump’s nominee to lead the CFTC faces tough questioning from senators, with major implications for how Bitcoin, Ethereum, and other spot-market assets may be regulated going forward.

We also look at why analysts think the reopening of the U.S. government could set off a new wave of crypto ETF approvals, potentially the biggest expansion of regulated crypto products since the launch of spot Bitcoin ETFs.

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