US spot Bitcoin ETFs see $630M inflows amid progress on crypto regulations and market reforms.

US spot Bitcoin ETFs attracted $630 million in net inflows on May 1, led by BlackRock and Fidelity, signaling strong institutional demand. Spot Ethereum ETFs also saw $101 million inflows. Regulatory progress includes potential legalization of crypto perpetual futures by the CFTC and a compromise on the CLARITY Act, which could advance crypto market structure reforms. These developments may boost onshore liquidity and reshape the crypto trading landscape, while stablecoin issuance and sanctions risks remain key factors to watch.