On Thursday, U.S. lawmakers introduced the American Reserve Modernization Act (ARMA) of 2026 to create a Treasury-run Strategic Bitcoin Reserve and a separate federal Digital Asset Stockpile for non-Bitcoin holdings. The proposal would consolidate custody of seized crypto and, citing Bitcoin Treasuries data, formalize management of 328,372 BTC valued at more than $25 billion while requiring BTC in the reserve to be held for at least 20 years.

Glassnode says 6.04 million BTC—30.2% of circulating supply—sits in wallets whose public keys have already been revealed after spending, a setup that concentrates potential quantum-related risk in large custodians. The dataset indicates exchanges hold about 1.66 million exposed BTC, while exposure varies widely by entity, from Binance's 85% to Coinbase's 5% of labeled balances.

XRP is seeing stronger institutional and on-chain signals, but its spot price remains under pressure amid broader market consolidation. Over the past 24 hours, XRP fell more than 5% to $1.40 after briefly topping $1.54 for the first time in two months. The divergence shows up in ETF inflows, large Binance withdrawals, and a two-month high in XRPL activity.

US-listed spot Bitcoin ETFs recorded a $1 billion net outflow over the past week, ending a six-week stretch of inflows and equating to roughly 14,000 BTC leaving the funds. Bitcoin fell about 3% over the same period to $78,074 at press time as markets digested hotter inflation readings and shifting expectations around Fed policy.

Bitcoin broke below $80,000 after hotter-than-expected US inflation data and briefly dipped to $78,725 before rebounding to around $79,500. The move has concentrated leverage near $78,000, where a further drop could trigger about $1 billion in long liquidations, while a rebound toward $80,458 could put roughly $640 million of shorts at risk. Spot demand indicators have softened alongside reported spot Bitcoin ETF outflows of more than $800 million this week.

Bitcoin is trading just under $80,000 as President Donald Trump arrives in Beijing for talks with Chinese leader Xi Jinping, with traders treating the summit as a key risk-sentiment catalyst in a week already pressured by inflation and rising yields. April data showed CPI at 3.8% year over year and PPI at 6% year over year, while Wintermute flagged a leverage-led move as open interest rose from $48 billion to $58 billion in a month. BTC was down 1.42% over the past 24 hours at the time of publication.

Morgan Stanley's spot Bitcoin ETF, the Morgan Stanley Bitcoin Trust (MSBT), finished its first trading month with no daily net outflows after launching on April 8. The fund has taken in about $193 million in net inflows and manages over $240 million in assets, while US spot Bitcoin ETFs collectively attracted more than $3 billion across six straight weeks of net inflows through May 8.

BlackRock submitted May 8 paperwork to the SEC seeking to launch two tokenized money market funds, including a blockchain share class for the $6.1 billion BSTBL treasury fund and a new vehicle called BRSRV. The tokenized BSTBL class is slated for Ethereum, while BRSRV is designed for multi-chain deployment and targets short-term US government obligations.

The Senate Banking Committee is scheduled to mark up the CLARITY Act on May 14, opening a public amendment process for the long-stalled crypto market-structure proposal. The session will test whether a negotiated stablecoin-rewards compromise can withstand pressure from banking groups, crypto firms, and Democrats pushing for tougher ethics provisions.