Bitcoin ETF Demand Wavers Despite Policy Win
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The Senate Banking Committee advanced the Digital Asset Market Clarity Act (H.R. 3633) with a 15-9 vote on May 14, marking a significant regulatory milestone. The bill, which now heads to the Senate floor, aims to provide clearer market structure for digital assets. Bitcoin briefly reclaimed $81,000 following the news, yet the headline rally masked underlying weakness in ETF demand. Despite the positive policy signal, spot Bitcoin ETFs saw net outflows of $150 million on the same day, suggesting institutional investors remain cautious amid broader macroeconomic uncertainty. The divergence between regulatory progress and capital flows highlights a market still grappling with risk-off sentiment, as traders weigh the impact of persistent inflation and hawkish Fed commentary. While the CLARITY Act represents a clear win for the crypto industry, near-term price action may remain subdued until ETF demand recovers.
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