Overview
US spot Bitcoin ETFs recorded $11.64 million in net outflows, with BlackRock’s IBIT and Fidelity’s FBTC accounting for the entire daily withdrawal. Lido started transferring over 8 million ETH through its Curated Module V2 upgrade. BitMine purchased another 9,946 ETH, taking total holdings to 5.79 million ETH, while approximately 85% of its Ethereum portfolio is staked. The crypto market saw several major developments as spot Bitcoin ETFs recorded $11.6 million in net outflows, the CLARITY Act was delayed in the U.S. Senate, Lido migrated 8 million ETH, and BitMine expanded its already substantial Ethereum holdings.
Bitcoin ETFs Witness $11.6 Million in Outflows
According to SoSoValue, the Bitcoin spot ETFs saw a total net outflow of $11.64 million yesterday. The Bitcoin spot ETF with the highest net outflow yesterday was BlackRock’s IBIT, with a daily net outflow of $8.82 million. Its cumulative historical net inflow now stands at $60.39 billion. The second highest was Fidelity’s ETF FBTC, with a daily net outflow of $2.82 million, and the total historical net inflow of FBTC currently stands at $10 billion. The total net asset value of Bitcoin Spot ETFs is $78.71 billion, with an ETF net asset ratio of 6.04%. The historical cumulative net inflow has reached $51.37 billion.
Lido Moves 8 Million ETH
Lido started moving more than 8 million ETH, worth around $16 billion, onto a new set of validators on 27 July 2026. The migration runs through the protocol’s Curated Module V2 upgrade, which the Lido DAO ratified on 23 July 2026. Lido is the largest liquid staking protocol on Ethereum, where users deposit ether and receive a tradable staking token in return. The Curated Module handles more than 90% of the ether staked through Lido. The upgrade moves validators from the older 0x01 withdrawal standard to the newer 0x02 standard. A single 0x02 validator can hold up to 2,048 ETH, far above the previous limit of 32 ETH.
CLARITY Act Shelved Until September
Majority Leader John Thune told reporters he does not expect the Digital Asset Market CLARITY Act to reach a floor vote before the Senate’s summer recess begins around August 7. He reasons that the chamber is first working through federal nominations, then a Russia sanctions bill, a piece of legislation now dedicated to the memory of Senator Lindsey Graham, who died Monday. Graham’s funeral will occupy the Senate floor Tuesday and Wednesday. The sequencing matters because the Senate’s closure process handles one bill at a time. Moving nominations, then Russia sanctions, then clearing the procedural steps for each, uses up days the chamber does not have before recess. “The leadership would have to see where the votes are,” Thune said.
Apple Faces $1.8 Million Fake Crypto App Lawsuit
James Ramirez, Christopher Ellis and Jalen Delgado filed the 54-page complaint on July 24 in the US District Court for the Northern District of California. The allegations have not been tested in court, and Apple has not yet filed a public response in the case. The public docket identifies the action as Ramirez et al. v. Apple Inc., case 5:26-cv-07713. It currently shows the complaint, a civil cover sheet and an unexecuted summons filing. The complaint says Delgado downloaded a spoof application around May 1, 2025, and lost about $120,000. Ramirez allegedly downloaded another on July 25 and lost 7.4 BTC, valued at around $875,000. Ellis allegedly lost about $840,000 after using the app around August 3. Each user says the software requested a wallet seed phrase before transferring Bitcoin to attacker-controlled addresses.
BitMine Adds 9,946 ETH
According to an official announcement, on July 27, BitMine increased its ETH holdings by 9,946 ETH and simultaneously repurchased 6.1 million common shares. BitMine’s total Ethereum holdings reached 5,787,414 ETH, accounting for approximately 4.8% of the total ETH supply. Currently, BitMine holds a total value of approximately $11.8 billion in cryptocurrencies, cash, and other investment assets, including $268 million in cash and marketable securities, 208 BTC, $180 million in equity assets from Beast Industries, and a $61 million investment in Eightco Holdings (ORBS). The amount of ETH staked is 4,917,189, accounting for 85% of the total holdings, with a value of approximately $9.6 billion and an annualized staking yield of about $254 million.
FAQs
How much did Bitcoin spot ETFs lose in daily outflows?
According to SoSoValue, US spot Bitcoin ETFs recorded a combined net outflow of $11.64 million. BlackRock’s IBIT accounted for $8.82 million, while Fidelity’s FBTC saw $2.82 million leave the fund.
Why is Lido moving more than 8 million ETH?
Lido is migrating ETH under its Curated Module V2 upgrade to reduce network load and improve validator efficiency. The transition replaces the older 0x01 withdrawal standard with the newer 0x02 format.
How much Ethereum does BitMine currently hold?
BitMine’s Ethereum holdings reached 5,787,414 ETH after it added another 9,946 ETH. According to the announcement, this represents approximately 4.8% of Ethereum’s total supply.
Why has the CLARITY Act vote been delayed?
Senate Majority Leader John Thune indicated that other legislative priorities and procedural requirements would consume the remaining time before the summer recess. The bill is therefore unlikely to receive a floor vote before September.
What is the lawsuit against Apple about?
Three plaintiffs allege that fraudulent crypto applications downloaded through Apple’s platform stole wallet credentials and digital assets. The complaint seeks damages linked to reported combined losses of around $1.8 million.
Disclaimer: This article is provided for informational purposes and does not constitute investment advice. You are responsible for conducting your own research (DYOR) before making any investments. Cryptocurrencies are risky and may lead to financial loss.
