The U.S. Securities and Exchange Commission has delayed a plan that could have opened the door to trading tokenized versions of U.S. stocks. A Bloomberg report dated 22 May said internal concerns and industry pushback slowed the proposal, as the SEC continues weighing how crypto-based equity products fit within existing securities laws. Recent SEC guidance and remarks from Commissioner Hester Peirce indicate the sharper focus may be on synthetic stock-exposure products rather than tokenized equities tied directly to underlying shares.

On Thursday, spot bitcoin ETFs posted net outflows of $100.82 million, while ether ETFs recorded a $32.58 million decline for a ninth straight session. In contrast, XRP ETFs brought in $8.88 million led by Canary's XRPC, and Solana ETFs added $3.86 million via Fidelity's FSOL. Trading value totaled $1.58 billion for bitcoin ETFs and $416.16 million for ether ETFs, with net assets ending at $101.06 billion and $12.21 billion, respectively.

The current crypto upswing appears to be a narrative-led rotation rather than a broad bull market, with Bitcoin failing to hold above $80,000 and sliding to $77,000. Since May 19, $62.8 billion in inflows has favored a small set of altcoins while the wider market stayed range-bound. At press time, the Altcoin Season Index was 38, far below the level typically associated with an altcoin season.

IBM shares rose more than 14% since Thursday after the US Commerce Department outlined a $2 billion CHIPS and Science Act push to back US quantum computing manufacturers. The rally added about $26 billion to IBM’s market value, taking it to $237.8 billion, while the stock gained a further 2% on Friday. Under the plan, IBM is set to receive a $1 billion federal grant that it will match with $1 billion of its own capital to build a quantum chip foundry in Albany, New York.

U.S. Treasury yields climbed sharply this week, with the 10-year reaching levels not seen in over a year and the 30-year hitting its highest since 2007. The move has revived debate about whether Treasuries should be treated as “risk-free,” while some strategists say investors may want to focus on intermediate maturities and selective corporate bond segments.

Binance logged a 40.0644 million USDT net inflow over the past hour, indicating more USDT entered the exchange than left during that window. Such stablecoin inflows are often watched as a proxy for potential buying power, though the transfers could also relate to internal operations or liquidity activity. Traders typically look for follow-through across multiple hours and confirmation via spot volume before treating the signal as directional.

Strategy (NASDAQ: MSTR) drew fresh attention after insider transactions disclosed in May 19 SEC filings, including CFO Andrew Kang's sale of 5,597 shares priced between $163.98 and $166. Director Jarrod M. Patten also sold 5,250 shares at $165.87 to $167, following option exercises totaling $97,933 at $18.654 per share. MSTR was trading at $163 at the time of writing, after moving between $162.4 and $168.71 in the prior session.

South Korea's National Assembly finance committee is reviewing a petition with more than 52,000 signatures calling for the full repeal of the planned 22% cryptocurrency gains tax. The levy, set at 20% national income tax plus a 2% local charge, would apply to annual gains above about $1,665 and is currently scheduled to start on January 1, 2027 after three delays.