XRP Price Forecast: Ripple’s Open Interest Sheds $520M as XRP/ETH Hits One-Month Low

Crypto inflows extended their streak of positive flows last week, with total inflows over the past three weeks reaching $5.5 billion.

It comes amid growing optimism in the market, with macroeconomic data adding to the list of tailwinds for the pioneer crypto.

Crypto Inflows Reached $2 Billion Last Week

The latest CoinShares report indicates that crypto inflows reached $2 billion last week, marking the third consecutive stream of positive flows.

The week prior, crypto inflows reached $3.4 billion as investors turned to digital assets for their haven status.  Before that, inflows into digital asset investment products were $146 million, where XRP bucked the trend.

Last week, however, Bitcoin was the prime beneficiary, recording up to $1.8 billion in inflows. Similarly, Ethereum saw the second week of solid inflows reaching $149 million. Meanwhile, peers such as Solana saw minor inflows of $6 million.

CoinShares cites optimism in the market despite Trump’s tariffs, ascribing the bullish sentiment to positive US economic indicators last week.

Specifically, markets closed the week optimistically, driven by strong employment data despite earlier weak GDP figures. Headline GDP fell 0.3%, impacted by export declines due to US tariffs. However, core GDP, reflecting private sector strength, rose 3.0%.

In part, CoinShares’ researcher James Butterfill ascribes this to businesses preempting tariffs. Futures markets now expect 86 basis points (bps) of rate cuts in 2025, though strong payrolls (177k vs. 135k expected) and elevated core PCE inflation reduce the likelihood of an FOMC rate cut on Wednesday.

“We believe the current data is likely insufficient to prompt the Federal Open Market Committee (FOMC) to cut rates at next Wednesday’s meeting,” wrote Butterfill.

Services inflation shows weakness, suggesting cautious consumer behavior. Equities and Bitcoin remain sensitive to tariff developments, with employers delaying job cuts.

Against these backdrops, digital asset investment products continue to register positive sentiment, with Bitcoin’s momentum looking positive, particularly in the US.

“Our latest Digital Asset Manager Fund Survey reflects this evolving sentiment: investor preference for Bitcoin has strengthened post-U.S. election, with 63% of respondents now holding it—a 15 percentage point increase since January. Digital asset weightings have risen to 1.8%, the highest level in a year, driven by both price appreciation and improving sentiment. Institutional allocations have climbed to an average of 2.5%,” Butterfill explained.

Yet, despite Bitcoin’s improving sentiment, CoinShares highlights that both new and seasoned investors continue to cite volatility as their top concern.

According to Butterfill, this highlights a persistent disconnect between perceived risk and actual market behavior.

BeInCrypto data shows BTC was trading for $93,997 as of this writing. It was down by almost 2% in the last 24 hours, having slipped below the $94,000 range on Monday.

The post Market Shrugs Off Trump Tariffs With $2 Billion Crypto Inflows appeared first on BeInCrypto.

Arizona Governor Katie Hobbs has vetoed Senate Bill 1025, which would have authorized the state to create a Bitcoin reserve.

The decision, made on May 2, marks the first time a sitting US governor has rejected a state-backed strategic Bitcoin reserve (SBR) initiative, despite growing interest in such measures across several states.

Arizona’s Bitcoin Reserve Bill Vetoed Despite Bipartisan Support

In a letter to Senate President Warren Petersen, Hobbs emphasized that the Arizona State Retirement System (ASRS) must continue to prioritize stable, well-vetted investments.

She described virtual currencies as “untested” and unsuitable for the retirement savings of Arizona residents.

“The Arizona State Retirement System is one of the strongest in the nation because it makes sound and informed investments. Arizonans’ retirement funds are not the place for the state to try untested investments like virtual currencу,” the governor stated.

Governor Hobbs’ stance reflects the broader skepticism within the Democratic Party toward crypto integration in state financial systems.

It also follows shortly after Arizona’s legislature made history as the first in the US to pass an SBR bill in both chambers—garnering bipartisan support.

Meanwhile, Senate Bill 1025 was one of two digital asset-related proposals forwarded to Hobbs’ desk this session.

The second, Senate Bill 1373, would give Arizona the authority to retain cryptocurrencies obtained through legal seizures. It would also empower the state treasurer to lend these assets to generate additional income.

The status of this bill remains unclear in the wake of Hobbs’ opposition to SB 1025.

Arizona now joins a group of states—including Oklahoma, Montana, North Dakota, and Wyoming—where efforts to formalize Bitcoin reserves have stalled or failed.

Nonetheless, momentum continues elsewhere. New Hampshire is nearing a potential breakthrough, with its SBR proposal advancing past committee review and now awaiting a full vote in the second legislative chamber. If approved, it will proceed to the governor for final consideration.

At the national level, Senator Cynthia Lummis has welcomed recent support from President Donald Trump for her plan to establish a federal Bitcoin reserve.

“The BITCOIN Act is the only solution to our nation’s $36T debt. I’m grateful for a forward-thinking president who not only recognizes this, but acts on it,” Lummis stated.

Lummis is pushing the BITCOIN Act bill, which will allow the US to acquire up to 1 million BTC over five years. The lawmaker claims such a move would help stabilize US fiscal policy and enhance the nation’s role in global financial innovation.

The post Arizona Bitcoin Reserve Bill Fails As Governor Vetoes Proposal appeared first on BeInCrypto.