Axe Compute (NASDAQ: AGPU) has announced a $260 million enterprise-level contract with Aethir, a global distributed GPU infrastructure provider. According to Odaily, Axe Compute has confirmed receipt of an initial payment of $43 million under the contract. Aethir has commenced the delivery process for 2,304 NVIDIA B300 GPU clusters, with a target launch date set for the third quarter of 2026. The contract is structured over 36 months with a fixed payment agreement, and it is expected to generate approximately $21 million in revenue per quarter once operational.

US-listed spot Bitcoin ETFs have recorded nine consecutive days of net outflows — the longest outflow streak since the products launched in January 2024 — with cumulative withdrawals reaching $2.84 billion and BlackRock's iShares Bitcoin Trust accounting for more than $2 billion of that total. The streak surpasses the previous record of eight consecutive outflow sessions set in February 2025, though its cumulative dollar total remains below the $3.2 billion lost during that earlier selloff.Thursday's session added another $223 million in net outflows, extending a streak that began on May 15 — the same week Bitcoin failed to break above its 200-day moving average at $83,000 and began its retreat toward current levels near $73,000.BlackRock's IBIT: $2.04 billion out in nine daysBlackRock's iShares Bitcoin Trust has dominated the outflow figures, recording approximately $2.04 billion in cumulative net redemptions between May 15 and Thursday. The fund's single worst session during the streak came on May 27, when $527.8 million exited in a single day — IBIT's second-largest daily outflow on record, missing the all-time record of $528.3 million set on January 30, 2025 by less than half a million dollars.Despite the unprecedented outflow pressure, IBIT retains its dominant position in the US spot Bitcoin ETF market. The fund held approximately 792,000 BTC as of Wednesday's market close — representing roughly 62% of all US spot Bitcoin ETF holdings according to Wallet Pilot data. The concentration of Bitcoin ETF market share in IBIT means that its outflows carry outsized market impact relative to redemptions from smaller competing funds.Ethereum ETFs: 13 consecutive days of outflows, $694 million lostThe outflow pressure is not limited to Bitcoin. US spot Ethereum ETFs logged 13 consecutive days of outflows between May 11 and Thursday, with cumulative losses of approximately $694 million. Ethereum broke below $2,000 for the first time since March during the streak, with record short open interest of 16.39 million ETH worth $32.5 billion signaling that institutional bearish positioning has intensified rather than moderated as prices have declined.The simultaneous nine-day Bitcoin ETF streak and 13-day Ethereum ETF streak represent the most sustained period of institutional selling across both major crypto ETF categories since the products launched — a signal that goes beyond tactical de-risking and raises questions about whether a deeper structural reassessment of crypto ETF allocations is underway among institutional investors.The rotation: altcoin ETFs attract while BTC and ETH bleedThe divergence in ETF flows reveals a selective rather than categorical institutional retreat from crypto. While Bitcoin and Ethereum ETFs face record outflow pressure, newer products tied to alternative tokens are attracting capital. Spot XRP ETFs recorded approximately $120 million in net inflows between May 4 and Thursday. The pattern suggests institutional investors are not exiting crypto as an asset class but are rotating within it — reducing exposure to the two assets most correlated with the macro environment and most sensitive to Federal Reserve rate policy, while adding to newer tokens with idiosyncratic narratives and less macro correlation.What the record streak signalsThe nine-day outflow streak places current conditions in historical context. The previous record — eight consecutive outflow sessions in February 2025 — preceded Bitcoin's recovery from the $60,000 cycle low and the subsequent 90-day rally to $83,000. If that pattern repeats, the current streak may be approaching exhaustion rather than deepening.However, the macro environment surrounding the current streak is more complex than February's. Rate hike odds above 68% for year-end, fresh US-Iran military strikes reversing ceasefire optimism, record whale distribution signals from CryptoQuant, and 40% of Bitcoin supply underwater create a more challenging backdrop for a spontaneous reversal in institutional demand.The June 5 US-Iran negotiating session and upcoming Federal Reserve communications from Governor Bowman and New York Fed President Williams represent the near-term catalysts most capable of shifting the flow picture. Until one of those catalysts delivers a genuine positive surprise, the record outflow streak may simply be reflecting a macro and geopolitical reality that institutional capital is correctly pricing.

BlackRock has submitted a third amended S-1 filing for its iShares Bitcoin Premium Income ETF (BITA), according to Bloomberg ETF analyst Eric Balchunas, who flagged the update on X. While fees have not yet been disclosed, the successive rounds of amendments signal that BlackRock is actively refining the product ahead of what appears to be an approaching launch.A third S-1 amendment is a meaningful milestone in the ETF registration process. Multiple rounds of amendments typically indicate ongoing dialogue between the issuer and the SEC — with each revision addressing regulatory feedback or updating product terms. The fact that BlackRock is on its third iteration suggests the process is maturing rather than stalling. 

According to Binance Data, Fear and Greed Index is currently at at 33 (Fear) — unchanged from yesterday and down from last week's 38, reflecting the sustained anxiety gripping crypto markets as Bitcoin trades near $73,000 and sentiment remains firmly negative.

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