BlackRock’s iShares Bitcoin Trust (IBIT) has recorded 16 consecutive days of inflows, amassing approximately $4.7 billion since April 9. On May 6 alone, the fund attracted an additional 280 BTC, valued at around $36 million, according to HODL15Capital. This consistent influx positions IBIT as the sole U.S. spot Bitcoin ETF to report positive flows in the first week of May. In contrast, other funds, including Grayscale’s GBTC, experienced outflows, with GBTC shedding nearly $90 million on May 6.

ETF Store President Nate Geraci highlighted the significance of IBIT’s performance, noting that the fund is nearing $5 billion in new capital—a milestone skeptics once deemed unattainable within a year. Bloomberg ETF analyst Eric Balchunas echoed this sentiment, suggesting that Bitcoin ETFs could potentially triple the assets under management of gold ETFs within the next three to five years.

Concurrently, Bitcoin’s price briefly surpassed $97,500 on May 7, revisiting levels last seen on May 2, before settling at $96,538. The 2.2% daily gain may have been influenced by New Hampshire’s recent legislation establishing a strategic Bitcoin reserve, as well as reports of upcoming high-level trade discussions between the United States and China.

In related developments, BattleShares filed for four new ETFs on May 6, aiming to offer investment strategies that go long on Bitcoin while shorting Ethereum or gold. One of these proposed ETFs, potentially tickered “MAXI,” underscores the growing interest in diversified crypto investment products.

South Korea’s Democratic Party leader and presidential front-runner, Lee Jae-myung, has announced plans to legalize spot cryptocurrency exchange-traded funds (ETFs) if elected in the upcoming June 3 election. This initiative is part of a broader strategy to provide more investment opportunities for the nation’s youth, a key demographic in his campaign.

Lee’s proposal includes not only the legalization of spot crypto ETFs but also aims to reduce transaction fees and enhance consumer protection measures. He emphasized the importance of creating a secure investment environment to help young people build assets and plan for their futures.

According to a survey conducted by Korea’s National Barometer Survey between April 24 and 30, Lee’s Democratic Party leads with 42% support, while acting President Han Duck-soo trails at 13%. This marks the first time Lee has incorporated cryptocurrency policies into his presidential campaign.

The ruling People Power Party has also made similar promises, including the approval of spot crypto ETFs, dismantling the one-exchange-one-bank rule, and establishing a regulatory framework for stablecoins. The one-exchange-one-bank rule currently limits each crypto exchange to partnering with only one local bank, a measure intended to prevent money laundering and ensure transparency.

Industry officials estimate that approximately 16 million South Koreans, or about 31% of the population, have access to a cryptocurrency account, highlighting the significance of crypto-related policies in the nation’s political landscape.

Coinbase has introduced x402, a groundbreaking payments protocol designed to enable AI agents and applications to conduct autonomous stablecoin transactions over standard internet protocols. Announced on May 6, x402 facilitates instant stablecoin payments via HTTP, aiming to transform AI agents from tools requiring constant human interaction into independent economic actors.

The protocol revives the experimental HTTP 402 “Payment Required” status code, embedding stablecoin payments directly into web interactions. This integration allows APIs, applications, and AI agents to transact seamlessly, reducing reliance on traditional payment methods like credit cards and bank transfers, which are often slow, costly, and geographically limited.

Erik Reppel, head of engineering at Coinbase Developer Platform and co-author of the x402 white paper, stated, “We’re laying the groundwork for an economy run not just by people, but by software — autonomous, intelligent, and always on.”

Developed in collaboration with Amazon Web Services, Circle, Anthropic, and Near Protocol, x402 allows AI agents to access paid resources in real-time, eliminating the need for pre-paid credits or human-managed accounts. This capability enables AI agents to provision and pay for hardware resources, access specialized data sources through micropayments, and compensate other AI systems for services.

Gagan Mac, vice president of product management at Circle, highlighted that x402 “elegantly simplifies real-time monetization” and unlocks “exciting new use cases like micropayments for AI agents and apps.”

For developers and content creators, x402 offers the ability to monetize APIs, create software unlocks, and implement metered services that dynamically charge users based on actual resource usage, all without the need for blanket subscriptions or credit card minimums and fees.

This initiative marks a significant step toward a more automated internet economy, where AI agents can operate with greater autonomy and efficiency.