DWF Report: Stablecoin Annualized Turnover Hits 49.7x, Setting a Record High; Bitcoin and Ethereum ETFs Face Continued Outflows DWF's latest report reveals that the global annualized turnover (velocity) of stablecoins has reached a historic high of 49.7x, with a filtered transaction volume of $664 million accumulated in the first five months of this year. The analysis points out that stablecoin development has now entered the third phase of 'real-world adoption,' with remittances, B2B, and B2C payments becoming the fastest-growing sectors, while exchange-related transaction volumes have significantly declined. Since 2025, the growth rate of stablecoin transaction volumes has completely outpaced the growth in supply, driving its turnover rate from 39.3x to the current 49.7x, reflecting its increasing real-world utility over speculative attributes. In contrast, the crypto spot ETF market is facing a capital retreat. Bitcoin spot ETFs have seen net outflows since October 2025, with cumulative withdrawals reaching $6.6 billion over the past three quarters, marking the longest streak of outflows since the product's launch. Over the past month, the nature of outflows has shifted from early 'cross-product rebalancing' to a collective exit of capital. For instance, on May 27, all issuers across the network recorded a total net outflow of $733.4 million in a single day. Meanwhile, Ethereum spot ETFs are also struggling. Although Grayscale's ETHE has largely exhausted its outflow pressure, the anticipated inflow of funds into low-fee products like BlackRock's ETHA has not materialized. Several issuers frequently reported 'zero inflows' or even net outflows in May, with the lack of institutional buying pressure causing ETH prices to struggle around the $2,000 mark. https://(wublock123.com)/news/dwf-report-stablecoin-turnover-49-7x-bitcoin-ethereum-etf-outflows-62040