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Crypto

Flows return as gold price decline narrows; Europe and Asia lead rebound in spot gold ETFs

Global spot gold exchange-traded funds drew $6.6 billion in April, reversing a massive outflow the month before. March saw $12 billion leave spot gold ETFs, the largest monthly outflow on record. The rebound coincided with a smaller fall in spot gold prices, with Europe leading inflows, followed by Asia and North America. Total assets rose to $615 billion and gold holdings increased to 4,137 tonnes. China’s central bank also continued buying gold.

Crypto

China bans stablecoin and RWA issuance by foreign and domestic firms

China has imposed a blanket ban on issuing yuan-based stablecoins and real-world asset (RWA) tokens, Cointelegraph reported on Thursday. The report said the People’s Bank of China and seven regulators issued a joint statement prohibiting unapproved issuance of stablecoins and RWAs. The measure applies equally to foreign and domestic firms. The move comes as China promotes the digital yuan and follows a pause in related private-sector experiments in 2025.