Here’s what happened in crypto today

Today in crypto, after a 12-day streak that pulled in $6.6 billion, spot Bitcoin exchange-traded funds (ETFs) recorded outflows on Monday as BTC struggled to regain the $120,000 level. Tornado Cash’s Roman Storm’s lawyers are reportedly looking into a motion for mistrial over a government witness’s testimony, and BitGo is going public in the United States.Spot Bitcoin ETFs break 12-day inflow streak amid “profit taking”Spot Bitcoin ETFs registered a net outflow of $131.35 million on Monday, marking the end of a 12-day streak that attracted $6.6 billion of inflows.The largest outflow was from ARK Invest’s ARKB, which shed $77.46 million in a single day. Grayscale’s GBTC followed with $36.75 million in outflows, while Fidelity’s FBTC lost $12.75 million, according to data from SoSoValue.Bitwise’s BITB and VanEck’s HODL also posted moderate outflows of $1.91 million and $2.48 million, respectively. BlackRock’s IBIT, the largest fund by net assets ($86.16 billion), saw no inflows or outflows.Meanwhile, cumulative net inflows remain robust at $54.62 billion and total net assets across all spot Bitcoin (BTC) ETFs stand at $151.60 billion, accounting for 6.52% of Bitcoin’s total market capitalization.The $131 million in outflows came as investors and institutions locked in some gains to manage risk, according to Vincent Liu, chief investment officer at Kronos Research.“The recent ETF outflows reflect profit-taking near the highs and measured institutional rebalancing to lock in gains,” Liu told Cointelegraph.Roman Storm could ask for mistrial over scam victim’s testimonyTornado Cash co-founder Roman Storm’s lawyers could be considering a motion for mistrial over a government witness they claim had nothing to do with the crypto mixer.Storm’s defence floated the idea of a mistrial with Manhattan federal judge Katherine Polk Failla on Monday, questioning the testimony of government witness Hanfeng Lin on Tuesday, Inner City Press reported.If allowed, a mistrial ruling would see Storm’s trial considered invalid due to a judicial error — which in this case could be evidence that should have been excluded — and it could be dismissed in its entirety or retried with a new judge and jury.Storm is facing up to 45 years in prison after being charged in 2023 with money laundering conspiracy, conspiracy to violate US sanctions, and conspiring to run an unlicensed money laundering business in connection with Tornado Cash, the crypto mixing service he co-founded.He was charged alongside fellow co-founder Roman Semenov, who has not appeared in court and is believed to be in his native Russia.BitGo files for US IPO as crypto custody business surpasses $100 billionDigital asset custodian BitGo has filed paperwork to pursue an initial public offering (IPO) in the United States, highlighting the crypto industry’s continued push toward mainstream financial markets.On Monday, BitGo announced it had confidentially submitted a draft registration statement on Form S-1 to the Securities and Exchange Commission (SEC) for a proposed IPO of its Class A common stock. At the time of filing, no determination was made on the number of shares or price range of the stock offering.As of publication, the registration statement had not yet appeared on the SEC’s EDGAR database.BitGo is one of the crypto industry’s largest custodians, with assets under custody surpassing $100 billion in the first half of 2025, up from $60 billion at the start of the year, according to Bloomberg.The IPO comes as BitGo seeks to expand its presence overseas, with the company recently securing regulatory approval in the European Union under the Markets in Crypto-Assets (MiCA) framework. As reported by Cointelegraph, the approval extends BitGo’s digital asset services across the EU.