Crypto News

Prediction markets such as Polymarket and Kalshi currently price roughly a 50–55% probability that Kevin Hassett will be nominated as the next Federal Reserve chair after President Trump signaled he was considering Hassett alongside Kevin Warsh. These markets aggregate money-backed bets and update in real time, reflecting shifting trader conviction. Hassett, a former White House Council of Economic Advisers chair, would likely influence interest-rate policy, quantitative tightening and bank regulation — key drivers of global liquidity and risk appetite that affect crypto prices. Earlier reports showed odds moving sharply as market participants weighed politicization risks; later pricing consolidated around the ~55% level, while Warsh also remains a contender. For crypto traders, prediction-market moves are a near-term signal of changing expectations about Fed posture: higher odds for a candidate perceived as more hawkish could strengthen the dollar, lift bond yields and pressure risk assets; a more dovish or unpredictable appointee can increase volatility and boost demand for alternatives like Bitcoin. Traders should watch prediction-market odds, Treasury yields, dollar indices and volatility indicators; track candidates’ historical views on financial innovation and digital assets; and keep position sizing and stop-management flexible given political appointment risk. These markets reflect sentiment rather than certainty — liquidity, event prominence and news flow can skew short-term pricing — so use odds as a real-time input, not definitive outcomes.

Singapore Exchange (SGX) launched Bitcoin (BTC) and Ethereum (ETH) perpetual futures two weeks ago and is reporting rising volumes and institutional uptake. SGX says the contracts are bringing new liquidity into crypto markets rather than merely shifting capital between venues, with about $250m cumulative notional and daily lots increasing since launch. Institutional participants — hedge funds, crypto-native desks and brokers — are using the regulated perps mainly for basis (cash-and-carry) strategies: buying spot or ETFs and hedging with short perpetual positions rather than taking outright leveraged longs. SGX positions the products as an Asian-time-zone benchmark and stresses stricter risk controls compared with unregulated venues, including higher initial margins, conservative collateral and central clearing to reduce cascading liquidations and counterparty risk. For traders, expect tighter spreads and improved price discovery during Asian hours, plus potential arbitrage and basis-trading opportunities between SGX and other venues. SGX says it will prioritise building liquidity and trust in BTC and ETH perps before considering options, altcoin perps or broader TradFi integrations.

MicroStrategy CEO Michael Saylor is actively engaging with index provider MSCI as the firm reviews whether to remove companies with large digital-asset treasuries from its global indexes. MicroStrategy (MSTR), which joined the MSCI World Index in May 2024 after accumulating a substantial Bitcoin position, is participating in the review process and lobbying to stay included. MSCI is reportedly considering a threshold (discussed figure: companies whose digital-asset positions exceed ~50% of total assets) and aims to reach a decision by mid-January. JPMorgan has estimated that removal of MSTR from MSCI USA and MSCI World — followed by similar moves from other index providers — could trigger significant passive outflows (JPMorgan’s broader figure cited in earlier reporting: roughly $8.8 billion across institutions; a Reuters-cited estimate for MSTR alone was about $2.8 billion). MicroStrategy disputes the scale of projected outflows, pointing to its 1.11x leverage and balance-sheet structure as resilience against steep BTC drawdowns. The company’s large BTC holdings (reported ~214,000 BTC at the time of MSCI inclusion) and recent volatility already forced a dramatic swing in profit expectations, underscoring the stock’s sensitivity to Bitcoin price moves. For traders: index removal could reduce passive ETF and institutional demand for MSTR, increase share volatility, and complicate future equity or debt raises; any decision by MSCI may also affect BTC sentiment due to MicroStrategy’s outsized treasury allocations. Primary keywords: MicroStrategy, MSCI index, MSTR, Bitcoin, passive flows.

Kalshi, a US-regulated prediction-market platform, closed a $1 billion funding round on Dec. 2 that lifts its valuation to about $11 billion. The round was led by crypto-focused Paradigm with participation from Sequoia Capital, Andreessen Horowitz (a16z), ARK Invest and CapitalG. Kalshi reported record November trading — roughly $4.54 billion in monthly volume with weekly volumes topping $1 billion — a surge driven by integrations such as Google showing prediction-market data and broader distribution talks with brokerages. Rival Polymarket also set records in November but Kalshi’s volumes exceeded Polymarket’s. Reports say Coinbase is exploring a prediction-market front end that could use similar technology. Kalshi emphasizes regulatory compliance under CFTC oversight and is expanding product offerings, newsroom and brokerage partnerships, and compliance infrastructure with the new capital. It has also begun supporting tokenized trading of event contracts on Solana (SOL). For traders: the news signals growing mainstream adoption and liquidity in centralized, CFTC-regulated prediction markets, potential new distribution channels via brokerages and exchanges, and increased interoperability with crypto rails (Solana) — factors that may boost trading activity and market depth in related tokens and platforms.

Amundi, Europe’s largest asset manager, has launched a live tokenized share class of a money-market fund on the Ethereum blockchain: Amundi Funds Cash EUR – J28 EUR DLT. This is a production deployment (not a pilot). Amundi partnered with CACEIS, which supplies blockchain-enabled transfer-agent services, investor digital wallets and a 24/7 on-chain order engine for subscriptions and redemptions. CACEIS has flagged potential future settlement options in stablecoins or central bank digital currencies. Amundi says tokenization will enable 24/7 access, faster and cheaper settlement, greater transparency and broader investor reach. The launch occurs amid rapid growth in real-world-asset (RWA) tokenization in 2025 — market cap rising from $15.2bn to $37.1bn year-to-date, with Provenance and Ethereum leading. Traders should note this reinforces institutional on-chain adoption and hybrid distribution models, could increase on-chain stablecoin and ETH activity tied to fund settlement and custody flows, and may accelerate RWA issuance on Ethereum. Primary keywords: Amundi tokenized fund, Ethereum tokenization, tokenized money market fund.

Klarna has launched KlarnaUSD, a US dollar‑backed stablecoin issued via Stripe’s Bridge infrastructure and built for the payments‑focused Tempo layer‑1 blockchain developed by Stripe and Paradigm. KlarnaUSD is currently live on Tempo’s testnet with plans to migrate to Tempo mainnet in 2026. The token will initially be used for internal settlement testing as Klarna explores blockchain settlement to reduce global cross‑border payment costs for its 114 million users and $112 billion annual gross merchandise volume. Klarna says the pilot aims to validate payments infrastructure and lower operational costs; no integration with Klarna’s consumer installment products has been announced. The move marks a strategic shift for Klarna and leverages Stripe’s issuance tools; analysts note it comes amid large and growing stablecoin transaction volumes, which could signal broader fintech interest in tokenised payment rails.

Texas has launched a Strategic Bitcoin Reserve after lawmakers and Governor Greg Abbott approved a $10 million allocation under Senate Bill 21. On Nov. 20 the state purchased $5 million of BlackRock’s iShares Bitcoin Trust (IBIT) as a temporary vehicle while it sets up custody frameworks and vendor contracts to self-custody the remaining $5 million in BTC. The law requires reserve assets to have maintained a $500 billion market cap over 24 months — a threshold Bitcoin meets but IBIT does not, reinforcing the plan to shift from ETF exposure to direct holdings. Market context: Bitcoin has rebounded inside a long-term rising channel and was quoted around $87,000 on weekly charts cited by the report. Trader analysis highlighted $78,000–$79,000 as a key weekly “invalidation” support zone; a sustained weekly close below that range would undermine the bullish trend, while holding above it supports continuation. Implications for traders: the state’s institutional buy is a tangible demand signal that may support price levels, and the identified $78K–$79K band offers a practical risk-management reference for position sizing and stop placement. SEO keywords: Bitcoin, Texas Bitcoin reserve, IBIT, self-custody, $78K support, BTC price action.

Husky Inu has raised $905,239 in its ongoing pre-launch fundraising, surpassing the $900,000 mark. Since April 1, the project has implemented a dynamic pricing model, increasing the token price every two days from $0.00015. As of November 18, HINU trades at $0.00022594, with the next scheduled bump to $0.00022681. Funds will support platform development, marketing, and ecosystem expansion ahead of the March 27, 2026 launch. Meanwhile, the broader crypto market shows mixed trends: Bitcoin and Solana post gains, while Ethereum, Dogecoin, and Litecoin retreat. The divergence of Husky Inu’s fundraising success and price momentum from the wider market slump underscores its unique tokenomics and potential trading opportunities.

Canada’s 2025 federal budget allocates C$10 million to establish national stablecoin regulation. From 2026–27, the Bank of Canada will implement Canada stablecoin regulation by overseeing issuers that must maintain reserves, clear redemption policies, risk-management systems and data protection. After initial funding, annual C$5 million operating costs will be covered by issuer fees. Concurrent amendments to the Retail Payments Act extend oversight to payment providers using stablecoin rails. The framework aligns Canada stablecoin regulation with the US GENIUS Act and EU MiCA, covering a US$305.9 billion market forecast to attract US$1 trillion by 2028. In the wake of a record C$126 million fine against Cryptomus, these measures aim to boost transparency, market stability and liquidity. Crypto traders can expect clearer compliance rules and improved confidence in trading, potentially driving long-term volume growth.

DTCC launched its tokenization service on October 28, with 20 DTC participants—including JPMorgan, Citi and State Street—signing access agreements. The DTCC tokenization service creates on-chain representations of securities already held in custody; it does not issue new shares or move the US stock market onto a public blockchain. Tokenized entitlements retain the securities’ CUSIPs and ownership rights. More than 30 securities are initially eligible, including selected Russell 1000 stocks, index ETFs and US Treasuries. Canton Network and DTCC’s private Besu environment are available at launch, with additional network connections planned for 2027. The often-cited $30 trillion refers to the value of securities eligible for tokenization, not assets already issued on-chain. Access is restricted to participating institutions and approved wallets. Transfers between registered wallets on the same network can settle around the clock, but conversions between tokenized and traditional forms remain limited to business hours. Potential uses include collateral mobility and improved capital efficiency; the service does not make assets freely transferable across networks or replace existing settlement processes. DTCC has not disclosed issuance or transfer volumes, so the launch is not yet evidence of substantial adoption. For crypto traders, the DTCC tokenization service is a long-term signal of institutional blockchain development, but not a confirmed near-term catalyst for Canton’s CC token. Adoption, completed settlement activity, links to cash settlement and the future of the SEC staff’s three-year no-action position remain key indicators.

US SOL spot ETFs recorded net outflows on two consecutive days, according to SoSoValue. On 27 October, withdrawals totalled $19.155 million, all from Grayscale Solana Trust (GSOL). On 28 October, outflows eased to $5.66 million, with Bitwise Solana Staking ETF (BSOL) accounting for the full amount. Across the two days, the flow data points to short-term pressure on sentiment around SOL spot ETFs, but does not by itself confirm a broader shift in demand. As of 28 October, cumulative net inflows across US SOL spot ETFs stood at $1.507 billion and total net assets were $1.558 billion; BSOL had accumulated $1.156 billion in net inflows. The earlier 27 October figures showed $1.513 billion in cumulative fund inflows and $1.544 billion in net assets.

Ripple expects its RLUSD stablecoin to reach Robinhood app users later in 2026, though the companies have not announced a launch date or eligible regions. Robinhood reported 28.6 million funded customers in August, giving RLUSD a potentially broad retail distribution channel. RLUSD is already available on Robinhood Chain and Bitstamp, and its market capitalisation has risen from more than $2.4 billion to about $2.62 billion in the later report. The partnership also includes plans to use RLUSD for institutional settlement on the XRP Ledger and Robinhood’s adoption of Ripple Treasury for global cash and liquidity management. Ripple Prime is expanding financing and trading services for Bitstamp, with perpetual futures planned later this year. The developments could increase RLUSD’s reach and institutional use, but no transaction targets or financial terms were disclosed. They do not guarantee higher demand for XRP, which is separate from the dollar-backed stablecoin.

Anthropic has filed to list Class A shares on Nasdaq under the ticker ANT, although it has not set the offering price or share count. Reports place its potential IPO valuation at $1.5 trillion to $2 trillion. The Anthropic IPO filing has renewed scrutiny of FTX’s 2024 sale of its stake for about $1.34 billion. FTX invested $500 million, and its 7.84% holding at the time would imply a hypothetical value of $117.6 billion at a $1.5 trillion valuation, or $156.8 billion at $2 trillion. These calculations assume no dilution and do not reflect the current value of the shares sold. Buyers included Abu Dhabi-linked ATIC, Jane Street, Fidelity-managed funds and G Squared. Anthropic reported first-half 2026 revenue of $16.3 billion, up more than 1,300% year on year, while sequential growth slowed to 45%. It recorded an $80.7 billion net loss, largely attributed to non-cash valuation adjustments, and a $693 million operating loss. The company may seek to raise as much as $100 billion to support infrastructure commitments estimated at $500 billion to $800 billion. FTX creditor repayments remain based on allowed claims valued around the exchange’s November 2022 collapse, not later asset gains, so the IPO does not change repayment terms. For traders, the listing will test demand for high-growth AI companies with substantial losses and funding needs; it has no direct impact on cryptocurrency prices.

Anthropic’s IPO filing reports first-half 2026 revenue of $16.29 billion, up from $1.16 billion a year earlier. The company recorded an $80.75 billion net loss, largely due to a $72.39 billion fair-value adjustment to financing instruments; its first-half operating loss was $693 million, although it reported an operating profit in the second quarter and positive operating cash flow for the half-year. The Anthropic IPO filing also points to strong enterprise demand: more than 11,900 customers generated at least $100,000 in annual revenue. The five largest customers accounted for about 25% of revenue in the first nine months of 2026. Usage-based fees made up roughly 80% of first-half revenue, while compute and infrastructure costs reached $8.95 billion, about 55% of revenue. Anthropic has not set final IPO pricing or a valuation. It plans to list on Nasdaq under the ticker ANT, with a possible November 2026 debut reported. For investors, the filing highlights both the scale of AI demand and the risks of high infrastructure spending, customer concentration and converting growth into durable profits. Any effects on crypto prices are indirect, through broader technology-market sentiment and AI-related investment trends.

Standard Chartered has launched institutional custody for Ripple USD (RLUSD) on the XRP Ledger through its Dubai International Financial Centre branch, which is regulated by the Dubai Financial Services Authority. The service is available to eligible clients, marking a step forward in institutional access to RLUSD. The bank is also working with Ripple and LMAX Group on a proposed collateral-mirroring model. It could allow eligible RLUSD held in custody to be reflected as collateral at a trading venue without transferring the tokens there, potentially reducing the need to move assets between custodians and platforms. That RLUSD collateral integration is not live. It remains subject to documentation, testing, approvals and jurisdictional conditions, with no launch date announced. The custody service is operational, but acceptance of RLUSD as trading collateral is not confirmed. In the earlier report, XRP was quoted at $1.38, down 2.5% on the day and below the cited $1.40 support level. The development may support longer-term institutional adoption, but it does not by itself establish near-term demand for RLUSD or XRP.

U.S. spot Bitcoin ETFs drew about $525 million to $528 million on Wednesday, extending their inflow streak to three trading days. The funds attracted roughly $1.07 billion to $1.08 billion over the period, reversing October’s earlier losses and leaving monthly net inflows at about $460 million. BlackRock’s IBIT and Fidelity’s FBTC led Wednesday’s inflows. Since launch, Bitcoin ETFs have recorded $58.4 billion in cumulative net inflows and hold $100.8 billion in net assets; year-to-date net inflows were reported at $1.34 billion. Ethereum ETFs also returned to net inflows, taking in $14.9 million and ending five consecutive days of withdrawals, although they remain down about $1.07 billion for October. Solana and XRP ETFs recorded smaller inflows. Despite stronger ETF demand, Bitcoin fell 2.4% in 24 hours to about $81,470, after briefly reaching $84,777 earlier, while Ethereum declined 2.6% to around $2,393. The overall crypto market value slipped 2.9% to $2.84 trillion. Traders on Myriad put the odds of Bitcoin rising above $87,500 before October ends at 20%, versus a 35% chance of a fall to $77,500. Traders are also watching the Federal Reserve’s Oct. 27–28 meeting, as persistent inflation keeps the possibility of another rate increase in focus.

US spot Ethereum ETFs recorded $320.1 million in net outflows from 12–16 October, exceeding the $228.4 million withdrawn from spot Bitcoin ETFs. The outflows were also larger relative to fund size: about 2.1% of Ethereum ETFs’ $14.946 billion in net assets, compared with roughly 0.2% of Bitcoin ETFs’ $104.29 billion. Combined withdrawals from both categories totalled about $548.5 million. BlackRock’s ETHA accounted for about $299 million of Ethereum ETF outflows, more than 90% of the category’s weekly net total. BlackRock’s IBIT led Bitcoin ETF outflows at $165.4 million. Ethereum ETFs recorded only one positive-flow day during 1–16 October, with cumulative net outflows reaching $954.8 million and the weekly withdrawals extending the category’s outflow streak to three weeks. Cumulative net inflows since the funds launched remained positive. The figures track fund creations and redemptions, not asset changes caused by market prices, and do not explain investors’ motives. Ethereum fell 3.6% in the week through 18 October, compared with Bitcoin’s 1.4% decline; on 18 October, BTC traded near $81,238 and ETH near $2,386. ETHA’s concentrated outflows, ETH’s weaker relative performance and competition from staking yields are possible factors, not confirmed causes. Traders will watch whether Ethereum ETF outflows ease and whether flows continue to diverge from Bitcoin ETFs.

Polygon has completed its acquisition of Coinme, adding U.S. payments coverage across 48 states through 37 money-transmitter licences and 11 applicable exemptions. Coinme is also registered with FinCEN as a money services business. The deal was part of Polygon’s previously announced acquisition package, which also included wallet infrastructure firm Sequence and was valued at more than $250 million; Coinme’s individual purchase price was not disclosed. The acquisition strengthens Polygon’s Open Money Stack, which connects fiat on- and off-ramps, wallets, cross-chain routing and on-chain settlement. Polygon says Tazapay, Mesh, Toku and Kira are early adopters, with use cases including cross-border payments, fiat access, stablecoin payroll and business payments. The infrastructure is still in technical preview for selected customers, and the licences do not amount to a single nationwide banking licence. Polygon has reported more than $3 trillion in cumulative stablecoin transfers, but that figure is not revenue earned by Polygon Labs. The commercial impact of the Coinme acquisition will depend on customer adoption, payment volumes, costs and Polygon’s ability to generate revenue. For traders, the deal adds a regulated-payments growth narrative, but does not by itself demonstrate increased demand for Polygon’s token.

A US federal judge has rejected Gemini and the Commodity Futures Trading Commission’s (CFTC) joint request to overturn their January 2025 settlement. Gemini must keep its $5 million penalty and comply with a permanent injunction barring false or misleading statements to the regulator. The case stems from CFTC allegations that Gemini misled the agency in 2017 during its review of a proposed Bitcoin futures product. In 2026, the CFTC supported reopening the case after an internal review questioned the original investigation and some evidence. Judge Alvin Hellerstein ruled that the parties had not met the legal standard to vacate the judgment, noting that Gemini had defended itself for years before settling. The decision leaves the Gemini settlement in force, with no additional fine. It also shows that changes in regulatory policy or a regulator’s position do not automatically undo a final court judgment. The ruling has limited direct implications for Bitcoin trading, but highlights ongoing legal uncertainty for crypto firms.

The UK High Court has ruled that Chinese law will govern property claims over about 61,000 Bitcoin seized by London police in 2018. The decision sets the legal framework but does not decide who owns the Bitcoin or how it will be distributed. The ruling means claimants must establish property rights under Chinese law, rather than rely only on a claim for repayment. The Bitcoin is linked to a fraud case involving Zhimin Qian. The alleged investment schemes operated in China from 2014 to 2017, raising about 40.228 billion yuan through more than 128,000 contracts and affecting over 128,000 investors, according to the summaries. The court found that the schemes, payments and Bitcoin purchases were centred in China. The holdings have been valued at about £3.8 billion ($5 billion), though market value fluctuates with the Bitcoin price. Further proceedings will assess individual claims under Chinese law. Victims’ lawyers may appeal the choice-of-law ruling, and reports suggest the UK government could have a stronger chance of retaining much of the Bitcoin. The case has no direct effect on Bitcoin’s protocol or supply, but its outcome may shape how courts handle cross-border crypto ownership claims and seized assets.

Coins.ph says its Bangko Sentral ng Pilipinas (BSP) licences remain active after the central bank restricted incoming InstaPay and PESONet transfers to DCPay Philippines, the exchange’s electronic money issuer. The suspension blocks peso cash-ins through those bank-transfer channels, though Coins.ph says crypto trading, cash-outs, bill payments and merchant QR Ph payments remain available. The reported measures apply to DCPay, not Betur Inc., Coins.ph’s separately licensed virtual asset service provider (VASP). Coins.ph denies serving offshore gambling operators, but an earlier statement did not directly confirm or deny whether related transactions passed through its platform. The company describes its BSP engagement as routine oversight, says it is enhancing controls at the regulator’s request and says customer funds are safe. The BSP declined to comment on specific supervisory matters. An earlier report cited around $52 million in 24-hour spot trading volume. The cash-in limits create uncertainty for Philippine users and restrict fiat on-ramps, but Coins.ph says its licences and crypto services remain active.

Standard Chartered has launched direct Bitcoin and Ethereum trading for eligible Professional Investors in the UAE, following approval from Dubai’s Virtual Assets Regulatory Authority (VARA). Clients can trade BTC and ETH through existing bank accounts, while the bank manages custody and settlement in a closed-loop system developed with Zodia Markets, backed by SC Ventures. The service reduces reliance on third-party platforms and separate wallets, but spreads can reach 2% and access is currently restricted to professional investors. The bank describes the launch as its first such service and the first crypto trading service from an international bank in the UAE. Previously, its spot crypto trading was limited to institutional clients; wealth clients could access exposure through products such as ETFs and derivatives, but not directly hold coins through this service. Standard Chartered plans to expand the offering to other markets, with no timeline announced. The regulated Bitcoin and Ethereum channel may broaden institutional access, although eligibility limits and trading costs could constrain near-term demand.

Jeonbuk Bank has reportedly issued one Korean won loan to a business backed by Bitcoin, which local media described as a first for a South Korean commercial bank. The product is currently limited to corporate borrowers seeking working capital, and Bitcoin is the only eligible collateral. A third-party custodian holds the Bitcoin, while the bank says it will not take possession of or control the asset directly. Rules that took effect on 1 October reportedly allow the collateral to be sold under a court order to recover funds if a borrower defaults. Jeonbuk says it stress-tested Bitcoin as collateral and uses a weighted price index based on several global exchanges. The loan amount, interest rate and loan-to-value ratio have not been disclosed. The launch forms part of the bank’s “Crypto Bank” strategy, with any expansion dependent on regulation and demand. Bitcoin-backed lending by a traditional bank is a notable institutional adoption signal, but the product’s limited scope and undisclosed terms leave its immediate market impact uncertain.

Thailand’s Securities and Exchange Commission has finalized 11 notifications creating a regulatory framework for locally established Bitcoin ETFs and Ether ETFs. The rules take effect on October 16, 2026; this is not a confirmed launch date for any fund. No issuers or trading tickers have been announced. Initially, funds must passively track either Bitcoin or Ether and maintain average net exposure of at least 80% to the selected asset over each fiscal year. They must use SEC-supervised custodians in Thailand and trade on the Stock Exchange of Thailand (SET). Each Bitcoin ETF or Ether ETF still needs individual approval and a completed SET listing before trading can begin. Retail safeguards include risk disclosures and a ban on broker-provided margin for ETF purchases. Thai securities firms are also restricted from facilitating overseas crypto ETF purchases for most investors. The framework adds a regulated route for local crypto investment, but its market impact will depend on fund approvals, availability and demand. Local activity had weakened: active exchange accounts fell to 121,000 in July 2026, while daily trading value declined 27.13% month over month to 1.378 billion baht. These figures do not measure ETF demand. In the near term, the effect on BTC and ETH prices may be limited until funds are approved and listed.

FinCEN has withdrawn two proposed crypto rules covering unhosted-wallet transactions and convertible virtual currency mixing. The proposals would have added recordkeeping, identity verification and reporting requirements for some self-custody and crypto mixer activity. Neither rule took effect. The FinCEN crypto rules withdrawal removes two pending compliance risks for exchanges, wallet developers, financial institutions and privacy-focused users. The decision followed a review of public comments and forms part of a broader US deregulatory effort to make digital-asset oversight more practical. Existing anti-money-laundering, know-your-customer, sanctions and customer-identification obligations remain in place. FinCEN will also continue monitoring crypto mixers for illicit finance and could propose similar measures again. For crypto traders, the FinCEN crypto rules withdrawal reduces near-term US regulatory uncertainty around self-custody and mixing services. It may modestly improve sentiment toward digital-asset businesses, but it creates no new legal protections and does not directly affect any specific cryptocurrency. The immediate price impact is therefore likely to be limited.

BitMine Immersion Technologies bought 15,112 ETH in the week ending 4 October, taking its Ethereum treasury to 6,016,414 ETH. The holdings equal about 4.9% of Ethereum’s circulating supply, leaving the company roughly 88,586 ETH short of its 5% target. The purchase was below the previous week’s 17,362 ETH and was BitMine’s smallest weekly acquisition since mid-August. BitMine had staked 5,067,309 ETH, or 84.2% of its holdings, through its MAVAN validator network and partners. Based on a seven-day annualised staking yield of 2.63%, the company estimates annual gross staking revenue of about $363 million. Full staking could raise that figure to roughly $431 million, although returns vary and remain exposed to network participation, fees, operating costs, custody risks, validator downtime and slashing. At an ETH price of about $2,697.51, BitMine’s ETH treasury was worth approximately $16.23 billion. Its wider digital-asset, cash and equity holdings were previously valued at about $17.4 billion, including 214 BTC, a stake in Beast Industries and shares of Eightco Holdings. Cash and marketable securities fell to $643 million from $672 million. Chairman Tom Lee said ETH gained more than 70% in the third quarter and outperformed the S&P 500 by 68.32 percentage points. However, ETH remained down about 10% for the first nine months of 2026. BitMine’s shares had fallen 3% in 2025, compared with a 10% decline for ETH, partly reflecting a 21-million-share buyback under a $4 billion authorisation. The company’s ETH treasury strategy increases its sensitivity to ETH prices, staking performance, financing conditions and dilution. The value of its ETH holdings exceeding its ordinary equity market value does not by itself prove that the stock is undervalued, given debt, preferred shares, taxes and custody risks.

Bitcoin rose about 1% to above $86,000 after a weak September US jobs report reduced expectations of an October Federal Reserve rate hike. Employers added only 29,000 jobs, below the roughly 84,000 forecast. Unemployment increased to 4.2%, while annual wage growth slowed to 3%, its weakest level since May 2021. Payroll growth for July and August was also revised down by 60,000 jobs. The data reduced futures-market expectations of an October rate hike from about 66% at the start of the week to 22%. Softer inflation and dovish comments from Chicago Fed President Austan Goolsbee further supported expectations of a policy pause. Bitcoin later eased towards $85,300 but remained above $86,000 in the latest trading update. QCP Capital said Bitcoin must decisively clear $87,200, with resistance extending towards $87,500, to confirm another upward move. A break above that area could support a move towards $90,000, while rejection may trigger profit-taking. Weekend crypto liquidations were relatively limited at $62.7 million, with short positions accounting for 68%. Other major cryptocurrencies were mixed. DOGE gained more than 3%, HYPE rose nearly 3% to about $93, and ETH and XRP advanced by up to 1%. SOL, BNB and ZEC slipped by less than 1%. Despite the weaker jobs data, the 10-year US Treasury yield remained elevated at 5.25%, reflecting heavy bond supply and higher long-term debt risk premiums. Institutional demand remains supportive. US spot Bitcoin ETFs attracted about $6.34 billion in the third quarter, including $2.65 billion in September, while Bitcoin gained nearly 43% during the quarter. Traders will watch the Federal Reserve meeting minutes, due Wednesday, as well as ETF flows, Treasury yields and further labor-market data for signals on interest rates, liquidity and Bitcoin’s next direction.

US spot Bitcoin ETFs attracted $6.34 billion in net inflows during Q3 2026, their strongest quarter of the year. The inflows reversed roughly $5 billion in outflows from Q2 as Bitcoin rose 42.71%, recording its best third-quarter performance since 2017. Bitcoin ETF inflows reached $172 million in July, $3.52 billion in August and $2.65 billion in September. In August, inflows were recorded on 16 of 21 trading days, while assets under management rose 31% to $99.61 billion and trading volume increased 49% to $58.63 billion. The growth in assets outpaced Bitcoin’s price gains, indicating that new capital drove much of the expansion. Momentum weakened at the end of September. Bitcoin ETFs recorded about $149 million in net outflows on the final trading day, ending a nine-day inflow streak worth around $3.1 billion. This followed an earlier session with $236.46 million in outflows, led by BlackRock’s IBIT and Fidelity’s FBTC, suggesting possible profit-taking or short-term volatility. US spot Ether ETFs also strengthened, attracting $3.05 billion in Q3 after $714 million in Q2 outflows, while Ether gained about 71%. XRP ETFs added $308 million during the quarter, bringing cumulative inflows to $1.79 billion. Solana and Zcash ETFs attracted $272 million and $246 million, respectively, in September. Overall, crypto ETF flows point to strong institutional demand and improving risk appetite, although traders should monitor late-quarter outflows for signs of consolidation.

The UK Financial Conduct Authority (FCA) has opened crypto licence applications ahead of a full regulatory regime taking effect on 25 October 2027. Existing crypto firms must apply by 28 February 2027 to continue serving UK customers under transitional arrangements. Firms that apply before the deadline can continue offering services, including accepting new business, while the FCA reviews their applications. Late applicants may face tighter limits and could generally be restricted to servicing existing contracts. FCA authorisation is not automatic. Current Money Laundering Regulations registration and existing permissions will not transfer automatically to the new framework. The FCA crypto licence process follows final rules published in June and guidance issued in September. The regulator will assess business plans, governance, financial resources, technology, operational resilience, financial crime controls, complaints procedures, consumer protection and customer-asset safeguarding. Covered activities include qualifying stablecoin issuance, crypto trading platforms, dealing and arranging, digital-asset custody and staking services. For crypto traders, the UK FCA crypto licence framework could raise compliance costs and create short-term uncertainty for firms serving UK customers. In the longer term, clearer rules may improve market standards, strengthen consumer confidence and encourage institutional participation. The FCA is offering pre-application support, meetings and regulatory webinars to help firms prepare.