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Bitmine’s Ethereum Holdings Surpass 6 Million ETH

Bitmine’s Ethereum Holdings Surpass 6 Million ETH

<p class="text-left mb-4 ">Bitmine Immersion Technologies announced that it purchased 17,362 Ethereum over the past week. According to the company’s September 28 announcement, its total holdings reached 6,001,302 ETH.</p><p class="text-left mb-4 ">The latest purchase brings Bitmine closer to its goal of accumulating 5% of Ethereum’s supply. The company estimates that its current holdings represent approximately 4.9% of the total ETH supply.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Bitmine purchased over 17,000 Ethereum last week</h2><p class="text-left mb-4 ">Chairman Tom Lee said the company acquired 17,362 ETH over the past week. Lee also stated that Bitmine has purchased ETH every week since launching its <a href="https://jrkripto.com/tr/coin/eth" target="_blank" rel="noopener noreferrer" class="text-primary underline">Ethereum</a> treasury strategy on June 30, 2025.</p><p class="text-left mb-4 ">The latest addition pushed the company’s Ethereum holdings above 6 million within approximately 15 months. Through its strategy, called “Alchemy of 5%,” Bitmine aims to acquire 5% of Ethereum’s total supply.</p><p class="text-left mb-4 ">According to The Block, the company did not disclose the average price of its latest purchases. At the prices cited in the report, 17,362 ETH was worth approximately $46.7 million; however, this figure does not represent a purchase cost disclosed by the company.</p><p class="text-left mb-4 ">This distinction matters when assessing treasury updates. The market value of a company’s crypto holdings changes with prices, while its acquisition cost depends on the prices at which it completed the purchases.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Total asset value reaches $17.2 billion</h2><p class="text-left mb-4 ">Bitmine reported a combined value of $17.2 billion for its crypto assets, cash, marketable securities and other investments. The company’s September 27 valuation uses a reference price of $2,698 per Ethereum.</p><p class="text-left mb-4 ">Alongside Ethereum, the portfolio includes 213 Bitcoin. Bitmine also reported $672 million in cash and marketable securities, a $180 million investment in Beast Industries and a $115 million stake in Eightco Holdings.</p><p class="text-left mb-4 ">The $17.2 billion figure therefore represents the combined value of several asset categories. It does not indicate the total amount the company has spent on Ethereum purchases.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Approximately 84% of holdings are staked</h2><p class="text-left mb-4 ">Staking also plays a significant role in Bitmine’s strategy. The company reported that it had staked 5,067,309 ETH as of September 27.</p><p class="text-left mb-4 ">This amount represents approximately 84% of its total Ethereum holdings. Bitmine projected annualized staking revenue of $358 million from its current operations.</p><p class="text-left mb-4 ">Staking allows asset holders participating in Ethereum’s validation process to earn rewards. Alongside exposure to price changes, generating income from its holdings is therefore another component of the company’s Ethereum strategy.</p><p class="text-left mb-4 ">Bitmine projects that annualized rewards could reach $424 million if it stakes its entire Ethereum treasury through the MAVAN platform and its staking partners. This calculation assumes an annualized yield of 2.62%; it does not represent realized annual revenue.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Tom Lee expects institutional demand to increase</h2><p class="text-left mb-4 ">Tom Lee said he believes institutions’ allocations to crypto assets remain low. He also expects institutional investors to increase their exposure during the final months of the year.</p><p class="text-left mb-4 ">Lee’s comments reflect management’s market outlook. Bitmine’s latest announcement highlights two concrete developments accompanying that outlook: its Ethereum holdings have surpassed 6 million ETH, while the amount allocated to staking remains above 5 million ETH.</p>

28 Sep 2026
Citi and Coinbase Team Up on Digital Payments

Citi and Coinbase Team Up on Digital Payments

<p class="text-left mb-4 ">Citi and <a href="https://jrkripto.com/tr/exchanges/coinbase-exchange" target="_blank" rel="noreferrer" class="text-primary underline">Coinbase </a>announced a collaboration to develop digital asset payment solutions for institutional clients. The companies’ announcement, dated October 27, 2025, outlines plans to simplify conversions between traditional currencies and digital assets and explore stablecoin payment options.</p><p class="text-left mb-4 ">The initial phase focuses on fiat deposits and withdrawals, alongside payment orchestration. By combining Citi’s international payments network with Coinbase’s digital asset infrastructure, the companies aim to offer institutional clients a smoother transaction experience.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Easier Access to Crypto for Citi’s Institutional Clients</h2><p class="text-left mb-4 ">The project centers on channels that allow users to convert money held within the traditional financial system into digital assets. Known as “on-ramps,” these channels give clients access to the digital asset ecosystem using traditional currencies.</p><p class="text-left mb-4 ">“Off-ramps” work in the opposite direction. Institutions can use this infrastructure to convert their digital assets back into traditional currencies.</p><p class="text-left mb-4 ">Citi and Coinbase plan to simplify these conversions in both directions. Coordinating payment processes also ranks among the collaboration’s initial priorities.</p><p class="text-left mb-4 ">According to Citi’s announcement, the companies will also explore alternative methods for converting traditional currencies into stablecoin payouts on blockchains. The bank aims to make these transitions smoother and accessible around the clock.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Stablecoin Payments and Treasury Management in Focus</h2><p class="text-left mb-4 ">In its announcement, Coinbase highlights institutions’ ability to transfer value through blockchains. The company says conversions between traditional money and digital assets play an important role in payments, treasury management, and the efficiency of financial infrastructure.</p><p class="text-left mb-4 ">The collaboration therefore covers payment solutions involving stablecoins, alongside other infrastructure initiatives. The companies aim to develop tools that allow institutions to incorporate digital assets into their existing financial processes.</p><p class="text-left mb-4 ">Coinbase says it is exploring options with Citi to make these tools faster, more reliable, and available 24/7. The announcement thus outlines the direction of the payment infrastructure the companies intend to develop for institutional use.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Citi’s Global Network Meets Coinbase’s Infrastructure</h2><p class="text-left mb-4 ">According to Coinbase’s announcement, Citi’s payments network spans 94 markets and more than 300 payment clearing systems. The collaboration aims to combine this international reach with Coinbase’s technology and infrastructure expertise in digital assets.</p><p class="text-left mb-4 ">The companies are working on payment solutions for institutions operating at scale. Coinbase also says its work with banks, asset managers, and payment service providers aims to expand the use of digital assets across the financial system.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">The Announcement Does Not Mean All Services Are Live</h2><p class="text-left mb-4 ">The October 27, 2025 announcement outlines the collaboration’s initial scope and the areas the companies intend to explore. Citi said it would share details of specific initiatives in the following months, while noting that the work remained subject to further exploration and relevant regulatory considerations.</p><p class="text-left mb-4 ">The announcement therefore does not establish that stablecoin payment services have become available to all Citi clients. Its focus is on developing digital asset payment capabilities for institutional customers.</p>

28 Sep 2026
Crypto This Week: 29 Events in Focus as PCE and Jobs Data Take Center Stage

Crypto This Week: 29 Events in Focus as PCE and Jobs Data Take Center Stage

<p class="text-left mb-4 "><a href="https://jrkripto.com/tr/coin/btc" target="_blank" rel="noreferrer" class="text-primary underline">Bitcoin </a>started the week of September 28-October 4 at around $82,900. Ether was trading near $2,650 at the time of writing, while rising oil prices and expectations of further rate increases limited risk appetite.</p><p class="text-left mb-4 "> <figure class="my-6"> <img src="https://minio-api-1.jrkripto.com/blog/btcusdt-2026-09-28-11-46-47-00397ed7.webp" alt="BTCUSDT_2026-09-28_11-46-47.png" width="auto" height="auto" class="w-full rounded-lg border" /> </figure> </p><p class="text-left mb-4 ">The main events of the week will be the US PCE inflation report and Friday’s employment data. On the crypto calendar, votes that could determine Balancer’s future, the Base and Hedera upgrades, Router Protocol’s shutdown and five token unlocks worth approximately $307 million stand out.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">PCE and jobs data will test Fed expectations</h2><p class="text-left mb-4 ">The US Bureau of Economic Analysis will publish the August personal income and outlays report on Wednesday, September 30, at 3:30 p.m. Türkiye time. The report will also include headline and core PCE inflation, closely watched by the Federal Reserve.</p><p class="text-left mb-4 ">Annual core PCE inflation stood at 3.3% in July. The monthly price change in the August report will indicate how far higher oil costs have spread into core goods and services.</p><p class="text-left mb-4 ">The third estimate of second-quarter economic growth will also arrive on September 30 at 3:30 p.m. Türkiye time. The BEA will release corporate profit and industry-level growth figures at the same time, meaning the initial market reaction may extend beyond the headline GDP number.</p><p class="text-left mb-4 ">The first major employment indicator will be the August JOLTS report on Tuesday, September 29, at 5:00 p.m. Türkiye time. Job openings and the quits rate will provide new signals about labor demand.</p><p class="text-left mb-4 ">The ADP private-sector employment report will be published on Wednesday, September 30, at 3:15 p.m. Türkiye time. ADP and the official payroll report use different methodologies, so the two figures may not necessarily move in the same direction.</p><p class="text-left mb-4 ">The strongest market reaction of the week could form around the US employment report on Friday, October 2, at 3:30 p.m. Türkiye time. The report will cover September nonfarm payrolls, unemployment and wage growth.</p><p class="text-left mb-4 ">A recent Reuters poll forecasts an increase of 100,000 jobs and a rise in the unemployment rate to 4.2%. These figures are market expectations; the official results will be published on Friday.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Fed officials will speak after the rate increase</h2><p class="text-left mb-4 ">The Fed raised its target rate by 25 basis points to 3.75%–4.00% on September 16. Futures markets currently assign an approximately 65% probability to another increase at the October meeting.</p><p class="text-left mb-4 ">Michael Barr will discuss the economic outlook on Tuesday, September 29, at 7:40 p.m. Türkiye time. Christopher Waller will speak about payment systems at the Sibos conference in Miami at 10:00 p.m. the same day.</p><p class="text-left mb-4 ">Philip Jefferson’s speech on Thursday, October 1, at 8:30 p.m. Türkiye time will focus directly on the US economy and monetary policy. The Fed’s official calendar also includes separate appearances by Michelle Bowman and Lisa Cook covering regulation, economic data and central banking.</p><p class="text-left mb-4 ">Investors will focus on how officials balance inflation and employment risks. A significant surprise in the PCE or payroll data could increase the market impact of these speeches.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Another rate increase is expected in Australia</h2><p class="text-left mb-4 ">The Reserve Bank of Australia will announce its policy decision on Tuesday, September 29, at 7:30 a.m. Türkiye time. The governor’s press conference will begin at 8:30 a.m.</p><p class="text-left mb-4 ">Market pricing indicates an approximately 95% probability that the cash rate will increase by 25 basis points to 4.60%. Core inflation reaching 3.6% and high energy costs underpin expectations for another increase.</p><p class="text-left mb-4 ">China’s official September PMI results will arrive on Wednesday, September 30, at 4:30 a.m. Türkiye time. Investors will watch whether the manufacturing index, which stood at 49.8 in August, moves above the 50-point threshold separating expansion from contraction.</p><p class="text-left mb-4 ">The Bank of Japan will publish its Tankan corporate survey and a summary of opinions from its September meeting on Thursday, October 1, at 2:50 a.m. Türkiye time. After the BOJ raised its policy rate to 1.25% at its latest meeting, companies’ price and wage expectations will matter for yen-funded trades.</p><p class="text-left mb-4 ">The euro area’s flash September inflation report will be released on Friday, October 2, at noon Türkiye time. Final headline inflation stood at 3.2% in August, and another increase could affect expectations for the ECB’s policy path.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Oil approaches $107 again</h2><p class="text-left mb-4 ">Brent crude started the week at around $106–$107 per barrel, while West Texas Intermediate traded in the $93–$94 range. The absence of an agreement in talks between the United States and Iran, together with Middle East shipping risks, continues to support energy prices.</p><p class="text-left mb-4 ">Persistently high oil prices could strengthen inflation pressures through transportation, production and food costs. Bitcoin and altcoins could face tighter dollar liquidity if this outlook causes the Fed, RBA and ECB to maintain restrictive monetary policy for longer.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Balancer’s future goes to a vote</h2><p class="text-left mb-4 ">The Balancer community will vote until September 29 on BIP-928, which proposes an orderly wind-down of the protocol. The plan would end new business development, place eligible pools into withdrawal-only mode on October 30 and distribute the remaining treasury assets to BAL holders.</p><p class="text-left mb-4 ">The proposal includes two “yes” options that differ over the share allocated to tetuBAL assets. A separate proposal, BIP-929, presents a restructuring option for the Balancer brand and infrastructure, making the votes more significant than a routine technical parameter change.</p><p class="text-left mb-4 ">Horizen’s Special Council election will end on Wednesday, September 30, at 8:00 p.m. Türkiye time. The elected members will take part in the ecosystem’s governance and oversight processes.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Hedera and Base prepare network upgrades</h2><p class="text-left mb-4 ">Hedera will upgrade its mainnet to version 0.77.2 on Tuesday, September 29, between 8:00 p.m. and 8:40 p.m. Türkiye time. The project’s status page warns that brief disruptions may occur during the upgrade.</p><p class="text-left mb-4 ">Base node operators must move their clients to version 1.4.2 before the Cobalt upgrade on Wednesday, September 30, at 9:00 p.m. Türkiye time. The release includes support for Proofs v2 snapshots and fixes for issues identified in the previous version.</p><p class="text-left mb-4 ">Router Protocol will cease operations on the same day and burn 303,333,198 ROUTE. The amount represents approximately 30% of the token’s maximum supply, and the team said its commercialization, licensing and acquisition efforts had failed to produce a viable outcome.</p><p class="text-left mb-4 ">Some calendars previously listed the XRPL BatchV1_1 activation for September 29. Its support process was reset, pushing activation back to October 9 at the earliest.</p><p class="text-left mb-4 ">Solana has also not confirmed a mainnet date for Alpenglow. Neither development is therefore included among the week’s 29 events.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Upbit and Bithumb will end SNX trading</h2><p class="text-left mb-4 ">Upbit and Bithumb will terminate trading support for Synthetix on Monday, September 28, at 9:00 a.m. Türkiye time. The exchanges said the information requested from the foundation had failed to resolve their investor-protection concerns.</p><p class="text-left mb-4 ">Bitget postponed the delisting of FHE, DRIFT, RVV and DOG, previously scheduled for September 30, following a security incident. The decision is not included in the upcoming calendar because the exchange has not announced a new date.</p><p class="text-left mb-4 ">No high-profile spot listing or major token launch has been confirmed on leading exchanges this week. Authorities have also not announced a major crypto law taking effect or a new congressional digital asset vote with a confirmed date.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Five token unlocks will add approximately $307 million in supply</h2><p class="text-left mb-4 ">The week’s largest proportional token unlock will take place in 2Z. A total of 1.625 billion tokens will be released on October 2, worth approximately $95.4 million at spot prices at the time of writing.</p><p class="text-left mb-4 ">The amount equals approximately 46.4% of the project’s reported market capitalization.</p><p class="text-left mb-4 ">Canton Network will make 833.33 million community-allocated CC available on October 1. The unlock is worth approximately $94.7 million.</p><p class="text-left mb-4 ">Ethena will unlock 275.02 million ENA on the same day. The tokens, worth approximately $73.7 million, are allocated to the team, private investors, the community and the foundation.</p><p class="text-left mb-4 ">Sui’s October 3 unlock will release 23.38 million SUI worth approximately $27.9 million. Falcon Finance will also unlock 112.52 million FF on September 29, valued at around $15.3 million.</p><p class="text-left mb-4 ">The five unlocks have a combined estimated value of approximately $307 million. Their dollar values will fluctuate with spot prices and should therefore be treated as approximate figures.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Conferences begin in Miami, New York and Seoul</h2><p class="text-left mb-4 ">The Bitcoin Treasuries Conference will focus on corporate Bitcoin reserve strategies in New York on September 28. The program begins at 4:00 p.m. Türkiye time and will cover balance-sheet management, custody, financing and investor communications.</p><p class="text-left mb-4 ">Sibos will take place in Miami from September 28 to October 1. The event will cover payments, tokenization and artificial intelligence in finance, with Fed Governor Christopher Waller among the speakers.</p><p class="text-left mb-4 ">The main Korea Blockchain Week conference will be held in Seoul from September 30 to October 1. The program will focus on real-world asset tokenization, the integration of AI and blockchain, and layer-1 and layer-2 infrastructure.</p><p class="text-left mb-4 ">No major earnings release from a publicly traded crypto company has been confirmed for the week. The Bitcoin Treasuries Conference and Sibos will therefore carry more weight for tracking how financial companies approach digital assets.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">This week’s 29-event crypto calendar</h2><p class="text-left mb-4 ">All times are Türkiye time, UTC+3.</p><ol class="list-decimal list-inside my-4"><li>September 28, 9:00 a.m.: Upbit and Bithumb end trading support for SNX.</li><li>September 28, 3:15 p.m.: Fed Governor Michelle Bowman speaks about banking regulation.</li><li>September 28, 4:00 p.m.: Bitcoin Treasuries Conference begins.</li><li>September 28–October 1: Sibos takes place in Miami.</li><li>September 29, 7:30 a.m.: Reserve Bank of Australia policy decision; press conference at 8:30 a.m.</li><li>September 29: Approximately $15.3 million in FF unlocks.</li><li>September 29, 5:00 p.m.: US JOLTS job openings for August.</li><li>September 29, 7:40 p.m.: Fed Governor Michael Barr speaks about the economic outlook.</li><li>September 29, 8:00–8:40 p.m.: Hedera v0.77.2 mainnet upgrade.</li><li>September 29, 10:00 p.m.: Fed Governor Christopher Waller speaks about payment systems.</li><li>September 29: Voting ends on Balancer proposals BIP-928 and BIP-929.</li><li>September 30, 4:30 a.m.: China’s official September PMI data.</li><li>September 30, 3:15 p.m.: US ADP private-sector employment report.</li><li>September 30, 3:30 p.m.: US PCE inflation for August.</li><li>September 30, 3:30 p.m.: Third estimate of US second-quarter GDP and corporate profits.</li><li>September 30, 8:00 p.m.: Horizen Special Council election ends.</li><li>September 30, 9:00 p.m.: Final upgrade deadline for Base Cobalt.</li><li>September 30: Router Protocol ceases operations and burns ROUTE.</li><li>September 30–October 1: Korea Blockchain Week’s main conference.</li><li>October 1, 2:50 a.m.: BOJ Tankan survey and summary of opinions from the September meeting.</li><li>October 1: Approximately $94.7 million in CC unlocks.</li><li>October 1: Approximately $73.7 million in ENA unlocks.</li><li>October 1, 3:30 p.m.: US initial jobless claims.</li><li>October 1, 5:00 p.m.: US ISM manufacturing PMI for September.</li><li>October 1, 8:30 p.m.: Fed Vice Chair Philip Jefferson speaks about monetary policy.</li><li>October 2, noon: Euro-area flash inflation for September.</li><li>October 2, 3:30 p.m.: US September employment, unemployment and wage data.</li><li>October 2: Approximately $95.4 million in 2Z unlocks.</li><li>October 3: Approximately $27.9 million in SUI unlocks.</li></ol><p class="text-left mb-4 ">The US employment report and PCE inflation could determine the broader direction of the crypto market this week. Oil remaining above $100, the expected RBA rate increase and messages from Fed officials could also increase volatility around Bitcoin’s $83,000 price level.</p>

28 Sep 2026
SEC Crypto Guidance Clarifies Staking and Token Buybacks

SEC Crypto Guidance Clarifies Staking and Token Buybacks

<p class="text-left mb-4 ">The U.S. Securities and Exchange Commission’s (SEC) Division of Corporation Finance has published new guidance on the application of securities laws to crypto assets. The September 25 FAQs address token buybacks, liquid <a href="https://jrkripto.com/tr/category/liquid-staking" target="_blank" rel="noopener noreferrer" class="text-primary underline">staking</a> tokens, protocol development activities and promotional communications.</p><p class="text-left mb-4 ">The explanations focus on whether a protocol is functional and what commitments issuers have made to investors. The document reflects the views of division staff and does not constitute a binding SEC decision or a new regulation.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Protocol Status Is Key to Token Buyback Analysis</h2><p class="text-left mb-4 ">According to the guidance, announcing a buyback program for a non-security token in a functional crypto system does not, by itself, constitute a commitment to undertake essential managerial efforts. The explanation addresses buybacks conducted for purposes such as treasury management, reducing circulating supply and protocol-funded token burns.</p><p class="text-left mb-4 ">The assessment may differ for systems that are not yet functional. If an issuer presents a buyback as a mechanism that generates returns for token holders, the announcement could constitute a commitment to undertake essential managerial efforts.</p><p class="text-left mb-4 ">This distinction matters under the Howey test, which is used to identify investment contracts. Its elements include investors’ expectations of profits from the managerial efforts of others. The stage at which a buyback is announced and the promises accompanying it therefore influence the assessment.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Conditions Matter for Liquid Staking Tokens</h2><p class="text-left mb-4 ">The guidance also clarifies the classification of “staking receipt tokens,” which represent ownership of staked assets. Under the specified circumstances, a token representing a digital commodity that is not subject to an investment contract may qualify as a “digital tool” because it serves to establish ownership.</p><p class="text-left mb-4 ">Tokens issued by a protocol-based liquid staking provider may instead qualify as “digital commodities.” In such cases, the token must be intrinsically linked to the programmatic operation of a functional crypto system. Its value must also derive from that operation and supply-and-demand dynamics.</p><p class="text-left mb-4 ">The document further explains the limits of what qualifies as a receipt. Such an instrument must not alter the underlying asset’s rights and obligations or provide its holder with additional financial incentives beyond those associated with the asset.</p><p class="text-left mb-4 ">A staking receipt token does not independently guarantee rewards associated with the underlying asset or determine their amount. The guidance therefore does not provide an unconditional securities exemption for all liquid staking products.</p><p class="text-left mb-4 ">Some of the largest liquid staking tokens include:</p><p class="text-left mb-4 "> <figure class="my-6"> <img src="https://minio-api-1.jrkripto.com/blog/ekran-g-r-nt-s-2026-09-26-003127-0450dc47.webp" alt="Ekran görüntüsü 2026-09-26 003127.png" width="auto" height="auto" class="w-full rounded-lg border" /> </figure> </p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">How Are Maintenance and Development Activities Assessed?</h2><p class="text-left mb-4 ">According to the explanations, once a crypto system becomes functional, activities that secure, maintain or improve it do not constitute essential managerial efforts. Activities intended to increase network use and participation also fall within this scope.</p><p class="text-left mb-4 ">Sponsoring or funding development projects is among the examples provided in the guidance. A team’s continued development of a functioning protocol therefore does not, by itself, satisfy the relevant element of the Howey test.</p><p class="text-left mb-4 ">However, this assessment applies to functional systems. Commitments to complete a project that is not yet operational do not automatically fall within the same scope.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Promotional Communications and Profit Claims</h2><p class="text-left mb-4 ">The Division of Corporation Finance also addresses projects’ marketing messages. Promoting a crypto system’s existing utility and capabilities, without additional factors, is unlikely to constitute a commitment to undertake essential managerial efforts.</p><p class="text-left mb-4 ">Indefinite, aspirational statements about future features may receive similar treatment. However, those statements must not promote the potential for profit.</p><p class="text-left mb-4 ">This approach does not exclude every promotional activity from investment-contract analysis. Specific promises, the project’s circumstances and the communications as a whole remain relevant to the assessment.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Guidance Also Addresses Trading Platforms</h2><p class="text-left mb-4 ">According to the guidance, platforms that provide secondary markets for crypto assets do not automatically qualify as “promoters” simply because they facilitate trading. A platform must meet the definition of a promoter under Securities Act Rule 405.</p><p class="text-left mb-4 ">The document also states that, where a functional crypto system has no central party, subsequent statements by the issuer would generally be unlikely to create a new investment contract. The key consideration is whether the issuer or another party retains control that could affect the system’s success or failure.</p><p class="text-left mb-4 ">The FAQs build on the SEC’s March 17, 2026, interpretation concerning crypto assets and do not change existing laws or create new obligations. The document states that the Commission has neither approved nor disapproved its contents and explains how division staff interpret the existing framework.</p>

25 Sep 2026
Bitcoin ETFs Erase $5.8 Billion Deficit: Data

Bitcoin ETFs Erase $5.8 Billion Deficit: Data

<p class="text-left mb-4 ">Year-to-date net flows into U.S. spot Bitcoin ETFs have turned positive again. A cumulative net outflow of $5.8 billion in July has shifted to approximately $800 million in net inflows following purchases in recent months. These figures represent the balance between money entering and leaving the funds throughout 2026, rather than a single day’s activity.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Bitcoin ETFs Record Six Consecutive Days of Inflows</h2><p class="text-left mb-4 ">According to SoSoValue data reported on September 25, the funds recorded net inflows for six consecutive trading sessions. Total inflows over that period reached $2.84 billion.</p><p class="text-left mb-4 "> <figure class="my-6"> <img src="https://minio-api-1.jrkripto.com/blog/ekran-g-r-nt-s-2026-09-25-232404-01f1d3b3.webp" alt="Ekran görüntüsü 2026-09-25 232404.png" width="auto" height="auto" class="w-full rounded-lg border" /> </figure> </p><p class="text-left mb-4 ">Year-to-date net flows had hit a low of negative $5.8 billion on July 13. The subsequent recovery offset earlier withdrawals and brought the total back into positive territory.</p><p class="text-left mb-4 ">However, approximately $800 million in year-to-date net inflows remains below previous annual totals. U.S. spot <a href="https://jrkripto.com/tr/coin/btc" target="_blank" rel="noopener noreferrer" class="text-primary underline">Bitcoin</a> ETFs attracted $35.2 billion in net inflows in 2024 and $21.4 billion in 2025. The comparison also needs to account for the fact that 2026 is still underway.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">BlackRock Leads Inflows in the Latest Session</h2><p class="text-left mb-4 ">According to figures reported by CryptoNews, spot Bitcoin ETFs attracted $190.7 million in total net inflows on September 24. BlackRock’s IBIT accounted for the largest share, bringing in $162.6 million.</p><p class="text-left mb-4 ">Fidelity’s FBTC received $12.9 million, while Morgan Stanley’s MSBT attracted $10.2 million. Bitwise’s BITB added $4.1 million, and Franklin Templeton’s EZBC took in $4.9 million.</p><p class="text-left mb-4 ">Meanwhile, WisdomTree’s BTCW recorded $4 million in outflows. Although individual funds saw flows in different directions, the combined daily total remained positive.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Net Inflows Do Not Measure Investor Profits</h2><p class="text-left mb-4 ">The closing of the “deficit” does not mean ETF investors have recovered their losses. Net flows measure the difference between money entering and leaving funds over a given period; investor returns depend on purchase prices and changes in share values.</p><p class="text-left mb-4 ">Similarly, total assets under management and net inflows measure different things. A rise in Bitcoin’s price can increase the dollar value of a fund’s holdings without any new money entering. Treating every increase in fund assets as fresh investor demand can therefore lead to misleading conclusions.</p><p class="text-left mb-4 ">Daily trading volume is another separate measure. ETF shares changing hands on an exchange can generate substantial volume, but that activity does not necessarily represent new money entering the fund. Reading flow data alongside trading volume and total assets provides a clearer picture.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">What Do Positive Flows Mean for Bitcoin’s Price?</h2><p class="text-left mb-4 ">ETF inflows are one indicator used to track demand for Bitcoin through exchange-traded products. These funds allow investors to gain exposure to Bitcoin’s price through brokerage accounts without opening an account on a cryptocurrency exchange.</p><p class="text-left mb-4 ">However, positive net flows do not guarantee that Bitcoin’s price will rise on the same day. Selling in spot markets, changes in futures positions and broader market conditions can all influence prices.</p><p class="text-left mb-4 ">Describing total ETF inflows solely as institutional buying would also be incomplete. Retail investors can access these products too; aggregate flow figures alone do not reveal who the buyers are or how long they intend to hold their positions.</p><p class="text-left mb-4 ">The available data suggests that demand through the ETF channel has recovered compared with earlier months of the year. Assessing whether that trend will last requires monitoring whether inflows continue in subsequent trading sessions and how they are distributed across funds.</p>

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