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Despite the Crash, $3.17 Billion Inflows into Crypto Funds
Despite last Friday's major market crash, crypto investment products had a strong week. According to CoinShares data, digital asset investment funds recorded a total net inflow of $3.17 billion over the last seven days. This brings the total amount of money entering funds throughout 2025 to $48.7 billion, surpassing last year's record.US President Donald Trump's announcement of new tariffs on China was the driving force behind the sharp market fluctuations. This triggered a global sell-off, quickly liquidating over $20 billion in positions. However, James Butterfill, Head of Research at CoinShares, stated that Friday's panic selling had limited impact on funds: "Despite the sharp market correction, there was only a weak outflow of $159 million on Friday."Trading volumes hit recordsAnother noteworthy piece of data in the report was the record increase in trading volume. Weekly trading volume for crypto investment products reached $53 billion, with $15.3 billion in transactions on Friday alone. This figure is twice the 2025 average. However, total assets under management (AUM) decreased by 7% on a weekly basis, falling from $254 billion to $242 billion.Bitcoin funds took the leadThe highest inflows throughout the week occurred in Bitcoin-focused investment products. $2.67 billion flowed into Bitcoin funds, bringing the total inflow since the beginning of the year to $30.2 billion. However, this figure is still approximately 30% below the $41.7 billion total in 2024. Butterfill also emphasized that trading volumes reached an all-time high of $10.4 billion during Friday's price correction.Ethereum investment products also managed to close the week positively. ETH funds saw $338 million inflows, while Ethereum also experienced the largest individual loss of the week, with a single-day outflow of $172 million on Friday. Butterfill stated that investors considered Ether products "the most vulnerable asset" during the market crash. Altcoin funds slowedA significant slowdown was observed in leading altcoin investment products like Solana and XRP. Solana funds saw inflows of $93.3 million, while XRP funds saw inflows of $61.6 million. These figures were significantly lower than the previous week's massive inflows of $706.5 million and $219 million, respectively. Despite this decline, experts believe that the expected Solana and XRP ETF approvals in the US could generate new momentum in the market. However, as long as the current government shutdown continues, these approvals are likely to be delayed. Currently, at least 16 crypto ETF applications are awaiting approval from the US Securities and Exchange Commission (SEC). According to Nate Geraci, President of NovaDius Wealth Management, "a flood of spot crypto ETFs will be expected" as the government reopens.
Bitcoin and Altcoins Rebound After Historic $19 Billion Purge
Bitcoin and Ethereum have staged a remarkable recovery after the sharp decline over the weekend. The sell-off that began on Friday led to the largest liquidations in crypto history to date. However, analysts believe the bullish sentiment dubbed "Uptober" hasn't completely faded; the market is regaining its footing after a short-lived shock.$19.1 billion in cryptocurrency positions liquidatedAccording to Coinglass data, more than 1.6 million investors liquidated positions on Friday alone, closing a total of $19.1 billion. Bitcoin briefly fell below $105,000, while Ethereum fell to $3,500. This sharp decline was triggered by macroeconomic developments. China's new restrictions on rare earth exports and the US's retaliatory announcement of 100% tariffs on Chinese technology products have shaken global risk perception. This news, arriving just as markets were closed, combined with low liquidity over the weekend, led to a cascade of liquidations. Presto Research researcher Rick Maeda stated that the crash was “not a crypto-specific panic, but a macro-driven liquidation wave.” According to Maeda, the sell-offs amplified by low trading volumes over the weekend, leading to billions of dollars in forced liquidations. “A purge of this scale has de-leveraged the system. The rise we’re seeing now is a result of this mechanical process,” he said. He added that investors aren’t overly concerned about the US-China tariffs: “Polymarket data only prices in a 15% chance that these tariffs will take effect by November 1st. This suggests the market views these risks as limited.”Bitcoin at $115,000Bitcoin’s price has stabilized after the weekend’s sharp sell-off, trading at $115,220 at the beginning of the week. Ethereum is also trading at $4,163, up 0.3% in the last 24 hours. The rest of the market is also showing signs of a slight recovery; BNB rose 1.9 percent to $1.327, while XRP rose 8.2 percent to $2.59. Solana is trading around $196. The total market capitalization has risen again above $2.3 trillion, with trading volumes reaching $91.9 billion for Bitcoin and $60 billion for Ethereum. Analyst Vincent Liu interpreted this recovery as a sign of "recovering risk appetite following panic selling." According to Kronos Research's investment director, the reduction in leverage and easing of tariff concerns have "re-encouraged the market." Liu said, "Traders are currently monitoring factors such as tariffs, technical trend lines, and dollar strength to test whether Bitcoin can sustain this upward trend."Nassar Achkar, CoinW's strategy director, maintains that the "Uptober" trend is still alive. He believes investors are now focused on macroeconomic indicators, particularly the upcoming US Consumer Price Index (CPI) report and the Fed's interest rate decision, for direction. "ETF flows also indicate continued institutional interest in the market, suggesting a sustained recovery," he added.LVRG Research director Nick Ruck also noted the promising on-chain data. According to Ruck, whales have reaccumulated in many assets, particularly Ethereum. "Technical indicators are signaling a strong reversal from oversold territory. This confirms the bottoms for many altcoins," he said.Despite this, Maeda believes the scars of the market's "trauma" will not fade easily. "We are facing the largest liquidation event in crypto history. This will have a lasting impact on investor psychology. The market is now much more sensitive to macro shocks, especially the US-China trade tension," he warned.Looking at the overall picture, the crypto market is seeking stability again after a period of significant volatility. The "Uptober" sentiment has been dashed, but it hasn't completely faded. Deleveraging, on-chain buying, and institutional inflows from ETFs are creating cautious optimism in the short term. Bitcoin holding steady around $115,000 and Ethereum holding above $4,000 suggest investors are regaining confidence for now.
$5.6 Billion in Bitcoin and Ethereum Options Expires Today
Volatility in the crypto market could rise again this weekend. According to Deribit data, a total of $5.3 billion worth of Bitcoin and Ethereum options contracts are expiring today. This development both increases uncertainty about price direction and suggests that sharp market movements are possible heading into the weekend.Critical level for Bitcoin: $118,000Bitcoin options account for the majority of this massive expiration volume. A total of $4.7 billion worth of contracts are set to expire today. According to analysts, the "maximum pain" level in the market before this expiration, or the price at which option buyers incur the most losses, is around $118,000. This level is also seen as a key short-term support level for Bitcoin. Deribit data shows that Bitcoin investors' positions are split in two: one group is focused on $110,000 worth of put options, while the other maintains bullish expectations with $120,000 worth of calls. This imbalance could pave the way for sharp price movements heading into the weekend.Bitcoin's put/call ratio in the options market is currently at 1.10. This ratio suggests that investors are seeking some downside protection, but the overall outlook remains balanced.More optimistic sentiment prevails on EthereumThe outlook for Ethereum is slightly more positive. Approximately $944.5 million worth of ETH options will expire today. Ethereum's put/call ratio is at 0.90, meaning there are more buy positions than sell positions. This suggests investors believe in short-term upside potential.The maximum pain level for Ethereum is $4,400. A price hold above this level could bolster market confidence for the weekend. However, a drop below $4,300 could increase the likelihood of a short-term correction.Liquidity decreases and volatility increasesLarge-scale option expirations can cause sudden directional changes in the spot market. This is because many investors are forced to close or rebalance their positions after expiration. This, in turn, increases price volatility with high volumes of transactions on both the buy and sell sides.Glassnode's latest data reveals that Bitcoin is still trading above its short-term investor cost floor. While this suggests continued upward momentum, it also poses the risk of market overheating. According to analysts, it is critical for the price to maintain the $118,000 support level; otherwise, liquidations in leveraged positions may occur.On the Ethereum side, the increase in open interest indicates that institutional and individual investors are reshaping their market expectations. This makes determining the direction in the short term even more difficult.With the expiration of a total of $5.6 billion in options, the price of both Bitcoin and Ethereum may experience short-term sharp price movements. Historically, the market has experienced high volatility for several days following such large expiration periods. Experts predict that Bitcoin could rally back to $120,000 and above if it manages to hold above $118,000, while Ethereum has the potential to rally toward $4,750 as long as it stays above $4,400. However, a breakdown of these support levels could see further selling pressure in the market throughout the weekend.
3x Leveraged ETFs for XRP, SOL, ETH, and Bitcoin Are Coming
The crypto market is heating up again. This time, GraniteShares is taking the stage. The US-based investment company has launched a plan for 3x leveraged exchange-traded funds (ETFs) for XRP, Solana, Ethereum, and Bitcoin. This means investors will now be able to take leveraged positions on both upside and downside of these major crypto assets with up to three times the leverage. 3x leveraged ETFs are coming for four cryptocurrenciesUS-based investment company GraniteShares is taking a new step to whet the appetite of crypto investors. The company has applied to offer 3x leveraged exchange-traded funds (ETFs) based on XRP, Solana, Ethereum, and Bitcoin. These products will be designed for both long (bullish) and short (bearish) positions.GraniteShares already offers similar leveraged products for Bitcoin, Ethereum, and Solana. However, the new application promises investors much higher returns (and, of course, risk) by offering up to 3x leveraged trading, particularly for XRP. Interest in XRP ETFs ContinuesIn recent months, 2X leveraged XRP ETFs have gained significant popularity among investors. GraniteShares aims to take this trend a step further. The company's planned 3x version is designed for risk-averse investors looking to maximize price fluctuations.However, this move comes at a time when the overall outlook for the crypto market is pessimistic. The XRP price has fallen below $2.90, while Bitcoin and Ethereum are also in the red. This has dampened enthusiasm for ETF applications in the short term.Approval Process Stalled by Government ShutdownThe U.S. Securities and Exchange Commission (SEC) has temporarily suspended review of new ETF applications due to the federal government shutdown. This has led to the indefinite postponement of approval for many altcoin products, including XRP ETFs.Nevertheless, GraniteShares' persistence is noteworthy. The company was one of the first institutions to champion crypto ETFs in the past. This move could create a leadership opportunity in the "high risk, high return" segment.Leading XRP lawyer Bill Morgan responded to GraniteShares's application with humor: "I will continue to panic-buy XRP in the face of this overwhelming demand for an XRP ETF," he said. Morgan also emphasized that the application demonstrates that XRP remains among the top four cryptocurrencies, alongside Bitcoin, Ethereum, and Solana.GraniteShares's move signals continued interest in XRP from institutional investors, even as the market declines. Despite regulatory uncertainty and price weakness, leveraged ETF offerings have brought XRP back into the headlines.The market's calm comes amidst a growing influence of traditional finance (TradFi). However, if these 3X leveraged products are approved, a renewed surge of volatility and renewed retail investor interest is expected in the crypto market.In short, if GraniteShares's move is approved, it could usher in a new era for risk-averse investors—a bold step bridging the gap between crypto and traditional finance.
Grayscale Adds Staking Feature to US Ethereum ETFs
Digital asset management giant Grayscale has launched staking for its spot Ethereum ETFs in the US. According to the company, the Grayscale Ethereum Trust ETF (ETHE) and Grayscale Ethereum Mini Trust ETF (ETH) now offer investors the opportunity to earn income not only from Ether price movements but also from staking rewards.With this move, ETHE and ETH became the first spot crypto ETFs to trade on US exchanges to enable staking. Grayscale also launched staking for Solana Trust (GSOL). While GSOL is still a closed-end investment vehicle, the company has filed an application with the US Securities and Exchange Commission (SEC) to convert this product into an ETF.Grayscale stated that the staking service will be operated "passively" through professional custodians and validator partners. This will contribute to network security and validation processes while also creating long-term return potential for investors. Grayscale CEO Peter Mintzberg said in a statement, “Enabling staking in our spot Ethereum and Solana funds reflects Grayscale’s innovative approach. As the world’s largest provider of digital asset-focused ETFs, we aim to deliver tangible value to our investors through new opportunities like staking.”Crypto ETFs Gain Momentum in the USWith this development, Grayscale has achieved a significant first in the US spot crypto ETF space. Previously, in July, REX-Osprey launched its Solana-based staking ETF under the Investment Company Act of 1940. However, this product was not considered under the 1933 Act, which is generally the basis for spot Bitcoin and Ethereum ETFs. Therefore, Grayscale’s Ethereum ETFs become the first spot crypto ETFs in the US to integrate staking under the 1933 Act.Furthermore, Grayscale’s Solana product, GSOL, is expected to be one of the first spot Solana ETFs to include staking if approved. The company plans to expand staking to its other products as the digital asset ecosystem develops.This move coincides with the SEC approving general listing standards for crypto ETFs. However, the ongoing US government shutdown may further delay staking approvals, particularly for Ethereum ETFs.The price of Ethereum (ETH) rose around 1 percent in the last 24 hours to trade around $4,580, while Solana (SOL) rose 0.5 percent to $233. Recent data on institutional funds indicates that increasing institutional demand for Ethereum and Solana products is supporting this rise.
$4.3 Billion in Options Expiration on Bitcoin and Ethereum: What Awaits the Markets?
The cryptocurrency market is passing a critical juncture on the last day of the week. A total of $4.3 billion worth of Bitcoin and Ethereum options contracts will expire today. This volume has the potential to both increase price volatility and cause investors to reconsider their positions.According to options data, $3.36 billion of the expiring contracts belong to Bitcoin. Ethereum accounts for $974 million in volume. According to information from the Deribit exchange, the "maximum pain" level for Bitcoin is $115,000. This level is known as the point at which the most options contracts become worthless, and market participants are closely monitoring the possibility of a price pullback to this level. Bitcoin is currently trading above $119,000. While this strengthens the position of bullish investors, it also raises the possibility that options sellers will push the price down. A total of 27,962 Bitcoin options contracts are expiring, with a put-call ratio of 1.13. This ratio indicates that there are more put contracts than call contracts, and the market trend is slightly negative.The picture is slightly different for Ethereum. The total value of contracts expiring is $974 million. The maximum pain level in this market, which includes 216,210 contracts, is calculated as $4,200. The put-call ratio of 0.93 indicates a more neutral outlook compared to Bitcoin. However, analysts note that volatility on the Ethereum side has decreased significantly in recent weeks, and investor interest has shifted to Bitcoin.$21 billion was on the agenda last weekLast week, the record $21 billion monthly options expiration significantly shook the markets. While this week's figures remain well below that level, they still have the potential to create volatility. Bitcoin's price, in particular, being just above the critical $120,000 level, indicates that the price is vulnerable to sharp fluctuations in the short term. Options analytics platform Greeks.live describes the current market environment as "extremely volatile and difficult to determine direction." According to analysts, intraday movements exceeding 3% are frequently observed, catching many investors off guard. It has become particularly common for short-term options contracts, which experienced 80% losses in the morning, to reverse course in the afternoon, leaving investors in the wrong position.Ethereum, on the other hand, is notably low in volatility. Consequently, many traders are aiming to capitalize on short-term sideways movements by selling ETH puts and buying Bitcoin calls at $120,000. This strategy is based on the expectation that the market will not make a significant breakout.In short, today's $4.3 billion options expiration will test Bitcoin's ability to sustain the $120,000 level. For Ethereum, the price is expected to remain relatively calm due to low volatility. However, it's important to remember that maximum pain levels for both assets can act as a "center of gravity" in the market.
Citigroup Revises Ethereum and Bitcoin Forecast
Global financial giant Citigroup has updated its year-end forecast for the cryptocurrency market. Driven by strong institutional demand and inflows from exchange-traded funds (ETFs), the bank revised its price target for Ether upwards, while making a small downward adjustment to its Bitcoin forecast.Citigroup Releases New Report on Bitcoin and EthereumAccording to Citigroup's new report, the year-end price target for Ether has been raised from $4,300 to $4,500. The bank stated that this increase was driven by increasing institutional demand, particularly through spot ETFs, and strong inflows from digital asset treasuries. This development demonstrates that confidence in the Ethereum ecosystem and liquidity inflows remain vibrant.In contrast, the revision for Bitcoin paints a relatively more cautious picture. Citigroup lowered its year-end price forecast for Bitcoin from $135,000 to $133,000. Bank analysts pointed to the strengthening dollar index and recent weakening gold prices as the reasons for this downward correction. It was stated that these two factors could limit investors' risk appetite.However, we are seeing Bitcoin moving in the opposite direction of Citigroup's prediction. Market data shows that Bitcoin is holding above $118,000, and trading volumes have increased by 32% to over $77 billion. While this outlook indicates continued interest in the market, analysts are debating whether the strong resistance level at $124,000 can be broken. The Latest on the Bitcoin RallySpot Bitcoin ETFs are the primary driver of this rally. Exceeding $150 billion in assets under management and daily inflows of hundreds of millions of dollars are creating a supply-squeeze effect in the market. For example, $741 million inflows were recorded into ETFs on September 11th. Such flows continue to support the Bitcoin price. However, it is emphasized that if inflows slow, the upside potential could be limited.On the macroeconomic front, the US Federal Reserve's (Fed) upcoming interest rate decision is the focus of markets. The unemployment rate rose to 4.3% in August, increasing the likelihood of a 25 basis point interest rate cut at the meeting on October 29th. Lower interest rates generally lead to a weakening of the dollar and increased demand for risky assets. Therefore, many analysts believe the Fed's policy could play a critical role in Bitcoin prices.Meanwhile, on-chain data shows that large investors (whales) continue their purchases. A single wallet was recorded to have accumulated approximately 1,721 BTC (approximately $196 million) in September. Long-term investors are reported to control 67% of the total supply. This trend could reduce market liquidity and push prices higher. However, whales' focus on profit-taking risks increasing volatility, as was the case during the 2021 peak. Ultimately, Citigroup's report suggests a stronger outlook for Ethereum driven by institutional investor interest, while cautious optimism prevails for Bitcoin. For the rest of the year, the Fed's interest rate action, whether ETF inflows slow down, and whale activity will be key factors in determining the crypto market's direction.
SEC Greenlights Crypto: State Trusts Grant Custody Authority
The U.S. Securities and Exchange Commission (SEC) has made a significant decision regarding digital assets. In a no-action letter, the agency announced that investment advisors can use state-licensed trust companies as "qualified custodians." This decision paves the way for institutional investors to store crypto assets like Bitcoin and Ethereum more securely and legally. A Solution to Long-Term UncertaintyFor years, one of the biggest challenges for investment advisors has been the uncertainty surrounding which institutions can hold digital assets. Traditional regulations have deemed only large federal banks and certain large corporations authorized for custody. The SEC's new approach allows state-licensed trust companies to offer the same custody services, provided they meet strict oversight and security requirements.This step allows advisors under the Investment Advisers Act of 1940 to hold crypto assets under regulated conditions, just as they do with cash and securities. However, companies must adhere to strict requirements such as cold storage, independent auditing, cybersecurity measures, and the separation of client assets from company funds.Initial Industry ReactionsBloomberg Intelligence analyst James Seyffart described the decision as "a textbook example of the clarity expected for the digital asset space." According to Seyffart, the industry has long been demanding this recognition. In the US, banks were indirectly pressured to limit their services to crypto companies in recent years during a process known as "Operation Choke Point 2.0." This new decision demonstrates a softening of the regulator's approach and their intention to integrate crypto into the financial system in more structured ways.Some states, such as Wyoming, had already pioneered similar regulations for crypto assets years ago. Senator Cynthia Lummis welcomed the SEC's move in a social media post, saying, "Wyoming was a pioneer in digital asset oversight in 2020. It's gratifying that the SEC has recognized this approach at this point." New Opportunity for Bitcoin and EthereumThe decision could facilitate institutional investors' access to cryptocurrencies. Bitcoin's positioning as "digital gold," in particular, is further strengthened by this development. Considering that gold is already a standard asset class in regulated funds, a similar inclusion of Bitcoin and Ethereum in portfolios seems more likely.Once the "custodial uncertainty," one of the biggest obstacles for institutions, is eliminated, investment funds and advisors are expected to be more comfortable investing in Bitcoin and Ethereum. This could, in the long run, contribute to accelerating ETF approvals, diversifying institutional strategies, and increasing market confidence.The SEC emphasized that the published letter is not a formal change in the law, but merely reflects the agency's current "enforcement position." Therefore, the decision is subject to revision if circumstances change in the future. Investment advisors are required to disclose risks to their clients and confirm annually that their custodian is authorized.
SEC Approval: BTC, ETH, XRP, SOL, and XLM Officially Included
The U.S. Securities and Exchange Commission (SEC) has officially approved the Nasdaq Crypto Index US ETF (NCIQ), launched by Hashdex. Thanks to the new regulation, the fund will not only offer Bitcoin (BTC) and Ethereum (ETH) but will also be able to add leading altcoins such as XRP, Solana (SOL), and Stellar (XLM) to its portfolio. This decision is seen as a significant milestone in diversifying regulated crypto investment instruments.Hashdex's ETF was established in Delaware, and last week, a new trust agreement, revised for the third time, entered into force. This brings the fund into compliance with Nasdaq's current listing standards. With the SEC approval, the fund's fiscal year structure remains unchanged, but it has gained official authorization to add altcoins such as XRP, SOL, and XLM.New Rules Bring Expedited ApprovalThe SEC recently adopted new rules that expedite the listing process for crypto ETFs. While it could previously take up to 270 days for an ETF to receive approval, the new standards have reduced this timeframe to 75 days. This eliminates the need for individual reviews during the application process. Now, funds that meet certain requirements can launch directly to the market much sooner.Canary Capital Group founder Steven McClurg stated that there have already been approximately a dozen applications filed with the SEC, with more in the pipeline, adding, "We'll see a wave of launches in the last quarter of this year." DGIM Law's Jonathan Groth also stated that the crypto ETF market could experience a "boom period" starting in October.The fund's new allocation is noteworthy.The updated fund allocation maintains a strong emphasis on BTC and ETH, allocating 6.93% to XRP, 4.11% to Solana, and 0.33% to Stellar. Projects such as Cardano (1.22%), Chainlink (0.50%), and Uniswap (0.14%) are also included in the portfolio in small percentages. This makes the Hashdex ETF one of the first funds to officially include Stellar (XLM). Crypto market expert Nate Geraci, in a social media post, described the SEC's approval as "a significant development that paves the way for diversification in crypto investment." While the majority of users welcomed the decision, some commentators emphasized that adding altcoins to ETFs would foster broader market acceptance.The SEC's new standards allow funds to be approved quickly if they meet certain conditions. For example, the listed crypto asset must have at least six months of CFTC-regulated futures contracts or another ETF must directly hold 40% of that asset. This has enabled projects like XRP, SOL, and XLM to quickly become part of the regulated investment vehicle.Grayscale also took action shortly after the SEC's announcement, converting its private fund into a publicly traded product, the CoinDesk Crypto 5 ETF. This ETF includes BTC, ETH, XRP, SOL, and ADA. Grayscale CEO Peter Mintzberg stated that the swift action stemmed from "the goal of providing greater regulatory clarity and investor access."Crypto market analysts expect ETFs focused on XRP and Solana to launch in October. However, the real question is whether investors will genuinely show interest in these altcoins beyond Bitcoin and Ethereum. The SEC's recent decision has been noted as one of the most significant steps in the opening of altcoins to traditional markets.
Nasdaq-Listed Chinese Company to Buy $1 Billion in BTC, ETH, and BNB
Jiuzi Holdings Inc. (JZXN), a Nasdaq-listed China-based electric vehicle retailer, attracted attention with its announcement on Wednesday. The company announced that it will invest up to $1 billion of its cash reserves in select cryptocurrencies under its new "Crypto Asset Investment Policy," approved by its board of directors.The Chinese company focuses on three cryptocurrenciesIn the first phase of the policy, investments will be limited to Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB). The company's move is considered a strategic step aimed at long-term value preservation and hedging, rather than a speculative entry into the crypto market. Management also announced that the assets will not be held in-house but will instead be secured through professional custodians.Jiuzi's decision stems from the addition of a crypto industry veteran to the team. Doug Buerger, who recently took over as the company's chief operating officer (COO), will take a leading role in the new policy. Buerger stated, “Our goal is not to engage in short-term trading. We view crypto assets as long-term stores of value and hedges against macroeconomic uncertainties.”A “Crypto Asset Risk Committee” has also been established to implement the policy. This committee, led by CFO Huijie Gao, will oversee the progress of investments within the established framework and regularly report to the board of directors.Following the announcement, Jiuzi Holdings shares surged. JZXN shares, traded on Nasdaq, gained over 55% in pre-market trading. This investor response was driven by the company's aggressive growth strategy and its willingness to use its cash reserves more effectively. CEO Tao Li described the new policy as “a proactive step to protect and enhance long-term shareholder value.” According to Li, this initiative will not only diversify the company's financial strength but also pave the way for an innovative model that integrates traditional business practices with the crypto ecosystem. Recently, the number of US-listed companies turning to crypto investments has been increasing. The trend, initiated by MicroStrategy's Bitcoin purchases, is leading to an increasing number of companies holding crypto assets.
Ethereum's Critical Date Announced: All Eyes on December 3rd
Ethereum developers have officially announced a new upgrade plan aimed at increasing the network's scalability. The upgrade, dubbed "Fusaka," is planned to be integrated into the mainnet on December 3, 2025. This process will begin with trials on three different testnets in October. If the tests on the Holesky, Sepolia, and Hoodi testnets proceed smoothly, one of Ethereum's most significant updates will be implemented by early December. Ethereum All Eyes DecemberThe Fusaka upgrade aims to further advance Ethereum's "blob" structure, introduced with the Dencun update implemented in March. Blobs, which allow for more efficient storage of transaction data on the blockchain, play a critical role, particularly in reducing the costs of layer-2 (rollup) networks. Therefore, Fusaka is seen as a significant step in the Ethereum ecosystem's scalability journey.Following the upgrade, two small-scale hard forks, called "Blob Parameter Only" (BPO), are planned. The first BPO update will go live one week after Fusaka and will increase the blob capacity from 6/9 to 10/15. The second BPO, which follows, will increase the capacity to 14/21. This will increase transaction efficiency by providing Ethereum with much larger data storage for layer-2 solutions. This phased transition will maintain developers' goal of secure scalability while not requiring any additional client software updates on the user side.The Ethereum Foundation is also taking additional steps to enhance security ahead of Fusaka. The security competition on the Sherlock platform, announced on September 15th, encourages developers to identify potential vulnerabilities with a $2 million prize pool. The four-week competition will serve as an important security shield for Fusaka's safe migration to the mainnet.Meanwhile, there will be changes to the testnet infrastructure. The Holesky network is planned to be decommissioned two weeks after Fusaka's implementation. This decision was made following technical difficulties encountered during the Pectra update, which went live in May. According to Ethereum researcher Christine Kim, new BPOs are also on the agenda for the post-Fusaka era. This suggests that Ethereum will continue to gradually increase capacity until the planned "Glamsterdam" upgrade in 2026.The Pectra update introduced significant changes to staking and account abstraction in May. Fusaka and the BPO series are expected to mark a new era in Ethereum's scaling journey. Developers expect the increased transaction capacity to both reduce user costs and make Ethereum more attractive for DeFi and enterprise use.
SEC Postpones Decision on Ethereum and 2 Altcoin ETFs Again
The U.S. Securities and Exchange Commission (SEC) has once again extended the decision process for new ETF applications, which the crypto market has been eagerly awaiting. The regulator announced that it needed additional time to review applications for staking-enabled ETFs, particularly those planned for Ethereum. Applications from major financial institutions such as BlackRock, Fidelity, and Franklin Templeton were affected by the decision. The XRP and Solana ETFs were also put on hold.Staking Uncertainty in Ethereum ETFsIn documents published by the SEC on Wednesday, it was stated that its review of several Ethereum ETF applications, including BlackRock's iShares Ethereum Trust, is ongoing. The key difference of these ETFs is that they will offer investors the opportunity to generate additional income through staking. As you may recall, an opinion letter published by the SEC in May stated that certain blockchain staking activities do not fall within the scope of securities. This statement created expectations in the markets that staking could be approved for ETFs. However, the SEC recently postponed Grayscale's request to add staking to its Ethereum ETF. Recent decisions indicate that the regulator has still not taken a clear stance on this issue.XRP and Solana ETFs also on holdFranklin Templeton's proposed XRP and Solana-focused spot ETFs suffered the same fate. The company submitted its application in March, but the SEC extended the process for these products as well. This has once again delayed the launch of products that would provide institutional investors with access to assets other than Bitcoin and Ethereum in the crypto market.Still, market participants are hopeful. Bitwise CIO Matt Hougan stated that they expect a strong performance for Solana, particularly towards the end of the year, and that ETF approvals could accelerate this process. In addition to Franklin Templeton, institutions such as Grayscale, VanEck, Fidelity, Invesco/Galaxy, and Canary Capital have also submitted applications for the Solana ETF. More than 90 ETF applications are on the tableAccording to data compiled by Bloomberg Intelligence analyst James Seyffart, more than 90 crypto ETF applications are currently before the SEC. McKayResearch founder James McKay stated in a post on the social media platform X, "At this rate, we will see an ETF application for each of the top 30-40 cryptocurrencies within 12 months." The increase in ETF applications demonstrates the continued appetite of traditional financial institutions for cryptocurrencies. Staking, in particular, is attracting significant interest because it offers investors an additional source of income. However, the SEC's delaying policy continues to create uncertainty in the markets in the short term.The SEC's decision to delay the application once again demonstrates the challenging nature of the crypto ETF process. Staking on Ethereum could make investment products more attractive than ordinary funds. However, this very innovative feature is causing the regulator to take its decisions slowly.
Institutional Mobility in Ethereum: $40 Million in Funding, $65 Million in ETH Purchases
BitMine Immersion Technologies, the largest institutional buyer of leading altcoin Ethereum (ETH), announced its new acquisition. The company purchased $65 million worth of ETH for its Ethereum treasury. This marked the first purchase of September.BitMine Continues Ethereum AcquisitionBitMine, which continued to add assets to its Ethereum treasury in September, completed this acquisition in six transactions. According to tracking data from Arkham Intelligence, these transactions were finalized through Galaxy Digital's over-the-counter services. BitMine's acquisition comes at a particularly interesting time, as Ethereum reserves on centralized exchanges have fallen to their lowest levels in three years. It's also worth noting that Ethereum supply on exchanges has eroded by 38 percent since 2022. This is believed to be driven by institutional treasury purchases and exchange-traded funds (ETFs). BitMine shares are also being affected by these developments. The company's shares have gained 540% since the beginning of the year, rising 5.58% to $44.86 at the latest close. However, the shares have also declined approximately 67% since their peak in July.Other companies are also buying ETHCrypto-focused consulting firm Etherealize announced that it has closed a new $40 million investment round as part of its efforts to introduce Ethereum to Wall Street.The investment round was led by leading crypto venture capital firms such as Electric Capital and Paradigm. With this funding, Etherealize aims to develop tools and infrastructure to increase Ethereum's institutional adoption.Founded in January with the support of the Ethereum Foundation and Ethereum co-founder Vitalik Buterin, the company argues that the financial world, in particular, is still insufficiently informed about ETH and blockchain technology. The company plans to provide training, consulting, and technical infrastructure solutions to address this gap. Danny Ryan, co-founder of Etherealize, stated that Ethereum has evolved from an experimental project into "the world's most tested open finance network" over the past decade. Ryan stated that with the funds they have raised, they will work to make the traditional financial system more secure and globally accessible.Year-end ETH forecast: Is $6,000 possible?Nick Forster, founder of crypto options platform Derive, argues that these developments could have a significant impact on the ETH price. According to Forster, if a rate cut is made in the near term and institutional buying continues, the probability of ETH reaching $6,000 by the end of the year could be as high as 44%.Similarly, Tom Lee of Fundstrat argues that ETH could reach $60,000 in the long term. Lee believes that Ethereum's integration with institutional finance could be a significant turning point, similar to the economic transformation of 1971.
Daily Market Summary – August 20, 2025 | JrKripto
You can find today’s edition of “Daily Market with JrKripto” below, featuring a roundup of the most important developments from both global and local markets. Let’s analyze the broader market sentiment and latest insights together.Bitcoin and Ethereum Technical OverviewBitcoin has been on a downward correction for some time, falling to the $113,000 region. It's safe to say it found short-term support in this region, but in a downward breakout scenario from the $112,000-$113,000 area, the $111,800 level and then the $107,300 support level are potential price reversal levels. It's worth noting that the $117,300 area is the target target after the recovery.On the Ethereum side, after a breathless rise to the $4,800 region, we see it's undergoing a natural pullback. The $4,050, $3,980, and $3,870 levels serve as sequential support levels. The $4,400 area will be the price's first target upon reversal.Crypto NewsThe U.S. Treasury Department has begun gathering public input on the GENIUS Act, which aims to detect illicit digital asset activity. Tether appointed former White House Crypto Council Executive Director Bo Hines as Strategic Advisor for Digital Assets and US Strategy.Robinhood US to list #SUITrump: Europeans want to end the war with Ukraine and Russia.KindlyMD purchased $5,744 BTC to expand Nakamoto's Bitcoin treasury.SharpLink purchased 143,593 ETH at approximately $4,648, bringing its total holdings to 740,760 ETH.SEC Chairman Paul Atkins will discuss the 'Crypto Project' at the WYOMING Blockchain Symposium today.Fed member Bowman: Fed employees should be allowed to own small amounts of crypto assets.CryptocurrenciesTop GainersM → Up 16.8% to $0.43772063CTC → Up 9.6% to $0.74369425GRASS → Up 8.9% to $0.78576644PUMP → Up 5.4% to $0.00300329HNT → Up 5.3% to $2.68Top LosersSNEK → Down 13.3% to $0.00450101TRIBE → Down 9.9% to $0.59775806ZORA → Down 9.2% to $0.09269117REKT → Down 8.6% to $0.07659167ADA → Down 8.5% to $0.84855968.Fear IndexBitcoin: 50 (Neutral)Ethereum: 49 (Neutral)DominanceBitcoin: 59.87% ▼ 0.36%Ethereum: 13.32% ▲ 1.28%Total Daily Net ETF InflowsBTC ETFs: -$523.30 MillionETH ERFs: -$422.20 MillionGlobal Markets and Stocks of the Most Valuable CompaniesTechnology companies in the US have surged significantly in recent months, but warnings are now coming that these levels are risky. As expectations for a Fed interest rate cut weakened, tech stocks began selling off, and all US stock markets declined. Expectations that the Russia-Ukraine talks will be prolonged further exacerbated these declines. US, European, and Asian stock markets were generally negative this morning. While positive talks between Trump, Zelenskyy, and EU leaders yesterday supported European stock markets, the impact of the US sell-off is dampening global risk appetite. The Fed meeting minutes will be released today, and inflation data from the UK, Germany, and the Eurozone will be closely monitored.NVIDIA (NVDA) → $4.29 trillion market capitalization, $175.64 per share, fell 3.50%.Microsoft (MSFT) → $3.79 trillion market capitalization, $509.77 per share, fell 1.42%.Apple (AAPL) → $3.42 trillion market capitalization, $230.56 per share, fell 0.14%.Alphabet (GOOG) → $2.44 trillion market capitalization, $202.49 per share, fell 0.88%. Amazon.com (AMZN) → $2.43 trillion market capitalization, $228.01 per share, fell 1.50%.Borsa Istanbul Updates and Most Valuable CompaniesAccording to data released by TÜİK (Turkish Statistical Institute), the unemployment rate rose to 8.6% quarterly. The idle labor force reached a record high of 32%. While employment decreased in industry and agriculture, services and construction saw increases. Turkey's net foreign investment position was -$329.4 billion in June. The BIST-100 index closed positive for the third consecutive day with a limited increase, but failed to surpass the 11,000 level. Trading volume reached its highest level in recent years. Food retailers were negatively impacted, while automotive and iron/steel sectors stood out. The US decision to increase tariffs on iron/steel and aluminum is dampening global risk appetite. Markets are also awaiting the Fed Chair's announcements on Friday. The BIST is expected to remain tight. QNB Finansbank (QNBTR) → Market capitalization of 2.39 trillion TL, price per share of 714.50 TL, decreased by 9.96%.Aselsan Elektronik Sanayi (ASELS) → Market capitalization of 786.14 billion TL, price per share of 177.20 TL, increased by 2.78%.Türkiye Garanti Bankası (GARAN) → Market capitalization of 600.60 billion TL, price per share of 144.40 TL, increased by 0.98%.Turkish Airlines (THYAO) → Market capitalization of 467.13 billion TL, price per share of 338.50 TL, changed by 0.00%.Koç Holding (KCHOL) → Market capitalization of 454.69 billion TL, price per share of 179.70 TL, increased by 0.22%.Precious Metals and Currency PricesGold: 4,363 TLSilver: 48.93 TLPlatinum: 1738 TLDollar: 40.92 TLEuro: 47.63 TLWe look forward to bringing you the latest updates again tomorrow.
Daily Market Summary – August 19, 2025 | JrKripto
You can find today’s edition of “Daily Market with JrKripto” below, featuring a roundup of the most important developments from both global and local markets. Let’s analyze the broader market sentiment and latest insights together.Bitcoin and Ethereum Technical OverviewAs it did yesterday, Bitcoin continued its decline after the ATH, falling to the $115,000 region. We can say it found short-term support in this region, but in a downward breakout scenario from the $114,000-$115,000 area, the $111,800 level and then the $107,300 support level are potential reversal levels. It's worth noting that the $117,300 area is the target area after a recovery.On the Ethereum side, we see that after a breathless rise to the $4,800 region, it is undergoing a natural pullback. The $4,250, $4,180, and $4,070 levels serve as sequential support points. The price will target the $4,400 area during the initial price reversal.Crypto NewsSouth Korea's financial regulator will submit its stablecoin regulatory proposal in October.BitMine announced last week that it purchased more than 370,000 ETH ($1.6 billion), bringing its total ETH holdings to 1,520,000 ($6.5 billion).Microstrategy purchased 430 BTC.The SEC postponed applications for the Truth Spot Bitcoin and Ethereum ETFs.The Trump administration is in talks to acquire a 10% stake in Intel.The U.S. Treasury Department has begun collecting public input on the GENIUS Act, which is intended to detect illicit digital asset activity.CryptocurrenciesTop GainersBIO → Up 10.0% to $0.13612067OKB → Up 9.1% to $125.47WEMIX → Up 9.1% to $0.87168974TRIBE → Up 8.5% to $0.66552645AB → Up 8.0% to $0.00960592Top LosersUSELESS → Down 12.8% to $0.25979181M → Down 11.3% to $0.37503649PUMP → Down 11.0% to $0.00282301HNT → Down 6.6% to $2.51KTA → Down 6.5% to $1.23.Fear IndexBitcoin: 59 (Greed)Ethereum: 46 (Neutral)DominanceBitcoin: 59.88% ▲ 0.21%Ethereum: 13.33% ▼ 0.83%Total Daily Net ETF InflowsBTC ETFs: -$14.10 MillionETH ETFs: -$59.30 MillionGlobal Markets and Stocks of the Most Valuable CompaniesGlobal markets are monitoring the ongoing peace talks regarding the Russia-Ukraine war. While no concrete steps have been taken, there is talk of a Putin-Zelenski meeting within two weeks. Following yesterday's Trump-Zelenski-EU leaders meeting, Trump stated that the talks with European leaders were positive and that preparations for a trilateral summit have begun. Putin's advisor, however, stated that only the idea of a summit is being considered. Global stock markets are trading mixed this morning; US futures are slightly down, while European futures are slightly up. July housing starts and building permits data will be released in the US today.NVIDIA (NVDA) → $4.44 trillion market capitalization, $182.01 per share, up 0.86%.Microsoft (MSFT) → $3.84 trillion market capitalization, $517.10 per share, down 0.59%.Apple (AAPL) → $3.43 trillion market capitalization, $230.89 per share, down 0.30%.Amazon.com (AMZN) → $2.47 trillion market capitalization, $231.49 per share, up 0.20%.Alphabet (GOOG) → $2.47 trillion market capitalization, $204.29 per share, down 0.30%.Borsa Istanbul Updates and the Most Valuable CompaniesThe domestic housing price index increased by 0.9% month-on-month in July, reaching a 32.8% annual increase, while declining by 0.5% in real terms. Prices rose by 0.6% in Istanbul, 1.2% in Ankara, and 1% in Izmir. Annual increases were 33.5%, 42.9%, and 31%, respectively. The Bloomberg HT Consumer Confidence Preliminary Index rose by 2.36% in August to 71.71. While buying in stocks that had lagged in previous weeks was evident yesterday on the BIST, profit-taking continued in bank stocks, and the index closed slightly higher but below the 11,000 level. A flat trend is expected on the BIST today.QNB Finansbank (QNBTR) → 2.39 trillion TL market capitalization, 714.50 TL per share, fell by 9.96%. Aselsan Electronics Industries (ASELS) → Market value of 782.95 billion TL, price per share of 170.30 TL, decreased by 0.82%.Türkiye Garanti Bankası (GARAN) → Market value of 592.20 billion TL, price per share of 142.10 TL, increased by 0.78%.Turkish Airlines (THYAO) → Market value of 460.92 billion TL, price per share of 333.25 TL, decreased by 0.22%.Koç Holding (KCHOL) → Market value of 455.19 billion TL, price per share of 180.90 TL, increased by 0.78%.Precious Metals and Currency PricesGold: 4384 TLSilver: 49.97 TLPlatinum: 1761 TLDollar: 40.89 TLEuro: 47.72 TLWe look forward to bringing you the latest updates again tomorrow.
