The weekly net flow for U.S. Bitcoin ETFs from October 28 to November 01, 2024, demonstrated significant activity across several funds. Notably, BlackRock’s Bitcoin ETF (Ticker: IBIT) led the gains with a substantial inflow of 34,356 BTC, underscoring robust investor interest. Fidelity’s Bitcoin ETF (Ticker: FBTC) also recorded a positive movement, adding 2,425 BTC.

Conversely, Grayscale’s GBTC (Ticker: GBTC) experienced a notable outflow of 405 BTC, and Invesco Galaxy (Ticker: BTCO) saw a similar decline, shedding 405 BTC as well. Meanwhile, Grayscale’s other fund, BTC (Ticker: BTC), had an impressive gain, receiving an inflow of 911 BTC. VanEck’s (Ticker: HODL) and Valkyrie’s (Ticker: BRRR) funds also saw healthy increases of 452 BTC and 87 BTC, respectively.

Overall, the aggregated holdings across these ETFs totaled 1,004,958 BTC, with a combined weekly net inflow of 37,628 BTC, equivalent to a market value increase of approximately $2.57 billion. This reflects a dynamic week with significant capital flows, indicating active trading and varied investor sentiment within the Bitcoin ETF sector.

Disclaimer: Market capitalizations and data can vary in real-time. The information provided here is intended purely for educational purposes and should not, under any circumstances, be construed as financial advice.

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UBS, the world’s largest private bank, announced the debut of uMINT—a new tokenized money market fund called “UBS USD Money Market Investment Fund Token” on the Ethereum blockchain. According to UBS, uMINT will give investors access to high-quality money market instruments within a carefully managed risk framework. This strategic move taps into the increasing demand for tokenized financial assets, leveraging Ethereum’s robust capabilities for asset tokenization.

Thomas Kaegi, co-head of UBS’s Asian operations, highlighted the growing investor interest in diversified tokenized assets. Ethereum, hosting over $3 billion in tokenized assets, remains the leading blockchain platform for this innovative financial approach. Currently, the blockchain ecosystem holds nearly $3.9 billion in various asset classes, excluding private credit, with U.S. Treasury Debt being the predominant category.

This development reflects a broader trend in the financial sector, where the value of assets tokenized on Ethereum has surged by almost 4% in the last month alone. With BlackRock and Franklin Templeton already establishing significant presences in this space, UBS’s uMINT is set to further revolutionize the landscape of investment opportunities through blockchain technology.

Source

21Shares has taken a significant step forward in the cryptocurrency investment landscape by filing an application with the SEC to launch a spot XRP exchange-traded fund (ETF), listed on the Cboe BZX Exchange. If approved, this initiative, with Coinbase as the custodian, will allow investors to access XRP’s market indirectly, which simplifies investing in crypto by bypassing the typical complexities of direct asset handling.

The proposed ETF, named Core XRP Trust, aims to reflect the CME CF Ripple-Dollar Reference Rate, focusing on tracking XRP’s price without employing speculative strategies like leverage or derivatives. This development follows 21Shares’ successful introduction of Bitcoin and Ethereum ETFs, highlighting their commitment to expanding secure, regulated investment options in the crypto sector.

Despite the ongoing legal nuances surrounding XRP’s status and previous SEC hesitations, Ripple CEO Brad Garlinghouse’s optimistic outlook, combined with growing institutional interest, suggests a promising future for the acceptance of XRP ETFs. This move by 21Shares could pave the way for broader, mainstream crypto adoption in the investment world.

SEC filing

Really, at this point, Coinbase is just embarrassing itself by not buying Bitcoin and doing silly buybacks.

Coinbase just had a bad quarter. After reporting disappointing Q3 earnings, its stock plunged over 10%. To instill confidence, Coinbase announced a $1 billion share buyback. But that flopped, too, with shares barely budging.

This whole debacle just shows that Coinbase is foolishly ignoring the obvious strategy here — buying bitcoin.

Instead of share…

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