Significant Outflows Hit Spot BTC and ETH ETFs: News of October 9, 2024
October 8 witnessed major net outflows from spot BTC and ETH ETFs, according to Farside data. Solana also saw impressive developer activity growth this month, adding to its momentum in the blockchain space.
Spot BTC and ETH ETFs See Significant Outflows on October 8
On October 8, there was a net outflow of -$58.2 million from spot BTC ETFs (compared to an inflow of +$235.2 million during the previous trading session), as well as a net outflow of -$8.1 million from spot ETH ETFs (compared to zero flows in the previous session), according to Farside data.
Solana an Impressive Increase This October
According to Santiment, the first week of October saw Solana experiencing an impressive 10.7% increase in notable GitHub activities, placing it at the forefront of blockchain development. This marked development has not only showcased Solana's innovative capacity but also reflected positively on its market performance. Similarly, Arbitrum and Avalanche reported over 5.2% growth in their development activities, underscoring their progressive enhancements in the blockchain arena.
Peter Todd ‘revealed’ as Satoshi by HBO
Over $44M was bet on the outcome of last night's Satoshi documentary.
An eye-popping figure for a market with a known outcome.
Peter Todd was identified as the winner, which leaked a few hours early (and was also denied by him).
Notably, "Other/Multiple" (which won) was trading at just 14c on Oct 4 and just 37c on Oct 7.
So there was some nice money to be made for bettors, on an outcome which has been disputed by the named Satoshi himself said TylerD from his twitter:
Over $44M was bet on the outcome of last night's Satoshi documentary.
— TylerD 🧙♂️ (@Tyler_Did_It) October 9, 2024
An eye-popping figure for a market with a known outcome.
Peter Todd was identified as the winner, which leaked a few hours early (and was also denied by him).
Notably, "Other/Multiple" (which won) was… pic.twitter.com/S2WkCaodeN
Canary Capital Joins Bitwise in XRP ETF Race
According to the filing, the fund will track XRP's value through the CME CF Ripple dollar reference rate, a daily benchmark index price for XRP. This rate is calculated by aggregating trade data from multiple Ripple-USD markets on major crypto exchanges that meet CF Benchmark's stringent regulatory standards.
Canary Capital’s planned financial product aims to give institutional and retail investors a way to invest in XRP via traditional financial (TradFi) markets, simplifying custody, security, and regulatory concerns. The firm's interest in an XRP ETF reflects its belief in the broader potential of the crypto market, beyond just Bitcoin and Ethereum.
"We’re seeing positive signs of a more progressive regulatory landscape and growing demand for access to cryptocurrencies beyond Bitcoin and Ethereum, particularly for enterprise-grade blockchain solutions like XRP," said a Canary spokesperson.
ZachXBT Uncovers One Individual Behind 16 X (Twitter) Accounts Promoting Meme Coins
ZachXBT reported that the X account “ardizor” is linked to 16 other accounts, most displaying blue verification checkmarks. These accounts have large followings, ranging from tens of thousands to several hundred thousand followers.
The best coins for today: XMR, AERO, GT, TRX, OKB, FTM, BGB
That’s all for today.
