Bitcoin reached a new all-time high as the effects of Uptober take over. In such a conducive environment, Grayscale launched its first-ever staking ETP. It’s just the beginning of what happened today. Keep reading to get more information.
Grayscale launches first-ever staking ETP
In a remarkable move, Grayscale Investment just launched the first-ever Exchange Traded Products (ETP) with staking capabilities. The investment firm launched the first ETP that allows staking Ethereum and Solana. The ETPs are directly attached to the underlying assets ETH and SOL.
A crypto ETP with staking lets investors buy a regulated stock-market product that represents a staked cryptocurrency like Ethereum or Solana —
combining price exposure + staking rewards, without the need to manage crypto directly.
European Union market expands its purview over crypto
The European Union market regulator is expanding its oversight into the crypto market. As such, crypto exchanges and other operators will fall under the purview of the regulator, which also aligns with the Markets in Crypto-Assets (MiCA) framework.
Speaking to the Financial Times in an interview, Verena Ross, chair of the European Securities and Markets Authority (ESMA), stated that the European Commission is making plans to transfer the supervision of several financial sectors, including crypto, from national regulators to ESMA.
Bitcoin hits a new all-time high
On the weekly chart, Bitcoin was making higher highs and higher lows as the bulls took over the market. With the US government shutdown prolonged, the crypto market is flourishing. Bitcoin gained almost 10% in the past week and analysts predict that the token could reach at least $150K by the end of the year.
$240 million worth of positions liquidated
During the past 24 hours, more than $240 million in positions were liquidated. Around $173 million worth of short positions were liquidated while more than $72 million worth of long positions were wiped away from the market within the past 24 hours. However, today, liquidation shows a gradual reduction from yesterday.
BlackRock ETF sets a new record
ETF analyst Eric Balchunas stated that BlackRock’s $IBIT ETF is the fastest ETP to hit $100 billion in Asset Under Management (AUM) despite being one of the newest in the market.
Market staggers in the neutral zone
The Fear and Greed Index has been repeatedly fluctuating around the 58 and 59 (neutral zone), but has never crossed into the greed zone above 60. This indicator, which measures the sentiment of traders, goes on to say that traders haven’t yet gone into the fierce buying mode. However, with the market flourishing, the indicator will display bigger numbers in the coming days.
Swiss authority launches probe into FIFA
Switzerland’s gambling authority, Gespa, is probing whether the soccer body FIFA complied with the gambling laws with the “Right-to-Buy” blockchain collectibles.
With the “right-to-buy” (RTB) collectibles, users have the option to purchase tickets to the upcoming 2026 World Cup to be hosted in North America. The collectibles are initially sold directly by FIFA; however, they could also be sold in the secondary marketplace.
Galaxy launches financial app
Galaxy Digital’s new financial app, GalaxyOne, will offer one platform for traders to earn yields on their crypto, cash, and equity of US-listed companies. Users can earn upto 4% APY, while accredited investors can earn up 8% APY.
As the markets evolve and the real force behind Uptober takes over, there will be more new all-time highs registered. The market is currently calm, but eventually the volatility will increase.
