Bitcoin ETF

Bitcoin

<p class="is-style-lead">In today’s edition of the weekly recap: Ripple files a cross-appeal in the SEC lawsuit; spot Bitcoin ETFs reach a new milestone; reports of Tether’s probe; crypto sees renewed adoption.</p> 
<h2 class="wp-block-heading" id="ripple-v-sec">Ripple v. SEC&nbsp;</h2> 
<ul class="wp-block-list"> 
 <li>Following the SEC’s appeal decision, Ripple <a href="https://crypto.news/ripple-files-cross-appeal-in-ongoing-legal-battle-with-sec/" target="_blank">filed</a> its own Form C document, seeking to cross-appeal some of the decisions made by Judge Analisa Torres in the ongoing legal battle with the securities regulator.</li> 
</ul> 
<ul class="wp-block-list"> 
 <li>Ripple CLO Stuart Alderoty <a href="https://crypto.news/ripples-chief-legal-officer-outlines-possible-outcomes-for-upcoming-sec-case/" target="_blank">suggested</a> that the appeal could either lead to the second circuit upholding Judge Torres’ decision or expanding on it. According to him, the SEC could only hope for a remand, which is unlikely.</li> 
</ul> 
<h2 class="wp-block-heading" id="bitcoin-etfs-sustain-inflows">Bitcoin ETFs sustain inflows</h2> 
<ul class="wp-block-list"> 
 <li>Amid sustained inflows, BlackRock’s iShares Bitcoin Trust <a href="https://crypto.news/blackrocks-26b-bitcoin-etf-crowned-fastest-growing-fund/" target="_blank">secured</a> the spot for the fastest-growing ETF after snagging $26 billion in capital flows over 10 months.&nbsp;</li> 
</ul> 
<ul class="wp-block-list"> 
 <li>The inflows into spot Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank">BTC</a>) ETFs continued last week despite market uncertainties, with positive <a href="https://crypto.news/spot-bitcoin-etfs-record-294m-inflows-despite-btc-retreating-below-67k/" target="_blank">net flows</a> worth $294 million on Oct. 21.&nbsp;</li> 
</ul> 
<ul class="wp-block-list"> 
 <li>As a testament to the growing institutional interest, CryptoQuant <a href="https://crypto.news/institutions-hold-13b-of-bitcoin-etf-shares/" target="_blank">confirmed</a> last week that American institutions had procured $13 billion in Bitcoin ETF shares.</li> 
</ul> 
<ul class="wp-block-list"> 
 <li>While the products <a href="https://crypto.news/spot-bitcoin-etfs-record-outflows-of-79-1m-led-by-ark-and-21sharess-arkb/" target="_blank">saw</a> outflows of $79.1 million on Oct. 22, the positive trend <a href="https://crypto.news/bitcoin-etf-inflows-resume-with-192-3m-as-btc-rebounds-from-65k/" target="_blank">resumed</a> the next day, as $192.4 million flowed into the market on Oct. 23.&nbsp;</li> 
</ul> 
<ul class="wp-block-list"> 
 <li>Bitcoin ETFs witnessed $997.6 million in net flows by the end of the week, with total flows surpassing $22 billion, a new record. Last week’s data <a href="https://crypto.news/bitcoin-etf-inflows-3-billion-demand-6-month-high/" target="_blank">brought</a> October’s total inflows to $3 billion, as demand hit a 6-month peak.&nbsp;</li> 
</ul> 
<h2 class="wp-block-heading" id="renewed-adoption">Renewed adoption&nbsp;</h2> 
<ul class="wp-block-list"> 
 <li>Developments surrounding global adoption emerged last week. Buenos Aires, the Argentine capital city, <a href="https://crypto.news/buenos-aires-adds-blockchain-based-ids-to-city-app-for-privacy-purposes/" target="_blank">adopted</a> a blockchain-based ID solution for its miBA app to protect user privacy.</li> 
</ul> 
<ul class="wp-block-list"> 
 <li>Reports suggested that traditional payment solution Stripe had <a href="https://crypto.news/stripe-reportedly-acquires-stablecoin-platform-bridge-in-1-1b-deal/" target="_blank">finalized</a> its $1 billion acquisition of Bridge, a stablecoin platform.</li> 
</ul> 
<ul class="wp-block-list"> 
 <li>Last week, technology giant Samsung <a href="https://crypto.news/samsung-integrates-blockchain-for-enhanced-security-in-ai-home-devices/" target="_blank">revealed</a> plans to bolster the security of its devices embedded within the AI home ecosystem.</li> 
</ul> 
<h2 class="wp-block-heading" id="political-movements">Political movements</h2> 
<ul class="wp-block-list"> 
 <li>As the November elections draw close, a user on Polymarket <a href="https://crypto.news/polymarket-user-bought-2m-of-yes-shares-for-kamala-harris/" target="_blank">procured</a> $2 million worth of “Yes” shares for Democratic candidate Kamala Harris, boosting her odds to 39.9%. Trump still led with a 60.1% chance.</li> 
</ul> 
<ul class="wp-block-list"> 
 <li>Meanwhile, an investigation <a href="https://crypto.news/polymarket-identifies-one-trader-driving-trump-bet-activity-on-platform/" target="_blank">found</a> that a French trader was behind a series of accounts responsible for driving the surge in Donald Trump’s odds on Polymarket, triggering market manipulation concerns.</li> 
</ul> 
<ul class="wp-block-list"> 
 <li>Per <a href="https://crypto.news/ripples-larsen-donated-11-8m-to-harris-for-new-approach-to-crypto/" target="_blank">reports</a> from crypto.news, Ripple co-founder Chris Larsen donated a total of $11.8 million to PACs supporting Kamala Harris, despite Ripple’s legal struggles with the current administration’s SEC.</li> 
</ul> 
<h2 class="wp-block-heading" id="us-government-hacked">US government hacked</h2> 
<ul class="wp-block-list"> 
 <li>In an ironic turn of events, hackers <a href="https://crypto.news/hackers-apparently-steal-20m-from-us-government-wallets/" target="_blank">stole</a> funds previously seized by the U.S. government from the Bitfinex hackers. On-chain data indicated that the malicious actors siphoned $20 million from the government’s wallet.</li> 
</ul> 
<h2 class="wp-block-heading" id="tether-under-probe">Tether under probe?</h2> 
<ul class="wp-block-list"> 
 <li>Last week, a report from the Wall Street Journal claimed Tether was under investigation by U.S. authorities for the possible usage of USDT in illegal activities.</li> 
 <li>The WSJ also alleged the U.S. Treasury was mulling the imposition of sanctions on the stablecoin issuer. Tether and its CEO Paolo Ardonio quickly <a href="https://crypto.news/tether-ceo-denies-reports-as-us-probes-and-weighs-sanctions/" target="_blank">debunked</a> the reports, suggesting no such investigation exists.</li> 
</ul> 
<h2 class="wp-block-heading" id="bitcoin-whale-uncertainty">Bitcoin whale uncertainty </h2> 
<ul class="wp-block-list"> 
 <li>With just eight days until the U.S. presidential election, movement among Bitcoin whales has significantly declined.</li> 
 <li>Data <a rel="" href="https://crypto.news/bitcoin-whales-unsure-ahead-of-us-election-large-holder-net-inflows-plunge-from-38800-to-258/">shows</a> large-holder net inflows plunged from around 38,800 BTC on Oct. 20 to 258 BTC on Oct. 26. This could indicate that whales are nervous as Election Day in the U.S., Nov. 5., approaches.</li> 
 <li>Crypto liquidations <a href="https://www.coinglass.com/LiquidationData" target="_blank" rel="nofollow">plunged</a> by 85% over the past day.</li> 
</ul> 
<p> Read more: <a rel="" href="https://crypto.news/why-ripple-betting-big-on-harris-and-shocking-everyone/"> Why is Ripple betting big on Kamala Harris and shocking everyone? </a> </p>

Bitcoin ETF inflows, Ripple v. SEC, Tether’s probe, renewed adoption | Weekly Recap

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