1. Ethereum Futures ETFs Debut in the US
On October 2, nine Ethereum futures ETFs were introduced in the United States, a first of its kind. However, the excitement didn’t translate to massive trading volumes, with all nine ETFs seeing less than $2 million in total trading volume on the first day.
The most popular was Valkyrie’s BTF, tracking a mix of Bitcoin and Ether, amassing $882,000 in volume. This was notably less compared to the debut of ProShares Bitcoin Strategy ETF (BITO) in 2021, which witnessed over $1 billion in trading volume on its first day.
2. Kenyan Authorities Concerned about Worldcoin
A parliamentary committee in Kenya urged Worldcoin to halt operations in the country due to concerns about the collection of personal data and iris scans. The committee called for a comprehensive framework for digital assets in Kenya.
3. Grayscale Seeks to Convert Ethereum Trust to Spot ETF
Grayscale Investments filed an application with the U.S. SEC to convert its Grayscale Ethereum Trust to a spot Ether ETF, following the approval of the first Ether futures ETF. This move aims to offer a more direct investment option in Ethereum, aligning with conventional investment products.
4. Surprise Price Surge for Bitcoin and Ethereum
Bitcoin and Ethereum experienced a sudden price surge, resulting in the liquidation of over $70 million in crypto shorts. This unexpected rally is attributed to “Uptober,” a term denoting historically bullish trends in October for Bitcoin and other cryptocurrencies. Market experts suggest this surge might lead Bitcoin prices to reach $30,000 in the short term.
