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Crypto

Grayscale launches in-kind transfers for crypto ETPs covering BTC, XRP and others

Asset manager Grayscale has introduced an in-kind transfer feature that allows investors to exchange cryptocurrencies they hold for shares of its exchange-traded products without converting them into cash. The feature initially applies to 10 Grayscale crypto ETPs, covering products linked to bitcoin, ethereum, solana, XRP and others. Minimum investment amounts vary by product and stock price. Grayscale said the approach can reduce self-custody burdens and transaction costs.

Crypto

Thailand moves to launch first crypto ETFs; CoinShares sees limited early inflows

Thailand is set to allow Bitcoin and Ethereum spot exchange-traded funds to list on the Stock Exchange of Thailand from Oct. 17, opening access for local retail investors. Digital asset manager CoinShares said initial inflows into the first products are likely to be in the tens of millions of dollars, rather than billions. It said additional approvals, custody and distribution arrangements are still required before trading can begin.

Crypto

Bitcoin spot ETFs see outflows of $729 million over two days

Bitcoin spot exchange-traded funds swung to large net outflows in the first week of October. Net withdrawals totalled $678.9 million from Oct. 5 to Oct. 9, reversing the prior week’s $241.1 million inflow. The pullback partly reversed September’s recovery, when $2.98 billion flowed in over seven sessions through Sept. 25. Outflows were concentrated on Oct. 7 and Oct. 8, totalling $729 million, led by products from BlackRock and Fidelity.