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Bitcoin spot ETFs see third straight day of net inflows as October turns positive

Bitcoin spot exchange-traded funds recorded $1.08 billion of net inflows over three trading sessions, turning October’s cumulative flow back to a net inflow. Net inflows on Oct. 22 totalled $528 million, following $526.6 million on Oct. 20 and $23 million on Oct. 21. October cumulative inflows reached $461 million, while year-to-date net inflows rose to $1.34 billion. BlackRock’s IBIT led inflows, while Ethereum and Solana spot ETFs also returned to net inflows.

Crypto

Polkadot launches OpenGov-based USDT-collateral stablecoin dotUSD

Polkadot has launched dotUSD, a stablecoin governed through OpenGov by holders of its native token DOT. The token starts with a structure in which it is minted by depositing USDT on a 1-to-1 basis, with DOT-collateralised lending-based issuance planned as a next step. Polkadot said dotUSD has no issuer and initially relies entirely on USDT reserves. Minting and redemption use an on-chain Peg Stability Module.

Crypto

BlackRock\'s IBIT outpaces Vanguard\'s S&P 500 ETF in cumulative return

BlackRock\'s spot bitcoin exchange-traded fund iShares Bitcoin Trust (IBIT) has surpassed Vanguard\'s flagship S&P 500 ETF in cumulative returns since its launch in January 2024. Bloomberg senior ETF analyst Eric Balchunas said IBIT slightly outperformed over the comparison period. Bloomberg data show IBIT is up 71% since inception, while Vanguard\'s S&P 500 ETF gained 66% in total return. IBIT\'s assets stand at $61.4 billion, versus about $11.0 billion for Fidelity\'s fund.