Morning News | Bitwise Solana Staking ETF to Launch on Tuesday; Citigroup Partners with Coinbase to Offer Stablecoin Payment Services
Overview of Important Market Events on October 27Organizer: Zhou, ChainCatcher
Important News:
- Ethereum financial company ETHZilla sells $40 million ETH to advance $250 million stock buyback plan
- Bitwise Solana Staking ETF to be listed on the New York Stock Exchange on Tuesday
- Probability of a 25 basis point rate cut by the Federal Reserve in October reaches 97.3%
- Citi partners with Coinbase to explore stablecoin payment services for clients
- CZ: Future focus will be on YZi Labs investment business, while also invited to serve as a crypto industry advisor to heads of multiple governments
What important events happened in the past 24 hours?
Ethereum financial company ETHZilla sells $40 million ETH to advance $250 million stock buyback plan
According to ChainCatcher, The Block reports that Ethereum financial company ETHZilla (ticker ETHZ) has sold approximately $40 million worth of Ethereum holdings to buy back stock. The ETHZilla board authorized a stock buyback plan of up to $250 million in August. Since selling Ethereum on October 24, ETHZilla has spent about $12 million to repurchase approximately 600,000 shares of common stock.
Bitwise Solana Staking ETF to be listed on the New York Stock Exchange on Tuesday
According to ChainCatcher, asset management company Bitwise announced on the X platform that it will launch the Bitwise Solana Staking ETF on the New York Stock Exchange on Tuesday, with the stock ticker BSOL.
The company stated that this is the first ETP "100% directly invested in spot SOL." Meanwhile, other companies are also planning to launch a series of cryptocurrency ETFs. Canary Capital plans to list its Litecoin ETF and HBAR ETF on Nasdaq on Tuesday. An insider indicated that the Grayscale Solana Trust ETF is scheduled to be listed on Wednesday.
Probability of a 25 basis point rate cut by the Federal Reserve in October reaches 97.3%
According to ChainCatcher, Jinshi reports that CME's "Fed Watch" shows that the probability of a 25 basis point rate cut by the Federal Reserve in October is 97.3%, while the probability of maintaining the current rate is 2.7%. Additionally, the probability of a cumulative 50 basis point rate cut in December is 95.3%.
Citi partners with Coinbase to explore stablecoin payment services for clients
According to ChainCatcher, Bloomberg reports that Citigroup and Coinbase Global have announced a partnership to jointly expand digital asset payment capabilities to serve the bank's corporate clients.
This is the latest case of Wall Street giants turning to the blockchain space for innovation amid ongoing warnings from regulators about the risks of digital assets. In the initial phase of the partnership, the focus will be on exploring how to simplify the fund conversion process for Citi's institutional clients—covering both converting cryptocurrency to fiat and the reverse operation of purchasing cryptocurrency with fiat, including cross-border scenarios.
BitMine increases its ETH holdings by 77,055 last week, total holdings reach 3.313 million
According to ChainCatcher, BitMine announced that its total holdings of cryptocurrencies, cash, and high-risk innovative assets have reached $14.2 billion. This includes: 3,313,069 ETH; 192 BTC; $88 million worth of Eightco Holdings (ORBS) equity; and $305 million in unrestricted cash.
BitMine disclosed that its ETH holdings account for 2.8% of the total ETH supply, having increased its holdings by 77,055 ETH last week, steadily approaching its target of 5% ETH holdings. The company also reported an average daily trading volume of $1.5 billion over the past five days, ranking 46th in U.S. stocks by dollar trading volume.
According to ChainCatcher, Binance announced on the X platform that starting from October 28 at 08:00 (UTC+8), the trading volume of tokens created through the Four.Meme "Meme Rush-Fair Mode" platform will no longer be counted in the trading volume statistics for Alpha points from the time of token creation until it goes live on Binance Alpha. If the token goes live on Binance Alpha, its trading volume will be counted towards Binance Alpha points at the normal standard of 1x.
Tether and Circle have minted $8.5 billion worth of stablecoins since the collapse
According to ChainCatcher, Lookonchain monitoring shows that with Circle having diluted and minted an additional 750 million USDC, Tether and Circle have minted stablecoins worth $8.5 billion since the collapse.
Strategy spent $43.4 million to increase its holdings by 390 BTC last week
According to ChainCatcher, Strategy announced that it purchased 390 BTC at an average price of $111,053, with a total investment of approximately $43.4 million.
As of October 26, 2025, the company has accumulated a total of 640,808 BTC, with a total investment of approximately $47.44 billion and an average holding cost of $74,032 per coin.
Michael Saylor also stated that the company's Bitcoin yield has reached 26.0% since 2025.
Public company Chijet Motor completes approximately $300 million private placement in cryptocurrency
According to ChainCatcher, GlobeNewswire reports that Nasdaq-listed Chijet Motor Company, Inc. (ticker: CJET) announced today that it has successfully completed a private placement, raising the equivalent of $300 million in cryptocurrency funds.
This issuance is aimed at non-U.S. institutional investors, with each unit consisting of one common share (priced at $0.1) and three warrants (exercise price of $0.12).
According to ChainCatcher, Caixin reports that Binance founder CZ (Zhao Changpeng) confirmed that former President Trump has signed a pardon for him. Additionally, CZ stated that he will continue to focus on the family office YZi Labs investment business while being invited to serve as a crypto industry advisor to heads of multiple governments.
Ant Group applies to register multiple Web3-related trademarks including "ANTCOIN" in Hong Kong
According to ChainCatcher, Hong Kong Economic Journal reports that Ant Group has applied to register multiple trademarks related to virtual assets, stablecoins, and blockchain in Hong Kong, including "ANTCOIN." Industry insiders believe this move may be part of its early layout in the fintech and Web3 business direction, aiming to expand into new business areas beyond traditional payment systems.
SharpLink currently holds $3.58 billion worth of ETH, with a floating profit of $480 million
According to ChainCatcher, regarding "SharpLink Gaming has added 19,271 ETH to its reserves," on-chain analyst Yu Jin stated that these ETH were not purchased in the last two days but were bought on October 17: they raised $76,500,000 by issuing shares on October 17 and then purchased these 19,271 ETH at a price of $3,892. SharpLink currently holds a total of 859,853 ETH (worth $3.58 billion), with an average cost of $3,609. Currently, it has a floating profit of $480 million.
Meme Popularity Rankings
According to the meme token tracking and analysis platform GMGN, as of October 28 at 09:20,
The top five popular ETH tokens in the past 24 hours are: LINK, PENGU, XIN, HANA, GROKIPEDIA
The top five popular Solana tokens in the past 24 hours are: OpenSea, ATHENIUM, TRUMP, U402, WeChat 9.0
The top five popular Base tokens in the past 24 hours are: KYLIE, VIRTUAL, ZORA, BCheetos, CLANKER
What are some interesting articles worth reading in the past 24 hours?
ZEC rises sixfold in a month, what drove this frenzy?
As the November halving approaches and market interest in privacy assets reignites, Zcash (ZEC) has once again become the focus, with traders actively positioning around the narrative of privacy coins. Sources told Decrypt that despite limited on-chain growth, endorsements from well-known investors and heated discussions around privacy topics have still driven market activity. Experts indicate that the sustainability of this price increase depends on market sentiment post-ZEC halving and whether user adoption can break through short-term speculation to achieve substantial growth.
Driven by both speculative fervor and the return of the privacy theme, Zcash has achieved triple-digit gains within 30 days, successfully surpassing its 2021 peak. This privacy coin soared from a low of $54 to approximately $372 within a month, ranking among the best-performing assets in the market.
Tariff clouds temporarily lift, is the bull market's horn sounding again?
As new progress is made in tariff negotiations between China and the U.S., sentiment in the crypto market has rapidly warmed.
From last night to this morning, the market has once again welcomed a significant rise. According to OKX market data (as of 9:30), BTC broke through 115,000 USDT, peaking at 115,590 USDT, with a 24-hour increase of 3.02%; ETH approached 4,200 USDT, peaking at 4,194.84 USDT, with a 24-hour increase of 5.88%; SOL reclaimed the 200 USDT mark, peaking at 205.09 USDT, with a 24-hour increase of 5.58%.
In addition to BTC, ETH, and SOL, the altcoin market has finally seen some decent recovery, with several tokens showing impressive gains. For example, the consistently strong ZEC once touched 368 USDT, with a 24-hour increase of 30.03%; influenced by the renewed interest in AI concepts, VIRTUAL once reached 1.5761 USDT, with a 24-hour increase of 22.25%; popular protocols like PUMP, PENDLE, and ENA also performed well, with 24-hour increases of 17.64%, 10.06%, and 9.22%, respectively…
Crypto IPO frenzy: A look at the new round of wealth opportunities
With the crypto market sentiment boosted and the timing for new IPO projects approaching, could this be the new code for wealth? Foresight News reviews the upcoming projects for official IPOs and prepares you for market opportunities.
Messari researcher: Trading U.S. stocks with Perp DEX, the next blue ocean
Stock perpetual contracts are considered the next inevitable blue ocean for on-chain markets, but current data indicates that breakthroughs in this area are still difficult in the short term. Ostium, a decentralized exchange focused on real-world assets (RWAs) for perpetual contracts, has an average daily trading volume of only $1.8 million for stock perpetual contracts, while cryptocurrency perpetual contracts reach $44.3 million, reflecting weak demand.
This gap in adoption mainly stems from audience misalignment. On-chain traders show little interest in stocks, while off-chain platforms (like Robinhood) allow easy trading of stocks and options but not perpetual contracts. International investors may become a potential target group, as they cannot directly access the U.S. stock market. However, these investors may prefer to hold stocks directly to gain shareholder rights while avoiding funding fees and clearing risks.
Risk warning
Risk warning
