Bitcoin recorded USD 2.38 billion in net inflows; BlackRock's EBIT led last week's inflows with USD 1.158 billion.
QNT climbed 260% over the week, reaching a five-year high near USD 370.
Wintermute-linked wallet accumulated USD 126.25 million in Hyperliquid shorts.
The crypto market saw major developments as spot Bitcoin ETFs recorded USD 2.38 billion in net inflows last week, while QNT surged 260% weekly. Also, Bitget’s hacker attempted the first transaction since its hack on September 24 and Winterminute’s HYPE shorts reach USD 126 million.
According to SoSoValue, during last week's trading days, Bitcoin spot ETFs saw a net inflow of USD 2.38 billion. The Bitcoin spot ETF with the highest net inflow last week was BlackRock's ETF IBIT, with a weekly net inflow of USD 1.158 billion.
Fidelity's FBTC ranked second, with a weekly net inflow of USD 702 million, bringing FBTC's cumulative total net inflow to USD 11.06 billion.
The Bitcoin spot ETF with the largest weekly net outflow was WisdomTree Bitcoin Trust BTCW, with a weekly net outflow of USD 4.016 million, bringing BTCW's cumulative total net inflow to USD 78.65 million.
The total net asset value of Bitcoin spot ETFs stood at USD 108.42 billion, with the ETF net asset ratio reaching 6.43%, and the historical cumulative net inflow totaling USD 57.55 billion.
QNT surged to a five-year high of approximately USD 370. The bears prevented another leg up, and now the cryptocurrency trades around USD 205, representing a 260% weekly jump.
The main catalyst driving the uptrend is the announcement that The Clearing House selected Quant to power its On-Chain Money Initiative. X user Ted Pillows outlined additional factors that may have also positively impacted QNT.
He revealed that Quant is now built into Murex MX.3 (the software running 65 of the world’s 100 largest banks), while the European Central Bank picked the project to help test the digital euro.
Also Read: Bitcoin vs Federal Reserve: How Monetary Policy Shapes BTC
The wallet linked to the Bitget hack has started moving stolen funds for the first time since the crypto exchange lost over USD 387 million in a September 24 security breach.
On Monday, on-chain trackers identified a key address associated with the attacker transferring Ethereum (ETH) into THORChain vaults and rapidly converting the assets into Bitcoin (BTC).
Blockchain data shows the attacker sending ETH to THORChain in multiple transactions, often in batches of 100 ETH, before swapping the funds for BTC through the decentralized cross-chain protocol.
Bitget stated that the attackers did not gain access to private keys. Instead, the breach allegedly involved the compromise of a critical backend component that allowed fraudulent transaction data to pass through the exchange’s authorization process.
A wallet linked to Wintermute has built roughly USD 126.25 million in short positions on Hyperliquid, with a USD 46.92 million Ethereum short making up the largest reported exposure.
Onchain Lens reported on September 28 that the tracked account held shorts across several crypto assets and was sitting on roughly USD 963,600 in unrealized profit when the snapshot was taken.
The analytics account put the wallet’s lifetime profit and loss at approximately USD 197.22 million. The address, 0xecb63caa47c7c4e77f60f1ce858cf28dc2b82b00, has repeatedly been identified by on-chain researchers as a Wintermute-linked Hyperliquid wallet.
The Financial Conduct Authority opens its new crypto authorization gateway at 7 am UK time on September 30. Firms have until February 28, 2027, to enter the main application window before a new regime begins on October 25, 2027.
For a firm still awaiting a decision at that point, the date it submitted a valid application can determine whether it may keep serving customers or only wind down old contracts. The FCA has already published final perimeter guidance and a 73-page preview of the application.
The preview asks for far more than a company name and anti-money laundering registration number. A firm has to identify what it actually does, which regulated permissions correspond to each service, who controls it, how customer assets and complaints are handled and how it will meet the relevant financial and operational standards.
Also Read: Ethereum Eyes USD 2,800 as ETF Inflows Extend to Five-Day Streak
1. How much did Bitcoin spot ETFs attract last week?
Bitcoin spot ETFs recorded USD 2.38 billion in weekly net inflows. BlackRock's IBIT led with USD 1.158 billion, followed by Fidelity's FBTC with USD 702 million.
2. Why did QNT surge 260% in a week?
The rally coincided with The Clearing House selecting Quant for its On-Chain Money Initiative. Other cited developments include Quant's integration with Murex MX.3 and its involvement in digital-euro testing.
3. What happened to the funds stolen from Bitget?
A wallet linked to the September 24 Bitget breach began moving funds, sending ETH through THORChain and swapping assets into Bitcoin. The exchange has attributed the breach to a compromised backend component rather than stolen private keys.
4. How large are the Wintermute-linked Hyperliquid short positions?
On-chain tracking identified approximately USD 126.25 million in short positions associated with a Wintermute-linked wallet. The largest reported position was a roughly USD 46.92 million ETH short.
5. When does the UK's new crypto licensing window open?
The FCA's crypto authorization gateway is scheduled to open on September 30, 2026, with the main application window running until February 28, 2027, ahead of the new regime beginning October 25, 2027.