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US spot Bitcoin ETFs recorded USD 244.13 million in net outflows, led by Fidelity's FBTC with USD 197.09 million in withdrawals.
Kazakhstan signed an MoU with Tether to explore a tenge-backed stablecoin.
PI declined 10% weekly as its team outlined potential OUSD stablecoin integration.
The cryptocurrency market saw major developments as spot Bitcoin ETFs recorded USD 244 million in net outflows. Meanwhile, Kazakhstan explored tenge-pegged stablecoin and signed an MoU with Tether. XRP Whale dominance falls 27% and MARA Transfers USD 81 million worth BTC to Galaxy Digital.
According to SoSoValue, the Bitcoin spot ETF saw a total net outflow of USD 244.13 million yesterday. The Bitcoin Spot ETF with the highest net inflow yesterday was Franklin's ETF EZBC, with a daily net inflow of USD 4.71 million, and the total historical net inflow of EZBC currently stands at USD 329.83 million.
Bitcoin ETF with the highest net outflow yesterday was Fidelity's ETF FBTC, with a daily net outflow of USD 197.09 million, and the total historical net inflow of FBTC currently stands at USD 10.52 billion. The total net asset value of Bitcoin Spot ETFs is USD 104.91 billion, with an ETF net asset ratio of 6.38%. The historical cumulative net inflow has reached USD 57.09 billion.
Tether signed a memorandum of understanding (MoU) with the National Bank of Kazakhstan (NBK) and the Alatau City Authority (ACA) on 7 October 2026.
The three parties agreed to explore stablecoin development, asset tokenisation and decentralised finance in Kazakhstan. The NBK is the country's central bank. It sets monetary policy, oversees payment systems and manages currency regulation.
The ACA administers the city of Alatau under a special legal regime built to attract financial technology. It was set up to position Alatau as a hub for digital innovation in Central Asia. A key priority is developing a tenge-pegged stablecoin, with the groups set to review global issuance models, map out use cases, and draft a pilot proposal.
Also Read: Bitcoin ETFs See USD 487M Outflows: What Does it Mean for BTC’s Next Move?
XRP whale dominance across centralized exchanges has fallen sharply after large holders controlled more than four-fifths of exchange outflows only days ago. CryptoQuant data shows the whale-versus-retail outflow spread fell from 64% on September 30 to 46.7% on October 8, a decline of 17.3 percentage points, or roughly 27% in eight days.
The reversal follows an unusually whale-heavy period. On September 29, whales accounted for 82% of XRP outflows across centralized exchanges, while Binance's whale share reached an even higher 84.2%.
On Binance, the same trend is visible but less pronounced. Its whale-retail spread fell from 68% to 54.9% between September 30 and October 8, a decline of about 19.3%. That remains above the 46.7% reading across all exchanges.
MARA, a cryptocurrency mining company transferred USD 81.1 million worth of Bitcoin to an address identified as belonging to Galaxy Digital, according to data tracked by Lookonchain. MARA, previously solely focused on Bitcoin mining, has since expanded into artificial intelligence and high-performance computing infrastructure.
The company has already begun selling part of its substantial Bitcoin treasury to strengthen its balance sheet and support its broader strategy. In March, it sold 15,133 BTC for approximately USD 1.1 billion, primarily to fund the repurchase of convertible debt.
Pi Network has clarified its plans to introduce stablecoins into its ecosystem while keeping PI as the main cryptocurrency, as its native token struggles near USD 0.08 following a 10% weekly decline. According to the Pi Core Team, the network’s partnership with Open Standard will explore ways to bring OUSD stablecoin payments and reward programs to Pioneers.
In an October 8 update, the team explained that stablecoins could support payments, commerce and settlement where predictable prices are needed. However, PI will continue serving as the primary digital asset across network activities, and no date has been announced for an OUSD Mainnet integration.
Also Read: Ethereum Hits USD 16.8 Billion in Tokenized Funds: Could Institutional Adoption Drive ETH Higher?
1. How much money flowed out of Bitcoin spot ETFs?
US spot Bitcoin ETFs recorded total net outflows of USD 244.13 million, according to SoSoValue. Fidelity's FBTC led withdrawals with USD 197.09 million, while Franklin's EZBC attracted USD 4.71 million in inflows.
2. What is Kazakhstan's proposed tenge-pegged stablecoin initiative?
Kazakhstan's central bank and Alatau City Authority signed an MoU with Tether on October 7, 2026, to explore stablecoin development. The initiative includes studying a tenge-pegged stablecoin, asset tokenisation and potential DeFi applications.
3. Why did XRP whale dominance decline by 27%?
CryptoQuant data showed the XRP whale-retail exchange outflow spread falling from 64% on September 30 to 46.7% on October 8. This represents a relative decline of approximately 27%, suggesting whales accounted for a smaller share of exchange outflows.
4. Why did MARA transfer USD 81 million worth of Bitcoin to Galaxy Digital?
Blockchain data tracked by Lookonchain showed MARA transferring approximately USD 81.1 million in Bitcoin to a Galaxy Digital-linked address. The transaction's specific purpose was not confirmed, although MARA has previously sold Bitcoin to support its financial strategy.
5. Why is Pi Network exploring OUSD stablecoin integration despite PI's price decline?
Pi Network is exploring OUSD stablecoin payments and rewards through its partnership with Open Standard. PI remains the ecosystem's primary cryptocurrency, while its price has fallen approximately 10% over the week to around USD 0.08.
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