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The revised SEC filing from 21Shares introduces staking through Coinbase and BNY Mellon, enabling automatic investor rewards.
With 31% adoption and $46 trillion in annual stablecoin transactions, Australia surpasses the US as a crypto leader.
JPMorgan is opening up to Bitcoin Loans soon, and clients will be able to use BTC and ETH as collateral, marking a major shift in traditional banking.
The global cryptocurrency market remained active today. Some of the key events were 21Shares adding staking to its Sui ETF, Australia becoming the leading country in crypto adoption over the US, JPMorgan adding Bitcoin and Ethereum to its lending system, and Binance's CEO, Zhao Changpeng, refuting allegations of transferring profits to the Trump family.
21Shares has updated its Sui ETF application with the US SEC by including staking and declaring Coinbase as the staking partner. The ETF, which is going to be traded on Nasdaq, will enable investors to receive staking rewards automatically without having to take care of private keys or running validator nodes.
As per the revised S-1 filing, the ETF will have a special “Staking of Trust’s Assets” section where it will describe how Coinbase will perform transaction validation, take care of staking, and do the trust reward distribution.
The Bank of New York Mellon will act as the cash custodian, while Coinbase Custody will hold the SUI tokens. The filing followed delays caused by the recent US government shutdown but reinforced 21Shares’ intent to comply with the SEC’s evolving crypto ETF standards.
According to a16z State of Crypto 2025 report, Australia has become the global crypto leader with 31% adoption in 2025, ahead of the US and Europe. The engagement in Australia is propelled by active retail, institutional investment, and a favorable regulatory environment.
Stablecoins are the pillars of this ecosystem, facilitating annual transactions worth $46 trillion, competing with payment networks of Visa and PayPal.
The combined supply of stablecoins surpassed $300 billion, with USDT and USDC controlling an 87% share.
In September, the Australian government's proposed Digital Assets Bill set forth heavy fines for breaking the law that could amount to 10% of annual turnover or A$16.5 million, and exchanges should obtain Australian Financial Services Licenses.
Also Read: Why Ethereum is the Go-to Settlement Layer for Altcoins
BitMine chair Tom Lee cautioned that even with ETF inflows and institutional adoption, Bitcoin can still go through 40-50% drawdowns, similar to equity market corrections.
Lee stated that Bitcoin generally magnifies macro trends, saying: “If the S&P 500 declines by 20%, Bitcoin might lose 40%.” However, he reiterated his bullish long-term view, predicting a possible Bitcoin rally to $200,000-$250,000 by the end of the year.
Meanwhile, veteran trader Peter Brandt compared Bitcoin’s current trajectory to the 1970s soybean market, which saw a 50% crash after a parabolic rise.
According to TokenInsight, following two quarters of sharp declines, crypto spot trading volume on centralized exchanges (CEXs) increased 30.6% in Q3 to $4.7 trillion.
Binance continued to be the leading crypto exchange, owning 43% of global spot trading volume, with MEXC and Bybit at roughly 9% each. Derivatives volume also grew by 29% to $26 trillion.
Analysts point to renewed investor confidence following Bitcoin's Q3 highs of over $123,000. TokenInsight's report calls a "structural transformation" occurring in derivatives markets, suggesting increased competition amongst exchanges like Gate.io, KuCoin, and BingX.
JPMorgan Chase is reportedly preparing to allow institutional clients to use Bitcoin (BTC) and Ethereum (ETH) as collateral for loans by late 2025.
The program will operate through third-party custodians for asset safekeeping and follows the bank’s earlier decision to accept crypto ETF shares as collateral.
The move marks a major shift for CEO Jamie Dimon, who once criticized Bitcoin as “worse than tulip bulbs.” Recently, Dimon has softened his tone, saying he would “defend your right to buy Bitcoin,” while JPMorgan quietly expands crypto lending and custody services.
Also Read: Bitcoin Price Consolidates Near $111K as ETF Flows Slow After Historic Highs
Binance founder Zhao Changpeng (CZ) refuted allegations that the exchange channels tens of millions of dollars annually to the Trump family through stablecoin interest payments.
The claim originated from crypto researcher FatMan, who alleged that Binance’s $2 billion stablecoin deposits in WLFI could generate up to $87 million in annual interest, with 60% allegedly shared with the Trump family, equating to $48-$52 million per year.
CZ dismissed the allegations as baseless. He added that “We’ve already exchanged many of the stablecoins we received. This logic simply doesn’t hold water.”
1. What change did 21Shares make to its Sui ETF filing?
It added staking functionality with Coinbase as the staking partner and BNY Mellon as custodian, allowing passive yield for ETF holders.
2. Why is Australia leading in crypto adoption?
A 31% adoption rate, strong retail activity, and a favorable regulatory framework under the Digital Assets Bill have made it a global leader.
3. How significant is JPMorgan’s move into Bitcoin-backed loans?
It marks a landmark shift in traditional finance, integrating crypto as loan collateral via trusted custodians.
4. What is Tom Lee’s current Bitcoin outlook?
He warned of possible 40-50% corrections but maintains a bullish year-end target of $200K-$250K for BTC.
5. Did Binance’s CZ respond to Trump family transfer claims?
Yes, CZ strongly denied the allegations, calling them “baseless” and “logically inconsistent.”
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