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CoinShares’ XRP ETF filing with the SEC may open institutional access to XRP alongside pending Grayscale and Bitwise proposals.
Coinbase strengthens its presence in India and the Middle East; Taiwan’s OwlTing secures Nasdaq approval to expand its stablecoin and payments ecosystem.
The US targets global crypto crime networks, seizing $14 billion in Bitcoin and sanctioning 146 entities tied to money laundering and fraud.
The cryptocurrency market is witnessing a dynamic week marked by institutional moves, regulatory action, and blockchain breakthroughs. CoinShares filed for an XRP ETF, Coinbase's expansion into India, OwlTing's debut on Nasdaq, and Shiba Inu experienced its largest token burn in history, while US authorities conducted one of the largest seizures of Bitcoin.
CoinShares has officially filed with the US SEC to launch a spot XRP ETF under the ticker XRPL on Nasdaq, signaling expanding institutional access to XRP.
The October 14 filing names BitGo as custodian, Valkyrie Funds LLC as seed capital investor, CSC Delaware Trust Company as trustee, and US Bancorp Fund Services as administrator.
CoinShares confirmed the ETF will not engage in staking, ensuring compliance with SEC guidelines for passive trusts. The SEC is expected to deliver rulings on several XRP ETF proposals this week, including those from Grayscale, 21Shares, Bitwise, WisdomTree, and Canary Capital between October 18 and 25.
Also Read: XRP News Today: XRP Price Plunges 6% as Whale Selling Wipes Out $10 Billion in Market Cap Value
Coinbase has made a strategic investment in India-based exchange CoinDCX, valuing the firm at $2.45 billion. The transaction pending regulatory approval extends Coinbase’s presence across India and the Middle East.
Founded in 2018, CoinDCX boasts 20.4 million users, $165 billion in annualized trading volume, and $1.2 billion in assets under custody.
Coinbase Chief Business Officer Shan Aggarwal said, “India and the Middle East are set to play a defining role in the next wave of digital finance.”
The investment follows Coinbase Ventures’ earlier participation in CoinDCX’s prior funding rounds. Analysts view the deal as a calculated move to strengthen Coinbase’s regulated foothold in emerging markets.
Taiwanese fintech OwlTing has received approval for a direct listing on Nasdaq under the ticker OWLS, set to begin trading on October 16.
The firm's direct listing avoids any share dilution, signaling confidence in its value and growth potential. Founded by Darren Wang, OwlTing originally developed food-traceability and hospitality technology before pivoting to digital payments and stablecoin infrastructure.
The company's flagship product, OwlPay, introduced in 2023, allows companies to make cross-border payments in stablecoins (USDC) or fiat money with quicker settlement and cheaper transaction costs.
OwlTing reported $7.6 million in revenue (an increase of 18.3% YoY) and a net loss of $10.3 million. While the loss is significant, its debut on Nasdaq signals a renewed investor appetite for Asian Web3 payment platforms.
Shiba Inu (SHIB) saw its daily burn rate surge 27,014% over 24 hours, with 43.48 million SHIB destroyed, its highest daily figure in weeks. SHIB’s price recovered 1.86% to $0.00001073 after briefly falling to $0.0000102.
The Plasma Bridge between Ethereum and Shibarium has also been reactivated following enhanced security measures, including malicious-address blacklisting and a seven-day withdrawal delay.
Developers confirmed a phased reopening for other tokens and an upcoming repayment framework for users affected by last month’s exploit.
The US and UK authorities seized 127,271 bitcoins ($14 billion) from a Cambodian network linked to Prince Holding Group and its founder Chen Zhi.
The operation dismantled a vast “pig-butchering” scam network tied to fraud, human trafficking, and money laundering. The US Treasury’s OFAC sanctioned 146 individuals and entities, while FinCEN targeted related laundering channels such as the Huione Group, accused of processing $4 billion in illicit funds.
Treasury Secretary Scott Bessent called the move “a global response to a global crime,” noting that Americans have lost $16 billion to such scams since 2023.
Also Read: Bitcoin Price Consolidates Around $113,000 After Early October Rally
After last weekend’s $755 million outflow, US spot Bitcoin and Ethereum ETFs rebounded with $340 million in net inflows on Tuesday.
Bitcoin ETFs attracted $102.6 million, led by Fidelity’s FBTC, which alone recorded inflows of $132.6 million, and BlackRock’s IBIT saw $30.79 million in outflows.
Ethereum ETFs performed even stronger, securing $236.2 million in total inflows, with Fidelity’s FETH contributing $154.6 million.
Despite continued uncertainty, Bitcoin has stabilized near $112,000, while Ethereum remains above $4,100, signaling early signs of recovery.
1. What is the significance of CoinShares’ XRP ETF filing?
It could make XRP directly accessible to US institutional investors, marking a significant regulatory milestone for Ripple’s ecosystem.
2. Why did Coinbase invest in CoinDCX?
To strengthen its foothold in India and the Middle East, two rapidly expanding crypto markets with growing institutional participation, the company is expanding its operations.
3. What makes OwlTing’s Nasdaq listing unique?
It’s a direct listing, avoiding share dilution, and reflecting strong investor confidence in its stablecoin and blockchain-based payment solutions.
4. Why did the US seize $14 billion in Bitcoin?
Authorities uncovered a transnational ‘pig-butchering’ scam network tied to human trafficking and financial fraud spanning Asia and Europe.
5. How is the crypto market reacting overall?
Despite volatility, Bitcoin has stabilized near $112,000 and Ethereum above $4,100, supported by strong ETF inflows and resilient investor sentiment.
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