● Grayscale applied to the SEC to convert its multi-token fund GDLC into an ETF
According to CoinDesk, Grayscale has applied to convert its Grayscale Digital Large Cap Fund into an exchange-traded fund (ETF). The fund tracks the CoinDesk Large Cap Select Index, which measures the market-weighted performance of the five largest cryptocurrencies, including BTC, ETH, SOL, XRP, and AVAX. A Grayscale spokesperson said that the application does not mean that the product will be launched. Once the fund is approved and converted to an ETF, it will be traded on the New York Stock Exchange.
● ETF issuer Canary submits Litecoin ETF application
According to BlockBeats, cryptocurrency investment company Canary Capital submitted a registration application for a spot LTC exchange-traded fund (ETF) to the U.S. Securities and Exchange Commission (SEC).
● Tesla transferred 11,500 BTC to an unknown wallet, the first operation in nearly two years
According to CoinDesk, Elon Musk's Tesla has transferred $760 million worth of Bitcoin it holds to an unknown wallet. According to data from crypto data company Arkham Intelligence, Tesla-related wallets began transferring funds to unknown wallets on Tuesday. BitcoinTreasuries data shows that Tesla is the fourth largest Bitcoin holder among US listed companies, second only to MicroStrategy, Marathon Holdings and Riot Platforms.
● Fed's Daly: If inflation falls, we may cut interest rates one or two more times this year
According to Jinshi, Fed's Daly said that if inflation falls as expected, the Fed will cut interest rates further. She believes that one or two more rate cuts this year would be reasonable. But she also pointed out that the Fed may take less or more action on interest rates, depending on the data.
According to Odaily Planet Daily, Lisa Shalett, chief investment officer of Morgan Stanley Wealth Management, said that the Fed is now focusing on the "mixed" labor market. The Fed will continue to cut interest rates in November, but policymakers are cautious because inflation is no longer cooling down quickly. Most Fed policymakers gave the green light to further rate cuts in the coming months last week, while Atlanta Fed President Bostic said that rate cuts may need to be skipped in November. Traders currently expect the Fed to cut interest rates by 25 basis points at its policy meeting on November 6-7 with an 89% chance, abandoning expectations that the Fed will cut interest rates by 50 basis points after strong September employment data and other optimistic economic data.
● Shengli Securities: Bitcoin rises slowly and waits for spillover effect
According to Odaily Planet Daily, Zhou Lele, deputy chief operating officer of Shengli Securities, pointed out that the virtual asset market continued last week's trend and fluctuated slightly. Head assets such as Bitcoin and Ethereum were swaying and entangled, but Altcoins with higher odds were recovering and moving out of the downward channel. The over-the-counter Bitcoin ETF inflow last week was about US$3.08 billion, and the Ethereum ETF inflow was about US$5 million; the weak balance in the market was broken, short-term holders gradually increased their holdings, and the recovery phase may begin. Virtual asset shadow stock MicroStrategy hit a new high, and its two-fold long ETF trading volume also gradually expanded. The investment in Meme coins in the market was hot, and the market risk appetite increased, but compared with the assets themselves, the willingness to trade high-odds derivatives was stronger. Virtual assets may need to wait for the wealth effect of global stock markets to overflow and increase market share.
● CryptoQuant founder: Apparent demand for Bitcoin is recovering
According to PANews, CryptoQuant founder and CEO Ki Young Ju posted on the X platform that the apparent demand for Bitcoin is recovering. Apparent demand is an on-chain indicator that compares production and inventory changes. Specifically, Bitcoin's apparent demand measures the difference between BTC mining issuance and the supply of tokens that have been idle for more than a year. Ju emphasized that if the inventory reduction exceeds the production, it means that the apparent demand is growing.
● Blockstream completes $210 million in financing to accelerate Bitcoin development
According to Odaily Planet Daily, Bitcoin infrastructure development company Blockstream has completed $210 million in convertible note financing, led by Fulgur Ventures. The new funds will be used to accelerate the adoption and development of Blockstream Bitcoin.
