BlackRock Debuts Bitcoin ETP in London as OpenSea Logs 202% Revenue Surge Ahead of SEA Token Launch

BlackRock Lists Bitcoin ETP on London Stock Exchange After UK Eases Crypto Investment Rules

BlackRock launched a Bitcoin-linked exchange-traded product in the U.K., following the Financial Conduct Authority’s easing of rules on crypto investment vehicles. The iShares Bitcoin ETP is listed on the London Stock Exchange and allows UK retail investors to buy fractions of Bitcoin starting around $11, offering exposure to BTC without directly holding it or trading on crypto exchanges.

The launch comes after the FCA lifted its four-year ban on crypto exchange-traded notes, citing that these products are now more mainstream and better understood. While the retail ban on crypto derivatives remains, the FCA is promoting innovation, including the use of blockchain for fund tokenization. BlackRock’s iShares Bitcoin ETFs remain among the largest, with net assets exceeding $85 billion.

Global Crypto Investment Products See $513 Million Outflow Amid Bitcoin Losses, Ethereum and Solana Funds Attract Buyers

Global crypto investment products managed by firms including BlackRock, Bitwise, Fidelity, Grayscale, ProShares, and 21Shares saw $513 million in net outflows last week, mainly from U.S. investors reacting to the Oct. 10 liquidation cascade. Total net outflows from this event now reach $668 million, while weekly trading volumes stayed elevated at $51 billion, nearly double the 2025 average.

Bitcoin-focused products led the losses with $946 million outflows, including $1.2 billion from U.S. spot Bitcoin ETFs, marking their second-largest weekly withdrawal since launch in January 2024. Ethereum funds saw inflows of $205 million, particularly in a 2x leveraged ETP totaling $457 million, as investors bought the dip, though U.S. spot ETH ETFs lost $311.8 million.

Investors in Germany, Switzerland, and Canada added modest inflows, while interest in upcoming U.S. Solana and XRP ETFs boosted existing ETPs for those assets by $156 million and $73.9 million, respectively.

U.S. User Loses $3.05 Million in XRP After Hot Wallet Mix-Up, Funds Routed to Huione OTCs

A U.S. crypto holder lost roughly $3.05 million in XRP after their Ellipal wallet was compromised. Blockchain investigator ZachXBT traced the theft to over 120 Ripple-to-Tron swaps on Oct. 12, with the funds routed through bridges and funneled to OTC venues connected to Huione by Oct. 15.

Authorities have linked Huione and its marketplaces to large-scale money laundering tied to cybercrime in Southeast Asia. U.S. agencies have already proposed sanctions and rules targeting Huione-related operations.

According to ZachXBT, the victim was inexperienced and believed they were using a cold wallet, when the product was actually operating as a hot wallet — pointing to user error over a hardware exploit. The case highlights long-standing attack vectors like private-key theft and wallet breaches, which have contributed to over $2 billion in crypto losses in the first half of 2025.

Recovery prospects are slim due to slow reporting and cross-border complexities. ZachXBT is calling for stronger oversight by exchanges and stablecoin issuers to combat OTC-based laundering.

BitMine Reports $13.4 Billion Crypto Treasury, Largest ETH Holdings Globally, Stock Ranks #33 in U.S. Trading Volume

BitMine Immersion Technologies announced total holdings of $13.4 billion, including 3,236,014 ETH at $4,022 each, 192 BTC, $119 million in “moonshot” investments like Eightco Holdings, and $219 million in cash. This makes BitMine the largest Ethereum treasury globally and the second-largest overall crypto treasury behind Strategy Inc (MSTR).

The company acquired 203,826 ETH last week, representing 2.7% of ETH supply, as Chairman Thomas Lee highlighted the current price dislocation as an attractive opportunity amid Ethereum’s expected Supercycle. BitMine’s stock is among the most actively traded in the U.S., averaging $2.1 billion in daily volume and ranking #33 among 5,704 U.S.-listed stocks. Institutional investors continue to favor BitMine for its liquidity and high trading activity, with BitMine and MSTR now accounting for 88% of global digital asset trading volume.

Gemini Launches Solana Credit Card With Auto-Staking and Up to 4% SOL Rewards

Gemini has rolled out a Solana-specific version of its Gemini Credit Card, the first time the company has tied a card to a single blockchain network. Cardholders can earn up to 4% back in SOL on select purchases — including gas, EV charging, and rideshare — and automatically stake their rewards at a current yield of 6.77%. Dining earns 3%, groceries 2%, and all other spending 1% in SOL.

The integration lets users convert credit card rewards into staked assets that support Solana’s network security while generating additional yield. Gemini selected Solana for its high throughput and active developer ecosystem. According to the company, users who held their SOL rewards for at least a year saw returns above 290%.

OpenSea Surges 202% on $3B Token Volume as SEA Token Hype Drives Shift to Multi-Chain Trading

OpenSea is rapidly transforming from an NFT-focused marketplace into a multi-chain token trading hub, now supporting 22 blockchains. After months of sluggish activity, the platform has generated over $25 million in token trading revenue and $5.6 million from NFTs in the past month — accounting for more than 66% of its total 2025 revenue. Trading volumes hit $3 billion for tokens and $520 million for NFTs over 30 days, driving a 202% month-over-month revenue surge.

Much of the renewed activity is tied to the anticipated launch of the SEA token in Q1 next year, overseen by the separate and opaque OpenSea Foundation. Half of the token supply is earmarked for the community. Traders are farming rewards via token and NFT “treasure chests,” hoping for sizable airdrops. OpenSea controlled over 73% of Ethereum NFT trading last week.

CEO Devin Finzer says the company is “trading everything” and no longer views Blur as a primary competitor. OpenSea plans to launch perpetuals trading, redesign its mobile app, and abstract away blockchain complexities so users can trade assets seamlessly across chains.

The platform is distributing $12.2 million in token and NFT rewards, though some users are concerned they may need to complete KYC to claim certain rewards. Despite the uncertainty, U.S. residents are expected to have access to the SEA token.