Hong Kong Approves First Solana ETF – Market Info

The cryptocurrency market experienced one of the largest flash crashes in its history on Friday, October 10, 2025. As a result, the total crypto market capitalization has fallen by more than 14% over the past two weeks and currently stands at $3.16 trillion. However, BTC dominance has only increased by 0.6 percentage points, reaching 59.8%.

Alongside the sharp market correction, the Fear & Greed Index also dropped significantly, now sitting in the extreme fear zone at 25 out of 100. The altcoin season index fell by 20 points as well, reaching a level of 43 points.

Hong Kong Approves First Solana ETF

Hong Kong is once again strengthening its position as one of the key hubs for digital assets. The Securities and Futures Commission (SFC) in Hong Kong has approved the first spot Solana ETF in Asia, which will be issued by ChinaAMC, one of the largest asset managers in the region. This move represents a significant milestone in expanding institutional investors’ access to the Solana blockchain and signals growing confidence in alternatives to Bitcoin and Ethereum.

The ETF will be tradable on the Hong Kong Exchange (HKEX) starting October 27, 2025, with a management fee of 0.99%. Operations will be supported by OSL Exchange as the official trading platform, while OSL Digital Securities Co., Ltd. will serve as the digital asset custodian.

The approval of the Solana ETF follows previous SFC decisions that opened the door for spot ETFs for Bitcoin and Ethereum. Hong Kong continues its strategy to attract global capital and positions itself as a regional leader in regulated cryptocurrency adoption.

Analysts believe this move could contribute to further legitimizing Solana as an institution-friendly blockchain. Solana is known for its high transaction scalability and low fees, making it an attractive alternative for next-generation financial products.

Furthermore, Hong Kong’s approval comes at a time when Asia is advancing in regulated crypto investments, while many Western markets still rely on indirect derivative products. The Solana ETF could therefore serve as a model for other countries considering the integration of digital assets into their financial markets.

By launching this fund, Hong Kong sends a clear signal — crypto is here to stay, and the city aims to become a gateway for investors seeking regulated and transparent ways to enter the world of digital assets. Source

SpaceX Moves BTC Again

After a three-month break, SpaceX, led by Elon Musk, executed its first major on-chain transaction worth $268 million. According to Arkham data, the company moved 2,495 bitcoins (BTC) to several new addresses, while the wallet still holds 5,790 BTC, valued at approximately $625 million.

The last activity in this wallet was recorded on July 22, when SpaceX moved $153 million worth of BTC. At that time, this transfer was seen as the first step after more than three years of inactivity, reigniting interest in Musk’s crypto holdings.

The transfer occurred amid Bitcoin falling below $108,000 due to US-China trade tensions and broader global macroeconomic uncertainties. Markets were in a “risk-off” mood, with investors moving away from risky assets and favoring conservative investments.

US spot Bitcoin ETF data also showed outflows totaling $40 million on Monday, with the largest reduction recorded by BlackRock’s iShares Bitcoin Trust, from which investors withdrew $100 million on the same day.

Market analysts suggest this move by SpaceX may respond to changing market conditions or be part of an internal restructuring of corporate reserves. While the company has not officially disclosed the purpose of the transfer, it is further evidence that Elon Musk remains engaged with the cryptocurrency world, even if his public statements about Bitcoin have been rare in recent months.

Experts expect market volatility to continue until trade tensions ease. For investors, this means that the coming weeks could bring significant price fluctuations not only for Bitcoin but across the broader crypto market. Source

Standard Chartered: Bitcoin Poised to Reach $200K After Sell-Off

Despite a massive sell-off that shook the crypto market over the weekend of October 10, Standard Chartered remains bullish on Bitcoin. According to Geoff Kendrick, the bank’s global head of digital asset research, Bitcoin could climb to $200,000 by the end of the year. In an exclusive interview with Cointelegraph, he described the recent dip as a “short-term market cleanup” that creates an attractive accumulation opportunity for investors.

During the sell-off, Bitcoin’s price dropped to a four-month low of $104,000. The market was impacted mainly by concerns over new tariffs from US President Donald Trump and ongoing macroeconomic tensions. Despite this, Kendrick maintains that Bitcoin’s growth trajectory remains intact. “My official forecast is $200,000 by the end of the year,” he said, adding that even in a more conservative scenario, Bitcoin could stay above $150,000.

One of the main drivers of future growth, according to Kendrick, will be inflows into Bitcoin ETFs. After a series of politically driven outflows, he expects a reversal and renewed investor activity — with funds recording net inflows of $477 million on Tuesday. Analysts interpret this as a signal of returning investor confidence and growing appetite for Bitcoin exposure.

Kendrick also noted a parallel between gold’s price growth and Bitcoin’s potential rise. Gold has recently reached new all-time highs, reinforcing its safe-haven status during periods of uncertainty. “The story of gold and the story of Bitcoin are starting to intertwine again,” he explained.

According to Kendrick, the recent sell-off may only be a temporary correction that relieved market tension after strong growth in the first half of the year. If conditions stabilize, Bitcoin could regain momentum in the coming months and move toward new records. Standard Chartered remains one of the most optimistic institutions regarding Bitcoin’s long-term growth, with Kendrick projecting it could reach $500,000 by 2028. Source

Charles Schwab to Offer Spot Crypto Trading

US investment giant Charles Schwab has officially confirmed plans to launch spot cryptocurrency trading in the first half of 2026. CEO Rick Wurster announced the news during the company’s Q3 2025 earnings call, which exceeded Wall Street expectations.

According to the annual report, the firm recorded $134.4 billion in total net new assets, a 48% increase from the previous year. This growth was driven primarily by increased retail investor activity and growing interest from Gen Z investors.

Wurster emphasized that the upcoming crypto trading product will be part of a broader wealth management strategy aimed at providing clients access to both traditional and digital assets within a single ecosystem. “We are already seeing wins among younger investors. About one-third of new retail accounts are under 28 years old,” he said.

Introducing direct Bitcoin and Ethereum trading would represent a significant shift for the company, which previously offered only indirect exposure through ETFs, futures, and closed-end investment products. This move could also increase competitive pressure on platforms like Coinbase and Robinhood, which dominate the retail crypto market.

Although an exact launch date has not been announced, Wurster indicated that Schwab is already working on the technical and regulatory infrastructure required for secure digital asset integration. The firm is also monitoring developments in stablecoins and tokenization of traditional assets, which could expand its offerings in the future.

If successful, 2026 could mark a milestone in connecting traditional finance with crypto markets, with the entry of a major institution potentially driving further mainstream adoption. Source

Europe’s Largest Asset Manager Enters the Crypto Market

Amundi, one of Europe’s largest asset managers with €2.3 trillion in assets under management, is preparing to enter the Bitcoin investment product market. This move reflects the growing recognition of digital assets within traditional investment strategies, as managers seek ways to diversify portfolios while protecting value against inflation.

The company plans to offer a Bitcoin ETN, allowing clients to gain exposure to Bitcoin through a regulated product. The ETF expansion also includes new leveraged products available for European tax-advantaged accounts, attracting a broader range of investors, including those who previously invested exclusively in traditional assets.

Institutional players across Europe are increasingly exploring Bitcoin exposure through regulated ETFs. This trend is partly driven by sovereign fund activities in the Eurozone, signaling wider acceptance of digital assets in traditional finance. Institutional interest also contributes to mainstream adoption of cryptocurrencies and stabilizes the market, as larger trade volumes and regulated products reduce volatility and increase investor confidence.

Analysts see this move as part of a broader trend of major asset managers integrating digital assets into their portfolios. Bitcoin is increasingly seen as a hedge against macroeconomic risks, such as inflation or geopolitical uncertainty — even by traditional financial players. By entering the crypto space, Amundi strengthens its leadership position and responds to growing demand for transparent and regulated investment products.

The process is part of a broader shift of capital from traditional to digital assets, as institutions seek ways to integrate Bitcoin into long-term portfolios. Amundi is expected to be followed by other European managers, and the launch could open the door for further large-scale crypto investments, making the market more sophisticated and stable. Source

Tether Surpasses 500 Million Users

Stablecoin Tether (USDT) has reached a significant milestone — 500 million users, which Tether CEO Paolo Ardoino called “likely the biggest financial inclusion achievement in history.” This milestone demonstrates that cryptocurrencies can serve not only as investment tools but also as practical instruments for people excluded from the traditional banking system.

Importantly, Tether counted actual individuals, not just wallets, meaning roughly 6.25% of the world’s population has used the largest stablecoin at least once. The World Bank estimates that 1.4 billion adults globally do not have access to a bank account, and crypto offers a solution — anyone with a phone and a crypto wallet can receive and securely store funds.

USDT has proven particularly useful in high-inflation countries or where there is a risk of funds being seized. Tether highlighted Kenya in a documentary, where people and small businesses use USDT not for speculation but for survival. Ardoino noted that 37% of users hold USDT as a store of value, and many small businesses rely on it to pay for imports, keeping operations afloat despite a weakening national currency.

USDT is the largest stablecoin by market cap at $182.4 billion, representing 58.4% market share. USDC follows with a market cap of $76.8 billion. Last month, Tether was reportedly in talks to raise up to $20 billion at a $500 billion valuation, which would make it one of the most valuable private companies in the world.

This milestone confirms that stablecoins like USDT not only support financial inclusion but are gradually becoming important tools for everyday transactions and value storage in the digital finance world. Source

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