Institutional flows and strategic partnerships set the tone across crypto markets today: US spot Bitcoin ETFs saw their largest weekly inflows since 2023, Binance announced a significant investment in Circle, and large XRP holders continued heavy accumulation even as an XRP Ledger upgrade was postponed.
Bitcoin and altcoin ETFs post strong inflows
US spot Bitcoin ETFs recorded $2.4 billion of inflows for the week ending September 25, the biggest weekly total since October 2023. Those flows moved year-to-date net flows into positive territory at $934.1 million after net outflows had reached -$5.8 billion in July. BlackRock’s IBIT led inflows with $1.2 billion, followed by Fidelity’s FBTC with $701.7 million, and total cumulative assets across Bitcoin ETFs reached $108.4 billion.
Ethereum ETFs also attracted capital, recording $689.9 million in inflows over the same period, while Solana ETFs posted a record single-day inflow of $86.7 million. These ETF moves reflect renewed institutional demand for crypto exposure via regulated funds. A spot ETF is a fund that holds the underlying cryptocurrency directly rather than derivatives or futures.
Saylor pushes for Bitcoin banking services
MicroStrategy Chairman Michael Saylor proposed banks should offer custody and Bitcoin-backed lending services, criticizing Basel regulatory treatment that applies a 1,250% risk weight to crypto assets. Speaking at a Bitcoin Policy Institute event, Saylor outlined a vision in which the digital asset sector could expand markedly, he cited a potential $100 trillion market driven by AI agents operating continuously, and signaled plans to engage the SEC, the CFTC, and the Treasury Department following the collapse of the CLARITY initiative.
Binance invests $100 million in Circle
Binance invested $100 million in Circle and signed a five-year agreement to promote USDC on its platform, with particular emphasis on emerging markets. Analysts noted the deal aligns Binance and Circle interests in a manner comparable to Circle’s relationship with Coinbase, while also observing that Tether (USDT) continues to hold a liquidity lead. Market capitalisations mentioned in reporting put USDC at about $75 billion versus USDT at roughly $183, $187 billion. USDC is a dollar-pegged stablecoin issued by Circle.
XRP whales accumulate amid ETF inflows
Major XRP holders accumulated more than 470 million tokens, worth approximately $724 million, over five days, coinciding with the eleventh consecutive week of inflows into XRP spot ETFs that totaled $1.79 billion. XRP traded in a $1.55, $1.58 range during the period, marking a weekly gain near 10%, with analysts watching resistance at $1.60. Separately, the US Securities and Exchange Commission issued informal guidance on token buybacks and staking after the CLARITY proposal failed.
XRP Ledger upgrade delayed after validator support dips
The XRP Ledger's 'Batch' upgrade, designed to enable up to eight transactions with an all-or-nothing guarantee, was delayed by at least 10 days when validator support momentarily fell below the 80% threshold, which reset the activation countdown. That pushed the earliest possible activation to October 9. This was the second attempt at activating the upgrade after the initial version was withdrawn due to a discovered vulnerability. A related change, PermissionDelegationV1_1, was also affected and now targets activation on October 8.
The day in brief
Today's coverage highlights a resurgence of institutional demand for Bitcoin via spot ETFs and renewed strategic activity among major firms, balanced by technical and regulatory developments in other parts of the market. A major exchange's investment in a stablecoin issuer, concentrated buying by large XRP holders, and a delayed ledger upgrade together illustrate the mix of capital flows, corporate deals and engineering challenges shaping the sector.
Note: details in this report are drawn from the day's compiled brief; due to source transcription issues, names or references in the original may contain minor errors. Content is for informational purposes and not investment advice. CRYPTO NEWS may have financial relationships with entities mentioned.