Overview:
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US spot Bitcoin ETFs recorded USD 487.07 million in net outflows, led by BlackRock’s IBIT at USD 207.67 million and Fidelity’s FBTC at USD 105.15 million.
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Greece proposed a 10% capital gains tax with a EUR 500 annual exemption, and Samsung announced USDC transfers through Solana for eligible US Galaxy users.
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HYPE declined 4.32% to USD 87.07 following a significant institutional token unstaking.
The cryptocurrency market saw notable developments on October 8, 2026, marked by USD 487 million in net outflows from Spot Bitcoin ETFs. Concurrently, Greece revealed a draft bill to establish a 10% capital gains tax on digital assets. In market standing, NEAR Protocol surpassed Stellar to enter the top 20 cryptocurrencies, while Hyperliquid dropped more than 4% to trade around USD 87.
Bitcoin Witnessed Million Dollar Outflows
Data from SoSoValue indicates that spot Bitcoin exchange-traded funds suffered a combined net outflow of USD 487.07 million yesterday.
BlackRock’s IBIT experienced the largest daily net outflow at USD 207.67 million, bringing its historical cumulative net inflow to USD 65.72 billion.
Fidelity’s FBTC followed with the second-highest daily net outflow of USD 105.15 million, taking its total historical net inflow to USD 10.72 billion.
Altogether, spot Bitcoin ETFs hold a total net asset value of USD 107.40 billion, representing an ETF net asset ratio of 6.41%. Total historical net inflows have reached USD 57.33 billion.
Greece Plans 10% Crypto Capital Gains Tax
According to a newly published draft bill open for public comment, Greece intends to levy a 10% capital gains tax on cryptocurrencies. Annual crypto profits up to EUR 500 (roughly USD 560) would be exempt from the tax. At present, the nation lacks a formal comprehensive legal framework for crypto taxation, the report noted.
The newly proposed rate is lower than the 15% rate initially floated in June. At that time, two government sources told Reuters that individual crypto mining activities would be spared from taxation, whereas corporate mining operations would remain taxable.
The officials also pointed out that determining the exact size of the domestic crypto market is challenging because most local investors utilize overseas-based platforms. Furthermore, Reuters noted that no official estimates exist regarding potential tax revenues.
Also Read: Bitcoin FAQs: 10 Common Questions About BTC in 2026
Samsung Taps Solana for USDC Transfers
Samsung is integrating stablecoin functionality into everyday applications via Samsung Wallet, utilizing the Solana blockchain as its underlying infrastructure. Beginning in the final week of October 2026, qualifying US Galaxy device owners will gain the ability to execute cross-border USDC transfers directly inside the Samsung Wallet. According to announcements from Samsung and Solana, the capability will initially roll out to roughly 82 million compatible US Galaxy devices.
NEAR Protocol Hits Top 20
Over a 24-hour period, NEAR Protocol (NEAR) rallied 8.7%, consolidating in a price channel between USD 5.31 and USD 5.41. With a valuation of USD 7 billion, the asset overtook Stellar (XLM) to secure the 20th position on CoinGecko’s market capitalization leaderboard. This milestone coincided with the commercial debut of the first post-quantum asset hosted on near.com.
The asset, known as the QTC native token of the Quantus Network, utilizes the NIST-endorsed ML-DSA cryptographic standard to provide complete immunity against supercomputer attacks. This development transitions academic debates surrounding quantum vulnerabilities in Web3 into functional, real-world utility.
HYPE Drops 4% to USD 87
HYPE changed hands at USD 87.07, marking a 4.32% loss over 24 hours and a 2.10% decrease over the span of a week. Daily trading volume hovered around USD 772.88 million, backed by a circulating supply of approximately 220 million tokens.
Hyperliquid Labs successfully finished a seven-day unstaking period for 3.75 million HYPE tokens—valued at approximately USD 330 million—which frees up tokens tied to a private institutional agreement for wallet-to-wallet transfers.
Onchain Lens reported on October 7 that these tokens arrived in Hyperliquid Labs’ spot wallets, with an initial batch of 1.875 million HYPE distributed across five addresses. Each recipient wallet secured 375,000 tokens, accounting for half of the total 3.75 million-token pool.
The tracking service explained that these assets stem from an over-the-counter (OTC) arrangement with a confidential institutional partner and are not intended for immediate liquidation on public exchanges. OTC deals allow participating entities to negotiate transactions privately without routing large order volumes through public market order books.
Also Read: Ethereum Supply: Is ETH Becoming Inflationary Again?
FAQs:
1. Why did Bitcoin ETFs record USD 487 million in outflows?
US spot Bitcoin ETFs registered net outflows totaling USD 487.07 million, based on data from SoSoValue. BlackRock’s IBIT spearheaded the redemptions with USD 207.67 million, trailed by Fidelity’s FBTC at USD 105.15 million.
2. What is Greece’s proposed cryptocurrency capital gains tax?
The Greek government has outlined a 10% capital gains tax on digital currency earnings, providing an exemption for yearly gains not exceeding EUR 500. This measure is currently undergoing public review and has not yet been enacted into law.
3. How will Samsung’s partnership with Solana benefit Galaxy users?
Starting in late October 2026, Samsung plans to deploy USDC-enabled cross-border remittances within Samsung Wallet. The upgrade is set to service qualifying users across an estimated 82 million US Galaxy models.
4. Why did NEAR Protocol enter the top 20 cryptocurrencies?
NEAR Protocol experienced an 8.7% 24-hour price gain, trading between USD 5.31 and USD 5.41 with a USD 7 billion market capitalization. This climb aligned with the launch of the Quantus Network’s quantum-resistant QTC token.
5. Why did Hyperliquid’s HYPE price fall over 4%?
The price of HYPE pulled back by 4.32% to roughly USD 87.07 amid market focus on the release of 3.75 million unstaked tokens worth about USD 330 million. While tied to a private institutional OTC contract, a direct causality between this release and the price movement has not been formally confirmed.
