Overview:
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US spot Bitcoin ETFs recorded USD 118.86 million in daily net inflows, led by BlackRock’s IBIT with USD 122 million.
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Winklevoss Asset Services filed for a spot Zcash ETF under ticker WINK.
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Robinhood disclosed USD 25 million in corporate Bitcoin holdings.
Significant events unfolded across the cryptocurrency market as spot Bitcoin ETFs pulled in 118 million in net inflows, while the US XRP ETF plummeted more than 40% from its all-time high. In addition, Winklevoss Asset Services submitted a proposal for a Zcash ETF, and Conduit initiated legal action against Tether over USD 2.76 million in frozen USDT.
Bitcoin Witnessed USD 118 million in Inflows
Data from SoSoValue indicates that Bitcoin spot exchange-traded funds registered a combined net inflow of USD 118.86 million yesterday. BlackRock’s IBIT captured the largest daily net inflow among spot funds at USD 122 million, pushing its cumulative historical net inflow to USD 65.92 billion.
Morgan Stanley’s MSBT followed as the second-largest beneficiary, bringing in a daily net inflow of USD 7.84 million and raising its total historical net inflow to USD 762.38 million.
Conversely, the Grayscale Bitcoin Mini Trust ETF BTC experienced the highest net outflow for the day, losing USD 10.97 million and bringing its historical cumulative net inflow to USD 2.97 billion.
Altogether, Bitcoin spot ETFs hold a total net asset value of USD 110.68 billion, representing an ETF net asset ratio of 6.43%. Total historical cumulative net inflows have now reached USD 57.82 billion.
First XRP ETF of the US Plunged 40%
The pioneer US spot XRP ETF has dropped more than 40% from its peak despite drawing substantial institutional investment since its inception.
The Canary XRP ETF by Canary Capital—the first exchange-traded fund in the US to hold spot XRP—currently trades at USD 15.94, marking a 40.1% decline from the peak it reached after launching in late 2025.
The investment fund is also lower by 21.24% year-to-date, positioning it among the weakest-performing crypto ETFs since rollout. Nevertheless, it has displayed signs of recovery, climbing 6.7% over the last month after hitting a floor in the USD 11 to USD 12 band.
Ever since their introduction in late 2025, the seven US spot XRP ETFs have gathered approximately USD 1.79 million in net inflows and currently maintain between USD 1.66 billion and USD 1.77 billion in assets under management.
Also Read: Bitcoin’s New Bull Market: Is the Boom-and-Bust Cycle Over?
Winklevoss Files for ZEC ETF
On October 6, 2026, Winklevoss Asset Services submitted an S-1 registration statement to the SEC for a proposed spot Zcash ETF that would directly own ZEC and trade on Nasdaq under the ticker symbol WINK.
The prospectus notes that its contents remain subject to change and that shares cannot be purchased or sold until the registration statement takes effect.
The prospective fund intends to apply a 0.25% annual sponsor fee, appoint Gemini Trust Company as custodian, and steer clear of leverage and derivative products. Affiliates of Winklevoss Capital Fund have expressed a nonbinding interest in acquiring up to USD 100 million worth of shares.
This announcement arrived while ZEC exchanges hands at USD 1,315, reflecting a decrease of roughly 3% over the prior 24 hours. Daily trading volume rests at USD 679 million, and Zcash remains higher by 11% across the last 30 days as traders anticipate that the WINK ETF news might trigger a new price surge.
Robinhood Adds USD 25 million in BTC
Robinhood has integrated Bitcoin valued at USD 25 million onto its corporate balance sheet. Johann Kerbrat, senior vice president and general manager of crypto and international, revealed the initial acquisition during an appearance on The Block’s podcast, The Starting Block.
Kerbrat made the disclosure on the same day he addressed attendees at Token2049 in Singapore. He explained that the purchase was designed to align the firm’s ethos with the broader crypto community while simultaneously downplaying the scale of the transaction.
Given that Robinhood boasts a valuation near USD 100 billion, he noted that the investment is “not going to change a lot of the current trajectory of the company.” Robinhood shares finished Tuesday at USD 112, granting the enterprise a market capitalization of approximately USD 100 billion.
Conduit Sues Tether Over Frozen USDT
Conduit Technology has brought a lawsuit against stablecoin issuer Tether in federal court regarding the freezing of USD 2.76 million in USDT for over a year, contending that the stablecoin entity improperly locked up working capital it had no jurisdiction over.
According to the legal filing, Brazilian authorities who were investigating an unrelated business never targeted Conduit’s treasury wallet for a freeze. Instead, the company alleges that Tether’s financial crime division singled out the address using proprietary internal criteria.
The lawsuit states, “Tether acted on its own initiative, through its T3 Financial Crime Unit, based on its own private criteria.” Conduit mentions that it set up the Fireblocks wallet back in May 2025 to manage corporate working capital. Prior to Tether placing a freeze on it on September 24, 2025, the wallet handled 4,427 transactions involving 78 counterparties, totaling over USD 1.1 billion in volume.
Also Read: How Ethereum Staking and its Burn Mechanism Work
FAQs:
1. How much did Bitcoin spot ETFs receive in net inflows?
According to SoSoValue, Bitcoin spot ETFs recorded USD 118.86 million in net inflows. BlackRock’s IBIT led with USD 122 million.
2. How has the first US spot XRP ETF performed?
Canary Capital’s Canary XRP ETF is trading around USD 15.94, approximately 40.1% below its peak. The fund is also down 21.24% year-to-date.
3. What is the proposed Winklevoss Zcash ETF?
Winklevoss Asset Services filed an S-1 for an ETF designed to hold ZEC directly. The proposed Nasdaq-listed fund would trade under the ticker WINK and charge a 0.25% annual sponsor fee.
4. How much Bitcoin has Robinhood added to its balance sheet?
Robinhood disclosed a USD 25 million Bitcoin position for its corporate balance sheet. Johann Kerbrat described the investment as aligning the company with the crypto community.
5. Why is Conduit suing Tether?
Conduit alleges Tether improperly froze approximately USD 2.76 million in USDT held in its treasury wallet. The company claims the freeze has remained in place for more than a year.
