Stay in the loop with our weekly crypto digest as we get you up to speed on the hottest trends and events in the crypto space.
Here’s what happened in crypto this week:
UK Bitcoin ETPs From BlackRock And Others Start Trading In London After FCA Ends Ban
BlackRock’s iShares Bitcoin ETP is now trading on the London Stock Exchange, following the FCA’s decision to lift its retail crypto ban. This opens regulated Bitcoin access for UK investors.
The Financial Conduct Authority (FCA) lifted the ban on crypto ETNs for professional investors in March 2024, though the ban on retail access to such products remained firmly in place.
It was not until August this year that the financial watchdog shifted its stance, announcing it would allow private investors to access crypto ETPs from October 8th, 2025 if they are listed on a regulated investment exchange.
Individual investors will now be able to access the products using standard brokerage accounts and tax efficient Stocks and Shares ISA and SIPP accounts until April 2026, at which time they will only be accessible for new investment through Innovative Finance ISAs.
Japan Mulls Allowing Local Banks To Buy And Sell Crypto
Japan’s Financial Services Agency (FSA) is considering letting local banks buy and sell cryptocurrencies and is set to discuss reforms in an upcoming meeting that could integrate crypto into traditional banking.
If approved, banks could become key players in crypto trading and custody, potentially boosting retail access. This follows Japan’s history of progressive crypto policies, further bridging TradFi and DeFi.
Coinbase Buys Cobie’s Up Only NFT For $25 Million
According to onchain data, Coinbase paid the well-known crypto trader Jordan Fish, also known as Cobie, $25 million in USDC for his Up Only NFT.
For context, in May, Cobie said if someone bought the NFT, he would restart his podcast, which has not had a new episode since December 2022, shortly after the FTX collapse. The NFT’s fine print states that if bought, Cobie and his cohort Ledger have to produce eight episodes of the once-popular podcast.
Coinbase CEO Brian Armstrong later confirmed the purchase. “The rumors are true, we bought the NFT. Up Only TV is coming back,” he said in a post to X.
Coinbase Acquires Echo For $375 Million To Dive Into On-Chain Fundraising
Coinbase Global is acquiring fundraising platform Echo for approximately $375 million in cash and stock.
The deal adds Echo’s Sonar token-sale infrastructure, which has raised over $200 million so far, to Coinbase’s offering.
The exchange plans to integrate crypto capital-formation tools and eventually support tokenized securities and real-world assets, reinforcing its strategic push into early-stage blockchain investing.
Solana Quietly Ends Support For Saga Mobile Phone Just Two Years After Launch
Solana Mobile has discontinued support for its Saga phone, launched in 2023, after just two years.
No more software updates or security patches will be provided, shifting focus to their new device, the Seeker.
This decision raises eyebrows, especially given the short lifecycle of a $1,000 Web3-focused device. Users are left without critical updates, potentially impacting security.
Hong Kong’s First Spot Solana ETF Starts Trading On October 27
Hong Kong has launched its first spot Solana (SOL) ETF, set to begin trading on October 27th, marking a significant step for crypto adoption in Asia, with Solana joining Bitcoin and Ethereum in regulated investment products.
This ETF positions Solana as the third major crypto asset to gain such approval in Hong Kong, following successful BTC and ETH ETFs earlier this year.
Crypto Trading Firm FalconX To Buy ETF Manager 21Shares
Crypto trading firm FalconX is set to acquire ETF manager 21Shares, as reported by the Wall Street Journal.
The leading institutional crypto prime broker aims to bolster its portfolio by integrating 21Shares’ expertise in crypto ETFs. This acquisition aligns with FalconX’s recent moves, like staking a majority in Monarq Asset Management.
21Shares, known for its diverse ETF offerings including Solana and Polkadot, brings significant value. This deal could accelerate institutional adoption, blending trading prowess with structured investment products.
Final Thoughts
So that’s it for this week!
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Have a fantastic week ahead!
