CoinSpotMarket Update
Bitcoin Starts 'Uptober' With A Bang
3 minutes
13 days ago
3 minutes
13 days ago
October has arrived, Bitcoin’s best-performing month historically based on a median average (+14.7%). Dubbed ‘Uptober’ by the crypto crowd, October has been a green month for Bitcoin every year since 2019. And suffice it to say, this month is off to a great start. It comes as August and September, historically two of Bitcoin’s weakest months on average, are now in the rearview mirror.
In terms of quarterly returns, Q4 (October through December) is historically Bitcoin’s best, based on a mean average (+79.1%) and median average (+47.7%), according to CoinGlass data.
Spot Solana ETF approvals in the U.S. may arrive as soon as next week, as issuers prepare for launch under the generic listing standard recently adopted by the Securities and Exchange Commission (SEC). These standards facilitate SEC approval for crypto ETFs, circumventing the need for individual rule-change forms and thus streamlining a process that previously required thorough regulatory review for each asset.
According to Bloomberg Intelligence analyst Eric Balchunas, the odds of a Solana ETF approval “are really 100% now.” Earlier this week, Blockworks reported that issuers are preparing for the SEC’s green light to potentially come for Solana ETFs within days. One issuer reported “high conviction” that Solana ETFs would be approved in the first half of October.
World Liberty Financial (WLFI) is working to tokenise real-world assets (e.g. oil, gas), pairing them with its USD1 stablecoin, according to its CEO Zack Witkoff, who spoke at Token2049 on Wednesday alongside co-founder Donald Trump Jr., the eldest son of U.S. President Donald Trump.
"We've not only thought about it, we're actively working on it," Witkoff said. "I think commodities are a really interesting area for us, whether it be oil, gas, things like cotton, timber, all of those things, frankly, should be traded on chain."
The decentralised finance (DeFi) project is also developing a debit card, which is expected to launch in late 2025 or early 2026. As part of their panel session, both Witkoff and Trump Jr. clarified that World Liberty Financial is global in nature and is not a political organisation. The team also announced on Wednesday that USD1 will launch on Aptos, marking the first Move-based blockchain to support the stablecoin.
