Key Takeaways
- • U.S. spot Bitcoin ETFs recorded $175.99 million in net inflows on October 27, according to SoSoValue data, with all 12 tracked funds avoiding net outflows; BlackRock's IBIT led with $151.46 million.
- • Total net assets across the spot Bitcoin ETFs reached $103.94 billion, while cumulative net inflows stood at $57.47 billion.
- • Google Cloud introduced a private-preview institutional crypto custody service based on multi-party computation (MPC), with commercial availability planned for early 2027.
- • Ethereum developers merged a fix on October 26 for a conditional Glamsterdam upgrade flaw that could have redirected certain validator deposits to block builders; no losses were reported.
- • Robinhood's cryptocurrency transaction revenue fell 55% year over year to $120 million, even as event-contract revenue grew more than sixfold and overall transaction revenue rose 19% to $867 million.
- • The CFTC is examining whether Polymarket complied with a 2022 settlement requiring it to block U.S. users from its offshore platform; the CFTC and Polymarket declined to comment.
Summary
U.S. spot Bitcoin exchange-traded funds attracted $175.99 million in net inflows on October 27, according to SoSoValue data. BlackRock's iShares Bitcoin Trust (IBIT) led with $151.46 million, while Fidelity's Wise Origin Bitcoin Fund (FBTC) added $24.54 million. Total net assets across the funds reached $103.94 billion, and cumulative net inflows stood at $57.47 billion. The session followed a difficult stretch for institutional crypto products, when Bitcoin and Ethereum ETFs had experienced substantial withdrawals. The source cautions that a few positive sessions do not establish a sustained recovery, particularly while flows into other crypto investment products remain uneven.
Google Cloud introduced a private-preview cryptocurrency custody service built on multi-party computation (MPC), targeting banks and other financial institutions. MPC divides control of cryptographic keys across multiple participants or environments, so transactions are authorized through a coordinated signing process rather than a single location holding the full private key. According to the report, commercial availability is planned for early 2027. Alphabet already uses the technology to secure digital assets on Ethereum and Solana, and several financial institutions are testing the service. The source notes that MPC reduces single-key compromise risk but does not eliminate security threats, and institutions still require access controls, monitoring, and recovery procedures.
Ethereum developers fixed a flaw in the upcoming Glamsterdam upgrade that could have redirected certain validator deposits to block builders. The issue involved deposits waiting to be credited in a specific scenario and could have complicated recovery for the staking service involved. The fix was merged into Ethereum's consensus specifications on October 26. The researcher who identified the issue described it as conditional, and no losses were reported. Client implementation and further testing remain before the changes can be deployed across the network.
Hyperliquid generated $63.94 million in 30-day holder revenue through its HYPE buyback mechanism, according to DefiLlama data. The protocol's Assistance Fund directs most eligible fees toward open-market HYPE purchases. The figure measures value attributed to the buyback mechanism and should not be read as cash distributed to individual holders, and buybacks do not guarantee price appreciation.
Robinhood reported weaker-than-expected third-quarter results. According to Reuters, its cryptocurrency transaction revenue fell 55% year over year to $120 million, while overall transaction-based revenue rose 19% to $867 million, supported by options and event contracts. Revenue from event contracts grew more than sixfold, and the CFTC-linked prediction market business was described by the chief financial officer as approaching a $500 million annual run rate. Earnings of $0.51 per share missed analysts' expectations of $0.55, and shares fell 7% in after-hours trading.
Separately, the U.S. Commodity Futures Trading Commission is examining whether Polymarket complied with a 2022 settlement requiring it to block U.S. users from its offshore prediction market, according to Reuters reporting published October 27. The review covers location-detection controls, U.S. advertising, and onboarding and customer protections on the company's newer U.S. platform. The CFTC and Polymarket declined to comment, and an investigation does not establish that a violation occurred.
PEPE rose nearly 12% on October 28 after reports that wallets linked by Arkham Intelligence to Tron founder Justin Sun held roughly $51.25 million of the meme coin. Attribution does not establish ownership with certainty. CoinGlass data showed PEPE futures volume up 72.67% to $587.89 million and open interest up 7.10% to $316.14 million. Traders are watching resistance near $0.0000050.
The Federal Reserve's October 28 interest rate decision is a key macro event for crypto markets. Markets widely expected the Fed to hold its benchmark rate at 3.75%-4.00%, according to a Fed preview, with attention on Chair Kevin Warsh's comments and the possibility of another increase in December. U.S. CPI inflation reached 3.7% year over year in September, up from 3.4% in August. At the time of writing, the decision had not been confirmed in the sources reviewed.
Google Cloud introduced a private-preview cryptocurrency custody service built on multi-party computation (MPC), targeting banks and other financial institutions. MPC divides control of cryptographic keys across multiple participants or environments, so transactions are authorized through a coordinated signing process rather than a single location holding the full private key. According to the report, commercial availability is planned for early 2027. Alphabet already uses the technology to secure digital assets on Ethereum and Solana, and several financial institutions are testing the service. The source notes that MPC reduces single-key compromise risk but does not eliminate security threats, and institutions still require access controls, monitoring, and recovery procedures.
Ethereum developers fixed a flaw in the upcoming Glamsterdam upgrade that could have redirected certain validator deposits to block builders. The issue involved deposits waiting to be credited in a specific scenario and could have complicated recovery for the staking service involved. The fix was merged into Ethereum's consensus specifications on October 26. The researcher who identified the issue described it as conditional, and no losses were reported. Client implementation and further testing remain before the changes can be deployed across the network.
Hyperliquid generated $63.94 million in 30-day holder revenue through its HYPE buyback mechanism, according to DefiLlama data. The protocol's Assistance Fund directs most eligible fees toward open-market HYPE purchases. The figure measures value attributed to the buyback mechanism and should not be read as cash distributed to individual holders, and buybacks do not guarantee price appreciation.
Robinhood reported weaker-than-expected third-quarter results. According to Reuters, its cryptocurrency transaction revenue fell 55% year over year to $120 million, while overall transaction-based revenue rose 19% to $867 million, supported by options and event contracts. Revenue from event contracts grew more than sixfold, and the CFTC-linked prediction market business was described by the chief financial officer as approaching a $500 million annual run rate. Earnings of $0.51 per share missed analysts' expectations of $0.55, and shares fell 7% in after-hours trading.
Separately, the U.S. Commodity Futures Trading Commission is examining whether Polymarket complied with a 2022 settlement requiring it to block U.S. users from its offshore prediction market, according to Reuters reporting published October 27. The review covers location-detection controls, U.S. advertising, and onboarding and customer protections on the company's newer U.S. platform. The CFTC and Polymarket declined to comment, and an investigation does not establish that a violation occurred.
PEPE rose nearly 12% on October 28 after reports that wallets linked by Arkham Intelligence to Tron founder Justin Sun held roughly $51.25 million of the meme coin. Attribution does not establish ownership with certainty. CoinGlass data showed PEPE futures volume up 72.67% to $587.89 million and open interest up 7.10% to $316.14 million. Traders are watching resistance near $0.0000050.
The Federal Reserve's October 28 interest rate decision is a key macro event for crypto markets. Markets widely expected the Fed to hold its benchmark rate at 3.75%-4.00%, according to a Fed preview, with attention on Chair Kevin Warsh's comments and the possibility of another increase in December. U.S. CPI inflation reached 3.7% year over year in September, up from 3.4% in August. At the time of writing, the decision had not been confirmed in the sources reviewed.
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