Key Takeaways
- • US spot Bitcoin ETFs recorded USD 65.40 million in net outflows on the prior day, according to SoSoValue, with BlackRock's IBIT registering the largest outflow; total Bitcoin ETF net assets stood at USD 106.06 billion.
- • Strategy acquired 250 BTC for approximately USD 21.5 million (average USD 86,194 per bitcoin) between October 5 and 11, its fourth consecutive weekly purchase, bringing holdings to 848,250 BTC.
- • A UK High Court ruled that Chinese law governs victims' claims to more than 61,000 BTC seized by the Metropolitan Police from Zhimin Qian's Ponzi schemes.
- • Metaplanet plans to issue JPY 52 billion (about USD 340 million) in zero-interest convertible bonds due 2031 to repay Bitcoin-backed loans and fund share repurchases.
- • Bitmine's Tom Lee warned that the KOSPI sell-off could spill into crypto through brokerage margin liquidations, as the KOSPI fell 5% in Tuesday's Asian session and Bitcoin dipped to USD 81,000.
Summary
US spot Bitcoin ETFs saw net outflows of USD 65.40 million in the latest trading day, according to SoSoValue. BlackRock's IBIT accounted for the largest single outflow, while its cumulative net inflow since launch stands at USD 65.67 billion. Across the category, total net assets were USD 106.06 billion, equal to a 6.35% net asset ratio, and historical cumulative net inflows reached USD 57.04 billion.
Strategy, the world's largest corporate Bitcoin holder, announced on October 12 that it bought 250 BTC between October 5 and 11 for approximately USD 21.5 million including fees. It was the company's fourth consecutive weekly acquisition. In the same week it spent USD 192.4 million repurchasing its STRC preferred shares, roughly nine times its Bitcoin spending. As of October 13 Strategy held 848,250 BTC, with a cumulative cost of approximately USD 64 billion at an average of USD 75,444 per bitcoin.
In legal developments, UK High Court Justice Mark Turner ruled on Monday that Chinese law must determine whether victims of Zhimin Qian's Ponzi schemes, which ran in China between 2014 and 2017, have rights to more than 61,000 BTC held by London's Metropolitan Police. Victims' lawyers had sought English law or a blend of English and Chinese law, while prosecutors argued for Chinese law. The ruling sets the legal framework rather than directly distributing the bitcoin.
Tom Lee warned on October 13 that the South Korean equity sell-off could spill into crypto through margin liquidations at brokerages and because Korean investors hold significant digital assets. The KOSPI fell 5%, triggering a five-minute sidecar, and losses in South Korean equities reached roughly USD 150 billion. Bitcoin fell to USD 81,000 before recovering, and leveraged crypto traders suffered hundreds of millions of dollars in liquidations.
Metaplanet disclosed in an October 13 Tokyo Stock Exchange filing that it will issue JPY 52 billion in zero-interest convertible bonds due 2031, with net proceeds of about JPY 51.9 billion. Following a decision by CEO Simon Gerovich under board authority, JPY 23.6 billion will repay debt and up to JPY 28.3 billion will fund share buybacks. The bonds are scheduled for issuance on October 29, 2026.
Strategy, the world's largest corporate Bitcoin holder, announced on October 12 that it bought 250 BTC between October 5 and 11 for approximately USD 21.5 million including fees. It was the company's fourth consecutive weekly acquisition. In the same week it spent USD 192.4 million repurchasing its STRC preferred shares, roughly nine times its Bitcoin spending. As of October 13 Strategy held 848,250 BTC, with a cumulative cost of approximately USD 64 billion at an average of USD 75,444 per bitcoin.
In legal developments, UK High Court Justice Mark Turner ruled on Monday that Chinese law must determine whether victims of Zhimin Qian's Ponzi schemes, which ran in China between 2014 and 2017, have rights to more than 61,000 BTC held by London's Metropolitan Police. Victims' lawyers had sought English law or a blend of English and Chinese law, while prosecutors argued for Chinese law. The ruling sets the legal framework rather than directly distributing the bitcoin.
Tom Lee warned on October 13 that the South Korean equity sell-off could spill into crypto through margin liquidations at brokerages and because Korean investors hold significant digital assets. The KOSPI fell 5%, triggering a five-minute sidecar, and losses in South Korean equities reached roughly USD 150 billion. Bitcoin fell to USD 81,000 before recovering, and leveraged crypto traders suffered hundreds of millions of dollars in liquidations.
Metaplanet disclosed in an October 13 Tokyo Stock Exchange filing that it will issue JPY 52 billion in zero-interest convertible bonds due 2031, with net proceeds of about JPY 51.9 billion. Following a decision by CEO Simon Gerovich under board authority, JPY 23.6 billion will repay debt and up to JPY 28.3 billion will fund share buybacks. The bonds are scheduled for issuance on October 29, 2026.
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