🚨JUST IN: WRAPPED BITCOIN, $WBTC, LAUNCHES ON @HEDERA NETWORK THROUGH COLLABORATION WITH @BITGO, @BITGLOBALTRUST AND @LAYERZERO_CORE ...

Core Viewpoint - Grayscale Investments has filed for an initial public offering (IPO) of its Class A common stock with the SEC, intending to list on the NYSE under the ticker symbol "GRAY" [1][3]. Company Structure - Grayscale will issue two classes of shares: Class A shares will have one vote per share and carry economic rights, while Class B shares will have ten votes each but no economic rights [4]. - Digital Currency Group (DCG), Grayscale's parent company, will maintain control through ownership of both share classes, classifying Grayscale as a "controlled company" under NYSE regulations [5]. IPO Proceeds and Structure - Proceeds from the IPO will be used to buy membership interests from existing members at the offering price, net of underwriting fees [6]. - The IPO will follow an "Up-C" structure, separating the public corporation from the operating LLC, which will not receive any proceeds from the sale [6]. Underwriting and Regulatory Status - Underwriters have an option to buy additional shares to cover over-allotments, and Grayscale qualifies as an "emerging growth company," facing lighter financial reporting requirements [7]. Industry Context - The digital asset space has seen increased momentum for crypto-related public offerings, with notable recent IPOs including tZero Group and BitGo [8]. - Circle, a stablecoin issuer, experienced significant success with its IPO in June 2025, surging more than sevenfold since going public [9].

Avalanche Ecosystem Updates - Points Market is in full swing, with Season 1 beginning on Tuesday [1] - Thirdweb added full x402 support for builders launching on Avalanche [1] - Total RWA (Real World Assets) value on Avalanche reached over $22 billion in stablecoins, indicating significant institutional adoption [1] - Avalanche surpassed 8 billion total transactions, demonstrating substantial growth across L1s (Layer 1 blockchains) [3] Partnerships and Integrations - BitGo x Hypha partnership brings institutional-grade access to Avalanche staking, allowing clients to stake and redeem $AVAX directly [1] - Pangolindex joined Base Turkiye's builder event, strengthening Web3 connections across ecosystems [2] New Features and Developments - Blaze Stream went public with its test stream, marking a new era for Web3 live experiences [2] - The Arena App V2 expansion kicked off, revealing new multichain features, onboarding, and the rise of ArenaPedia [2] - GoKiteAI built a trusted AI environment using x402s on Avalanche, powering the next wave of on-chain AI agents [3]

Bitcoin Staking - Babylon has $6 billion in Bitcoin activated for trustless staking [1] - Staking yields 4-6% in BTC, not governance tokens [1] - This represents a significant BTC yield deployment outside of ETFs [1] Custody and Infrastructure - BitGo HEX Trust and Copper Custody are live [1] Network Upgrade - Mainnet upgrade scheduled for November 14 [1] Tokenomics - 20,000 baby tokens boost 1 BTC rewards [1]

Core Insights - World Liberty Financial is expanding its cryptocurrency project by integrating its USD1 stablecoin into the Solana blockchain through partnerships with Bonk and Raydium [1][2] - The initiative aims to position USD1 as a competitive alternative to Circle's USDC, which currently leads the stablecoin market on Solana [2][4] Group 1: Partnership and Integration - The collaboration with Bonk and Raydium is intended to embed USD1 at the infrastructure level of Solana's DeFi activities, enhancing liquidity and community engagement [3] - New USD1-based trading pairs and token launches will be introduced, along with multi-million-dollar promotional incentives for liquidity providers and traders [4] Group 2: Market Position and Growth - Since its launch in April 2025, USD1 has rapidly grown to $2.91 billion in circulation by November, making it one of the fastest-growing stablecoins this year [5] - USD1 is backed 1:1 by assets in U.S. government money market funds and other cash equivalents, and is custodied by BitGo [5] Group 3: Strategic Moves and Market Impact - World Liberty Financial has begun acquiring USD1 for its strategic reserves to support liquidity and market-making operations [6] - Following the announcement of the partnership, the native token WLFI surged nearly 10% in 24 hours, increasing its market capitalization to approximately $3.33 billion [6]

Core Insights - Ripple Labs attempted to buy back $1 billion worth of shares at a valuation of $40 billion, up from $28 billion in June, but faced low participation rates from shareholders [1][2] - The surge in valuations reflects ongoing public market enthusiasm for crypto companies, despite fluctuations in cryptocurrency prices [2][3] - The crypto industry has seen significant IPO activity, with companies like Circle achieving substantial market caps and driving investor interest in pre-IPO stakes [5][6] Ripple Labs - Ripple's buyback attempt in September was unsuccessful, indicating a reluctance among shareholders to sell their stakes in promising companies [1][2] - The company's valuation increase to $40 billion suggests strong market confidence in its future prospects [1] Market Trends - The crypto market is experiencing a valuation frenzy, with several companies going public and analysts predicting further growth [3][4] - Institutional adoption and regulatory changes under the current administration are contributing to this bullish sentiment [4] IPO Performance - Circle's IPO in June was a significant success, with its stock price increasing by 93% in the first week and 300% from its listing price, leading to a market cap of $27 billion [5] - Other crypto companies like Bullish and Gemini have had mixed IPO results, but investor enthusiasm remains high for pre-IPO opportunities [6][7]

RT Hypha🌱 (@hypha_sh)Hypha is partnering with @BitGo to bring Institutional-Grade access to Avalanche stakingWith this integration, BitGo clients can now stake $AVAX, mint $stAVAX, and redeem it back to $AVAX directly within their BitGo interface1/3 https://t.co/KUydYeBCOd ...

RT Josh Swihart 🛡 (@jswihart)There are no custody providers currently supporting shielded ZEC. I’m getting significant inbound inquiries.@Anchorage @BitGo @CoinbaseInsto @Gemini - seems like a big opportunity. ...

Core Insights - Swiss-based asset manager 21Shares has filed with the SEC to launch a Hyperliquid ETF, indicating a growing institutional interest in altcoin-linked investment products [1][9] - The proposed ETF will track the HYPE token associated with the Hyperliquid perpetual futures protocol and blockchain, with Coinbase Custody and BitGo Trust listed as custodians [3][4] - The filing comes amid increasing competition among asset managers, as Bitwise has also filed for a similar Hyperliquid ETF, highlighting the demand for decentralized trading ecosystem exposure [4][9] Market Trends - The HYPE token has seen a steady price increase this year, reflecting the rising trading volume and user base of the Hyperliquid protocol [5] - Recent launches of altcoin-based ETFs, such as Bitwise's Solana Staking ETF, which recorded $72 million in trading volume on its second day, demonstrate strong market interest [5][6] - Grayscale's entry with the Grayscale Solana Trust ETF also indicates a competitive landscape, with its first-day trading volume of $4 million being considered healthy [6] Regulatory Environment - The SEC's review of 21Shares' Hyperliquid ETF will be crucial in determining the addition of another altcoin-focused product to the growing list of US-listed crypto ETFs [7]

Core Insights - 21Shares has filed for an exchange-traded fund (ETF) that will track the token of the Hyperliquid decentralized exchange, indicating a growing interest in crypto-focused investment products [1][2] - The proposed 21Shares Hyperliquid ETF would be the second HYPE-focused ETF in the U.S. market, following a similar proposal by Bitwise [2] - The SEC is currently reviewing over 90 applications for crypto-focused ETFs, which include various altcoins and strategies [3] Company and Product Details - Hyperliquid is a decentralized exchange specializing in perpetual futures trading, and the ETF would provide investors exposure to its native token, HYPE, which has a market capitalization of $12.7 billion [4] - HYPE is currently trading at $47.55, reflecting a 2.7% increase in the last 24 hours and over 32% in the past week [5] Market Context - Asset managers are responding to strong demand for crypto-focused products, supported by a more favorable political and regulatory environment for digital assets [6] - Bitcoin-focused funds have achieved significant success, managing over $155 billion in assets, while Ethereum funds control $23.4 billion, with substantial growth in recent months [7] - These funds have provided traditional investors and institutions with easier access to crypto investments through shares traded on stock exchanges, addressing previous concerns about the complexities and security of direct digital asset ownership [8]