Grayscale has launched its first actively managed fund, the Grayscale Dynamic Income Fund (GDIF). The GDIF will initially own assets from nine blockchains, staking them to generate income. These cryptocurrencies include Aptos, Celestia, Coinbase Staked Ethereum, Cosmos, Near, Osmosis, Polkadot, SEI, and Solana. The earnings from staking will be distributed quarterly in U.S. dollars. The move is expected to introduce investors to the concept of multi-asset staking through a single convenient investment vehicle.

Grayscale's GBTC had its largest day of outflows yet, contributing $642.5 million to a total net outflow of $154.4 million across all spot bitcoin ETFs. This occurred despite the $451.5 million inflow into BlackRock's IBIT ETF. The total net inflow into these ETFs currently stands at over $12 billion.

A five-day streak of withdrawals from spot Bitcoin ETFs resulted in a record $888 million outflow last week, causing sentiment to shift in the space. Notably, Grayscale's GBTC had large outflows that may have been a result of the liquidation of Genesis. Despite lower inflows than recent weeks, trading volume for these products remained high, with volumes increasing around $22 billion to reach $164 billion.

Despite perceived SEC disengagement, the precedent set by Bitcoin ETF approvals and similar issues suggests Ethereum ETFs should also be approved for consistency and investor access.

Grayscale, creators of the GBTC trust-turned-ETF, has announced a Bitcoin Mini Trust with an industry-leading 0.15% fee. 10% of GBTC's assets will be contributed to the mini trust and automatically distributed to GBTC holders, giving them a non-taxable event to migrate to the lower-fee product. The Bitcoin Mini Trust will trade under the BTC ticker.

Crypto asset manager Grayscale has launched two new investment trusts for Near Protocol (NEAR) and Stacks (STX) available to individual and institutional accredited investors.

The SEC has approved eight spot Ethereum ETFs from issuers, including BlackRock, Fidelity, and Grayscale, months after approving spot Bitcoin ETFs. While the approval of the 19b-4 forms marks a significant step, trading will only start after the S-1 statements have been registered, which may take weeks.

Grayscale's new Ethereum ETF might see large outflows (~$110 million daily in its first month) if its Ethereum ETF mimics its Bitcoin ETF's performance.

A Harris Poll survey conducted for Grayscale reveals a growing interest in cryptocurrency among U.S. voters as the 2024 election approaches. Nearly one-third of American voters are now more inclined to invest in Bitcoin or other cryptocurrencies following the approval of a Bitcoin ETF. This shift is driven largely by macroeconomic factors like inflation, with many voters expecting or wanting to include crypto in their investment portfolios.

Grayscale is launching the first US-based XRP Trust, providing select investors with exposure to the Ripple token through a "closed-end" fund. Speculation is growing that an XRP ETF could be next in line following the success of its Bitcoin and Ethereum trusts, which were converted into ETFs earlier this year.

Grayscale has announced the launch of the first U.S. XRP Trust, providing select investors with exposure to the Ripple token. Following a similar trajectory to its Bitcoin and Ethereum trusts, which eventually became ETFs, the market is now speculating that an XRP ETF could be next.

Stacy Muur recently shared insights on the evolving landscape of cryptocurrency and Web3 technologies, particularly as we enter the fourth quarter of the year. She highlighted Grayscale's latest list of top-20 crypto assets, which now includes six new entrants: Sui Network ($SUI), Bittensor ($TAO), Optimism ($OP), Helium ($HNT), Celo ($CELO), and UMA Protocol ($UMA). This update invites discussion on the potential of these assets in the upcoming quarter. In a previous post, Muur discussed the recent $3.2 million seed round announced by Rise Chain, which has garnered attention due to participation from notable figures like Vitalik Buterin. This funding aims to develop a new layer-2 solution termed "Gigagas," which seeks to significantly enhance blockchain throughput. Muur explained the transition from merely scaling to maximizing speed, with Rise Chain aiming to achieve over 1 billion gas units processed per second, marking a shift into what she calls the "Gigagas Era." Muur also examined the driving forces behind Web3, identifying speculation, yields, and the culture of "degening" as key elements. She noted the rise of platforms like Polymarket and LogX Trade, which have seen substantial increases in total value locked (TVL) and trading volume, respectively. LogX Trade aims to consolidate various speculative activities, including perpetuals, leveraged prediction markets, and gaming, into a single platform. Privacy remains a significant barrier to Web3 adoption, according to Muur. She pointed out the challenges associated with data handling in current blockchain setups, where data must be decrypted for computations, creating potential vulnerabilities. Nillion Network is highlighted as a project addressing these privacy concerns, aiming to improve the efficiency and security of data processing. In the realm of gaming, Muur noted that while GameFi has been a strong contender for driving adoption, it has faced challenges. She referenced a report from Delphi Digital that outlines the current state of Web3 gaming, which has seen a decline in market capitalization but still accounts for a significant portion of decentralized application activity. Muur also provided insights into upcoming airdrop programs worth exploring in Q4 2024, emphasizing the importance of staying informed about these opportunities. She mentioned Morpho Labs, a lending platform that has quickly risen in prominence within the DeFi space. Lastly, she touched on the implications of token unlocks, referencing research from Messari Crypto that explores how these events can serve as potential sell signals in the market. Muur's analysis underscores the importance of understanding market dynamics and the various factors influencing the cryptocurrency landscape as it continues to evolve.