The Daily: Bitcoin ETFs record third-largest daily inflows, Trump win could impact Bitcoin less than Ethereum and more
2024-10-31

Happy Wednesday! In today's newsletter, BlackRock's IBIT dominates as spot Bitcoin ETFs record their third-largest daily inflows, Bitwise CIO Matt Hougan says a Donald Trump election win would be more impactful for Ethereum than Bitcoin, liquid restaking protocol Swell switches to OP Stack for its Layer 2 and more.
Meanwhile, Kraken sheds "organizational layers" as board member Arjun Sethi steps up as co-CEO.
Let's get started.
Spot Bitcoin ETFs record $870 million in daily inflows, largest since June
BlackRock's IBIT led U.S. spot Bitcoin ETF inflows with $643 million added on Tuesday, contributing to a total of $870 million in daily net inflows — the largest since June and third-largest to date as bitcoin reapproached its record high of nearly $74,000.
Trump election win would be more impactful for Ethereum and altcoins than Bitcoin
Bitwise CIO Matt Hougan sees regulatory clarity as more crucial for Ethereum and altcoins than Bitcoin. A Donald Trump win could potentially spark a stronger rally for these assets.
Swell switches to OP Stack to develop rollup, replacing Polygon CDK plan
Liquid restaking protocol Swell is transitioning its planned Layer 2 from Polygon CDK to Optimism's Superchain ecosystem, developing an optimistic rollup via the OP Stack.
Chainlink unveils major upgrade key to expanding its use to 'thousands of blockchains'
Decentralized oracle network Chainlink unveiled a major platform upgrade at SmartCon 2024 on Wednesday, key to expanding its use to "thousands of blockchains."
Test token for Magic Eden's forthcoming airdrop crosses $6 million market cap
A supposed test token from the Solana-based NFT marketplace Magic Eden called TestME has reached a market cap of $6.2 million, according to DEX Screener.
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