AGP Executive Report
Last update: 11 hours agoBitcoin Markets: Bitcoin traded near $83,300 on Oct. 21 after U.S. spot funds drew $526.7 million on Oct. 19, led by BlackRock’s IBIT. BlackRock has also filed for a fund designed to limit losses, in exchange for capping potential gains. Institutional Adoption: JPMorgan brought its dollar deposit token to public Ethereum for approved clients and forecasts bitcoin returns of 10% a year over the next decade. Switzerland approved its first retail fund holding bitcoin directly. Ethereum: Staked ETH hit a record 43.8 million, or 35.9% of supply, while yields slipped to 2.63%. Crypto Security: Ngrave users lost about $2.56 million after fake app alerts tricked them into sharing wallet recovery phrases. Separately, a wallet tied to the Drift hack moved about $63 million in ETH through Tornado Cash. Regulation: South Korea’s crypto tax may face another delay as political pressure grows; Kazakhstan is seeking app-store restrictions on six unlicensed crypto platforms.
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