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Ethereum passes $4,650 as spot ETFs continue strong streak of inflows

Meanwhile, BitMine Immersion Technologies now has more than 2% of the token’s supply.

10/6/25 9:53AM

Ethereum crossed $4,650 for the first time in over three weeks on Monday, rising 2.3% in the past 24 hours and roughly 11% in the last seven days.

After registering six consecutive months of positive inflows, spot ethereum ETFs continue to see strong trends. October has seen $621.4 million of ETF inflows to date, already more than doubling last month’s figure of $287.5 million.

In other news for ethereum:

BitMine Immersion Technologies now holds more than 2% of ethereum’s supply with over 2.8 million in the tokens worth over $13 billion. “We remain confident that the two Supercycle investing narratives remain AI and crypto,” BitMine Chairman Tom Lee said in a statement.
Crypto asset manager Grayscale announced its Grayscale Ethereum Trust ETF and Grayscale Ethereum Mini Trust ETF have enabled staking, allowing investors to earn a yield on their holdings.
Ethereum developers are gearing up for Fusaka, the next network upgrade, which is expected to come at the end of the year. Following ethereum’s last mainnet upgrade several months ago, Fusaka aims to improve the blockchain’s scalability and bring more on-chain economic activity into the network’s ecosystem, according to VanEck.

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Ripple launches treasury platform to manage cash and cryptocurrencies

Ripple, the firm closely tied to the fifth-largest cryptocurrency, XRP, introduced a new treasury platform for digital asset and traditional cash management for users like financial officers, treasurers, and accountants.

Ripple’s move comes more than three months after it acquired treasury software provider GTreasury for $1 billion, one of several steps to grow the firm’s position in corporate finance.

Combining Ripple’s blockchain rails and GTreasury’s software, the new platform’s goal is to simplify treasury operations. It eliminates settlement delays with payment times of three to five seconds and optimizes yield from working capital 24/7 through tokenized money market funds such as BlackRock’s BUIDL and overnight secure repo markets with RLUSD, according to a Tuesday blog post.

Ripple Treasury also aims to provide “real-time cash positions, automated forecasting, and seamless reporting across traditional cash, digital assets, RLUSD, and XRP holdings,” the blog post stated.

Last year, Ripple filed its national banking license application with the US Office of the Comptroller of the Currency, while the firm’s subsidiary Standard Custody & Trust Company applied for a Federal Reserve master account, which would allow Ripple to hold RLUSD reserves directly with the Fed.

XRP has seen $2.4 billion in trading volume in the last 24 hours, increasing 1.8% in the period. The token’s all-time high was set in July 2025 at $3.65. Meanwhile, spot XRP ETFs had nearly $9.2 million worth of inflows on Tuesday, bringing cumulative inflows to $1.4 billion.

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US-CRYPTOCURRENCY-CLIMATE-EMPLOYMENT-CHINA

$82B

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Crypto money laundering activity totaled more than $82 billion in 2025, more than 8x higher than 2020’s figure of $10 billion, according to a Tuesday report published by crypto analytics firm Chainalysis. Chinese-language networks dominated the ecosystem, accounting for roughly 20% of the illicit activity, or $16.1 billion, last year:

“Compared to other laundering endpoints, since 2020, inflows to identified CMLNs [Chinese-langugage money laundering networks] grew 7,325 times faster than those to centralized exchanges, 1,810 times faster than those to decentralized finance (DeFi), and 2,190 times faster than intra-illicit on-chain flows.”

Tom Keatinge, director at the Centre for Finance & Security at security think tank Royal United Services Institute, told Chainalysis that the rapid development of Chinese-language networks is an “an unforeseen consequence” of China’s imposition of capital controls.

“Wealthy individuals seeking to move money out of China and evade these controls provide the impetus and liquidity pool needed to service organized crime groups based in the West,” he noted.

Keatinge told Chainalysis, “The professional enablers of this capital flight provide the services necessary to match these two independent yet mutually beneficial needs.”

Chinese-language networks offer six primary money movement techniques to clean dirty money, which include recruiting individuals to rent out their financial identities, selling illicit cryptocurrency at a discounted rate, and obscuring fund origins through multiple transactions.

Overall, this Chinese ecosystem processed nearly $44 million per day last year.

Ethereum passes $4,650 as spot ETFs continue strong streak of inflows

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