On November 3, the Chief Executive Officer of the Hong Kong Securities and Futures Commission (SFC), Ms. Leung Fung Yee, said at the Hong Kong Technology Week 2025 that the SFC’s new approach would allow licensed virtual asset trading platforms to connect to offshore liquidity through overseas affiliated platforms, while at the same time putting in place a number of safeguards to minimize settlement and integrity risks. For example, requiring overseas virtual asset trading platforms to implement cash-in-hand and pre-payment arrangements, setting up a reserve fund in Hong Kong for compensation purposes, and implementing a joint monitoring scheme to ensure that a proper balance is struck between convenience and protection.

According to data from The Block, stablecoin trading volume on ETH reached an all-time high of $2.82 trillion in October 2025, up 45% YoY.Circle’s USDC led the way with $1.62 trillion, followed by USDT with $895.5 billion, while MakerDAO’s DAI came in third with $13.6 billion.

Analysts noted that during the crypto market pullback (Bitcoin fell 11.5% month-over-month and ETH fell 16.4% month-over-month), traders actively sought out revenue opportunities and managed liquidity in preparation for buying assets with declining prices. Stablecoin issuers have thus become a major source of revenue in crypto protocols, accounting for 65-70% of total daily revenue.

The U.S. Securities and Exchange Commission (SEC) has until Nov. 12 to approve or reject the Grayscale HBAR Spot ETF with no further extensions. If approved, the ETF will be the first HBAR spot ETF in the U.S., giving investors access to the Hedera network’s native token, HBAR, through this regulated channel.

Nate Geraci, president of The ETF Store, said in a post on the X platform, “The first spot XRP ETFs are expected to launch in the next two weeks. For the past five years, the U.S. Securities and Exchange Commission (SEC) has been filing a lawsuit against Ripple, which was pending until three months ago. In my opinion (IMO), the launch of a spot XRP ETF is the “final death knell” for regulators who have previously taken an anti-cryptocurrency stance. (The cryptocurrency industry) has come a long way.”

The Panic & Greed Index rose to 42 today, with the rating remaining at Panic. Note: The Panic Index has a threshold of 0-100 and includes the following metrics: volatility (25%) + market volume (25%) + social media buzz (15%) + market research (15%) + bitcoin’s share of the overall market (10%) + Google buzzword analysis (10%).

Bitcoin has entered the biggest month of gains in its history: since 2013, November has averaged a whopping 42.51 percent, according to Cointelegraph. However, 10xResearch analyst Markus Thielen said that “seasonal charts are very important, but must be analyzed in the context of many other factors”. Looking ahead, the market expects further interest rate cuts from the Federal Reserve and the U.S. and China are working on a trade deal; both developments could be favorable for Bitcoin. However, the government shutdown and U.S. tariff policies continue to fuel economic uncertainty.

President Donald Trump has said that his only concern is whether the U.S. can be ranked No. 1 in cryptocurrency.

According to Token Unlocks data, several tokens will see large unlocking events this week. Among them:

Ethena (ENA) will unlock about 172 million tokens at 3 p.m. GMT on Nov. 5, representing a ratio of 2.52 percent of the current circulating volume and a value of about $67.1 million;

Memecoin (MEME) will unlock approximately 3.45 billion tokens at 3:30 p.m. GMT on Nov. 3, with a ratio of 5.98 percent to current circulating volume and a value of approximately $5.4 million;

Movement (MOVE) will unlock 50 million tokens at 20:00 p.m. GMT on the evening of Nov. 9, with a ratio of 1.82 percent of current circulation and a value of about $3.43 million;

BounceBit (BB) will unlock approximately 29.93 million tokens at 8:00 a.m. GMT on Nov. 9, with a ratio of 3.85% to current circulation and a value of approximately $3.3 million.

According to market news: BlackRock, which has $13 trillion in assets under management, announced that it will launch a bitcoin ETF in Australia.

Grayscale Investments has listed Shiba Inu as one of the cryptocurrencies eligible for listing on U.S. spot exchange-traded funds (ETFs).

Grayscale Investments mentioned the news in a recent blog post titled Market Byte: Here Comethe Altcoins. Following the launch of the Bitcoin and ETH ETFs, Grayscale Investments acknowledged that the process of launching similar ETF products for altcoins such as faggots has now been streamlined.

The report reveals that the launch of the first Bitcoin spot exchange-traded product (ETP) took more than a decade-from 2013, when it was first proposed, to January 2024, when it was finally approved. However, the SEC-approved Generic Listing Standards (GLS) framework has now accelerated the launch of cryptocurrency exchange-traded products (ETPs).