SnapShot 227

Hello SnapShotters,

While the U.S. government entered its first shutdown since 2018, BTC wrote a record of its own, hitting a fresh all-time high of US$126,296. The rally pushed the total crypto market value past $4.29 trillion over the past weekend.

Strategy, the largest corporate holder of BTC, reported a $3.9 billion fair value gain on its massive 640,031 BTC treasury, now worth nearly $79.6 billion. Meanwhile, U.S. spot Bitcoin ETFs absorbed $3.2 billion in net inflows last week — their second-largest intake since inception.

ETH, too, aimed for past highs as it crossed $4,600, buoyed by Grayscale’s move to enable staking across its ETH ETFs. It is a first in the U.S. that’s making ETH exposure more yield-friendly for institutional portfolios. ETH ETFs also saw inflows worth $1.3 billion, reversing the previous week’s outflows.

In October’s second week, market momentum remains strong, even as the shutdown clouds near-term macro visibility and FOMC minutes nears.

Let’s turn our attention to the other major headlines in crypto.

Market Spotlight

Note: Market prices captured in USD at the time of sending. Explore more on Crypto‌.com/Price. 

Want more? Get weekly Market and DeFi Updates from Crypto.‌com’s Research Team.

News Snaps

💠 Grayscale Debuts Staking Spot ETPs

Grayscale launched the first U.S.-listed spot crypto ETPs with staking, adding Ether (ETHE, ETH) and Solana (GSOL) products that let investors earn staking rewards through traditional brokerage accounts. It expands regulated exposure to ETH’s and SOL’s on-chain yield mechanics.

📈 Report: Rising Global Wealth Could Power Crypto Demand Through 2100

A new report from the U.S. Federal Reserve Bank of Kansas City projects global asset demand to rise by 200% of GDP by 2100 as populations age and wealth grows. This trend could bolster long-term crypto adoption and see aging investors treating BTC like gold.

⚽ Tether Keen on Juventus Board Seats

Tether, now holding a 10.7% stake in Italian football club Juventus, plans to nominate its own board candidates and propose governance changes at the club’s next shareholder meeting. The stablecoin issuer also intends to join Juventus’ €110 million capital raise, deepening its influence as the team’s second-largest shareholder.

🇮🇳 India to Roll Out RBI-Backed Digital Currency

India’s Commerce Minister Piyush Goyal confirmed plans to launch a Reserve Bank of India-guaranteed digital currency, leveraging blockchain for faster, safer transactions. The initiative mirrors stablecoin frameworks like the U.S. GENIUS Act to boost transparency and prevent illicit transfers.

🏦 Morgan Stanley Officially Advises Crypto Allocation 

Morgan Stanley’s Global Investment Committee now recommends capping crypto exposure at up to 4% in clients’ most aggressive portfolios, citing its ‘speculative but increasingly popular’ nature. 

What’s Ahead

📅 October 28 to 29: FOMC Meeting
The U.S. Federal Reserve’s next policy meeting is scheduled for October 28 to 29. Markets will be watching closely for updated guidance on rate cuts, especially after the September 25-basis-point trim and the ongoing U.S. government shutdown, which has delayed key economic data releases.

Number of the Week

Source: CoinTelegraph

Chart of the Week

Stablecoin Market Cap Crosses $300 Billion for the First Time

Stablecoin market capitalization crossed a historic threshold last week, reaching $303 billion as of October 5, a 48% increase year-to-date. The milestone reflects growing institutional adoption and the cementing of regulatory frameworks such as the U.S. GENIUS Act, which has helped anchor market confidence in fiat-backed digital assets.

Beyond signaling revived liquidity across crypto markets, a deeper structural trend is emerging: stablecoins are becoming the settlement layer for the digital economy, beyond just a trading instrument.

As of October 5, 2025
Sources: DefiLlama, Crypto.com Research

Research & Insights

Report: Crypto Market Sizing (H1 2025)

Global crypto ownership climbed to 708 million in the first half of 2025, a 4% increase year-to-date, according to the latest Crypto.com Research report.

Bitcoin holders now comprise roughly 354 million (50%), while Ether holders rose to 160 million (23%), boosted by the growing influence of U.S. spot ETFs, which added between 0.3 to 1.3 million new investors.

The report also sheds light on U.S. policy shifts, the Strategic Bitcoin Reserve, and the growing tokenization of real-world assets (RWAs) on Ethereum. While Bitcoin’s overall share dipped slightly, Ethereum’s user base expanded, indicating a market tilt toward on-chain activity and yield-bearing assets.

As institutions pour into RWAs and retail investors enter through ETFs, which network will capture the next wave of global adoption?

📘 Read the full report for detailed data and regional insights.

Crypto Trivia

Which famous artwork was purchased and then physically incinerated to promote its NFT version?

A) Banksy’s Morons (White)

B) Andy Warhol’s Campbell’s Soup Cans

C) Beeple’s Crossroads

Find the correct answer at the end of this newsletter. 👇

NFT Spotlight

Barcelona-based surrealist artist Sergi Tugas returns with the ‘Puppetz - Peasants 2.0 Collection’, the latest drop in his Puppetz series on Cronos Chain.

Featuring 2,000 hand-drawn NFTs, this collection continues Tugas’s exploration of class, control, and identity. From the ‘precarious’ to the ‘elite’, each Puppet is an expressive snapshot of society and serves as a membership pass to an exclusive Web3 club.

Collectors stand to win limited-edition NFTs via airdrops and minting opportunities.

Join the fast-growing Puppetz club and shop the drop today.

Product Updates

NEW: Introducing IPO Early Bird

Crypto.com’s new IPO Early Bird feature lets users lock in IPO limit orders up to three weeks before trades begin. Get the earliest access to anticipated listings like Anduril, Stripe, and Discord, right from the app. Stay informed with real-time pricing updates and statuses in Settings > Notifications > IPO Early Bird. Allocations aren’t guaranteed, but IPO Early Bird positions you for the next big launch*. Try it today.

330+ New Limit Order Tokens Now Available

DoubleZero (2Z) is among the latest additions to Crypto.com’s expanding selection of tokens available for limit orders in the Crypto.com App. Automate trades at your preferred price, without having to monitor the market. Try it now.

The Loaded Lions: Mane City Nightmare Blitz Is Coming Soon!

Gear up for the next Blitz of the Loaded Lions: Mane City competitive season III, featuring the Nightmare Blitz. Stand to win from a starting prize pool of $35,000 worth of CRO and NFTs. In addition, 100% of diamond spend will be added to all prize pools, with 70% allocated to this Blitz. The Nightmare Blitz takes place from October 10, 2025, 13:00 UTC to October 31, 2025, 13:00 UTC. Start playing Mane City now. Terms & Conditions Apply.

This is informational content only and should not be considered as an investment recommendation. Some Crypto.com products may not be available in some jurisdictions.

Crypto Learn

Ethereum’s Next Evolution Is Here

Ethereum’s Fusaka upgrade marks the network’s next major step toward greater scalability, security, and efficiency. Building on earlier upgrades like Shanghai and Dencun, Fusaka continues Ethereum’s roadmap to make decentralized applications faster, cheaper, and more reliable.

Key Upgrades:

• PeerDAS (EIP-7594): Allows validators to verify small data samples instead of full blobs to reduce bandwidth, lower storage needs, and cut Layer-2 costs.
• Higher Gas Limits: Expands block capacity from 45 million to a targeted 150 million gas, enabling faster transactions and lower fees during congestion.
• Smarter Blobs: Introduces predictable blob pricing (EIP-7918) and flexible scaling (EIP-7892), allowing for more consistent fees and smoother updates without the need for full network upgrades.

Fusaka is designed to bring Ethereum one step closer to becoming a truly scalable, developer-friendly, and globally accessible blockchain.

Learn more in this University article.

CryptoIRL

Pizza pocket. Ice-cold beer. Courtesy of @Cryptorockstar4’s card that’s both pocket-sized and Icy.

Hashtag #CryptoIRL with your Crypto.‌com Card on your social profiles to get featured! Your 15 minutes of fame in the #CROFam awaits you!

Security Tips

Indian Businessman Loses US$120,000 in Crypto Investment Scam

An Indian entrepreneur fell victim to a crypto investment scam after being promised high returns through a fraudulent trading platform. 

Introduced through a friend, the victim ignored warnings that the accused lacked proper licenses and proceeded with the investment. The scammer first built trust by successfully completing the 111,871 USDT transfer initiated by the victim, prompting the victim to invest more and refer additional clients. However, the subsequent funds were never credited to his or his clients’ wallets.

How to protect your funds:

1. Avoid unlicensed operators, no matter how credible they may seem.
2. Invest responsibly. Never risk more than you can afford to lose.
3. Use regulated and verified platforms for all crypto transactions.

Crypto Trivia Answer

A) Banksy’s Morons (White) ✅

In 2021, a crypto collective burned the original ‘Morons (White)’ during a livestream, after buying it for about $95,000. They minted and sold the NFT of the burned artwork for over $380,000. Banksy wasn’t involved.

That's it for this week's SnapShot. Want more? Find out what’s trending in the crypto world.