Nasdaq-Listed Company Chijet Motor Completes Approximately $300 Million Cryptocurrency Private Placement

On October 28th, the managing partner of Multicoin Capital, Kyle Samani, deleted a previous tweet regarding the "Bitwise SOL Staking ETF to be listed on October 28th." The reason for this deletion remains unclear at present.

On October 28th, Kyle Samani, the managing partner of Multicoin Capital, announced on social media that the SOL spot ETF with staking services, namely the Bitwise SOL Staking ETF, will become operational on Tuesday, October 28th (Tuesday night after the U.S. stock market opens in Beijing time). BlockBeats Note: There are certain distinctions in terms of compliance and asset composition between the Bitwise SOL Staking ETF (BSOL) and the previously listed REX-Osprey SOL Spot ETF (SSK). These differences mainly arise from their filing procedures, regulatory disclosures, and operational structures. REX-Osprey SOL mainly directly stakes SOL (the majority of assets), with 40% staked indirectly through other ETPs and a small portion held in liquid staking tokens. In contrast, the Bitwise SOL Staking ETF (BSOL) will directly stake SOL from the custody wallet, accumulate rewards on a daily basis, and increase the per-unit SOL holding amount. The asset composition is 100% spot SOL.

On October 27th. According to Bloomberg, Citigroup has declared a partnership with Coinbase Global Inc. The two parties are set to jointly enhance digital asset payment capabilities and offer services to the bank's corporate clients. This collaborative effort represents the latest instance of a Wall Street giant venturing into the blockchain field for innovation in the face of years of regulatory warnings regarding the risks of digital assets. In the initial stages of the partnership, the emphasis will be on investigating ways to simplify Citigroup's institutional clients' fund conversion processes, such as converting cryptocurrency into fiat currency and the reverse operation of using fiat to purchase cryptocurrency. This will also cover cross-border scenarios.

On October 27th, analysts from the research firm Wrightson forecasted that the Federal Reserve might be prepared to announce the conclusion of balance sheet reduction this week. The recent overnight repo market trends have indicated that financing conditions have become tighter and bank reserves have dropped to levels that are close to what is regarded as equilibrium. The Wrightson team stated that any action carried out by the Federal Reserve this week would be a cautious one in order to avoid exerting excessive pressure on the money markets. They pointed out, "Even if the Fed thinks that the supply of reserves remains quite sufficient, we have doubts whether the FOMC will ignore the repeated warning signals in recent weeks in the federal funds rate." (FX Street)

October 27th: In Hong Kong, the first Solana spot ETF, the Huaxia Solana ETF, was officially listed on the HKEX. It became the third type of cryptocurrency spot ETF approved by the Hong Kong Securities and Futures Commission, following Bitcoin and Ethereum. According to SoSoValue data, on the first day of trading, the trading volume was 11.39 million Hong Kong dollars, and the total asset net value was 21.29 million Hong Kong dollars, equivalent to approximately 13,461 SOL. There was a Hong Kong dollar over-the-counter closing discount of -0.60%, indicating stronger selling pressure. From the perspective of first-day trading volume, it was about half of the trading volume of the Hong Kong Ethereum spot ETF listed on April 30, 2024 (when three products were listed simultaneously). The Huaxia Solana ETF is issued by Huaxia Fund (Hong Kong) and was approved by the Hong Kong Securities and Futures Commission on October 22nd. Its features include: supporting cash or in-kind creation and r