Global cryptocurrency ETFs took in a record $5.95 billion in the week ending Oct. 4, with U.S.-listed products accounting for the bulk of flows. The surge coincided with Bitcoin setting a fresh all-time high above $126,000 earlier in the week, underscoring strong institutional demand for regulated exposure. CoinShares noted the U.S. led with roughly $5 billion in inflows, followed by Switzerland and Germany at new records of their own. By asset, bitcoin captured the largest share at $3.55 billion, while ether drew $1.48 billion and solana and XRP also posted sizable gains. The flows reflect investors’ continued use of ETFs as the preferred wrapper for digital-asset exposure amid macro uncertainty.

JPMorgan: Stablecoins could add $1.4T to dollar demand by 2027

JPMorgan research estimated that widespread adoption of fiat-backed stablecoins could generate as much as $1.4 trillion in incremental demand for U.S. dollars by 2027. The bank argued that stablecoins increasingly power payments, trading and on-chain finance, creating structural new demand for dollar-linked instruments held as reserves. The note comes as stablecoins have grown into a $300+ billion market led by Tether, with policymakers globally weighing dedicated rules. JPMorgan’s analysis frames stablecoins as a potential tailwind for dollar usage rather than a threat to monetary sovereignty. The forecast will likely feed into ongoing debates over reserve composition, oversight and the role of banks in issuance.

SoftBank’s PayPay backs Binance Japan to expand crypto services

SoftBank-owned PayPay invested in Binance Japan, aligning one of the country’s largest payments ecosystems with a major crypto exchange to accelerate user acquisition and product development. The tie-up aims to broaden crypto access for Japanese consumers within a regulated framework, leveraging PayPay’s scale and Binance Japan’s trading infrastructure. The move highlights renewed corporate interest in digital-asset platforms amid rising retail and institutional engagement. It also underscores Japan’s evolving regulatory clarity, which has encouraged mainstream financial and tech firms to participate. Terms were not disclosed, but both parties signaled plans to deepen integration over time.

Cornerstone League and Metallicus Partner to Bring Stablecoin Innovation to Credit Unions

Metallicus, the core developer of Metal Blockchain, announced a partnership with Cornerstone League, one of the largest regional credit union associations in the U.S., to give member institutions access to the Metallicus Stablecoin Pilot. The program provides a secure sandbox where credit unions can test and issue custom-branded stablecoins using simulated reserves, without handling real funds. Cornerstone, representing over 600 credit unions, said the partnership helps members safely explore blockchain use cases in a regulatory-aligned environment. The Stablecoin Pilot is part of Metallicus’s Banking Innovation Program, which offers blockchain tools for fraud prevention, digital identity, and compliant digital-asset services.

Bitcoin ETF Flows

Monday opened strong with about $1.21B of net inflows, led by BlackRock’s IBIT (~$970M) alongside Fidelity’s FBTC (~$112M) and Bitwise’s BITB (~$60M). On Tuesday, momentum continued with roughly $876M of net inflows as IBIT added ~$899M while Grayscale’s GBTC saw a modest ~$29M outflow. Midweek, Wednesday eased to about $441M, driven again by IBIT (~$426M) with little movement from peers, and Thursday was the weakest day at roughly $198M as IBIT’s ~$256M was partly offset by outflows from GBTC (~$46M) and smaller negatives at FBTC and ARKB. Overall, U.S. spot BTC ETFs posted a robust, four-day net intake of roughly $2.72B for the week, with IBIT clearly dominating flow leadership.

Ethereum ETF Flows

Monday saw about $182M of net inflows, paced by BlackRock’s ETHA (~$92.6M) with support from Fidelity and Bitwise. Tuesday accelerated sharply to roughly $421M as ETHA pulled in ~$437M, partly offset by outflows from Fidelity’s FETH (~$25.7M). The midweek peak was followed by a softer Wednesday near $69M, weighed by a ~$16.7M outflow at Grayscale’s ETHE, and Thursday flipped to a small net outflow of about $8.7M as several issuers posted minor redemptions. In aggregate, U.S. spot ETH ETFs remained net positive across the week, with strength early on tapering into late-week choppiness.

Top Gainers (Coins Available on Metal Pay)

Litecoin led the board this week, up 8.2% over seven days, bucking broader weakness across large-caps. Bitcoin slipped 1.5% after hitting fresh highs earlier in the week, while Hedera (HBAR), Dogecoin and Metal Blockchain held their ground compared to other assets amid a risk-off drift and a firmer U.S. dollar cited in market commentary. Headlines around record ETF inflows early in the week were not enough to keep momentum into Thursday’s pullback, leaving LTC as the standout relative winner.

Find all of these digital assets and many more on the Metal Pay app, get it here.