Bitcoin News Update: Institutional Interest Drives Ethereum ETF Growth Surpassing Bitcoin

Over the last 12 hours, the crypto market experienced $376 million in liquidations, primarily from long positions, as investors responded to a blend of positive ETF inflows, greater institutional

adoption, and evolving regulatory news. ETFs outshined their Bitcoin equivalents, and established companies such as and Western Union broadened their involvement in crypto, reflecting its increasing acceptance in mainstream finance.

As reported by

, Ethereum-based ETFs attracted $246.02 million in net inflows on October 28, overtaking Bitcoin’s $202.48 million. Fidelity’s FETH led Ethereum’s performance with $99.27 million, while BlackRock’s and Grayscale’s ETH brought in $76.37 million and $73.03 million, respectively. Bitcoin ETFs, such as Ark & 21Shares ARKB and IBIT, also saw positive inflows but trailed behind Ethereum. Ethereum’s total market capitalization has now reached $484.8 billion, compared to Bitcoin’s $2.24 trillion.

According to an

, Hyperscale Data, Inc. (GPUS) shares surged by 26% after the company revealed its Bitcoin holdings had grown to $68.8 million, representing half of its market value. The firm aims to match its market cap with Bitcoin reserves and recently acquired an additional $4.6 million in Bitcoin. Its subsidiary, Sentinum, now possesses 194.5513 Bitcoin, valued at $22.3 million, with 40.54 Bitcoin added lately. The company’s steady dollar-cost averaging approach is designed to reduce short-term market swings while building a substantial Bitcoin reserve for the future.

Bitget Wallet has incorporated HyperEVM, a smart contract layer for Hyperliquid’s Layer-1 blockchain, connecting millions to a $5 billion on-chain ecosystem, according to a

. This update supports cross-chain transactions, DeFi features, and $HYPE token use within the wallet. Hyperliquid’s total value locked (TVL) has climbed, showing increased adoption of institutional-grade trading infrastructure. This development is part of a larger movement where DeFi platforms are boosting liquidity and accessibility for everyday users.

The Federal Reserve’s upcoming interest rate announcements on October 30 and November 5, along with inflation figures, are expected to shape market outlook, as highlighted by the

. Fed Chair Jerome Powell’s recent warnings about delaying rate cuts have added to market volatility, with investors closely watching manufacturing and retail sales numbers for inflation signals. Meanwhile, the U.S. Centers for Medicare & Medicaid Services finalized coverage for Medtronic’s renal denervation system, a regulatory update outside the crypto space but indicative of broader policy changes.

Western Union’s collaboration with

to introduce stablecoins for international payments highlights crypto’s growing role in traditional finance, according to a . This initiative follows the GENIUS Act, which has provided regulatory clarity and encouraged stablecoin use. Meanwhile, San Diego’s Paleo Treats bakery, which has accepted Bitcoin since 2017, now supports crypto payments through Edge, a local wallet provider, just in time for Halloween, as reported by . These cases illustrate the expanding presence of crypto in daily commerce.