The Daily: Bitcoin ETFs draw nearly $1 billion in biggest inflow in 11 months, and more

The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.

Happy Tuesday! Yogita here, taking over from James with the latest from the crypto world.

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Crypto markets are holding firm, with bitcoin above $86,000 as U.S. spot bitcoin ETFs pulled in nearly $1 billion in their largest single-day inflow in 11 months.

Crypto firms are expanding their offerings, too. Coinbase launched fixed-rate bitcoin-backed loans through Morpho Midnight, while CME plans to add Bitcoin Cash and Uniswap futures.

Binance took a $100 million stake in Circle as part of a five-year USDC deal, while SoFi is bringing stablecoin settlement to Mastercard's network for a program expected to exceed $25 billion in annualized volume.

Elsewhere, solo GP Jed Breed raised $15 million for his second early-stage crypto fund.

P.S. Don't forget to check out The Funding, a biweekly rundown of crypto VC trends. It's a great read — and just like The Daily, it's free to subscribe!

Spot bitcoin ETFs post largest daily inflow in 11 months

U.S. spot bitcoin ETFs recorded $998.95 million in net inflows on Monday, their largest single-day inflow since Oct. 6, 2025.

• BlackRock's IBIT led with $381.4 million, followed by Ark & 21Shares' ARKB with $289.1 million and Fidelity's FBTC with $238.8 million.
• Spot ether ETFs also attracted $269.98 million, their largest daily inflow since Oct. 7, 2025.
• Bitcoin briefly climbed to around $87,300 on Monday, its highest level since January. Crypto liquidations reached $1.06 billion over 24 hours, including $844 million in short positions, according to CoinGlass.
• Analysts pointed to renewed ETF demand, short covering and bitcoin's breakout above key technical levels as factors behind the move.

Coinbase adds fixed-rate bitcoin-backed loans through Morpho

Coinbase has added fixed-rate bitcoin-backed loans through Morpho Midnight, allowing users to borrow USDC with the interest rate and repayment date set upfront.

• The new option sits alongside Coinbase's existing variable-rate loans through Morpho Blue, giving users a choice between fixed and variable rates.
• Coinbase currently offers fixed-rate loans due at the end of the current month or the following month, with borrowers required to repay before maturity.
• Interest rates are determined by supply and demand through an onchain order book, though Coinbase declined to disclose the rates currently offered.

SoFi begins stablecoin settlement on Mastercard network

SoFi has begun settling debit and credit card transactions using its SoFiUSD stablecoin on Mastercard's global payments network.

• The bank is migrating its entire card program, expected to process more than $25 billion in annualized volume, to blockchain-based settlement.
• SoFi said it is the first bank to go live with stablecoin settlement across Mastercard's network.
• Merchants do not need to hold SoFiUSD or change their existing payment systems. They can receive settlement funds in a SoFi Bank account and withdraw them as cash around the clock at no cost.
• SoFi said it is already discussing stablecoin settlement arrangements with large U.S. merchants and is exploring further uses with Mastercard, including cross-border payments and remittances.

CME to add Bitcoin Cash and Uniswap futures

CME Group plans to launch Bitcoin Cash and Uniswap futures on Oct. 19, pending regulatory review.

• The exchange will offer standard and Micro contracts for both assets, expanding its lineup of single-asset crypto derivatives.
• CME already offers futures on bitcoin, ether, XRP, Solana, Cardano, Chainlink, Stellar, Avalanche and Sui.
• CME said its crypto futures and options averaged 279,800 contracts in daily volume during the first half of 2026, representing $8.3 billion in notional value.
• Its other altcoin futures launched this year have generated more than $1 billion in notional value.

Solo GP Jed Breed raises $15 million for second crypto fund

Breed VC, led by solo general partner Jed Breed, raised $15 million for its second fund to invest in crypto startups at the "day zero," pre-seed and seed stages.

• Backers include FalconX, Hutt Capital and Arrington Capital, as well as Nic Carter, Rob Hadick and Jake Brukhman.
  The fund plans to invest $250,000 to $750,000 per startup, focusing on areas including open financial infrastructure and decentralized AI.
• Fund II has already invested in Silicon Data, 3Jane, M1X Global and USD.AI, and Breed expects to deploy the fund over the next three to four years.

In the next 24 hours

• U.S. flash manufacturing and services PMI data are due Wednesday, with Federal Reserve Governor Michael Barr also scheduled to speak.
• Euro Area flash composite, manufacturing and services PMI data are due Wednesday, with ECB officials Joachim Nagel, Boris Vujcic and Philip Lane also scheduled to speak.
• SOON, Meteora and Avail are among the crypto projects set for token unlocks on Wednesday.

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