Litecoin, HBAR and more crypto ETFs ‘at the goal line’ as shutdown sits in the backdrop, analysts say

The crypto market is catching fire again. BNB has surged past $1,200, driven by renewed on-chain demand and institutional interest, while XRP continues to dominate headlines with whispers of potential ETF listings and expanded use in global remittances. Investors scanning for the top crypto to invest in this Uptober are once again asking the million-dollar

PANews reported on October 8th that, according to Blockworks, the Solana Decentralized Physical Infrastructure Network (DePIN) project, Grass, is raising $10 million in a bridge financing round. This follows the project's previous seed and Series A funding rounds. Andrej Radonjic of Grass revealed to Blockworks that Polychain and Tribe Capital participated in this bridge round, which primarily involved token purchases. The Grass team is reportedly looking to prepare for the transition from training computation cycles to inference, with the ultimate goal of achieving "internet-scale web crawler" operations, which will enable them to build real-time contextual retrieval capabilities.

PANews reported on October 8th that, according to data from Bloomberg analysts Eric Balchunas and James Seyffart, BlackRock's Bitcoin ETF is poised to surpass $100 billion in assets, driven by massive inflows and rising Bitcoin prices. Its revenue exceeds that of any of BlackRock's over 1,000 global funds. The fund, charging a 0.25% fee and generating over $240 million in annual revenue, has achieved remarkable results in less than two years. It reached the $100 billion milestone roughly five times faster than other ETFs, drawing capital from both retail and institutional investors. It is the "youngest by far" of the 20 largest ETFs, with the others taking years to reach this size. IBIT has become BlackRock's most profitable product, an impressive feat. Bloomberg analysts stated that they had optimistic expectations for demand and inflows, but the actual figures still exceeded even the most optimistic projections.