Top Crypto News This Week: BlackRock's ETH ETF Push, MegaETH ICO Frenzy, Trump-Xi Trade Talks, and More

This week’s crypto news is packed with pivotal developments shaping market sentiment, from BlackRock’s Ethereum ETF advancements to the MegaETH ICO buzz and high-stakes US-China diplomacy.

BlackRock’s Ethereum Staking ETF Deadline Looms

BlackRock has set October 30 as the deadline for its Ethereum staking ETF application, a move that could unlock institutional access to ETH yields. The SEC’s shift to a broader review process raises approval odds, with ETH trading at $4,202—up 6% in 24 hours. This follows $141.6 million in ETF inflows, signaling 67% institutional optimism per Coinbase reports. Analysts see it as a bullish catalyst for Ethereum’s $463 billion market cap.

MegaETH ICO Oversubscribes 8x, Raising $412M

MegaETH, an Ethereum L2 for real-time scalability, raised $412 million in its ICO on Sonar, 8.2x oversubscribed with 15,000 addresses participating. The $999 million FDV auction allocated 5% of 10 billion $MEGA tokens, with retail dominating at 92% of buyers. This success, backed by $87 million in prior funding from Dragonfly and Vitalik Buterin, positions MegaETH to challenge Solana’s speed, targeting 100,000 TPS for DeFi and gaming.

Trump-Xi Summit and US-China Trade Talks

The anticipated Trump-Xi summit in South Korea could ease trade tensions, with a preliminary framework addressing tariffs and rare earths. Negotiators Bessent and Greer reported progress, potentially averting escalation. Markets priced in 97% odds for a Fed rate cut, boosting risk assets like BTC to $108,500. A positive outcome might propel BTC to $115,000-$130,000 by month-end.

Other Highlights: Solana ETF Launch and Token Unlocks

Hong Kong launches its first Solana ETF on October 27, following Vultisig’s token debut and MegaETH ICO. Token unlocks for Grass, Monad airdrop announcements, and Ethena/Blum events could drive $1 billion+ in volatility. Arbitrum DAO’s vote concludes October 30, allocating 8,500 ETH to DeFi projects.

For investors, how to buy Bitcoin via compliant platforms ensures entry. How to sell Bitcoin and how to cash out Bitcoin offer liquidity. Sell Bitcoin for cash and convert Bitcoin to cash enable fiat conversions.

In summary, this week’s crypto news blends ETF catalysts, ICO successes, and diplomatic hopes, forecasting a volatile yet upward trajectory for 2025’s DeFi evolution.

ETH-3.66%
SOL-2.82%
BTC-1.27%
GRASS-11.32%
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