Bitcoin News Today: Institutional Adoption Fuels Ethereum's ETF Surge Over Bitcoin

In the past 12 hours, crypto liquidations totaled $376 million, driven largely by long positions, as the market navigated a mix of bullish ETF inflows, institutional Bitcoin adoption, and regulatory developments. Ethereum ETFs outperformed Bitcoin counterparts, while traditional firms like Hyperscale Data and Western Union expanded their crypto footprints, signaling growing mainstream acceptance.

According to a Coinpedia report, Ethereum-focused exchange-traded funds (ETFs) recorded a net inflow of $246.02 million on October 28, surpassing Bitcoin's $202.48 million. Fidelity's FETH led Ethereum's gains with $99.27 million, while BlackRock's ETHA and Grayscale's ETH added $76.37 million and $73.03 million, respectively. Bitcoin ETFs, including Ark & 21Shares ARKB and BlackRock IBIT, also saw inflows but lagged behind Ethereum. The total Ethereum market cap now stands at $484.8 billion, with Bitcoin's at $2.24 trillion.

An Investing.com report noted that Hyperscale Data, Inc. (GPUS) saw its stock jump 26% after announcing its Bitcoin treasury had reached $68.8 million, or 50% of its market capitalization. The company, which plans to accumulate Bitcoin equal to 100% of its market cap, purchased an additional $4.6 million of Bitcoin in the past week. Sentinum, its subsidiary, now holds 194.5513 Bitcoin, valued at $22.3 million, with 40.54 Bitcoin acquired recently. The firm's disciplined dollar-cost averaging strategy aims to mitigate short-term volatility while building a long-term Bitcoin reserve.

Bitget Wallet's integration of HyperEVM, a smart-contract layer for Hyperliquid's Layer-1 blockchain, connected millions of users to a $5 billion onchain ecosystem, according to a GlobeNewswire release. The update enables cross-chain transfers, DeFi applications, and $HYPE token utilities within the wallet. Hyperliquid's total value locked (TVL) has surged, reflecting growing institutional-grade trading infrastructure adoption. This move aligns with broader trends of DeFi platforms enhancing liquidity and accessibility for retail users.

The Federal Reserve's upcoming interest rate decision on October 30 and November 5, alongside inflation data, will likely influence market sentiment, as shown by the Investing.com economic calendar. Fed Chair Jerome Powell's recent caution about rate cuts has heightened volatility, with traders monitoring manufacturing and retail sales data for inflation clues. Meanwhile, the U.S. Centers for Medicare & Medicaid Services finalized coverage for Medtronic's renal denervation system, a development unrelated to crypto but highlighting broader regulatory updates.

A GlobeNewswire report said Blazpay's audited 2025 crypto presale raised $925.7K in Phase 2, with 82.4% of tokens sold at $0.0075 each. A third-party audit bolstered confidence, verifying smart contract integrity and fund security. With less than five days before the next price jump to $0.009375, early investors are rushing to secure allocations. The project's gamified rewards system and AI-driven perpetual trading engine have attracted both retail and institutional buyers.

Western Union's partnership with Solana to launch stablecoins for cross-border payments underscores crypto's integration into traditional finance, according to a TradingView report. The move follows the GENIUS Act's regulatory clarity, which has spurred stablecoin adoption. Meanwhile, San Diego's Paleo Treats bakery, which has accepted Bitcoin since 2017, now offers crypto payments via Edge, a local wallet provider, ahead of Halloween, per Yahoo Finance. These examples highlight crypto's growing role in everyday transactions.