Default
Door Remote - 02 Oct 2026
Today in crypto, Blast announced it is shutting down its Ethereum layer-2 network after operating costs outpaced revenue, US spot Bitcoin ETFs started October with $102.7 million in net inflows and the SEC proposed easing crypto custody requirements for investment advisers and funds.
Blast shuts down Ethereum L2 as operating costs exceed revenueBlast is shutting down its Ethereum layer-2 network after concluding that the chain costs more to operate than it generates in revenue.
The network said there is no “credible path” to becoming economically sustainable and urged users to move their assets to Ethereum mainnet. Blast will shorten its withdrawal delay to 24 hours, although withdrawals will be temporarily paused while it unwinds assets held through Lido, a process expected to take about a week.
Users have until Oct. 26 to withdraw through Blast’s interface. Assets will remain accessible after the deadline, but users will need to interact directly with the network’s bridge contracts on Ethereum.
Blur founder Tieshun “Pacman” Roquerre launched Blast in 2023, offering native yield on Ether and stablecoins alongside incentives tied to an anticipated token airdrop. The strategy attracted more than $2 billion before its mainnet launch in February 2024.
The early momentum faded alongside the NFT market. Blast’s DeFi total value locked has fallen more than 98% from its roughly $2.2 billion peak in June 2024.
Bitcoin ETFs kick off “Uptober” with $103 million inflowUS spot Bitcoin exchange-traded funds (ETFs) flipped back to net inflows on the first trading day of October after their strongest quarter of 2026.
Bitcoin ETFs attracted $102.7 million in net inflows on Thursday, following Wednesday’s $148.7 million in net outflows, according to SoSoValue data. Their combined net assets rose to $109.3 billion, while cumulative net inflows reached $57.6 billion.
The positive start to the month followed $6.34 billion in third-quarter net inflows, including $2.65 billion in September. Bitcoin rose 42.7% over the quarter.
Bitcoin traded at about $85,900 at the time of publication, up 2.1% over the past 24 hours, according to CoinGecko. Alternative.me’s Crypto Fear & Greed Index slipped to 72 from 74 a day earlier, remaining in “Greed” territory.
SEC moves to clear custody hurdle for advisers offering crypto The US securities regulator has proposed easing rules governing how investment advisers and funds hold crypto, potentially clearing a regulatory hurdle that has held some businesses back from offering clients digital asset investments.
The proposal, published on Thursday, would let investment advisers hold clients’ crypto assets themselves when no eligible crypto custodian is available, with conditions. It would also allow state trust companies to serve as crypto custodians.
“The crypto asset market has grown from a niche curiosity into a multi-trillion-dollar asset class to which investors actively seek exposure. Unfortunately, our rules and regulations have not kept pace,” US Securities and Exchange Commission Chair Paul Atkins said in a statement.
The proposal targets a practical barrier to crypto investment: investment advisers can struggle to find a qualified custodian for a particular token, limiting the investments they can offer clients.
The Digital Chamber has previously raised concerns about the lack of qualified crypto custodians. In a May 2025 submission to the SEC, the Digital Chamber said some advisers had declined token allocations or asked portfolio companies to retain them until custody became available.
Blast shuts down Ethereum L2 as operating costs exceed revenueBlast is shutting down its Ethereum layer-2 network after concluding that the chain costs more to operate than it generates in revenue.
The network said there is no “credible path” to becoming economically sustainable and urged users to move their assets to Ethereum mainnet. Blast will shorten its withdrawal delay to 24 hours, although withdrawals will be temporarily paused while it unwinds assets held through Lido, a process expected to take about a week.
Users have until Oct. 26 to withdraw through Blast’s interface. Assets will remain accessible after the deadline, but users will need to interact directly with the network’s bridge contracts on Ethereum.
Blur founder Tieshun “Pacman” Roquerre launched Blast in 2023, offering native yield on Ether and stablecoins alongside incentives tied to an anticipated token airdrop. The strategy attracted more than $2 billion before its mainnet launch in February 2024.
The early momentum faded alongside the NFT market. Blast’s DeFi total value locked has fallen more than 98% from its roughly $2.2 billion peak in June 2024.
Bitcoin ETFs kick off “Uptober” with $103 million inflowUS spot Bitcoin exchange-traded funds (ETFs) flipped back to net inflows on the first trading day of October after their strongest quarter of 2026.
Bitcoin ETFs attracted $102.7 million in net inflows on Thursday, following Wednesday’s $148.7 million in net outflows, according to SoSoValue data. Their combined net assets rose to $109.3 billion, while cumulative net inflows reached $57.6 billion.
The positive start to the month followed $6.34 billion in third-quarter net inflows, including $2.65 billion in September. Bitcoin rose 42.7% over the quarter.
Bitcoin traded at about $85,900 at the time of publication, up 2.1% over the past 24 hours, according to CoinGecko. Alternative.me’s Crypto Fear & Greed Index slipped to 72 from 74 a day earlier, remaining in “Greed” territory.
SEC moves to clear custody hurdle for advisers offering crypto The US securities regulator has proposed easing rules governing how investment advisers and funds hold crypto, potentially clearing a regulatory hurdle that has held some businesses back from offering clients digital asset investments.
The proposal, published on Thursday, would let investment advisers hold clients’ crypto assets themselves when no eligible crypto custodian is available, with conditions. It would also allow state trust companies to serve as crypto custodians.
“The crypto asset market has grown from a niche curiosity into a multi-trillion-dollar asset class to which investors actively seek exposure. Unfortunately, our rules and regulations have not kept pace,” US Securities and Exchange Commission Chair Paul Atkins said in a statement.
The proposal targets a practical barrier to crypto investment: investment advisers can struggle to find a qualified custodian for a particular token, limiting the investments they can offer clients.
The Digital Chamber has previously raised concerns about the lack of qualified crypto custodians. In a May 2025 submission to the SEC, the Digital Chamber said some advisers had declined token allocations or asked portfolio companies to retain them until custody became available.