Kalshi has prepared to seek U.S. regulatory approval for approximately 60 perpetual futures linked to stocks and exchange-traded funds, including Tesla, Apple and Nvidia.

The Wall Street Journal reported on Sept. 10 that the prediction-market operator wants to offer the products around the clock. Approval would give U.S. traders access to regulated single-stock perpetual futures without using offshore crypto exchanges.

Kalshi has not published its proposed product list, leverage limits, margin requirements or launch timetable. No related filing was publicly identified in the report, leaving the plan subject to a formal regulatory submission and review.

The proposal enters a dispute involving the Commodity Futures Trading Commission, Securities and Exchange Commission, CME Group and Citadel Securities. Each disagreement concerns how perpetual contracts should be classified and which regulator should oversee products linked to U.S. securities.

Kalshi would bring 24/7 perps to U.S. stocks

Perpetual futures let traders take long or short positions without a fixed expiration date. Traditional futures expire on scheduled dates, requiring traders to close or transfer their positions into later contracts.

Perps use recurring payments between long and short traders to keep contract prices near their reference assets. When a perpetual contract trades above the reference price, long traders commonly pay short traders. The payment direction can reverse when the perp trades below its reference.

Leverage allows users to control positions larger than their posted collateral. Gains can increase when the market moves in the trader’s favor, while adverse movements can trigger forced liquidation.

Kalshi’s proposed products would track stocks including Tesla, Apple and Nvidia, according to the Journal. ETFs would form part of the planned group, though the report did not identify specific funds.

Around-the-clock trading would let a Tesla perp continue moving after Nasdaq closes and during weekends. The stock itself generally trades during established exchange sessions, with limited activity available through extended-hours systems.

No company has endorsed a Kalshi contract linked to its shares. A derivative tracking Tesla or Nvidia would not represent ownership in either company, provide voting rights or entitle holders to dividends.

Kalshi would need to establish a reference price, funding mechanism and procedures for corporate actions. Stock splits, dividends, mergers and trading suspensions can change the price or structure of an underlying security.

The company has not said how its contracts would process such events or how prices would be calculated while the primary stock market is closed.

CFTC approval covered Bitcoin, not individual stocks

The CFTC approved Kalshi’s BTCPERP contract on May 29 after the company submitted it for review one day earlier. The contract gave eligible U.S. traders regulated access to leveraged Bitcoin exposure without an expiration date.

As crypto.news previously reported, Kalshi launched its Bitcoin perpetual contract following CFTC approval. The authorization applied to the submitted Bitcoin product and did not grant automatic approval for perps tied to other asset classes.

The regulator said perpetual futures linked to different types of assets may require individual assessment. Kalshi’s stock products would therefore need separate review because their reference assets fall within securities markets overseen by the SEC.

Kalshi later extended its perpetual-futures business to gold and silver. The company has pursued another contract tracking West Texas Intermediate crude oil, though regulatory authorization for a commodity product does not resolve the treatment of single-stock perps.

The distinction has produced a jurisdictional question. Futures generally fall under CFTC authority, while stocks and securities-based products sit within the SEC’s mandate. Some products can involve both agencies depending on their legal structure.

Single-stock futures have previously operated under a joint SEC-CFTC framework. Kalshi’s planned contracts would differ by carrying no expiration date and using funding payments to maintain their relationship with the underlying shares.

The CFTC has not announced approval of the planned equity products. Kalshi’s reported intention to apply should not be described as authorization or evidence that trading will begin.

Citadel warns of a parallel equity market

Citadel Securities told the SEC and CFTC that perpetual contracts tied to publicly traded companies should remain within securities regulation. Its Sept. 10 letter responded to a joint request concerning how the agencies define and divide financial products.

The trading firm warned that placing equity-linked perps outside SEC oversight could create a “parallel shadow market.” Citadel argued that the contracts would still draw their economic value from securities even if they were structured as futures.

Existing securities surveillance connects activity across stocks, listed options and related instruments, according to the firm. Trading a perp through a separate regulatory system could limit regulators’ ability to compare orders and positions across connected markets.

Citadel cited insider trading as one potential concern. An employee holding unreleased earnings information could trade a company-linked perp while the stock exchange was closed, subject to the platform’s controls and applicable law.

Trading halts present another issue identified in the letter. A stock can be suspended after a major announcement or because of unusual activity, yet an independently operated perpetual contract might continue changing hands unless both venues coordinate their procedures.

Citadel said SEC rules already address order handling, market access and trading suspensions for securities. Comparable safeguards would not necessarily apply in the same form if the CFTC classified a single-stock perp as an ordinary futures contract.

Its letter presents Citadel Securities’ regulatory position, not a binding interpretation. The SEC and CFTC have not issued a joint decision covering Kalshi’s planned products.

In related coverage, ESMA warned that prediction markets can raise insider-trading and manipulation risks. The European regulator’s report concerns prediction platforms and EU access, while Citadel’s letter focuses on U.S. equity-market surveillance.

CME lawsuit could affect Kalshi’s expansion

CME Group sued the CFTC and Chairman Michael Selig in June over the agency’s approval of perpetual futures for Kalshi and Coinbase. The case remains a separate challenge from Citadel’s request for SEC oversight of stock-linked products.

CME argues that perpetual futures qualify as swaps under the Dodd-Frank Act. Its complaint asks a federal court in Washington, D.C., to overturn the CFTC’s May 29 decision approving Kalshi’s Bitcoin contract and the agency’s related policy.

The exchange operator claimed the approval caused competitive harm by allowing Kalshi and Coinbase to reach retail derivatives traders under different rules. Kalshi and Coinbase are not named as defendants in the case.

A CFTC spokesperson described the action as “frivolous,” while Kalshi said the dispute concerned competition. The quoted responses state the parties’ positions and do not resolve the legal classification at issue.

Perpetual-futures trading volume increased 29% to $61.7 trillion during 2025, according to CryptoQuant data cited by Reuters. The figure mainly represents global crypto derivatives and does not measure expected demand for U.S. stock perps.

The federal court has not issued a final ruling determining whether the approved Bitcoin product is a future or swap. A decision against the CFTC could affect the legal foundation Kalshi would use when seeking permission for its stock and ETF contracts.

Even if the CFTC accepts Kalshi’s applications, SEC involvement may depend on the final product structure. Neither agency has announced a deadline for reviewing the proposed contracts, and Kalshi has not stated when it expects to file them.

In this week’s edition of the weekly recap, a withdrawal of nearly 4,000 BTC forced Liquid Network to suspend transactions before operators began a limited restart. The U.S. CLARITY Act faced fresh doubts ahead of a Sep. 15 Senate vote, while spot Bitcoin ETFs lost $462.7 million over four trading sessions.

Liquid Network restarts blocks after $320 million withdrawal

• An actor created unbacked L-BTC and withdrew approximately 3,996 BTC through an authorized peg-out service, according to crypto.news’ report on the Liquid Network incident. The withdrawal, first reported on Sep. 6, removed roughly 95% of the Bitcoin held in the sidechain’s federation wallet at the time. Liquid stopped transactions and peg operations while developers addressed a proof-verification flaw in its Elements software.
• Liquid said on Sep. 10 that its nodes had resumed producing blocks following an emergency update. Transactions and peg operations remained suspended. The actors returned 3,400 BTC, leaving about 598 BTC outside the federation wallet. Liquid called them “purported white-hat hackers,” reflecting the actors’ claim rather than confirming they had authorization.

CLARITY Act faces a 60-vote Senate test

• Republican senators warned that the CLARITY Act might lack the votes to advance when the Senate holds a procedural vote on Sep. 15. The measure needs 60 votes to open debate. With Republicans holding 53 seats, supporters would need at least seven Democrats or independents if every Republican backed the motion.
• Sen. Cynthia Lummis blamed Democratic demands for the impasse, while other lawmakers pointed to unresolved ethics provisions involving government officials’ crypto interests. Stablecoin rewards and protections for decentralized finance developers also remained disputed. A successful procedural vote would begin Senate debate; it would not pass the bill or make it law.

Bitcoin ETFs lose $462.7 million as Ether funds gain

• U.S. spot Bitcoin ETFs recorded $462.7 million in net outflows from Sep. 8 through Sep. 11, according to Farside Investors data cited by crypto.news. Monday’s Labor Day closure left four trading sessions, and the funds posted outflows in each. Thursday’s $282.7 million loss was the largest of the week.
• Ethereum ETFs finished the period with $196.9 million in net inflows after attracting $216.4 million on Friday. Solana funds gained $9.7 million. The fund data showed a split between Bitcoin and Ether allocations as investors assessed U.S. inflation and the Federal Reserve’s Sep. 15–16 meeting.

DOJ restrains more than $52 million in crypto

• The U.S. Department of Justice restrained more than $52 million in cryptocurrency while targeting wallets and online channels linked to the Xinbi Guarantee network. Tether said authorities seized two wallets that had received about $12 million in payments and sought restraints against 47 more wallets associated with suspected money laundering.
• U.S. authorities and blockchain researchers described Xinbi as a marketplace connecting alleged scam operators with payment, laundering, and other services. Tether said it assisted the enforcement action. The wallet restraints are a confirmed step in the investigation; allegations concerning the marketplace and its users remain attributed to the authorities.

Ethereum Foundation ranks 62 Hegotá proposals

• The Ethereum Foundation graded 62 proposed changes for its planned Hegotá upgrade. About 60 protocol specialists contributed 397 assessments. Transaction inclusion lists and Frame Transactions received the highest “must ship” ranking, while other proposals were assigned lower priorities or declined.
• The rankings describe the foundation’s development priorities, not a decision to deploy all 62 changes. Its Protocol Cluster also stated a goal of making Ethereum’s base layer resistant to quantum attacks by December 2029. Developers and community members can discuss the Hegotá list at a Sep. 16 Reddit session.

Harmony proposes ending its blockchain

• Harmony proposed retiring its layer-1 network and issuing ONE balances as Ethereum-based tokens after a final snapshot. The project announced the plan on Sep. 6 and asked users to leave smart contracts before Sep. 10 because liquidity pools, multisignature vaults, and applications would not transfer with wallet balances.
• Harmony reserved $1.372 million for eligible validators and delegators, with proposed payments over four quarters. Its plan followed an August exploit that created forged ONE tokens. The final network block and Ethereum token distribution had not been confirmed in the linked report.

Bitcoin reacts to inflation before the Fed meeting

• Bitcoin fell below $78,000 on Sep. 10 after U.S. producer inflation exceeded forecasts, touching about $76,676 in crypto.news market data. The drop followed repeated failures to hold gains above $80,000 earlier in September.
• BTC recovered above $78,000 on Sep. 11 after U.S. consumer inflation met headline forecasts. Consumer prices rose 3.4% from a year earlier, while core prices increased 0.3% from July. Polymarket traders priced an 81% chance of a quarter-point Fed rate increase, according to the report.

Ripple urges senators to hear crypto holders

• Ripple Chief Legal Officer Stuart Alderoty asked undecided and opposing senators to meet crypto holders before the CLARITY Act vote. He cited a National Cryptocurrency Association estimate that about 67 million U.S. adults hold digital assets.
• Crypto.news reported that supporters of Stand With Crypto contacted lawmakers nearly 50,000 times during August, citing Reuters. Banking groups also pressed senators over stablecoin rewards and their possible effect on deposits. Those competing appeals added to the legislative dispute, but neither established how senators would vote.

Robinhood reports 61% rise in monthly crypto volume

• Robinhood’s August crypto trading volume reached $17.5 billion, up 61% from July, according to operating figures released during the week. Bitstamp processed $10.1 billion, while the Robinhood app handled $7.4 billion.
• Despite the monthly increase, combined volume was 38% below August 2025. The comparison separates a rebound from July’s quieter trading from a year-over-year recovery, which Robinhood had not reported.

U.S. agencies propose revised bank vendor guidance

• The Federal Reserve, FDIC, OCC, and National Credit Union Administration proposed new third-party risk guidelines that would let banks and credit unions adjust oversight to each outside relationship. If finalized, the nonbinding guidelines would replace the 2023 and 2024 frameworks.
• Federal Reserve Governor Michael Barr dissented, warning of possible gaps in supervision. The proposal is relevant to institutions assessing outside financial-technology providers, including digital-asset service firms, but it does not itself approve any crypto activity.

Brazil’s banks expand customer access to crypto

• Brazilian banks added digital assets to customer platforms while reporting no virtual assets on their own balance sheets in March filings reviewed by Folha de S.Paulo. Itaú offered 15 crypto assets, and Nubank listed 28.
• Banco do Brasil reported processing more than R$11 million in customer crypto transactions since January. The distinction between facilitating customer trades and buying tokens for a bank’s own account matters as Brazilian crypto firms prepare to meet licensing requirements later this year.

Flare reports 21.5 billion FLR staked

• Staked FLR increased from about 16 billion to 21.5 billion tokens after Flare changed its network economics, according to DefiLlama Research. The FIP.16 upgrade cut annual inflation from 5% to 3%.
• DefiLlama also reported that transaction-fee burns had risen to more than 10 times their earlier level. The figures measure activity after the upgrade; they do not prove the rule changes alone caused every increase in staking.

UniCredit considers broader digital-asset services

• Italy’s UniCredit is exploring crypto custody and brokerage infrastructure, according to people familiar with the matter cited by Bloomberg. The bank is also considering tokenized investments and stablecoin services, but has not selected a final product lineup or announced a launch.
• UniCredit previously offered professional clients a product linked to BlackRock’s U.S. Bitcoin ETF and issued a tokenized minibond. Its latest discussions remain at an early stage and could change before any customer service begins.

Riot Games has discussed potential esports sponsorship agreements with prediction market operators Kalshi and Polymarket as the League of Legends World Championship approaches in October.

Bloomberg reported on Sept. 11, citing people familiar with the private talks, that the Tencent-owned video game developer has held discussions with both companies over possible deals involving its esports business.

Riot, which operates competitive tournaments for League of Legends and Valorant, has not committed to either platform.

“Prediction markets are an emerging space that we’re evaluating with a focus on safeguarding competitive integrity, potential value for teams, impact on the fan experience, and alignment with our broader ecosystem goals,” Riot Games spokesperson Joe Hixson told Bloomberg.

Kalshi declined to comment on the discussions, while Polymarket did not respond to Bloomberg’s request for comment.

Riot Games could require official esports data

Any prediction market sponsor approved by Riot would be required to obtain official betting data through GRID Esports, one person familiar with the discussions told Bloomberg.

GRID already has ties to Polymarket. The prediction market operator partnered with GRID in June, gaining access to official esports data and announcing plans for faster streams, a redesigned esports section and data taken directly from game servers.

The requirement would place official game data within any sponsorship arrangement as Riot considers bringing prediction markets closer to its competitive ecosystem.

League of Legends and Valorant tournaments draw millions of viewers globally, with esports audiences skewing younger than those of traditional sports. Riot has previously cited Sportradar data showing betting tied to its two major titles reached $10.7 billion in 2024.

Most of that activity took place through unregulated markets and unlicensed bookmakers, according to Riot. The company began permitting sponsorships from traditional sports betting operators in 2025, subject to restrictions intended to protect competitive integrity.

Prediction markets already offer contracts on esports matches, allowing traders to take positions on game outcomes without a formal sponsorship relationship with Riot.

Kalshi has been recruiting for an esports-focused position tasked with forming league partnerships and increasing its presence in the sector. Polymarket had employees working on esports by at least 2025, according to LinkedIn information cited by Bloomberg.

Kalshi and Polymarket push further into sports

The Riot discussions would extend a series of deals bringing prediction markets into professional sports and entertainment.

At the end of August, Kalshi secured an exclusive US Open partnership with the U.S. Tennis Association. The agreement gave the company prediction market partner status and restricted competing platforms from advertising at the tournament venue and across its television coverage.

Kalshi had already gained FIFA World Cup exposure through an agreement with ADI Predictstreet, FIFA’s official prediction market partner for the 2026 tournament. As crypto.news previously reported, the World Cup partnership placed Kalshi branding alongside ADI Predictstreet across stadium, television and digital coverage during the competition.

Polymarket has pursued a similar strategy.

The company has signed agreements spanning Major League Baseball, the Bundesliga and other sports properties. Its Bundesliga agreement made Polymarket the league’s exclusive U.S. prediction market partner and included the use of market data during pay-per-view programming.

NBA star LeBron James became one of the latest prominent athletes connected with the company when he confirmed a Polymarket partnership through a video posted on X on Sept. 5. The initial campaign is expected to focus on American football, according to CNBC.

Prediction market operators have been competing for sports users as trading activity across the sector has climbed. Combined monthly volume across Kalshi, Polymarket and Polymarket US reached a record $50.59 billion in July, with Kalshi accounting for $37.7 billion.

Esports sponsorships come with integrity concerns

Riot’s consideration of prediction market sponsors comes as sports organizations take different positions on partnerships with the sector.

The National Football League has held back from signing prediction market sponsorships, citing concerns over inadequate regulation and ongoing legal challenges, Bloomberg reported earlier this month.

Riot has its own concerns because betting activity can create integrity risks around professional matches. Its evaluation of prediction markets is therefore considering competitive integrity alongside the possible financial benefits for esports teams and effects on fans, according to Hixson.

Sponsorship income remains an important source of revenue for esports organizations. NewZoo estimates that sponsorships can account for as much as 60% of an organization’s revenue, while the industry has historically struggled to generate sufficient income from merchandise and ticket sales.

Prediction market companies have spent heavily to place their brands around major sporting events while developing systems intended to detect prohibited trading.

Kalshi uses its proprietary Poirot detection system and has worked with Solidus Labs, IC360 and the Wharton Forensic Analytics Lab on surveillance and integrity controls. Polymarket has developed Vergence AI, an integrity monitoring system created with support from Palantir and TWG AI.

Prediction markets face state legal battles

Sports contracts remain one of the main sources of regulatory pressure on Kalshi and Polymarket in the United States.

State gaming regulators and attorneys general have argued that contracts tied to game winners, player statistics and other sporting outcomes amount to sports betting and should fall under state gambling laws. Prediction market operators have countered that their event contracts are derivatives subject to federal oversight.

The dispute has produced different outcomes across U.S. courts.

A Washington state judge in July granted a preliminary injunction blocking Kalshi from offering sports prediction markets to residents after finding the state was likely to succeed in arguing that the products violated local gambling laws.

Kalshi has faced similar challenges in New York and Michigan, while lawsuits involving prediction market regulation have spread across numerous states.

Baltimore sued both Kalshi and Polymarket in August, accusing the companies of offering unlicensed sports betting. The city’s case against Kalshi named Coinbase, Robinhood and Webull over their role in distributing sports event contracts.

Despite the legal disputes, sports have become a major source of activity for prediction markets. During the 2026 FIFA World Cup, monthly sports prediction volume reached $9.5 billion on Kalshi and $5.3 billion on Polymarket, according to Defirate data reported in June.

Riot’s discussions are taking place weeks before the League of Legends World Championship begins in October. No sponsorship agreement with either Kalshi or Polymarket has been announced.

Ethereum developers have tentatively scheduled the Glamsterdam upgrade for activation on Sepolia at 13:53 UTC on Oct. 6, 2026, while another private devnet test remains necessary before the public testnet fork proceeds.

ACDC #186 meeting notes and subsequent reporting from Ethereum protocol researcher Christine D. Kim show that the date remains conditional. Developers had not completed a stable Glamsterdam activation on a private development network when they selected the Sepolia schedule.

The testing plan has since moved forward by another iteration. Kim said on Sept. 11 that attention had turned to Glamsterdam-Devnet-11, which is expected to launch on Monday, Sept. 14. Earlier plans had identified Devnet-10 as the next major test.

No activation dates have been confirmed for the Hoodi testnet or Ethereum mainnet. Developers have discussed a possible December mainnet release, but testing results will determine whether that schedule remains practical.

Ethereum Glamsterdam upgrade date remains tentative

During the Sept. 3 All Core Developers Consensus meeting, participants agreed on Sepolia epoch 351232 for the proposed activation. Kim reported that the corresponding time would be Oct. 6 at 13:53 UTC. The meeting was held before developers had demonstrated stable performance across the private test networks used for Glamsterdam.

Selecting the epoch gives client teams, infrastructure operators and application developers a common planning target. It does not make the activation final. Developers can postpone the fork if the next testing phase uncovers a major fault or if client teams cannot prepare reliable releases.

The caveat remains relevant after Devnet-9 experienced finality problems. According to the meeting material, the network included approximately 1,000 validator nodes, making it the largest Glamsterdam devnet by validator count at that stage.

Finality requires enough validators to agree on the state of the chain. When a test network fails to finalize, developers must determine whether the cause involves client software, validator participation, network configuration or an interaction between separate protocol changes.

Devnet-11 will test fixes before Sepolia

The original plan called for Devnet-10 after faults appeared during previous trials. Kim’s latest update now identifies Devnet-11 as the next test that developers are watching, indicating that the private testing sequence advanced beyond the earlier plan.

A stable Devnet-11 would give Ethereum client teams another environment for testing the combined Glamsterdam specifications. Layer-2 teams, staking providers and other infrastructure operators need working client implementations before they can safely test their systems against the proposed fork.

Client diversity makes the process more complex. Ethereum operates through several independently developed execution and consensus clients, and the upgrade must work across different client combinations. A fault confined to one implementation can still interrupt a test network when affected validators hold enough weight.

The ACDC #186 agenda records requests from Lido and Optimism for at least one stable day before a fork. The agenda listed client fixes and successful interoperability as matters requiring confirmation before Sepolia.

A failed or unstable Devnet-11 would not automatically cancel the Oct. 6 activation. Developers would need to assess the cause and the time required for repairs. A serious issue could lead them to reconsider the date during an All Core Developers meeting.

Consensus and EIP-8037 bugs extended testing

Earlier Glamsterdam trials exposed faults on both sides of Ethereum’s architecture. Ethereum Foundation developer operations engineer Stefan Starflinger reported that Devnet-8 revealed a consensus-layer problem involving blocks that repeated a parent hash.

“You could get the whole network to stop,” Starflinger said while describing the test scenario.

The issue affected the system responsible for block agreement. Devnet-9 then suffered non-finality, prompting engineers to investigate more edge cases across a larger validator set.

On the execution side, Ethereum Foundation researcher Maria Silva reported an implementation problem involving EIP-8037. The proposal changes how Ethereum charges gas for creating new state, including new accounts, contracts and storage entries.

EIP-8037 separates state-creation costs from normal execution costs through a multidimensional gas model. Its published specification says the design seeks to control state growth as Ethereum raises its block gas limit. The proposal remains under peer review.

The discovered issue required execution clients to revise their implementations and led to specification work. As crypto.news reported in its coverage of Glamsterdam’s earlier devnet progress, EIP-8037 has been tested alongside the upgrade’s other protocol changes.

Testing serves a different purpose from approving each proposal individually. Developers must confirm that all selected changes operate together across multiple clients, validator configurations and transaction patterns.

Hoodi and mainnet dates depend on test results

Developers have declined to schedule Glamsterdam on Hoodi while Sepolia remains conditional. Hoodi is expected to serve as the second public testnet stage, giving staking operators and protocol teams another environment that more closely represents mainnet conditions.

Teku developer Enrico del Fante supported waiting before fixing the Hoodi date. During ACDC #186, he cited the recent Devnet-9 problems and favored allowing more testing time after the Sepolia decision.

A December mainnet activation remains a possible target, not a confirmed launch window. Scheduling Sepolia for early October preserves enough calendar time for another public testnet phase and client release preparation, provided testing progresses without lengthy delays.

Developers have not published a mainnet epoch, activation timestamp or final client release schedule. No formal deadline has been announced for deciding whether Oct. 6 remains suitable for Sepolia.

The immediate procedural event is the planned Devnet-11 launch on Sept. 14. Client teams will examine finality, cross-client behavior and the fixes introduced after earlier tests before deciding whether Sepolia can proceed under the current schedule.

U.S. spot Bitcoin ETFs have lost $462.7 million during the September 8–11 trading week, while Ethereum funds have gained $196.9 million and Solana funds have drawn a smaller $9.7 million inflow.

Farside Investors’ Bitcoin ETF data shows that the funds lost money each day from Tuesday through Friday. U.S. markets were closed Monday, September 7, for Labor Day, leaving four sessions in the reporting week. Farside’s separate tables put Ethereum and Solana funds in positive territory, while Hyperliquid funds ended with outflows.

Bitcoin ETF losses peaked on Thursday

Bitcoin funds began Tuesday with $46.6 million in net outflows. The daily loss rose to $120.2 million Wednesday and $282.7 million Thursday before easing to $13.2 million Friday, according to Farside. The four sessions erased part of the $986.7 million that the same funds had gained in the previous trading week.

ARK 21Shares’ ARKB had the largest weekly outflow among individual Bitcoin funds at $234.2 million. Its $164.3 million loss on Thursday accounted for much of that amount. Grayscale’s GBTC followed with $129.1 million in weekly outflows, including $65.5 million on Tuesday and $36.4 million on Thursday.

BlackRock’s IBIT lost a net $52.5 million over the week. After taking in $10.7 million on Tuesday, it posted outflows of $19.5 million on Wednesday, $24.5 million on Thursday, and $19.2 million on Friday. Fidelity’s FBTC finished the week down $50.7 million, while VanEck’s HODL lost $13.1 million.

A few products still drew money. Morgan Stanley’s MSBT gained $19.7 million across the four sessions, with inflows recorded each day. Bitwise’s BITB ended with a $1.9 million gain after its $14.5 million Tuesday inflow was largely offset by a $12.6 million Thursday outflow.

The weekly flow figures describe subscriptions and redemptions in U.S.-listed funds. They do not show whether a particular holder bought or sold Bitcoin directly. In August, crypto.news reported Jane Street held more than $1 billion in spot Bitcoin ETF shares at the end of June, including roughly $828 million in IBIT. The regulatory filing showed an earlier quarter-end position, not the firm’s holdings during the September trading week.

Ethereum ETFs turned positive after Friday’s inflow

Ethereum funds entered Friday with a combined $19.5 million net outflow for the week. Farside recorded a $24.3 million loss Tuesday, a $34.7 million gain Wednesday, and a $29.9 million loss Thursday. Friday’s $216.4 million inflow took the weekly result to a $196.9 million gain.

BlackRock’s ETHA supplied most of Friday’s inflow, adding $148.8 million. The fund finished the week with $139.9 million in net inflows after a $18.6 million outflow on Thursday, which partly offset its gains on Wednesday and Friday. BlackRock’s staked Ethereum fund, ETHB, added $55.1 million for the week, with $22.9 million arriving Wednesday and $18.3 million Friday.

Bitwise’s ETHW gained $29.1 million, all on Friday. VanEck’s ETHV drew $3.7 million the same day. Fidelity’s FETH moved the other way: a $25.2 million outflow on Thursday left it with a $3.9 million weekly loss despite inflows on Tuesday and Friday.

Grayscale’s ETHE lost $17.3 million over the four sessions. Its smaller ETH fund lost $11.8 million after a $24.6 million Tuesday outflow outweighed later gains. Ethereum ETFs brought in $215.3 million in the previous week, based on Farside’s daily totals, making the latest four-session gain slightly smaller despite Friday’s large inflow.

The listed products give U.S. investors a way to trade exposure to Bitcoin or Ethereum through fund shares. Earlier crypto.news covered Morgan Stanley’s holdings in BlackRock’s Bitcoin ETF, which its second-quarter filing put at about 16.5 million shares after a 23% increase. The report also described its exposure to Ether and Solana; those quarter-end holdings cannot be used to identify who drove this week’s ETF flows.

Solana ETFs gained $9.7 million

Solana funds posted their only positive day on Wednesday, when Farside recorded $11.2 million in net inflows. Smaller losses of $0.7 million Tuesday, $0.5 million Thursday, and $0.3 million Friday reduced the weekly total to a $9.7 million gain.

Bitwise’s BSOL accounted for $9.5 million of the weekly inflow. The fund received $11.2 million on Wednesday, then lost $1.4 million on Thursday and $0.3 million on Friday. VanEck’s FSOL added $0.9 million Thursday, and its TSOL fund gained $0.5 million Tuesday. Grayscale’s GSOL recorded a $1.2 million outflow Tuesday and no further net movement in the Farside table.

Hyperliquid funds lost money in three sessions

Hyperliquid ETFs recorded $26.5 million in weekly net outflows. Farside listed a $13 million loss Tuesday, followed by $5.3 million Wednesday and $8.2 million Friday; its table showed no net flow Thursday.

Bitwise’s BHYP accounted for $20.2 million of the weekly loss. It lost $8.1 million Tuesday, $5.3 million Wednesday, and $6.8 million Friday. The 21Shares THYP fund lost $6.3 million across Tuesday and Friday, while Farside recorded no net movement for HYPG during the week.

Japan’s Digital Agency has disclosed a cyberattack on a government network that may have exposed personal information belonging to approximately 246,000 public servants, contractors and other people involved in government work.

The Digital Agency said on Sept. 11 that an investigation into its Government Solution Service, or GSS, found that an outside attacker exploited a vulnerability in a virtual private network device and gained unauthorized access to files containing personal data.

The agency first detected unusual activity on June 25, when a maintenance and operations account was used to access a large number of files stored on its servers. An investigation later established on July 9 that a third party had entered the system through the VPN vulnerability.

Officials disabled the affected maintenance account that day and blocked communications between the compromised network equipment and external systems to prevent further unauthorized access. A subsequent investigation carried out with outside security specialists found that some files may have been taken from the network.

Japan data breach may have exposed 246,000 records

The potentially compromised information belongs to employees of government ministries and agencies using GSS, public servants who worked with those organizations, and businesses and individuals involved in their operations.

Around 189,000 records concern employees of GSS member organizations and other public servants involved in their work, including employees of incorporated administrative agencies. Another roughly 57,000 records relate to businesses and individuals that worked with GSS organizations.

The affected files contained approximately 236,000 names and 231,000 email addresses. Roughly 94,000 phone numbers and about 1,000 addresses were potentially exposed, with some records containing more than one type of personal information.

Japan’s Digital Agency said the affected data did not contain My Number identification numbers, bank account details or pension numbers. It has confirmed that the personal information of members of the general public was not included in the potentially leaked files.

No misuse of the affected personal information has been identified so far, according to the agency. Officials are working to identify the people whose information may have been compromised and plan to contact them individually.

The agency warned that exposed contact details could potentially be used for impersonation or phishing attempts. It advised affected people not to open unexpected links or attachments or provide passwords, authentication information and credit card details in response to suspicious emails, calls or text messages claiming to come from government bodies.

VPN vulnerability gave attacker access to government systems

The intrusion involved a vulnerability in network equipment used for VPN access, while the large-scale file activity was carried out through an account belonging to maintenance and operations personnel.

The Digital Agency has not identified the attacker publicly or disclosed whether the intrusion was financially motivated. Its statement did not attribute the incident to a ransomware group, state-backed actor or other known hacking organization.

Following the investigation, the agency said it would review how vulnerabilities are managed and improve methods used for external connections to its systems.

The incident emerged during a period of elevated cybercrime activity in Japan. National Police Agency figures cited in local reporting showed the country recorded 123 ransomware attacks during the first half of 2026, the highest total for any six-month period since authorities began tracking the figure.

Security incidents involving compromised access and infrastructure have remained a concern outside government systems as well. A July crypto security report previously covered by crypto.news found that 212 verified crypto incidents caused $1.1 billion in losses during the first half of 2026, with 74% of stolen funds linked to operational security failures instead of exploited smart contract code.

A separate CoinGecko security study published in August calculated that crypto platforms lost $3.63 billion across 245 documented incidents between January 2025 and July 2026. The 10 largest attacks accounted for more than 72.5% of the total amount stolen during that period.

Japan has faced major crypto-linked cyberattacks

Japan has previously dealt with large cyber thefts targeting its cryptocurrency sector, including the attack on DMM Bitcoin that ultimately forced the exchange to wind down its operations.

The DMM Bitcoin breach resulted in the theft of more than 4,500 Bitcoin worth roughly $307 million at the time. Japanese authorities and the FBI later connected the operation to TraderTraitor, a North Korean-linked group associated with other cryptocurrency thefts.

Investigators found that the DMM Bitcoin operation began through social engineering targeting an employee at Ginco, a Japanese cryptocurrency wallet software company that provided services to the exchange. An attacker posing as a recruiter sent the employee a malicious Python script during what appeared to be a pre-employment test.

Access obtained through Ginco was later used to manipulate a legitimate DMM Bitcoin transaction request, according to authorities. The stolen Bitcoin was subsequently traced to wallets controlled by the attackers.

North Korean-linked groups have continued targeting cryptocurrency infrastructure outside Japan. Bybit said in August that its security systems blocked more than 30,000 suspicious withdrawals during the first half of 2026, preventing more than $700 million in potential user losses after the exchange suffered a $1.46 billion theft in February 2025.

The exchange said it had expanded continuous onchain monitoring following the attack, while its security teams processed more than 100,000 alerts with AI assistance during the first half of this year. Bybit’s monitoring systems identified 10 security incidents affecting listed token projects during the period without losses to the exchange.

Other recent breaches have centered on personal information rather than direct theft of digital assets. Israeli crypto broker Bits of Gold began investigating a customer data breach in August after unauthorized access to a third-party system potentially exposed names, identification numbers, email addresses, phone numbers, IP addresses and some banking information.

Bits of Gold said cryptocurrency, customer funds, passwords, identification document scans and full payment card details were not compromised in that incident. The company traced the exposure to third-party software affected by a larger breach and said it began investigating after receiving information about the incident.