This Monday, October 12, two opposing moves: bitcoin climbed back above $84,000 on Sunday evening on the announcement of an energy ceasefire that Moscow has not confirmed, while US bitcoin and ether ETFs are coming off a week of net outflows, according to Journal du Coin. Evernorth, backed by Ripple, is also set to debut on Nasdaq.

Bitcoin: a rebound on an announcement, not on a confirmed agreement

On Sunday, October 11, Donald Trump wrote on Truth Social that an energy ceasefire between Russia and Ukraine was taking effect "immediately." According to Blockchain Reporter, cited by Journal du Coin, the message sets no conditions, no start time and no monitoring mechanism. Bitcoin took off when Volodymyr Zelensky offered conditional support on X, writing in particular that "Ukraine supports this ceasefire, and it is important that Russia supports it too."

Moscow has confirmed nothing, and Journal du Coin points out that Donald Trump had already announced a similar truce, followed by new strikes on energy infrastructure. On the price side, at dawn on Monday, bitcoin was hovering around $83,900, up about 1% and $3,600 above Thursday's low ($80,300). According to the outlet, bitcoin could give back its gain as quickly as it made it.

CryptoQuant data show bitcoin pinned to $80,500, the price at which the average investor neither gains nor loses. The crypto fear and greed index returned to neutral territory, at 58, on Sunday evening.

ETFs: a week of outflows for bitcoin, ether and Solana

According to The Block, citing figures from SoSoValue, US bitcoin ETFs lost $681.1 million over the week ending Friday, October 9. This week ends three weeks of net inflows and is the worst since the week ending June 26 ($1.79 billion in outflows). The breakdown:

  • Wednesday accounted for $487.1 million in outflows, the day bitcoin began its slide below $84,000.
  • Friday brought in $21.1 million.
  • Total assets under management stand at $105.84 billion.
  • Year-to-date net inflows fall to $494.1 million, compared with $1.18 billion a week earlier.

Over the same week, US ether ETFs lost $542.1 million, their worst performance since January, again according to The Block and SoSoValue. Outflows have continued for nine sessions in a row, and BlackRock's ETHA fund accounts for $477 million of them, or 88%. Ether was climbing back toward $2,540 on Monday (+1.25% over 24 hours). Solana ETFs fell by $24.8 million: a modest amount, but a record since their launch, ending fourteen weeks of inflows.

Evernorth on Nasdaq with 473 million XRP

Evernorth, a treasury vehicle backed by Ripple, is set to debut on Nasdaq this Monday, at the Wall Street open (15:30 Paris time), under the ticker XRPN. According to CryptoPotato, cited by Journal du Coin, the company completed its merger on Friday with Armada Acquisition Corp. II, a listed company created to acquire a business (SPAC). The merger and private placements raised more than a billion dollars, with Ripple, SBI Group, Kraken and Pantera Capital among the investors. The debut, scheduled for October 8, slipped to the 12th due to an administrative delay.

Evernorth holds 473 million XRP. At the price of $1.40 recorded on Monday by Journal du Coin, that represents about $662 million, plus some $300 million in cash before fees. This value tracks the XRP price directly.

Key takeaways

These figures describe a past week and a Monday morning; they say nothing about what comes next. Upcoming events cited by Journal du Coin: the opening of Thai exchanges to bitcoin and ether ETFs on October 16, the weekly XRP and Solana ETF flow report on the same day, and the US midterm elections on November 3.

For Swiss readers who follow crypto assets through exchange-traded products, one question remains open: is this outflow trend seen in the United States also showing up elsewhere? The sources consulted do not say. This article does not constitute investment advice.

Sources: Journal du Coin, "Bitcoin near $84,000: Trump's ceasefire revives the price, ETFs remain in outflow"; Journal du Coin, "XRP at $1.40 as Evernorth arrives, ether at $2,540 and ETFs in outflow - The altcoin roundup."