PA Daily | Binance is about to launch Aster; ETF becomes the new high market maker for Bitcoin

Today's headlines reminder:

Binance is about to list Aster (ASTER) and add a seed label for it.

Aster: S2 trading fees can be fully refunded, airdrop tokens will start distribution on October 14.

Analysis: ETFs become the main force behind Bitcoin's new highs, with a net inflow of over $3.2 billion in a single week.

Morgan Stanley GIC will support financial advisors and clients in allocating cryptocurrency.

Bloomberg: Hong Kong Securities and Futures Commission CEO Ashley Alder is expected to be reappointed for three years.

Bitcoin spot ETFs saw a net inflow of $3.24 billion last week, marking the second highest weekly net inflow in history.

DeFiLlama Founder: Due to the inability to rule out the suspicion of Aster wash trading, the related perpetual contract trading volume will be removed.

Data: Tokens such as APT and LINEA will experience a large unlock next week, with APT unlocking approximately $62.3 million.

Data: AI startups have raised $192.7 billion this year

Opinion:

Analysis: ETFs become the main force for Bitcoin's new highs, with a weekly net inflow exceeding 3.2 billion USD.

According to Cointelegraph, last week major Bitcoin treasury companies purchased a total of over 6,702 Bitcoins, with an investment amount of approximately $1.2 billion, among which Japan's Metaplanet increased its holdings by 5,258 Bitcoins in one week. However, the key driving force behind Bitcoin's price breaking the $125,000 mark comes from the spot Bitcoin ETF, which saw a net inflow of $3.24 billion in one week, almost matching the weekly record set in November 2024.

Moreover, since the beginning of this year, institutional buying power for Bitcoin has greatly exceeded miner output. According to a report by the financial services company River, companies are purchasing an average of 1,755 coins daily, while ETFs are absorbing an average of 1,430 coins per day, and miners are producing about 900 BTC daily on average. Many analysts have pointed out that the influx of funds into ETFs combined with tight liquidity could continue to amplify Bitcoin's volatility and upward potential.

a16z: Crypto startups need to adopt enterprise-level sales strategies, and landing in the Asian market is key.

a16z crypto published an article pointing out that as traditional institutions increasingly show interest in the cryptocurrency industry, crypto startups must adopt robust enterprise sales strategies early on to overcome internal political barriers and existing technology integration challenges within large institutions, breaking the misconception that “a good product can sell itself.” At the same time, a16z emphasized the importance of establishing a presence in the Asian market. According to a report from Korea Blockchain Week (KBW), for projects looking to succeed in Asia, it is essential to establish a physical presence locally and actively align with the local ecosystem, as local users value partnerships and the legitimacy brought by product launches more than just the underlying technology. Furthermore, a16z believes the industry should be wary of speculative products like Memecoin and focus its efforts on empowering individuals through blockchain technology rather than intermediaries.

NYDIG questions the transparency of the reserve report for the Trump family's stablecoin USD1.

According to Coindesk, the transparency and quality of the reserve proof report for the stablecoin USD1 issued by the cryptocurrency company World Liberty Financial, which is heavily involved with the Trump family, have been called into question. NYDIG analysts pointed out that although USD1 claims to be fully backed 1:1 by cash equivalents such as U.S. Treasury bonds, the currently released proof report does not meet industry-leading transparency standards and needs further improvement. Previously, due to Trump's political influence and the close financial ties between his family and the company, the USD1 project has raised serious concerns among U.S. senators regarding conflicts of interest and national security risks.

Federal Reserve Report: Aging population and wealth growth will drive demand for crypto assets until 2100

Cointelegraph reported that according to a research report released by the Kansas City Fed, the global aging population and productivity gains are expected to continue driving demand for global assets, including Bitcoin, until 2100. The report predicts that aging will add an extra 200% to GDP in asset demand between 2024 and 2100. Gracy Chen, CEO of Bitget, pointed out that with increased regulatory clarity and the emergence of institutional products such as ETFs, the aging population may value Bitcoin as a store of value similarly to gold over the next 75 years. Additionally, Bitfinex analysts believe that the increase in global wealth will enhance investors' risk appetite and demand for asset diversification, thereby increasing the demand for crypto assets.

macro

Bloomberg: Hong Kong Securities and Futures Commission CEO Ashley Alder is expected to be reappointed for another three years.

According to Bloomberg, informed sources say that Julia Leung, the Chief Executive Officer of the Hong Kong Securities and Futures Commission (SFC), is expected to be reappointed for another three years. It is reported that Julia Leung has been serving as the CEO of the SFC since January 1, 2023, during which she introduced a licensing regime for virtual asset trading platforms and released a roadmap for virtual assets, indicating a friendly stance towards the digital asset industry and stating that the future of digital assets is vibrant and promising. She also mentioned that the same business, same risk, same rules regulatory concept will be applied to include crypto over-the-counter trading and custodial institutions under regulatory oversight. It is reported that a Hong Kong government spokesperson responded by saying that they would not comment on speculation regarding personnel appointments, while the SFC stated that it would synchronize updates in due course.

Morgan Stanley GIC will support financial advisors and clients in allocating cryptocurrencies.

According to a post by Bitwise CEO Hunter Horsley, Morgan Stanley's Global Investment Committee (GIC) has released a new special report stating, “We aim to support our financial advisors and clients who can flexibly allocate cryptocurrency as part of a multi-asset portfolio.”

It is reported that GIC guides 16,000 advisors to manage $20 trillion in savings and wealth for clients. Hunter Horsley commented that this marks the entry of cryptocurrency into the mainstream era.

Project Updates

Binance is about to list Aster (ASTER) and add a seed label for it.

According to the official announcement, Binance will launch Aster (ASTER) on October 6, 2025, at 20:00, and will open multiple spot trading pairs: ASTER/USDT, ASTER/USDC, ASTER/TRY. The ASTER recharge channel will open on the same day at 17:00, and withdrawals are expected to open on October 7, 2025, at 20:00.

Binance Alpha will launch Pipe Network on October 8th, and eligible users can claim airdrops.

According to the official announcement, Binance Alpha will become the first platform to list Pipe Network (PIPE) on October 8. Eligible users can visit the Alpha activity page to claim airdrops using Binance Alpha points after Alpha trading opens. Further details will be announced separately.

The community sales subscription amount of Limitless exceeded 200 million USD, with an oversubscription of 200 times.

The community pre-sale of Base prediction market Limitless on Kaito AI's fundraising platform Capital Launchpad has ended, with subscription amounts exceeding $200 million, 200 times oversubscribed.

Aster: S2 transaction fees can be fully refunded, and airdrop tokens will start being distributed on October 14.

Aster announced on platform X that it will increase flexibility for community S2 reward collection: Option 1: You can still receive ASTER airdrops as usual; Option 2: Full refund of S2 transaction fees, enjoy zero-fee trading activities.

According to reports, users can choose option 1 or 2 when the claiming page opens on October 10, and the claiming will end on October 12 (48 hours later). If no choice is made, it will default to option 1. The airdropped ASTER tokens will begin distribution on October 14, and the transaction fee refunds will be processed in batches after the claiming period ends. Additionally, Aster has stated that all airdrop allocations will be evenly distributed across the various periods of each phase.

DeFiLlama Founder: Due to the inability to rule out suspicions of Aster wash trading, the related perpetual contract trading volume will be removed from the shelves.

0xngmi, the founder of DeFiLlama, stated on the X platform that the perpetual contract trading volume on Perp DEXAster, especially the XRP/USDT trading pair, is almost identical to the perpetual contract trading volume on Binance, with a ratio close to 1:1. Since Aster does not provide underlying data on order creation and execution, it's impossible to verify whether wash trading is occurring. Therefore, until the platform provides data to rule out the suspicion of wash trading, the related Aster perpetual contract trading volume will be removed from DeFiLlama.

Bitwise submitted the S-1 filing for the Aptos ETF

The cryptocurrency asset management company Bitwise has formally submitted the S-1 registration document for the Aptos ETF to the U.S. Securities and Exchange Commission (SEC) to advance its potential ETF product. Bitwise CEO Hunter Horsley confirmed this news via the X platform, stating that although he cannot disclose more details due to a quiet period, he is “excited” about the momentum of the Aptos ecosystem's development. This move is a formal step following Bitwise's initiation of the Aptos ETF regulatory process earlier this year, and the final approval of this application may take several months.

Important Data

A certain Ethereum OG whale sold 1,800 ETH today, with a cost of $2,523.

According to Lookonchain data monitoring, a certain Ethereum OG whale address sold 1,800 ETH (approximately $8.12 million) today to take profits. This address withdrew 5,999 ETH (approximately $15.14 million) from Kraken four years ago at a price of $2,523.

Market: BNB breaks through $1200, setting a new historical high

Binance market shows that the BNB price has surpassed 1200 USD, with a 24-hour increase of 2.4%, reaching a historic high, and the market cap has grown to 166.199 billion USD.

Bitcoin spot ETFs saw a net inflow of $3.24 billion last week, marking the second highest weekly net inflow in history.

According to SoSoValue data, the net inflow for Bitcoin spot ETFs in the last trading week (Eastern Time from September 29 to October 3) was $3.24 billion. The Bitcoin spot ETF with the highest net inflow last week was Blackrock's Bitcoin ETF IBIT, which had a weekly net inflow of $820 million, bringing the total historical net inflow for IBIT to $62.63 billion. Following this was Fidelity's ETF FBTC, with a weekly net inflow of $692 million, and a total historical net inflow of $12.62 billion.

Ethereum spot ETFs had a net inflow of $1.3 billion last week, with all nine ETFs experiencing net inflows.

According to SoSoValue data, during the trading days last week (Eastern Time from September 29 to October 3), Ethereum spot ETFs saw a net inflow of $1.3 billion, with all nine ETFs experiencing net inflows. The Ethereum spot ETF with the highest net inflow last week was Blackrock ETF ETHA, with a weekly net inflow of $692 million, bringing the total historical net inflow for ETHA to $13.85 billion. Following that was Fidelity ETF FETH, with a weekly net inflow of $305 million, and the total historical net inflow for FETH currently stands at $2.82 billion.

Data: AI startups have raised $192.7 billion this year.

According to The Kobeissi Letter, as of 2025, VC has invested a record $192.7 billion in AI startups, making this year likely to be the first in history where over 50% of venture capital funding flows into the AI industry. In the past 12 months, the share of AI in VC transactions in the U.S. has exceeded 60%, tripling since the initial phase of the pandemic in 2020.

CoinShares: Last week, digital asset investment products saw inflows of $5.95 billion, setting a record for the largest weekly inflow.

According to CoinShares' latest weekly report, last week saw an inflow of $5.95 billion into digital asset investment products, marking the largest single-week inflow on record. CoinShares believes that this massive inflow is a delayed reaction to the Fed's interest rate cut, driven by weak employment data and concerns over the stability of the U.S. government.

Among them, BTC and ETH recorded inflows of $3.55 billion and $1.48 billion, respectively, while SOL and XRP attracted inflows of $706.5 million and $219.4 million, respectively. From a regional perspective, the United States recorded inflows of $5 billion, setting a historical high; Switzerland and Germany saw inflows of $563 million and $312 million, respectively. Driven by positive price trends, the total scale of digital asset management reached a historic high of $254 billion.

Data: Tokens such as APT and LINEA will have a large unlocking next week, with APT unlocking valued at approximately $62.3 million.

Token Unlocks data shows that tokens such as APT, LINEA, BABY, and PEAQ will experience significant unlocks next week, including:

Aptos (APT) will unlock approximately 11.31 million tokens at 4:00 AM Beijing time on October 12, accounting for 2.15% of the current circulating supply, valued at around $62.3 million.

Linea (LINEA) will unlock approximately 1.08 billion tokens at 7 PM Beijing time on October 10, accounting for 6.57% of the current circulating supply, valued at about $29.6 million;

Babylon (BABY) will unlock approximately 321 million tokens at 6 PM Beijing time on October 10, which is 24.74% of the current circulating supply, valued at approximately 17.4 million USD;

peaq (PEAQ) will unlock approximately 84.84 million tokens at 8:00 AM Beijing time on October 12, accounting for 5.95% of the current circulation, valued at about 10.8 million USD.

A certain ETH whale transferred 15,000 ETH to Bitfinex after holding it for 6 years, still holding 85,000 ETH.

According to Yu Jin monitoring, 6 years ago ( in 2019, a whale/institutional address withdrew 123,000 ETH from Bitfinex. After 5 years, it transferred 15,000 ETH ) worth approximately $68.22 million ( to Bitfinex 20 minutes ago. In 2019, this address withdrew 123,000 ETH from Bitfinex when the price of ETH was $154, making the total value of these ETH $19.04 million; currently, it still holds 85,000 ETH ) worth approximately $391 million (.