Today in crypto, European Central Bank head touts CBDC as symbol of ‘trust,’ Spot Solana ETFs continue to attract investor interest amid “capital rotation” from Bitcoin and Ether funds, Meanwhile, Bitcoin ended October at a 3.69% monthly decline, the first time in seven years.
European Central Bank head touts CBDC as symbol of ‘trust’
European Central Bank (ECB) president Christine Lagarde said on Friday that the digital euro, a central bank digital currency (CBDC), is a “symbol of trust,” and that the ECB is aiming to launch it “as early as possible.”
Lagarde said that traditional “banknotes” would continue to circulate and that the digital euro CBDC would function like cash but for online payments. She continued:
“This is a big project because the euro is our currency, your currency. It brings us together. It’s a symbol of trust in our common destiny, so off we go with the digital euro in the next and final phase of preparation.”
The announcement drew significant backlash from the crypto community, which views CBDCs as antithetical to cryptocurrency and the core ethos of permissionless, decentralized finance (DeFi).
Solana ETFs see inflows for 4th consecutive day amid ‘capital rotation’ from Bitcoin, Ether funds
Spot Solana exchange-traded funds (ETFs) continue to attract investor interest, recording their fourth straight day of inflows amid “capital rotation” from Bitcoin and Ether funds.
According to data from SoSoValue, spot Solana (SOL) ETFs added $44.48 million on Friday, bringing cumulative inflows to $199.2 million and total assets to over $502 million. The Bitwise Solana ETF (BSOL) led the charge, contributing the bulk of new capital with a 4.99% daily gain.
In contrast, spot Bitcoin (BTC) ETFs saw $191.6 million in daily net outflows on the same day, continuing a week-long trend of profit-taking. The funds saw $488.43 million in outflows on Thursday and $470.71 million the previous day.
Spot Ether (ETH) ETFs also posted $98.2 million in outflows, reducing their cumulative inflows to $14.37 billion. The funds shed $184.3 million on Thursday and $81.4 million on Wednesday.
Bitcoin ends October in red, but now enters its biggest month for gains
Bitcoin has stepped into its historically most significant month for gains — November — with an average increase of 42.51% since 2013 — meaning Bitcoin could surpass $160,000 this month if history rhymes.
However, a crypto analyst noted that several macroeconomic factors are also at play.
“I do think seasonal charts matter a lot, but it has to be combined with a lot of other factors,” said crypto analyst Markus Thielen from 10x Research.
Looking ahead, there is an expectation that the US Fed will further lower interest rates, and the US and China are working on a trade deal; both developments could be favorable for Bitcoin.
However, the government shutdown and US tariffs continue to add to economic uncertainty.
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