Non-fungible tokens (NFTs) broke their seven-month downward trend in October, recording an 18% rise in sales volume. October’s volume reached $356 million, up from September’s low of around $300 million, according to CryptoSlam data. This rebound also saw a 42% increase in total transactions, with over 7.2 million transactions recorded in October compared to September’s five million. Leading the market was Mythos Chain-based DMarket with $33 million in sales, followed by the Immutable-based collection Guild of Guardians Heroes, which posted $13 million in volume.
UBS Launches Tokenised Fund on Ethereum
Swiss investment bank UBS has rolled out its first tokenized money market fund on the Ethereum blockchain, signaling a growing interest in tokenized financial assets among traditional investors. Named the UBS USD Money Market Investment Fund Token, or “uMINT,” the fund is part of a broader move by UBS to integrate blockchain into traditional finance. UBS APAC co-head Thomas Kaegi noted an increasing appetite for tokenized assets across asset classes, while crypto experts believe this move could positively impact Ethereum’s value.
21Shares Applies for Spot XRP ETF
Asset manager 21Shares has applied to the US Securities and Exchange Commission (SEC) for approval to list a spot XRP exchange-traded fund (ETF), known as the Core XRP Trust. If approved, Coinbase Custody Trust Company will serve as custodian for the fund. 21Shares’ filing follows a similar application by Bitwise in October. The SEC has already approved several Bitcoin and Ethereum spot ETFs this year but has yet to reach a decision on XRP-focused applications amid its legal dispute with Ripple Labs.
These developments underscore the fast-evolving nature of the crypto market, with renewed momentum in NFT sales, institutional adoption of blockchain, and continued interest in crypto ETFs.
