Hyperliquid HYPE spot ETFs recorded $5.29 million in net outflows on September 9 after $12.96 million on September 8, totaling $18.25 million, while two whale addresses bought 424,996 HYPE worth about $35.91 million and staked the full amount. HYPE traded near $80.83 after a 6.4% daily drop, with the session range at $80.34 to $86.99.

Bitwise will wind down and liquidate its spot Dogecoin exchange-traded fund, BWOW, less than a year after its debut, citing a lack of sustained investor demand. The ETF, launched Nov. 25, 2025, held about $688,000 in net assets as of Sept. 9. BWOW is expected to see its final trading day on NYSE Arca on Oct. 14. Bitwise plans to begin liquidating the fund's Dogecoin holdings after trading ends, giving shareholders the ability to exit in the market through that date. The firm will halt new share creation before the market opens Oct. 15. Investors who continue to hold shares after trading stops are slated to receive cash based on the fund's net asset value calculated on Oct. 21, with payments expected on or around Oct. 22 via brokers and other intermediaries. BWOW briefly posted about $3 million in daily trading volume at launch, but activity failed to return to those levels. Across the broader category, spot Dogecoin ETFs have generated roughly $300 million in cumulative trading volume, trailing Hyperliquid products at $2.1 billion, Zcash at $1.5 billion, and Chainlink at $680 million. Spot DOGE ETFs took in about $318,000 of net inflows last month, reversing modest July outflows but not materially shifting the overall demand picture. The first Dogecoin ETF arrived in September 2025, raising expectations for the category, but follow-through has remained limited. Dogecoin was recently trading near $0.084, with a market capitalization of about $13 billion, after slipping out of the top 10 cryptocurrencies over the past year as HYPE and ZEC gained ground. Bitwise said the BWOW closure is part of an effort to optimize its product lineup, underscoring how quickly memecoin ETF enthusiasm can fade when capital and liquidity fail to materialize.

BitMine Immersion Technologies has built a staked ether position that is nearing 12% of Ethereum's active stake, yet the company has not disclosed who operates the validators or controls the signing keys. In its latest filing, BitMine said it had 5.07 million ETH staked as of Sept. 7, about 85% of its 5.93 million ETH total holdings. Based on the prices used in the filing, the staked position was valued at roughly $12.6 billion. With around 43.03 million ETH actively securing Ethereum at press time, BitMine's stake equates to about 11.8% of the network's active stake. The figures clarify BitMine's economic exposure, but they do not establish its influence over Ethereum's consensus. That requires details on how the stake is distributed across validator operators and who holds the signing keys that authorize block proposals and transaction attestations. BitMine has not provided that breakdown. A Sept. 8 operational update said only that "a portion" of its ETH was already staked through MAVAN, its institutional staking platform. The company added that, at scale, it plans to stake ETH through "MAVAN and its staking partners," without disclosing the split between BitMine-run infrastructure and external operators. The disclosure gap becomes more consequential as BitMine moves toward its stated objective of owning 5% of Ethereum's total supply and directs most of those holdings into staking. Under Ethereum's proof-of-stake design, consensus power is exercised through validators and their signing keys, not simply through ownership of the ETH backing them. Concentration of signing authority matters because Ethereum finalizes checkpoints using attestations representing two-thirds of staked ETH, while an operator controlling at least one-third could block finality by withholding votes. BitMine's 11.8% economic position is well below that one-third threshold. Public disclosures also do not support attributing that entire percentage to BitMine, MAVAN, or any single staking provider. An earlier quarterly filing described BitMine as the principal node operator while also citing reliance on outside infrastructure. More recent disclosures add additional participants without explaining how validator responsibilities are allocated. BitMine ended a management-services agreement with Ethereum Tower on Sept. 3 and appointed its affiliate American Validator the following day to advise MAVAN Holdings. American Validator is set to receive a fee equal to 1.5% of rewards generated from company-staked ETH. The agreement does not identify American Validator as operator of the full validator fleet or grant it signing authority. MAVAN's documentation also separates where withdrawn ETH is sent from validator operations, allowing users to designate the destination of returned funds while using MAVAN's staking infrastructure. A clearer assessment of concentration would require BitMine to disclose which validator cohorts are run by each provider, how signing keys are controlled, and how infrastructure is distributed across software clients and hosting environments. These details could matter more if BitMine continues scaling MAVAN beyond its own treasury. The company says the platform has expanded to serve institutional investors, custodians, and ecosystem partners, potentially placing additional third-party ETH onto infrastructure tied to the BitMine staking business. For Ethereum investors, the next metric may not be how much ETH BitMine stakes, but whether its growing validator business eventually provides enough operational detail to show where the corresponding consensus authority actually sits. The post BitMine's staked ETH equals nearly 12% of Ethereum's active stake, but who controls it? appeared first on CryptoSlate.

Stablecoin activity on the XRP Ledger has accelerated, with 30-day transfer volume climbing past $5 billion. Data from RWA.xyz, which tracks tokenized real-world asset metrics, shows stablecoin transfers totaling $5.25 billion over the past 30 days, up 18.21% from the prior 30-day period. The pickup in on-chain stablecoin flows comes as XRP faces renewed selling pressure after holding onto part of its August rally, which saw the token rise about 30%. Even with the broader market cooling, XRP has remained above $1.35. RWA.xyz data also points to expanding participation in XRPL-based stablecoins. The number of stablecoin holders on the network increased 10.13% over the past month to 80,740. The overall stablecoin market on XRPL grew in tandem. Total stablecoin market capitalization rose 26.04% month over month to $1.10 billion, after moving above the $1 billion threshold last month. Tokenized asset activity on XRPL showed mixed momentum. Over the same 30-day window, the number of RWA holders increased 19.63% to 256, while distributed asset value slipped 5.51% to $458.39 million. Represented asset value eased 2.01% to $3.97 billion. RWA 30-day transfer volume fell 87.15% to $31.14 million. The drop in transfers may reflect investors holding tokenized assets on XRPL rather than moving them between wallets. Ripple's RLUSD has been the primary driver of XRPL stablecoin market growth. Ripple launched RLUSD in December 2024, and its footprint has continued to expand. Earlier this month, The Crypto Basic reported RLUSD surpassed a $2 billion market cap, with roughly $1 billion issued on the XRP Ledger. At the time of reporting, RLUSD's market value on XRPL was $1,033,001,741, up 26.86% over the past 30 days. RLUSD has also increased its share within XRPL's distributed RWA market. Its share rose 10% over the past month to 66.32%, underscoring that even as some tokenized-asset metrics soften, stablecoin usage led by RLUSD continues to expand across the XRP ecosystem. Disclaimer: This content is for informational purposes only and should not be considered financial advice. The views expressed may reflect the author's personal opinions and do not necessarily represent The Crypto Basic's position. Readers should conduct their own research before making investment decisions. The Crypto Basic is not responsible for any financial losses.

ME News reported that on Sept. 11 (UTC+8), Japanese payments provider Netstars said it signed a memorandum of understanding with the Kaia DLT Foundation, which operates the Layer 1 blockchain Kaia, to accelerate stablecoin adoption for in-store payments in Japan. Under the partnership, stablecoins issued on Kaia will be connected to Netstars' StarPay and Stablecoin Pay services, with the goal of enabling Japanese retailers to accept stablecoins pegged to the Korean won, Hong Kong dollar, New Taiwan dollar and currencies across Southeast Asia. (Source: Foresight News)

The @Pumpfun mobile app is no longer available for download on Apple's App Store in the US and India, creating an unexpected hurdle for the platform's retail-focused distribution strategy. The current iOS version continues to run for existing users, and the app remains available on Google Play. The App Store block may reflect growing friction between fast-moving speculative apps and Apple's strict content standards, while also complicating retail onboarding in two of the world's largest mobile markets.

ChainCatcher reports that, based on GMGN market data, EMBER—the platform token of Solana's Ember Curve—has pushed its market capitalization above $40 million. The token climbed 170% over the past 40 minutes and is up 730% in the last 24 hours, with 24-hour trading volume reaching $29.6 million. Ember Curve is a newly launched token issuance platform on Solana built on Meteora. Noted trader Bonk Guy said he bought EMBER—his first Solana ecosystem token purchase in a long time—describing Ember Curve as one of the strongest fundamentally backed token launch platforms currently available, citing Meteora's resources and endorsements. Bonk Guy also forecast that EMBER's market cap could exceed $100 million. On-chain data shows Bonk Guy's public address holds about $1.16 million worth of EMBER, with unrealized gains of 180%.

Odaily Planet Daily data show SKHX at $1,359.60 and SKHY at $190.05, putting SKHY at an estimated 39.8% premium to SKHX. The spread has expanded from 33.9% to about 40% over the past week. Over the last two days, six addresses opened the same paired strategy, going long SKHX and short SKHY. In total, they put on roughly $24.439 million in SKHX longs and $24.876 million in SKHY shorts, for about $49.315 million in combined notional exposure. Among them, address 0x382d opened about $8.225 million in SKHX longs against $8.407 million in SKHY shorts. Address 0x2ab3 opened about $7.865 million in SKHX longs and $7.862 million in SKHY shorts. The other four addresses each built positions ranging from roughly $1.5 million to $3.2 million. Those six addresses currently hold around $22.184 million in SKHX longs and $22.845 million in SKHY shorts. The SKHY short leg shows about $481,000 in unrealized profit, while the SKHX long leg has about $581,000 in unrealized losses, leaving a net unrealized loss of roughly $100,000. Since opening the trade, the group has paid approximately $52,400 in funding fees, including about $21,900 over the past 24 hours. As of 19:09, the dynamic funding rate for SKHX has flipped negative; at current position sizes and rates, the strategy is now collecting about $4,890 per hour in net funding.

Bitwise is set to liquidate its Dogecoin ETF (BWOW) less than a year after launching the product, CoinDesk reported. Trading will end on Oct. 14, and remaining shareholders will be paid out in cash redemptions the following week. The move comes as the cryptocurrency ETF market continues to recalibrate. Coinpedia data cited by CoinDesk shows 10 ETFs have been liquidated so far this year, with combined assets under management down about 40% from issuance levels to roughly $9 billion. Bitwise said the closure is meant to streamline its product lineup and better match investor demand. The firm provided no additional details. Dogecoin was last changing hands at $0.08343, down 2.5% over the past 24 hours and 4.2% over the past week, the report said. The article tied the pullback to softer appetite for ETF wrappers around low-market-cap altcoins.