October’s Crypto Highlights: NFT Sales, Tokenized Funds, and ETF Filings

Here is the latest on daily trends and events impacting major crypto sectors such as Bitcoin, blockchain, DeFi, NFTs, Web3, and crypto regulation.

NFT Market Rebounds: Sales Increase 18% in October

October saw an 18% surge in NFT sales volume, reaching $356 million, a welcome increase after September’s record lows. According to CryptoSlam data, NFT transactions rose by 42%, totaling 7.2 million transactions in October, up from 5 million in September.

Notably, the Mythos Chain-based collection DMarket led sales with $33 million, followed by Guild of Guardians Heroes on the Immutable network with $13 million in volume.

UBS Launches Tokenized Fund on Ethereum Blockchain

In a notable move, Swiss investment bank UBS launched a tokenized fund on the Ethereum blockchain, marking an entry into the world of tokenized financial assets. The fund, known as the UBS USD Money Market Investment Fund Token (uMINT), represents a growing appetite for tokenized assets.

UBS APAC co-head Thomas Kaegi highlighted investor interest in these assets across multiple classes, positioning Ethereum as a major player in traditional finance. “This is putting ETH at the heart of traditional finance,” crypto commentators noted.

21Shares Files for Spot XRP ETF

Asset manager 21Shares has filed with the U.S. Securities and Exchange Commission (SEC) to list a spot XRP ETF, joining Bitwise in its recent filing. The proposed Core XRP Trust aims to provide investors indirect exposure to the XRP market.

Coinbase Custody Trust Company will serve as the custodian if the SEC approves the ETF. The SEC has already approved several spot Bitcoin and Ethereum ETFs this year, although it has yet to decide on any XRP ETFs.