Oct 25, 2026 · 6 min listen · Last updated October 25, 2026
From storyflo. This is your daily audio brief. It's Dex, October 25th. On-chain and off — the five stories setting today's crypto agenda. Let's get into it. First, from Newsbtc. Bitcoin ETF Flows Trail Price Moves, DWF Study Finds.
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Daily Crypto Brief · October 25th
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Bitcoin ETF Flows Trail Price Moves, DWF Study Finds
Bitcoin ETF flows are showing a stronger correlation with past price movements than future ones, according to a recent study by DWF Labs. They found a correlation of 0.54 with the previous five-day returns, but only 0.03 with the following five days. This suggests that while ETF inflows can reflect past investor behavior, they don't reliably predict future price movements.
The study emphasizes that just because flows and prices move together doesn’t mean one causes the other. For example, an investor might buy a spot ETF and sell futures simultaneously to capture price differences, which could obscure the true intent behind ETF transactions.
Changes in market mechanics, like the SEC's approval of in-kind creations and redemptions for crypto ETFs, add another layer of complexity. This means that while ETF flows can indicate shifts within the trading structure, they don't reveal the full picture of an investor's position or intent.
So, while the data offers insights into investor behavior, it raises the bar for making predictive claims about Bitcoin's price based on ETF flows. Essentially, a large flow number is just the beginning of understanding market dynamics, not a definitive signal for future price action.
For listeners who want low-fee crypto exposure, our markets partner Kraken supports Bitcoin — link in show notes.
UAE-Led Operation Flags $39B Linked to Crypto and Online Scams
$39 billion — that’s the staggering amount flagged by a UAE-led operation targeting online fraud and scams, which ran from July to September 2026. This initiative, called Operation Confrontation Ghost, involved Interpol and 30 countries, highlighting the vast scale of digital crime. They managed to thwart over 123 million fraud attempts and arrested more than 960 suspects.
The operation also focused on AI-enabled fraud and utilized tokenization technology to secure over four billion transactions monthly, which is a big step in reducing fraud risks. With over 3,500 suspects identified and 4,126 bank accounts blocked, it’s clear that authorities are ramping up their efforts to combat these crimes.
Dr. Monica Juma from the UN emphasized the need for better countermeasures against criminals using AI and cryptocurrencies to hide their tracks. This operation is a strong reminder of the ongoing challenges in the crypto space, especially with the rising fraud cases.
For listeners who want low-fee crypto exposure, our markets partner Kraken supports Bitcoin — link in show notes.
Grayscale Names 3 Cryptocurrencies That Could Benefit From AI Growth
Grayscale's recent note highlights three cryptocurrencies poised to benefit from the AI boom: DATA Network (DATA), USD.AI (CHIP), and Pearl (PEARL). Each targets a unique niche within the AI infrastructure, but their price movements tell different stories.
DATA Network focuses on collecting and licensing training data for AI models. Despite a significant $30 million investment from the Sui Foundation, DATA has struggled, down 42.07% over the last 90 days, currently priced at $0.15243.
On the other hand, USD.AI is facilitating loans for expensive GPUs, with Bullish backing a $100 million financing facility. This has helped CHIP gain 47.98% over the same period, though it’s still about 69% off its April highs, sitting at $0.04386.
Pearl is the standout, leveraging GPU capacity for both AI and blockchain mining, which has led to a remarkable 528.24% increase over 90 days, now at $2.00. However, it has seen a slight pullback from its recent peak, and supply concerns loom with around 1.2 million new tokens expected daily.
Grayscale acknowledges the potential of these projects but emphasizes that their long-term success hinges on adoption and market dynamics. For listeners who want low-fee crypto exposure, our markets partner Kraken supports DATA — link in show notes.
Circle Gateway Adds Bitcoin And Euro Balances With cirBTC And EURC
Circle's Gateway service is now live with support for cirBTC and EURC, alongside USDC. This means developers can manage balances across three assets using a unified interface, making it easier to handle cross-chain transactions. However, the support for cirBTC is more limited compared to EURC, which is available on multiple networks like Arc, Avalanche, and Solana.
Each asset maintains its own balance, so depositing EURC doesn’t automatically fund a cirBTC withdrawal or convert euros to dollars. This distinction is crucial for businesses, especially those dealing with euro customers, as it allows them to streamline their operations without needing to hold multiple currencies in different places.
Circle claims that once a balance is established, cross-chain access can happen in under 500 milliseconds, but keep in mind that initial deposits will take longer to finalize. Also, while Circle is waiving Gateway fees for cirBTC and EURC on Arc at launch, developers should still evaluate the entire transaction path to understand costs associated with batch settlements and smart contract interactions.
For listeners who want low-fee crypto exposure, our markets partner Kraken supports BTC — link in show notes.
Bitcoin ETF Week Stays Positive After Nearly $774 Million In Late Outflows
Bitcoin funds saw a net inflow of $301.2 million this week, despite nearly $774 million in late withdrawals. Farside’s figures show that while early-week enthusiasm brought in over a billion dollars, Friday alone accounted for $137.9 million in outflows, primarily from BlackRock’s IBIT and Fidelity’s FBTC. Morgan Stanley’s MSBT managed a small inflow of $4.2 million.
On the Ether side, things weren’t as rosy, with a total outflow of $220.7 million for the week. A minor inflow of $4.4 million on Friday couldn’t offset the significant withdrawals earlier in the week.
The takeaway? Bitcoin demand appears more resilient compared to Ethereum, but the late-week reversal raises questions about sustained institutional interest. As we head into the next week, it’ll be interesting to see if new subscriptions can offset those recent losses.
For listeners who want low-fee crypto exposure, our markets partner Kraken supports Bitcoin — link in show notes.