Crypto
Bitcoin Holds Its Long Line While Wall Street Tokens and Treasury Buyers Rewrite the Playbook
Bitcoin spent election day holding a long watched line, and the most telling story sat underneath the price. The coin traded near 76,900 dollars after touching near 76,300 dollars in the European morning, according to CoinDesk, while ether added about 0.6 percent and a broad decentralized finance index added about 0.5 percent. Options tied to the vote priced a lively week around the polls, tech earnings, and the jobs report due Friday, while different kinds of buyers acted on different time horizons at the same price.
The split showed up clearest in fund flows. United States spot bitcoin funds recorded about 399 million dollars in redemptions on Monday, their second straight day of redemptions, according to CoinDesk, with BlackRock IBIT accounting for about 405 million dollars of that total, partly offset by inflows elsewhere. A second tally put October 30 redemptions near 643 million dollars, the largest single day total since June, leaving 2026 net inflow roughly flat. Fund holders redeem when sentiment turns. Treasury buyers told a longer story at the same moment.
Strategy bought 811 bitcoin for about 65.5 million dollars between October 26 and November 1, at an average price of about 80,846 dollars per coin, according to its filing summarized by CoinJuice. That lifted total holdings to 849,327 bitcoin at an average cost of about 75,451 dollars. Strive added 124 bitcoin for about 10 million dollars between October 24 and October 30, at an average price of about 80,526 dollars, lifting its holdings to 43,124 bitcoin. Boards that buy above the market price are making a statement about years ahead, filed in public for every reader to check.
The Binance episode added a practical lesson in self custody to the same day. Customers withdrew a net 4.72 billion dollars after withdrawals reopened on Sunday, up from 3.64 billion dollars on the first day, according to CoinDesk. Binance said customer holdings would stay covered through its Secure Asset Fund for Users and corporate reserves, and the withdrawal wave showed holders exercising the core crypto skill of moving coins to wallets they control.
While the market digested those flows, Wall Street kept building the rails that make the next cycle easier to join. The Depository Trust and Clearing Corporation launched its Tokenization Service on October 28, with 20 firms signed up at launch including JPMorgan, Citi, Morgan Stanley, Bank of America, Fidelity, and Citadel Securities, according to The Defiant. The service starts with 34 securities spanning large cap stocks, index funds, and United States Treasuries, backed one for one by securities held at the Depository Trust Company, running on the Canton Network and DTCC private Besu network. Societe Generale Prime Services and Clearing accepted 10 million dollars in tokenized United States Treasuries as eligible collateral on Canton on November 2, showing tokenized Treasuries moving through existing back office systems.
Ripple added a second institutional brick in the same stretch. The Office of the Comptroller of the Currency gave final approval to Ripple National Trust Bank on October 26, ten months after conditional approval, according to The Defiant, with the bank set to manage the segregated reserves behind the RLUSD stablecoin, act as collateral trustee for RLUSD holders, and offer fiduciary custody of digital assets. RLUSD expanded to new venues during the same week and grew toward 2.6 billion dollars in supply, giving the stablecoin a federally chartered home for its reserves. A chartered bank behind stablecoin reserves, a tokenization service with 20 launch firms, and a collateral desk accepting tokenized Treasuries together describe a market growing up in public.
Ethereum supplied the long horizon story of the day. Ethereum Foundation researcher Justin Drake outlined a December 2028 goal for completing the full post quantum transition at the Devcon 8 opening ceremony, according to CryptoNews, advancing a faster timetable than the published 2029 protocol upgrade target. The work spans validator signatures, data availability, and account authentication, with leanVM aggregating verification so larger post quantum signatures stay practical. Developers also kept Glamsterdam on a careful path, pausing a Hoodi testnet activation while researchers studied how proposed gas accounting changes interact with existing contracts. A network that plans a decade ahead for quantum computing, and that tests new rules until they behave exactly as intended, is building for holders who measure in years.
For readers, the day reads as a sorting process with a clear payoff. Short term holders redeemed fund shares, treasury boards bought above the price, self custodians moved coins into their own control, and institutions shipped tokenized collateral and chartered stablecoin infrastructure in the same week. Bitcoin near 76,900 dollars sits just above a rising 200 day average near 76,450 dollars, with fund flows showing sentiment, treasury filings showing conviction, and token rails showing adoption. Sound money keeps proving its case in layers, from a holder moving coins to a personal wallet, to a bank accepting a tokenized Treasury as collateral, to a network planning its defenses for 2028 and beyond.
Quick answers
What is this story about?
Bitcoin spent election day holding a long watched line, and the most telling story sat underneath the price. The coin traded near 76,900 dollars after touching near 76,300 dollars in the European morning, according to CoinDesk, while ether added about 0.6 percent and a broad decentralized finance index added about 0.5 percent. Options tied to the vote priced a lively week around the polls, tech earnings, and the jobs report due Friday, while different kinds of buyers acted on different time horizons at the same price.
Why does this story matter?
For readers, the day reads as a sorting process with a clear payoff. Short term holders redeemed fund shares, treasury boards bought above the price, self custodians moved coins into their own control, and institutions shipped tokenized collateral and chartered stablecoin infrastructure in the same week. Bitcoin near 76,900 dollars sits just above a rising 200 day average near 76,450 dollars, with fund flows showing sentiment, treasury filings showing conviction, and token rails showing adoption. Sound money keeps proving its case in layers, from a holder moving coins to a personal wallet, to a bank accepting a tokenized Treasury as collateral, to a network planning its defenses for 2028 and beyond.
Sources
New to crypto? Read the crypto glossary, browse frequent questions, read our story, or explore the story archive.