The CEO of Bitwise stated that investors bought during the NEAR correction, resulting in a net inflow of approximately $9 million into the Bitwise NEAR ETF NRR on the third day.

The US Securities and Exchange Commission (SEC) proposes to establish a new regulatory framework to regulate the custody of cryptocurrency assets by investment advisors and regulated funds. SEC Chairman Paul Atkins stated that the cryptocurrency market has developed into a trillion dollar asset class, and existing rules and regulations have failed to keep up with the development. This proposal allows for self custody in specific circumstances and allows state-level trust companies to provide custody services for clients and regulated funds. SEC Commissioner Hester Peirce clarified that self custody refers to investment advisors acting as custodians of client assets. (Source: US Securities and Exchange Commission)

The Chairman of the US Securities and Exchange Commission, Atkins, stated that the cryptocurrency market has evolved from a "niche curiosity" to a trillion dollar asset class. （Watcher.Guru）

SEC Chairman Atkins stated on October 1st that since the birth of Bitcoin in 2008, the rules have not kept pace and issued a proposal to revise custody rules for the Investment Advisor Act and the Investment Company Act: registered investment advisors and regulated funds can allow clients to self manage cryptocurrency assets under specific conditions, and state chartered trust companies can also serve as qualified custodians; The proposal will be open for public consultation for 60 days after being published in the Federal Register. (Source: BeInCrypto)

On October 2nd, Michelle Bauman, the Vice Chairman of the Federal Reserve responsible for regulatory affairs, stated that there is currently no urgency to take action. Federal Reserve officials should take the time to understand the current economic trends and the impact of the September interest rate hike on the economy before deciding whether to adjust policies. Inflation remains above target and requires a better understanding of trends.