Bitcoin ETF Interest Rises, Futures Lag

CRYPTO
Bitcoin ETF Interest Rises, Futures Lag

Demand for spot Bitcoin exchange-traded funds (ETFs) has surged to a six-month high, reaching levels not seen since April’s Bitcoin halving. According to Glassnode’s Oct. 23 market report, while interest in spot ETFs is rising, Bitcoin futures contract volumes remain “somewhat subdued,” averaging around $35 billion daily. This is a notable drop compared to the peak volumes of over $80 billion when Bitcoin hit its all-time high of $73,679 in March.

The report suggests that a “significant impulse” among futures traders is missing, possibly due to an increase in strategies focused on single-trade basis and arbitrage. This drop in futures trading volume could be constraining Bitcoin’s price movement.

On Oct. 25, CryptoQuant CEO Ki Young Ju highlighted that net inflows into spot Bitcoin ETFs totaled 65,962 BTC over the last 30 days, reflecting increased retail interest. Binance’s analysis confirmed this trend, indicating that retail investors account for nearly 80% of the total assets in spot BTC ETFs.

Since their launch in January, spot Bitcoin ETFs have accumulated $21.6 billion in inflows, demonstrating their growing appeal, particularly among non-institutional investors. This rising demand suggests confidence in Bitcoin’s long-term potential, despite muted futures trading activity.
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MICROSOFT
Nadella Requests Pay Cut, Gains

Despite requesting a pay reduction, Microsoft CEO Satya Nadella saw his total compensation increase by over $30 million, reaching $79 million in 2024. His base salary remained at $2.5 million, but most of his pay—nearly 96%—came from performance-based stock awards.

Nadella personally asked for his cash incentive to be slashed by more than half, acknowledging accountability after cybersecurity breaches affected the company. He forfeited over $5 million in cash bonuses, which could have totaled $10.6 million based on Microsoft’s strong financial and operational performance.

The board praised Nadella’s leadership amid growing cybersecurity threats, stating his efforts to prioritize and enhance Microsoft’s security practices. Microsoft’s proxy report repeatedly emphasized cybersecurity, demonstrating its importance to shareholders. Despite the cut in his cash bonus, Nadella’s stock awards and other performance-based metrics led to the substantial pay rise.
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TESLA
Musk Declares End of Driving

Elon Musk has made it clear: the era of human-driven cars is nearing its end. During Tesla’s third-quarter earnings call, Musk laid out his vision of a future dominated by fully autonomous electric vehicles. He announced that next-generation Teslas would feature no steering wheels or brake pedals, signaling a complete shift in the automotive industry.

“We’ve made very clear that the future is autonomous electric vehicles,” Musk said, comparing traditional cars to obsolete technologies like flip phones. He emphasized that non-autonomous gasoline vehicles will soon be a rarity, much like horses are today.

Tesla recently introduced its autonomous robotaxi, the Cybercab, and a larger Robovan, which were unveiled on a closed course. Despite some criticism from analysts, Musk confirmed that these vehicles are already being tested on San Francisco streets.

Musk took aim at competitors like Waymo, highlighting Tesla’s significant production scale: “We’re currently making on the order of 35,000 autonomous vehicles a week,” he said, contrasting this with Waymo’s fleet of fewer than 1,000 cars.

Musk’s bold vision comes with a promise that future Tesla models will all be capable of Full Self-Driving (FSD). He dismissed the idea of launching a low-cost, non-autonomous $25,000 EV, saying, “It would be silly. Like, completely at odds with what we believe.”
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WARREN BUFFETT
Buffett Warns Against Fake Endorsements

Warren Buffett is concerned about impersonators using his name to endorse investments or political candidates on social media. In response, Berkshire Hathaway issued a statement on its website, clarifying: “Mr. Buffett does not currently and will not prospectively endorse investment products or political candidates.”

Buffett emphasized his worries in an interview, warning people not to trust anyone claiming he’s advising on investments or voting. This comes amid a politically charged atmosphere, with big names divided, and growing fears of deep fakes. Buffett stressed, “Anything they see with my image or my voice, it just ain’t me.”
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Meme of the day

Word of the day
Empyrean

Use the word empyrean when you're talking about the heavens or the sky. You might describe the empyrean curve of the night sky, scattered with stars, particularly if you wanted to sound poetic.

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