European investors watching the crypto ETF market saw a divergence this week. Bitcoin Spot ETFs, including products from BlackRock and Fidelity, recorded net outflows of 463 million US dollars over four trading days. XRP Spot ETFs moved in the opposite direction, pulling in 19 million US dollars over the same period.
The figures point to a shift in short-term positioning among ETF investors, even as Bitcoin remains the dominant asset by far in terms of overall holdings and wealth concentration, according to a separate industry report published this week.
Blockstream pursues Liquid Network attackers
Blockstream, the company led by Adam Back, is taking legal action following an attack on its Liquid Network sidechain. Roughly 4,000 BTC was originally stolen in the incident. The attackers have since returned about 3,400 BTC, retaining approximately 600 BTC as a demanded reward.
Blockstream said it is cooperating with law enforcement, exchanges and forensic specialists to track down the remaining funds and has announced legal proceedings against those responsible.
Bitwise closes Dogecoin ETF
Bitwise is shutting down its Dogecoin ETF, ticker BWOW, with the last trading day on the NYSE expected to be October 14. The fund launched in November 2025. Total trading volume across the Dogecoin ETF market has reached approximately 300 million US dollars, but that has not been enough to sustain Bitwise's product.
Berlin eyes flat tax on crypto gains from 2028
German Finance Minister Lars Klingbeil, of the SPD, is working on a reform that would introduce a flat 25 percent capital gains tax, the Abgeltungsteuer, on crypto profits starting in 2028. Under current German rules, gains on crypto held for more than a year are tax-free. Various reports point to January 1, 2027 as a possible cutoff date, after which existing holdings might still fall under the current holding-period rule.
The Bundesfinanzministerium confirmed to BTC-ECHO that it is working on a fundamental reform of crypto taxation, though details of the final legislation have not been settled. For German holders who have relied on the tax-free treatment of long-held coins, the proposal marks a significant potential change to the investment calculus.
Crypto wealth remains concentrated in Bitcoin
The Crypto Wealth Report 2026, published by Henley & Partners, counted 135,694 people worldwide holding digital assets worth at least 1 million US dollars. Of those, 92,272 owe their wealth primarily to Bitcoin. The report also identified 290 individuals holding more than 100 million US dollars in digital assets, and 23 crypto billionaires globally.
The figures underline that, despite the week's ETF flows favouring XRP, Bitcoin continues to account for the bulk of large-scale crypto wealth accumulation worldwide.
