Crypto News Round-Up — November 2025

Recent headlines show crypto increasingly in the mainstream spotlight, with central banks testing digital assets, new crypto ETFs hitting markets, and the latest security incidents. The items below highlight the policies, products and risks shaping the crypto landscape right now.

• Czech Central Bank Tests Bitcoin Investment
• 21Shares Launches U.S. Crypto Index ETFs
• Grayscale Reports Revenue Drop as IPO Plans Unfold
• China Accuses U.S. of $13B Bitcoin Hack
• October Crypto Hacks Plummet
• Franklin Templeton Files Solana Staking ETF

Czech Central Bank Tests Bitcoin Investment

The Czech National Bank announced it has purchased about $1 million worth of Bitcoin and other crypto assets as a dry run to learn how digital assets work. The small pilot portfolio – mostly Bitcoin plus some U.S. dollar stablecoins and a tokenized deposit – was bought via a regulated exchange for testing only, separate from official reserves. The move is explicitly labeled an experiment to help the central bank practice digital-key management, security and compliance processes for crypto (Reuters). Bank governor Ale\u0161 Michl said the project is meant to prepare for future digital payments and investments, though the pilot’s holdings won’t be expanded into reserves under current policy (Reuters).

• The experiment signals central banks are taking crypto seriously, which could help legitimize digital assets.
• Building internal expertise on blockchain asset handling may pave the way for future digital currency initiatives.
• Officials emphasized this is a limited test, highlighting ongoing regulatory caution around mature reserve use.

21Shares Launches U.S. Crypto Index ETFs

Swiss digital asset manager 21Shares announced the launch of its first U.S.-listed crypto exchange-traded funds (ETFs) tracking diversified baskets of coins (Reuters). The new ETFs – the “FTSE Crypto 10 Index ETF” and the “FTSE Crypto 10 ex-BTC Index ETF” – hold a range of cryptocurrencies including Ethereum, Solana and Dogecoin. Notably, these funds are structured under the Investment Company Act of 1940 (the “’40 Act”), a regulatory framework favored by professional investors for its rigorous oversight. The two ETFs (ticker symbols TTOP.P and TXBC.P) carry fees of 0.5% and 0.65%, respectively (Reuters).

• The diversified index funds give investors broad crypto exposure beyond single coins like Bitcoin, which may attract institutional capital.
• Listing under the ’40 Act reflects growing acceptance of crypto instruments by U.S. regulators and tax authorities.
• The launch intensifies competition among asset managers racing to offer new crypto funds, signaling heightened investor demand.

Grayscale Reports Revenue Drop as IPO Plans Unfold

Grayscale Investments – a major crypto asset manager – revealed a 20% drop in revenue in its U.S. IPO filing (Reuters). For the first nine months of 2025 the firm reported $318.7 million in revenue (down from $397.9M a year earlier) and net income of $203.3M. Grayscale attributed the decline to outflows and lower management fees amid recent market turbulence. The IPO filing comes just as the U.S. government shutdown ended, allowing the SEC to resume reviewing filings. The document confirms Grayscale plans to list on the New York Stock Exchange under ticker “GRAY” (www.reuters.com). Lead banks on the deal include Morgan Stanley, BofA Securities, Jefferies and Cantor Fitzgerald (Reuters).

• As a major crypto fund manager (over $35B assets), Grayscale’s performance is seen as a bellwether for institutional sentiment.
• Going public reflects growing confidence in crypto under a more crypto-friendly U.S. regulatory environment (a shift begun by a Grayscale win over the SEC in 2023).
• The timing after the shutdown shows how regulatory dynamics can squeeze crypto market developments like IPOs.

China Accuses U.S. of $13B Bitcoin Hack

China’s cybersecurity agency publicly accused U.S. authorities of “stealing” about $13 billion worth of Bitcoin in an alleged 2020 cyberattack on Chinese mining firm LuBian. Beijing’s National Computer Virus Emergency Response Center (CVERC) said U.S. prosecutors later seized 127,272 BTC (valued at over $13B) from a wallet controlled by Chen Zhi, owner of Cambodia-based Prince Group, who was indicted in 2020 on fraud charges (Tom’s Hardware). Chinese officials claim this was the result of a state-sponsored hacker operation, not a routine criminal hack. They point out the Bitcoin remained untouched for years and only moved in 2024 after Chen’s indictment (www.tomshardware.com), suggesting the U.S. action was coordinated rather than incidental. The U.S. maintains it lawfully seized stolen assets.

• The dispute highlights how large-scale crypto thefts can become geopolitical flashpoints between rival governments.
• It underscores that even massive crypto holdings are vulnerable to seizure by national authorities under criminal and diplomatic circumstances.
• The case illustrates the cross-border challenges of enforcing crypto laws, as funds can be moved globally and claimed by different jurisdictions.

October Crypto Hacks Plummet

Security researchers report a rare decline in crypto exploit losses. According to blockchain analytics firm PeckShield, just $18.18 million was stolen in October 2025 across all hack incidents, down 85.7% from $127.06M in September (Yahoo Finance). Last month’s largest single-theft was about $10 million, when a Bitcoin-based peer-to-peer protocol called Garden Finance was drained by exploiting one of its smart contract components. Other notable exploits in October included a $3.4M oracle-manipulation attack on Typus Finance (a Sui-based yield platform) and roughly $1.8M stolen from DeFi lender Abracadabra via a contract flaw (Yahoo Finance) (finance.yahoo.com). Overall, investigators say improved awareness and fewer new vulnerabilities helped bring October losses to a 2025 low, although they caution that DeFi protocols remain targets that require ongoing vigilance.

• The steep drop in monthly losses is positive, suggesting security measures are helping reduce total exploit damage.
• The largest losses were still concentrated in a few decentralized finance (DeFi) projects, indicating targeted risk areas.
• The trend may boost investor confidence temporarily, but experts warn new hacks could arise if smart contract flaws go unchecked.

Franklin Templeton Files Solana Staking ETF

Franklin Templeton has filed with the U.S. SEC to launch a spot Solana exchange-traded fund that would include a staking feature (Bitazza). This proposed ETF would allow investors to hold Solana tokens while earning the network’s staking rewards within the fund. The move follows a similar filing by Franklin for an Ethereum staking ETF and reflects demand for crypto funds that offer DeFi-style yield. Analysts cited by the report believe U.S. regulators may soon approve staking capabilities in ETFs (blogth.bitazza.com). If approved, the Solana ETF would mark another step toward mainstream adoption of altcoin-based financial products.

• Adding a staking feature bridges traditional funds with decentralized finance, making crypto investments more attractive to institutional investors.
• A Solana ETF indicates that major asset managers see growing interest in cryptocurrencies beyond Bitcoin.
• The evolution suggests regulators are gradually accommodating more complex crypto investment vehicles, potentially expanding market depth.

Cryptocurrency markets are highly volatile and the above news should not be taken as investment advice. Always do your own research (DYOR) before considering any crypto investment. Historical performance and announcements do not guarantee future results, and regulatory or security developments can change markets rapidly.

Bottom Line

This round-up shows traditional institutions and regulators further engaging with crypto – from a national bank’s pilot purchase of Bitcoin to major financial firms launching innovative crypto products. At the same time, security and volatility remain top concerns, as seen in the continuing impact of hacks and the volatility of crypto revenues. Investors should weigh these developments in context: regulatory and product innovations could signal greater adoption, but crypto markets still carry high risk. The evolving landscape underlines the importance of staying informed and cautious when navigating crypto assets.