Stakes / What matters today
- Rule clocks. CFTC crypto ANPRM (FR Doc. 2026-20888) publishes today; comments close Dec. 14. SEC MEMX notice (FR Doc. 2026-20801) sets a Nov. 25 decision date. The Oct. 9 event-contract NPRM and casino IFR are not on the latest public-inspection list, so their 30-day clocks have not started. [11][12][14]
- Asia selloff. Kospi closed at 6,035.35 (−5.46%); Nikkei 225 at 67,777.52 (−1.82%). NQ=F −0.48% vs Monday's session close at 6:25 a.m. ET; ES=F nearly flat. [3]
- Ether ETF streak. Monday Farside Total: spot ether ETFs −$85.4 million (10th consecutive outflow session, Sep. 29–Oct. 12); spot bitcoin ETFs −$65.4 million, all IBIT. [7][8]
- Majors split; funding flat. BTC +0.56%, ETH −1.05%, SOL −1.82% since Monday 4:00 p.m. ET (Coinbase). OKX funding near flat. Stablecoin float ~$311.1B (DefiLlama, 6:25 a.m. ET). [1][9][15]
- Evernorth on EDGAR. 8-K at 6:01 a.m. ET Tuesday names Hugo Jeandesboz CIO; Delayed Funding Class A corrected to 1,078,613. [13]
Overnight crypto
Coinbase, Monday Oct. 12 4:00 p.m. ET to ~6:42 a.m. ET Tuesday (equity/ETF open Monday; bonds closed). [1]
- BTC-USD $83,245.04 at 6:42 a.m. ET, +0.56% from $82,784.08. [1]
- ETH-USD $2,492.90 at 6:42 a.m. ET, −1.05% from $2,519.43. [1]
- SOL-USD $106.26 at 6:42 a.m. ET, −1.82% from $108.23. [1]
Top five Coinbase USD movers (|%| ≥ ~3% vs Monday close), 28-pair liquid screen [2]:
| Coin | Last (ET) | Since Mon close |
|---|---|---|
| TIA | $0.6273 · 6:42 a.m. ET | +14.10% |
| NEAR | $5.1114 · 6:42 a.m. ET | −6.44% |
| SEI | $0.06274 · 6:41 a.m. ET | −4.97% |
| ALGO | $0.1169 · 6:42 a.m. ET | −4.96% |
| FET | $0.21292 · 6:42 a.m. ET | −4.75% |
TradFi backdrop
ES=F 7,862.50 (+0.06% vs Monday 7,858.00); NQ=F 30,749.25 (−0.48% vs 30,898.25) at 6:25 a.m. ET. [3] Kospi 6,035.35 (−5.46%); Nikkei 67,777.52 (−1.82%). [3] Early Europe mild (DAX +0.51%, FTSE 100 +0.75%; Yahoo, pulled 6:25 a.m. ET). [3] Cash Treasury yields are Friday Oct. 9 closes (bond market closed Monday): 2-year 4.80% (+5 bp), 10-year 5.24% (+2 bp). [4] Fed Governor Waller was scheduled to speak at 4:30 a.m. ET (Economic Outlook, TCMB İstanbul); Fed statistical releases shift to today from Columbus Day. [5]
Macro calendar
No BLS or BEA release today. Fed statistical catch-up. Treasury bill announcements and auctions on the tentative schedule. Waller was scheduled for 4:30 a.m. ET. [5][6][16]
What printed
01 · CFTC crypto ANPRM publishes; Dec. 14 comment clock is live. FR Doc. 2026-20888 (RIN 3038-AF80) is in today's Federal Register; comments due on or before Dec. 14, 2026. Fit-for-purpose rules under CEA section 2(c)(2)(D) for leveraged or margined retail crypto commodity transactions; Parts 1, 38 and 39 in scope. [11]
02 · SEC locks Nov. 25 for MEMX securities event contracts. FR Doc. 2026-20801 (SR-MEMX-2026-25) designates Nov. 25, 2026 as the date by which the Commission must approve, disapprove, or institute proceedings on the MEMX listing proposal. [12]
03 · Evernorth files the EDGAR 8-K for Monday's CIO hire and share-count fix. Accepted 6:01 a.m. ET Tuesday (accession 0001193125-26-419605). Names Hugo Jeandesboz (ex–Coinbase Asset Management Co-CIO) as CIO; corrects Delayed Funding Subscribers to 1,078,613 Class A (Class A outstanding 23,638,882; Class C 31,392,746). [13]
04 · Event-contract swap NPRM and casino IFR are not yet on public inspection. Neither appears on the latest Federal Register public-inspection list (filed Oct. 9); the next list posts at 8:45 a.m. ET today. Their 30-day clocks have not started. [14]
ETF / flow line
Monday Oct. 12 (Farside) [7][8]:
| Product set | Net flow (US$m) | Detail |
|---|---|---|
| U.S. spot Bitcoin ETFs | −65.4 | IBIT −65.4; others 0.0 |
| U.S. spot Ether ETFs | −85.4 | ETHA −75.1; ETH −10.3; others 0.0 |
Perps / funding
OKX USDT swaps, ~6:25 a.m. ET. [9]
| BTC-USDT-SWAP | ETH-USDT-SWAP | |
|---|---|---|
| Current funding | +0.002873% | −0.000752% |
| Last settled (4:00 a.m. ET) | +0.003955% | +0.002738% |
| Next funding | 12:00 p.m. ET | same |
| Premium (OKX) | ~−4.6 bp | ~−5.1 bp |
Near flat. OKX liquidations since Monday 4:00 p.m. ET: BTC ~$23.8m; ETH ~$26.7m (longs > shorts); venue sample. [10]
Digital-asset equities
Monday Oct. 12 cash close vs Friday. [3]
| Ticker | Mon close | vs Fri | |
|---|---|---|---|
| COIN | $180.39 | +0.56% | Up |
| MSTR | $152.68 | −1.08% | Soft |
| MARA | $9.44 | −2.18% | Soft |
| RIOT | $16.47 | −2.46% | Soft |
| CLSK | $10.30 | −1.86% | Soft |
| HUT | $85.24 | +1.15% | Bid |
| GLXY | $19.87 | −2.26% | Soft |
Chart of the day
Spot ether ETFs: 10 straight outflow sessions; Monday −$85.4 million. After +$17.1 million on Sep. 28, Farside Total shows outflows every U.S. session from Sep. 29 through Oct. 12; largest day Oct. 6 (−$201.9 million). [8] So what: the streak is the flow story into Wednesday's CPI, not a price call. [8]
Fig. 1. Farside Investors, Ethereum ETF Flow, Total column. Accessed Oct. 13, 2026, ~6:25 a.m. ET. [8]
On the calendar
All times ET.
| When | What |
|---|---|
| Tue Oct. 13 | Fed statistical catch-up; Treasury bills on tentative schedule; Waller scheduled 4:30 a.m. ET. [5][16] |
| Wed Oct. 14 · 8:30 a.m. ET / 2:00 p.m. ET | CPI + Real Earnings; Beige Book. [6][5] |
| Thu Oct. 15 · 8:30 a.m. ET | PPI (Sep). [6] |
| Oct. 27–28 | FOMC. [5] |
| Wed Oct. 28 · 10:00 a.m. ET | Strategy special meeting (STRF/STRC/STRK/STRD daily dividends). [17] |
| Wed Nov. 25 | SEC deadline, MEMX securities event contracts. [12] |
| Mon Dec. 7 / Dec. 14 | Comments close: SEC crypto custody; CFTC crypto ANPRM. [18][11] |
Sources (18)
- Coinbase Exchange, BTC-USD, ETH-USD and SOL-USD tickers and one-minute candles (Monday Oct. 12 4:00 p.m. ET candle). Accessed Oct. 13, 2026, 6:42 a.m. ET.
- Coinbase Exchange, liquid USD movers screen, 28 pairs. Accessed Oct. 13, 2026, 6:42 a.m. ET.
- Yahoo Finance chart API, ES=F, NQ=F, ^KS11, ^N225, ^HSI, ^GDAXI, ^STOXX50E, ^FTSE, COIN, MSTR, MARA, RIOT, CLSK, HUT, GLXY. Accessed Oct. 13, 2026, 6:25 a.m. ET.
- U.S. Treasury, Daily Treasury Par Yield Curve Rates, Friday Oct. 9, 2026 close (bond market closed Monday). Accessed Oct. 13, 2026, 6:25 a.m. ET.
- Federal Reserve Board, calendar, October 2026. Accessed Oct. 13, 2026, ~6:26 a.m. ET.
- BLS, Schedule of Selected Releases, October 2026. Accessed Oct. 13, 2026, ~6:26 a.m. ET.
- Farside Investors, Bitcoin ETF Flow, Monday Oct. 12 session. Accessed Oct. 13, 2026, ~6:25 a.m. ET.
- Farside Investors, Ethereum ETF Flow, Monday Oct. 12 (10th consecutive outflow day, Sep. 29 to Oct. 12). Fig. 1: daily Total column, US$ millions. Accessed Oct. 13, 2026, ~6:25 a.m. ET.
- OKX public API, BTC-USDT-SWAP and ETH-USDT-SWAP funding-rate, funding-rate-history, mark-price and index. Accessed Oct. 13, 2026, 6:25 to 6:26 a.m. ET.
- OKX public API, liquidation-orders, BTC-USDT and ETH-USDT perpetual swaps since Monday 4:00 p.m. ET. Accessed Oct. 13, 2026, 6:25 to 6:26 a.m. ET.
- Federal Register, FR Doc. 2026-20888, publication Oct. 13, 2026; comments close Dec. 14, 2026. Accessed Oct. 13, 2026, ~6:25 a.m. ET.
- Federal Register, FR Doc. 2026-20801, MEMX LLC (SR-MEMX-2026-25); Nov. 25, 2026 decision date. Accessed Oct. 13, 2026, ~6:25 a.m. ET.
- Evernorth Holdings Inc., Form 8-K, accession 0001193125-26-419605, accepted 6:01 a.m. ET Oct. 13, 2026. Accessed Oct. 13, 2026, ~6:30 a.m. ET.
- Federal Register Public Inspection current list and CFTC-filtered API. Accessed Oct. 13, 2026, ~6:25 a.m. ET.
- DefiLlama Stablecoins, all-chain total circulating (peggedUSD). Accessed Oct. 13, 2026, 6:25 a.m. ET.
- U.S. Treasury, Tentative Auction Schedule of U.S. Treasury Securities (PDF). Accessed Oct. 13, 2026, ~6:27 a.m. ET.
- Strategy Inc, DEF 14A, accession 0001193125-26-413159, filed Oct. 5, 2026. Accessed Oct. 13, 2026, ~6:25 a.m. ET.
- Federal Register, FR Doc. 2026-20466, crypto custody proposal; comments close Dec. 7, 2026. Accessed Oct. 13, 2026, ~6:25 a.m. ET.
Holding the Corner.
Not financial advice.