StablecoinX will lose the lockup protections covering roughly 3.03 billion ENA tokens it holds or may be required to deliver on Oct. 5, potentially placing about one-fifth of Ethena’s total token supply under a new set of transfer rules. The change, disclosed in U.S. Securities and Exchange Commission filings, removes vesting, unlock and 48-month contractual lockup restrictions tied to ENA acquired through a private investment in public equity, or PIPE.
The waiver does not give StablecoinX unrestricted access to sell the tokens on public markets. Under the agreement with Ethena OpCo and the Ethena Foundation, any sale, transfer or disposal requires the foundation’s prior written approval. Sales intended for working capital or strategic purposes also require at least five business days’ written notice, while the foundation retains a right of first purchase at the proposed price.
That structure leaves ENA traders facing a more nuanced supply event than a standard token unlock. A large holder will no longer be bound by its original lockup, but Ethena retains contractual tools to supervise any disposal and potentially purchase tokens itself. The filing does not state that StablecoinX intends to sell ENA after the waiver takes effect.
Ai compute futures move closer to regulatory review
The U.S. Commodity Futures Trading Commission is preparing to seek public feedback on futures contracts linked to hashrate and computing power after sending an information-collection request to the White House Office of Management and Budget for review. Such requests generally precede a public comment period lasting 30 or 60 days.
The effort comes as financial markets explore ways to price data-center capacity as demand for artificial intelligence infrastructure expands. Estimates cited in the schedule put AI infrastructure expenditure at roughly 2% to 2.5% of U.S. gross domestic product this year, although estimates vary with the definition of AI-related spending.
CME Group plans to introduce two compute-power futures contracts on Oct. 5, subject to regulatory approval. Intercontinental Exchange is pursuing comparable products, using benchmark data from Silicon Data for pricing. Futures would give companies that buy large volumes of computing capacity a potential hedge against changes in the cost of specialized hardware and cloud resources, while allowing traders to take positions on the market price of compute.
The CFTC’s work on hashrate-related contracts also extends an agency traditionally associated with agricultural, energy and financial futures into markets shaped by digital infrastructure. The regulatory process will determine how the contracts are defined, what data supports settlement prices and which firms may participate.
Ethereum tests Glamsterdam upgrade on Sepolia
Ethereum developers are scheduled to activate the Glamsterdam upgrade on the Sepolia testnet on Oct. 6 at epoch 353,024 and slot 11,296,768. The Ethereum Foundation listed the activation at 21:53:36 Beijing time.
Glamsterdam combines proposed execution-layer changes known as Amsterdam with consensus-layer work called Gloas. Its features include an in-protocol proposer-builder separation design, block-level access lists and changes to gas pricing.
Proposer-builder separation is a mechanism intended to separate the task of proposing a block from assembling its transactions. Supporters argue that embedding parts of this arrangement into Ethereum’s protocol could reduce reliance on external block-building systems. Sepolia’s activation will offer developers and node operators an early test of how the changes work together under live testnet conditions.
No mainnet activation date has been set, and the Hoodi testnet schedule has also not been finalized. Ethereum node operators need to update their execution-layer and consensus-layer software before the Sepolia fork. Regular ETH holders and mainnet users are not expected to take action.
ETHA share consolidation takes effect Oct. 6
BlackRock’s spot Ethereum exchange-traded fund, ETHA, is scheduled to undergo a one-for-three reverse share split on Oct. 6. Every three existing shares will be combined into one share, while the value of each holder’s total position and the fund’s net assets remain unchanged by the mechanical adjustment.
Eric Balchunas, senior ETF analyst at Bloomberg, said the split could reduce trading costs from roughly seven basis points to about two basis points. ETHA was trading near $14 when that assessment was published, after declining around 40% year to date, and had more than $5 billion in assets under management.
Reverse splits are generally used to raise a fund’s per-share price rather than alter its economic exposure. Brokerage platforms normally adjust share counts automatically, though holders may see fractional-share handling vary according to their broker’s policies.
Network operations and testnet resets
Aptos plans to reset its testnet on Oct. 7, creating a new genesis block and deleting deployed contracts, test accounts, balances and historical chain data. Applications operating on the testnet will need to redeploy after the reset.
The network said the testnet has processed more than 10 billion transactions. The reset follows AIP-147, a proposal designed to limit storage growth through periodic state resets. The operation concerns the Aptos test environment rather than its production chain, but it places practical demands on development teams that use the network for pre-release testing.
Zcash is also scheduled to activate its NU7 upgrade on a testnet on Oct. 6. The development team plans to assess testnet performance on Oct. 20 before selecting a final mainnet activation block height and deployment plan.
MetaMask Staking has begun withdrawing Ethereum validator operations it ran through Lido after an investigation into an infrastructure intrusion. Lido monitoring data indicated that the exit process was expected to conclude no later than Oct. 7, although withdrawals had not all completed at the time of the update. stETH holders were told no action was required.
Central-bank records arrive as markets assess policy direction
The Federal Reserve will publish minutes from its September monetary policy meeting on Oct. 8 at 02:00 Beijing time. The European Central Bank is due to release minutes from its own September meeting at 19:30 Beijing time.
Minutes do not set fresh policy rates, but they can reveal the range of views among policymakers and the economic assumptions behind their prior decisions. Crypto markets often react to shifts in expected interest rates because those expectations influence borrowing costs, dollar liquidity and appetite for higher-volatility assets.
Bitcoin Core 32.0 is also targeted for release on Oct. 10 following release-candidate testing. The planned update is designed to accelerate block verification through parallel database reads, without increasing Bitcoin’s block-production rate. It also changes the default format for four wallet commands to a newer partially signed transaction standard while retaining the older option.
The week’s schedule combines a potentially large ENA supply change with infrastructure tests, fund mechanics and macroeconomic disclosures. Each event affects a different layer of the market, from token ownership and validator operations to the cost of capital and the tools used to run major blockchain networks.
Understand ENA unlock risks and tokenomics shifts in detail with our in-depth tokenomics guide before October’s major supply events.
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