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On September 24, Zach Pandl, the research director of the cryptocurrency asset management company Grayscale, published an article in the column The Stack stating that in the wave of artificial intelligence, the demand and supply paths for the computing power required to train, run, and operate models are diverging. Grayscale believes that this imbalance favors owners of already powered and operational computing capacity and brings growth-oriented investment opportunities.Zach Pandl stated that digital demand can expand instantly, but physical infrastructure such as electricity, data centers, chips, memory, and cloud services takes years to approve, access, and build. When artificial intelligence agents perform multi-step tasks, they may consume 5 to 50 times more compute tokens than typical chatbot interactions, and increased application layer activity will transmit to the underlying computing infrastructure.The article cites data from the International Energy Agency and Lawrence Berkeley National Laboratory, stating that data centers are expected to account for about half of the growth in electricity demand in the United States by 2030, and new projects may take more than five years to connect to the grid. Even if electricity is secured, permits, specialized labor, electrical equipment, cooling systems, GPUs, high-bandwidth memory, and networks are still needed. Continuous value will flow to power producers, data center operators, and artificial intelligence cloud service providers that can convert electricity into computation.

According to Bitcoin.com, Grayscale's Zcash ETF (ZCSH) has reached a net asset size of 1 billion dollars, with a cumulative net inflow of 306.12 million dollars, accounting for less than 30%. The fund began trading on NYSE Arca on August 25, and its size exceeded 500 million dollars within two weeks.ZCSH was renamed from Grayscale Zcash Trust, which was established in October 2017 and already held ZEC at the time of listing; meanwhile, the price of ZEC has roughly doubled since the ETF's listing, driving the growth of the fund's asset size. Grayscale's parent group DCG International Investments exchanged approximately 100 million dollars worth of ZCSH shares for 85,705.32563297 ZEC, and after excluding this non-cash transaction, the external new funds amount to about 200 million dollars.Grayscale will implement a 3-for-1 forward split before the market opens on September 30, and holders registered as of the market close on September 28 will be subject to this arrangement. After the split, the net asset value per share is expected to drop to about one-third, the number of shares will increase threefold, and the dollar value of the holdings will remain unchanged.

According to Catcher Predict monitoring, in the market prediction event "Tampa Bay Rays vs. New York Yankees" on Polymarket, the "Tampa Bay Rays" option in the sub-market "Tampa Bay Rays vs. New York Yankees" has experienced a dramatic fluctuation in winning probability, soaring from 41.5% an hour ago to the current 89% (a fluctuation of 47.5%). Please note the impact of related breaking news.

Grayscale's research director Zach Pandl pointed out that the recent "Innovation Exemption" directive issued by the U.S. Securities and Exchange Commission (SEC) is expected to fundamentally change the previous landscape where tokenized U.S. stocks primarily relied on offshore "packaged derivatives" trading, promoting the inclusion of real tokenized stocks with complete shareholder voting rights and dividend rights into the regulated financial system of the United States.This exemption order is valid for 5 years and specifically relaxes two core registration requirements: qualified tokenized trading venues do not need to register as traditional stock exchanges; qualified liquidity providers do not need to register as broker-dealers.Grayscale believes that this marks a significant step as on-chain trading infrastructure is proving to be fully compatible with regulatory compliance and investor protection, and it is expected to drive Congress to advance a broader bipartisan legislative process in the future.

According to Catcher Predict monitoring, in the market prediction event "Tampa Bay Rays vs. New York Yankees" on Polymarket, the "Over" option in the sub-market "Tampa Bay Rays O/U 5.5" experienced a sharp fluctuation in winning probability, dropping from 35.5% an hour ago to the current 16.5% (a fluctuation of 19%). Please note the impact of related breaking news.

According to a report by TASS, Bogdan Shablya, head of the financial monitoring and foreign exchange regulation department of the Central Bank of Russia, stated that the Central Bank of Russia expects that after the implementation of laws related to digital currencies, the issue of illegal cryptocurrency exchanges will be resolved, and the related "gray area" should disappear before July 1, 2027.After that, the market will be clearly divided into "white" and "black" parts, with corresponding penalties implemented.

According to Grayscale's official announcement, it has renamed its Grayscale Bitcoin Miners ETF to Grayscale AI Compute ETF, with the New York Stock Exchange trading code changed from MNRS to GCPU, and the tracking index changed from the Indxx Bitcoin Miners Index to the Indxx High-Performance Computing Index.The fund will invest in companies that build and operate AI infrastructure, with about half of the holdings in native AI computing companies, and the remainder in digital infrastructure operators that have publicly committed to transitioning to AI businesses, including companies that have transitioned from Bitcoin mining.

According to Catcher Predict monitoring, in the market prediction event "Tampa Bay Rays vs. New York Yankees" on Polymarket, the "Tampa Bay Rays" option in the sub-market "Tampa Bay Rays vs. New York Yankees" experienced significant fluctuations in winning probability, soaring from 46.5% an hour ago to the current 65.5% (a fluctuation of 19%). Please note the impact of related breaking news.

Solana's decentralized trading protocol Raydium announced that it will invest an initial $1 million in the USDv treasury and will support USDv trading pairs in its market and Launchpad ecosystem. Solomon has chosen Raydium as the primary location for USDv liquidity and will deploy core USDv liquidity on the platform.USDv is Solomon's fully-backed stablecoin on Solana, with underlying reserves exposed to short-term U.S. Treasury bonds. This collaboration allows Raydium to leverage the Solomon platform to direct related earnings to liquidity providers, trader rewards, and new market incentives. User participation in rewards requires a one-time opt-in, with no need for staking, wrapping, or locking, and related arrangements will be advanced with the launch of USDv on September 23.

According to Catcher Predict monitoring, in the market prediction event "Tampa Bay Rays vs. New York Yankees" on Polymarket, the "Over" option in the sub-market "O/U 7.5" experienced a sharp fluctuation in winning probability, dropping from 41.5% an hour ago to the current 26% (a fluctuation of 15.5%). Please note the impact of related breaking news.

Grayscale Zcash ETF (ZCSH) is applying for a 3-for-1 forward split, which is expected to take effect on September 28. This move aims to lower the share price to enhance liquidity, as the fund's price had become too high due to significant increases.

The Chief Information Security Officer of Slow Fog, 23pds, posted on platform X stating that the black and gray industries have established an attack chain against iOS users: clicking on links to extract private keys and mnemonic phrases; when users access web pages using Safari, they gain JS layer read and write capabilities through WebKit/JSC memory corruption; bypassing PAC to obtain native call capabilities; escaping the WebContent sandbox; escalating privileges in the kernel to gain root access, stealing Keychain and wallet data.The affected versions are iOS 13 to 26.5, and it is recommended that iOS users upgrade as soon as possible.

According to Catcher Predict monitoring, in the market prediction event "Boston Red Sox vs. Tampa Bay Rays" on Polymarket, the option "Boston Red Sox" in the sub-market "Boston Red Sox vs. Tampa Bay Rays" experienced a dramatic fluctuation in winning probability, soaring from 55.5% an hour ago to the current 82.5% (a fluctuation of 27%). Please note the impact of related breaking news.

According to The Wall Street Journal, the Zcash ETF (ticker: ZCSH) launched by Grayscale announced a 3-for-1 forward share split for the fund. This split will not change the total value of shareholders' investments.

The asset management company Grayscale's crypto research team stated that the Federal Reserve's interest rate hike on Wednesday is unlikely to impact Bitcoin prices. Grayscale's research director Zach Pandl wrote in a report on Thursday: "We believe yesterday's action is a mid-cycle adjustment rather than a cyclical change. We doubt that the one or two rate hikes expected in 2026 will lead to significant changes in capital allocation."Pandl added that when the Federal Reserve began raising interest rates in 2022 to curb inflation, it "may have put pressure on Bitcoin prices," as this "significantly affected the opportunity cost of holding non-yielding assets." However, he believes this situation is more akin to 1997, when the Federal Reserve made a one-time rate hike while the Nasdaq index continued to rise.The Federal Reserve raised interest rates for the first time since 2023 on Wednesday, causing Bitcoin prices to fluctuate sharply before stabilizing, with a slight increase of about 1% within 24 hours. Bitcoin prices recently approached $76,581, rising 18% over the past 30 days. Federal Reserve Chairman Kevin Warsh stated that the central bank is focused on reducing inflation. U.S. President Trump expressed on his Truth Social platform that U.S. interest rates should be 1% or lower.

According to The Block, Grayscale's research director Zach Pandl stated that the approximately $58,000 low reached around June 30 remains his assessment of the bottom of the current bear market phase, and Grayscale is currently advising clients to allocate Bitcoin.Pandl mentioned in an interview with The Block during the Avalanche summit in New York that they have maintained the view that $58,000 is the bottom of this bear market phase for the past few months. This assessment echoes the comments made by Coinbase CEO Brian Armstrong, who stated on September 10 that Bitcoin has bottomed out in the current cycle and expects a sustained upward trend for the next two years.Pandl stated that Grayscale uses a three-part framework to assess whether clients should allocate Bitcoin, including long-term structural trends, market cycle phases, and macro context. He believes that all three conditions are currently met, thus giving clients the "green light" to allocate Bitcoin. As of Thursday morning, Bitcoin was above $76,000, up 0.8% in 24 hours, but still down about 39% from its historical high of approximately $126,000.Pandl also compared Bitcoin with Zcash, noting that Grayscale has offered investment products for Zcash for about nine years. He believes that Zcash occupies an "underutilized and unexplored design space," rather than directly competing with Bitcoin, and pointed out that as artificial intelligence becomes more powerful, privacy issues are receiving more attention, with Zcash providing investors a way to express their views on personal and financial privacy.

According to Catcher Predict monitoring, in the Polymarket event "Athletics vs. Tampa Bay Rays," the option "Tampa Bay Rays" in the submarket "Spread -1.5" experienced a dramatic fluctuation in winning probability, dropping from 62.5% an hour ago to the current 16% (a fluctuation of 46.5%). Please note the impact of related breaking news.

According to Catcher Predict monitoring, in the market prediction event "Athletics vs. Tampa Bay Rays" on Polymarket, the "Over" option in the sub-market "O/U 6.5" has experienced a dramatic fluctuation in winning probability, plummeting from 49.5% an hour ago to the current 12.5% (a fluctuation of 37%). Please note the impact of related breaking news.

According to BeInCrypto, Grayscale has launched a model portfolio aimed at financial advisors. The "next generation" strategy does not include Bitcoin and primarily allocates to three types of assets: ETH, XRP, and SOL, which together account for approximately 89%.Specifically, the allocation for ETH is 42.34%, XRP is 26.11%, and SOL is 21.09%. This portfolio is designed to provide wealth management institutions with exposure to non-Bitcoin crypto assets.