Schwab opens crypto trading as Bitcoin ETFs shed $909 million

US spot Bitcoin exchange-traded funds recorded approximately $228 million in net withdrawals between October 12 and October 16, following a previous week of $681 million in outflows. The two-week total reached $909 million, marking the largest institutional pullback since April. Bitcoin prices slid below the $82,000 threshold during this period, with roughly $771 million in leveraged positions liquidated in a single day earlier in the week. On October 15, nearly $1 billion in additional positions were liquidated as Bitcoin, Ether, and XRP declined simultaneously. Bitcoin closed the week near $81,400.

Schwab Launches Crypto Trading

Charles Schwab opened Bitcoin and Ether trading to eligible US clients through its Schwab Crypto platform. The service charges a 0.75% fee per trade. With approximately 35 million brokerage accounts, Schwab now offers digital assets alongside stocks and retirement savings within a single application used by millions of Americans.

Regulatory Reviews and Index Changes

The Office of the Comptroller of the Currency (OCC) found that all nine of the largest national banks maintain internal policies allowing them to restrict or deny services to digital-asset issuers, exchanges, and administrators. The review does not mandate specific actions but documents the issue for lawmakers and regulators. In Europe, the European Banking Authority (EBA) designated Circle’s USDC as the first “significant” e-money token under the Markets in Crypto-Assets (MiCA) regulation. Starting November 12, USDC will move from national supervisors to direct EBA oversight, subject to stricter capital rules and redemption duties. Circle secured an EU license, while Tether’s USDT remains outside the MiCA framework. The European Securities and Markets Authority (ESMA) has set a three-month window for EU platforms to unwind non-compliant stablecoin exposure.

MSCI approved criteria that could remove Strategy and Metaplanet from its equity benchmarks. The final roster is scheduled for November 11, with any removals taking effect after the November 30 close. Passive funds tracking these benchmarks would be required to sell shares of removed firms. Both companies maintain valuations tied to Bitcoin held on their balance sheets. Patrick Witt, the final adviser steering the White House digital assets office, has departed without a named successor. The SEC, CFTC, and OCC are currently managing active crypto rulemakings. Jamie Selway, SEC Trading and Markets Director, stated that five CFTC-registered exchanges have applied to become security futures exchanges. At least four of these exchanges could list securities perpetual futures before the end of the year.