Bitcoin ETFs Face Roughest Run Since April as Banks Stay Shut

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Institutional appetite faded fast. Spot Bitcoin ETFs in the US saw roughly $228 million of net withdrawals between October 12 and 16, following $681 million the week before, for a two-week total of $909 million. That is the biggest pullback since April. Price action matched the mood: Bitcoin slid under $82,000, with about $771 million in positions liquidated in a single day earlier in the week, then nearly $1 billion more on October 15 as Bitcoin, Ether, and XRP dropped together. BTC finished the week near $81,400. TL;DR US spot Bitcoin ETFs lost $909 million over two weeks, the heaviest institutional selling since April, while nearly $1 billion in leveraged positions was wiped out on October 15. Charles Schwab opened Bitcoin and Ether trading to eligible clients even as an OCC review found all nine major US banks can cut crypto firms off. Europe elevated USDC to “significant” status under MiCA, leaving Tether on the outside. MSCI could drop Strategy and Metaplanet from its indexes by November 30. Europe Crowns USDC, Leaves Tether Waiting The European Banking Authority labeled Circle...