Bitcoin retreats as treasury companies face exclusion from major stock indexes
One of the week's most significant developments came on 15 October, when MSCI finalised new rules that could exclude Bitcoin treasury companies, including Strategy and Metaplanet, from its global equity indexes. The changes target companies whose activities resemble investment funds rather than operating businesses. Affected companies will be identified on 11 November, with exclusions taking effect after 30 November. Analysts estimate that Strategy alone could face approximately $2.8 billion in forced share sales from index-tracking funds. The decision raises important questions about the long-term viability of companies whose principal business is accumulating Bitcoin, although any forced selling would involve their shares rather than their Bitcoin holdings.
Deutsche Bank and Charles Schwab expand mainstream crypto services
Traditional financial institutions continued moving deeper into cryptocurrency. On 16 October, Deutsche Bank announced that it was just weeks away from launching its first digital-asset custody service, initially supporting Bitcoin and Ether before expanding into stablecoins, tokenised deposits and blockchain-based securities. The bank also plans to extend the service into Asian financial centres in 2027. Meanwhile, Charles Schwab confirmed that its direct Bitcoin and Ether trading service is now available to all eligible clients, with cryptocurrency transfers being introduced and three additional tokens planned before year-end. These developments further reduce the distinction between traditional investment accounts and cryptocurrency services.
Circle targets 40 new markets as stablecoins become global payment infrastructure
Stablecoin adoption received another boost on 16 October, when Circle announced plans to expand into approximately 40 emerging and developing markets, particularly across Southeast Asia, Latin America, Africa and the Middle East. CEO Jeremy Allaire said blockchain technology was moving beyond early adoption towards mainstream commercial use, driven increasingly by businesses and individuals using digital dollars for international payments rather than speculation. Circle's USDC circulation reached $73.3 billion in the second quarter, up 19% year-on-year, while the company now accounts for approximately 25% of the global stablecoin market. The expansion highlights the growing competition between stablecoin issuers, banks and conventional international payment networks.