[News Brief] Apr 22, morning | Charles Schwab Officially Launches Bitcoin Trading Service

Charles Schwab Officially Launches Bitcoin Trading Service

Bitcoin Magazine reported that Charles Schwab, a financial giant with $12.6 trillion in assets, has officially launched a bitcoin trading service.

Charles Schwab is one of the major U.S. brokerage firms, and the launch is viewed as part of a broader effort to expand bitcoin access for investors in traditional finance.

Source: Bitcoin Magazine

U.S. Spot Bitcoin ETFs See $469 Million in Net Outflows

According to SoSoValue, U.S. spot bitcoin ETFs recorded total net outflows of $469 million on the 24th (U.S. Eastern Time), marking the fifth consecutive trading day of net outflows.

BlackRock’s IBIT saw the largest outflow at $239 million. In contrast, Grayscale Bitcoin Mini Trust ETF recorded net inflows of $23.56 million.

Total net assets of spot bitcoin ETFs stood at $73.867 billion, representing 6.04% of bitcoin’s market capitalization. Cumulative net inflows were $52.747 billion.

Bitcoin Falls Below $61,000

Bitcoin (BTC) has fallen below the $61,000 level.

According to PANews, BTC was trading at $60,978.10 on OKX, down 2.42% over the past 24 hours.

CoinGlass: $134 Million Liquidated in Crypto Market Over the Past Hour

According to CoinGlass, $134 million worth of positions were liquidated across the cryptocurrency market over the past hour.

Of that total, long liquidations accounted for $125 million, while short liquidations came to $8.539 million.

French Hill: Bitcoin Clarity Bill Will Secure Enough Votes to Pass

French Hill, chairman of the U.S. House Financial Services Committee, said on Fox that the Bitcoin Clarity Bill will secure enough votes needed for enactment.

According to @pete_rizzo_, Hill said Washington is moving quickly to get the bill signed into law and that broad regulatory clarity for the U.S. crypto market is approaching.

The remarks come as the U.S. Congress pushes to define rules and jurisdiction for the digital asset market. Resolving regulatory uncertainty is considered a key factor in bringing bitcoin and the broader crypto market further into the financial mainstream.

SBI Group to Acquire Japanese Exchange bitbank for ¥46.7 Billion

SBI Group will acquire Japanese crypto exchange bitbank for ¥46.7 billion, or about $289 million, according to Odaily.

With the acquisition, SBI’s crypto assets under custody are expected to exceed ¥1 trillion, making it one of the largest crypto businesses in Japan.

An SBI Holdings subsidiary plans to acquire shares from the founder and other individual shareholders in August. bitbank is then expected to buy back stakes held by existing shareholders mixi and Ceres by the end of October.

Based on combined account data from SBI VC Trade as of April, the merged entity is estimated to have about 2.92 million accounts and approximately ¥1.1 trillion in assets under custody.

Strategy Preferred Stock STRC Falls to Record Low

According to Odaily, Strategy’s preferred stock STRC fell below $82 on the 25th, marking an all-time low. STRC was trading at $81.83, down 6.3%.

When STRC trades significantly below par value, it suggests that the market is demanding a higher yield. This can be interpreted as a sign that investors have less confidence in Strategy’s credit profile or the stability of future dividend payments.

Strategy has previously relied heavily on issuing STRC to raise funds for bitcoin purchases. If STRC continues to trade below par for an extended period, the company’s cost of new issuance could rise, effectively forcing it to pay a higher interest rate.

U.S. Spot Ethereum ETFs See $30.2382 Million in Net Outflows

According to Odaily, U.S. spot ethereum ETFs recorded total net outflows of $30.2382 million on the 24th, based on SoSoValue data.

By product, Fidelity’s FETH posted the largest outflow at $15.6897 million, followed by BlackRock’s ETHA with net outflows of $8.075 million.

Total net assets of spot ethereum ETFs stood at $8.481 billion, equivalent to 4.35% of ethereum’s total market capitalization. Cumulative net inflows reached $10.997 billion.

10x Research: If ETH Loses $1,600 Support, It Could Fall to $1,200

10x Research said ethereum is holding near the $1,600 support level, and if that level breaks, the next downside target could be $1,200.

According to the analysis, spot ethereum is trading below its 7-day and 30-day moving averages, with a weekly decline of 7.4%. Net outflows from spot ethereum ETFs and weak institutional demand were cited as factors limiting any rebound.

10x Research said concerns over funding have weighed on investor sentiment following staff reductions at the Ethereum Foundation and the end of a key developer incentive program. It also noted that on-chain asset accumulation has fallen to multi-year lows and transaction failure rates have risen, indicating weaker network demand.

This week, in the absence of clear bullish catalysts, macroeconomic pressures such as the Federal Reserve’s hawkish stance, a strong dollar, and stock market volatility have been affecting price action.

H100 Shareholders Approve Share Issuance for Acquisition to Expand Bitcoin Holdings

Shareholders of Swedish health-tech company H100 approved the issuance of shares required to complete the acquisitions of Moonshot AS and Never Say Die AS.

According to Odaily, the transaction is structured as a share swap with no cash payment. Once completed, H100’s bitcoin holdings are expected to increase from 1,051 BTC to about 3,500 BTC, potentially making it Europe’s second-largest publicly listed bitcoin treasury company after Germany’s Bitcoin Group SE.

Under terms disclosed earlier in March, the owners of Moonshot AS and Never Say Die AS would hold about 70% of the merged company after the deal closes, becoming its controlling shareholders.