TLDR
- Bitcoin ETFs saw $527 million in inflows on Monday, then $636 million in outflows on Thursday.
- BlackRock filed for a Bitcoin fund with limited downside protection, and JPMorgan put its deposit token on Ethereum.
- HSBC launched RedCoin, a licensed Hong Kong dollar stablecoin for retail users.
- Solana completed its Alpenglow upgrade, while Ethereum delayed a testnet activation.
- US and Irish regulators announced new stablecoin rules and a Coinbase penalty.
Bitcoin spent the week of 19 to 24 October 2026 trading around the low $80,000 range. The price briefly came close to $85,000 before falling back. Most of the week’s key news came from banks, regulators and blockchain networks.
Bitcoin ETF Flows Swing From Inflows to Outflows
US spot Bitcoin exchange-traded funds started the week with about $527 million in inflows on Monday, 19 October. BlackRock’s iShares Bitcoin Trust took in roughly $665 million of that, which offset withdrawals from other funds.
Demand reversed on Thursday, when the funds recorded about $636 million in outflows. This came as technology stocks and wider financial markets weakened.
BlackRock Files for Bitcoin Fund With Downside Protection
BlackRock also filed for a proposed iShares Bitcoin Managed Protection ETF. The fund would use an options strategy tied to its existing Bitcoin trust to cushion some losses.
Gains would be capped, and the protection is not guaranteed. Investors would give up some upside in exchange for the cushion.
JPMorgan Brings JPM Coin to Ethereum
JPMorgan launched its dollar-denominated JPM Coin deposit token on Ethereum. The token was already available on Coinbase’s Base network.
It is limited to eligible institutional clients. The bank says it is designed for round-the-clock payments, collateral transfers and settlement of tokenised assets.
HSBC Launches RedCoin Stablecoin in Hong Kong
HSBC launched RedCoin on Friday, a Hong Kong dollar-backed stablecoin licensed by local regulators. It is aimed at retail users.
HSBC’s PayMe platform has more than 3.3 million users. They will gradually gain access to stablecoin transfers and payments at over 100,000 merchants.
US Regulator Finalises GENIUS Act Rules
The Office of the Comptroller of the Currency finalised rules to implement the GENIUS Act. They cover stablecoin reserves, redemptions, oversight and custody.
The framework takes effect on 18 January 2027. It keeps restrictions on directly paying interest to stablecoin holders.
Solana Completes Alpenglow Upgrade
Solana completed its Alpenglow consensus upgrade on 21 October. It replaces the validation system the network had used since 2020.
Developer Anza says transaction finality drops from about 12.8 seconds to 150 milliseconds. Real-world performance will still depend on network conditions.
Ethereum Delays Glamsterdam Testnet Activation
Ethereum developers postponed the planned activation of Glamsterdam on the Hoodi testnet on 22 October. The concern involved how new gas rules interact with existing smart contracts.
The Ethereum Foundation said the delay affects testing only, not the live network. It has not announced a new date.
Central Bank of Ireland Fines Coinbase Ireland
The Central Bank of Ireland announced a €3.25 million penalty against Coinbase Ireland. It relates to past failures in safeguarding customer funds and outsourcing controls.
Coinbase said no customers lost funds. The regulator said the penalty still needs High Court confirmation.
Companies Object to Tokenised Share Trading Plan
More listed companies objected to a proposed trading platform from OKX and Intercontinental Exchange for tokenised shares. Reuters reported on 23 October that 22 businesses had opted out.
Microsoft and Alphabet are among the companies that opted out.
