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Switzerland Approves Its First Spot Bitcoin ETF

Switzerland Approves Its First Spot Bitcoin ETF

<p class="text-left mb-4 ">The Swiss Financial Market Supervisory Authority (FINMA) has approved the country’s first spot Bitcoin ETF for retail investors. The decision allows a fund to invest directly in <a href="https://jrkripto.com/tr/coin/btc" target="_blank" rel="noreferrer" class="text-primary underline">Bitcoin </a>under Swiss investment fund rules. It adds another option to the country’s range of crypto investment products.</p><p class="text-left mb-4 ">FINMA announced the decision on Tuesday, October 20. The regulator granted an exception to portfolio diversification rules after assessing Bitcoin’s trading history and high trading volumes. Other fund providers have also submitted applications for similar products or announced plans to apply.</p><p class="text-left mb-4 ">However, the approved fund and its issuer remain unidentified. According to The Block, a FINMA spokesperson said the regulator does not disclose institution-specific information. The announcement therefore does not reveal which provider will offer the product to investors.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">FINMA Grants Bitcoin an Exception to Diversification Rules</h2><p class="text-left mb-4 ">The new ETF falls under the Swiss legal category of “other funds for alternative investments” carrying specific risks. This classification determines the investment fund framework governing the product. The fund will be able to invest its assets directly in Bitcoin.</p><p class="text-left mb-4 ">Diversification rules for investment funds aim to limit portfolio concentration in a single asset. FINMA granted the Bitcoin ETF an exception to these requirements. The regulator highlighted Bitcoin’s longer trading history compared with most other crypto assets.</p><p class="text-left mb-4 ">Bitcoin’s high trading volumes also played an important role in the assessment. FINMA consequently permitted a fund structure focused on a single asset. However, the regulator stressed that its decision does not eliminate the risks associated with Bitcoin investments.</p><p class="text-left mb-4 ">Applications from other providers show that work on spot Bitcoin ETFs continues in Switzerland. The announcement offers no approval timeline for those applications. The first approval also does not mean other products will automatically receive authorization.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">How the ETF Differs From Existing Bitcoin Products</h2><p class="text-left mb-4 ">Swiss investors have long had access to exchange-traded crypto products. The SIX Swiss Exchange has hosted Bitcoin-linked exchange-traded products (ETPs) for years. A product offering exposure to Bitcoin and Ether joined the exchange in 2019.</p><p class="text-left mb-4 ">The significance of the new approval lies in the investment vehicle’s legal structure. Existing Swiss Bitcoin ETPs are debt securities. FINMA’s newly approved ETF falls under Swiss investment fund legislation.</p><p class="text-left mb-4 ">Although both product types provide exchange-based access to Bitcoin, they have different legal structures. The new ETF’s fund status brings requirements covering custody, operational risks, and investor disclosures. This distinction is among the key factors investors need to examine when assessing these products.</p><p class="text-left mb-4 ">FINMA also authorized a crypto investment fund in 2021. However, that fund targeted qualified investors. The latest decision covers an ETF structure that invests directly in Bitcoin for retail investors.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Custody and Investor Disclosures Take Priority</h2><p class="text-left mb-4 ">FINMA also highlighted the operational risks associated with crypto investments. Guidance the regulator published in January addressed risks related to crypto asset custody. Supervised institutions must take measures to mitigate these risks.</p><p class="text-left mb-4 ">Fund documents must also clearly explain the risks to investors. This will allow investors to assess the product’s structure and potential losses before investing. The rules of conduct under Switzerland’s Financial Services Act will also apply when firms sell the ETF.</p><p class="text-left mb-4 ">This framework extends beyond changes in Bitcoin’s price. Asset custody and the management of fund operations also form part of the regulatory assessment. FINMA expects institutions to manage risks in these areas and communicate them clearly to investors.</p><p class="text-left mb-4 ">The regulator also emphasized that Bitcoin remains highly volatile. Investors could lose a significant portion of their money even when investing through an ETF. Regulatory approval indicates that a product meets certain requirements; it provides no guarantee of returns or capital protection.</p><p class="text-left mb-4 ">The decision marks a new stage in the development of Bitcoin funds for Swiss retail investors. Other applications suggest that similar products will remain on the agenda. However, the first fund’s provider and details of its availability to investors remain unclear.</p>

20 Oct 2026
Microsoft, Google and Goldman Sachs Reject Tokenized Stock Plan

Microsoft, Google and Goldman Sachs Reject Tokenized Stock Plan

<p class="text-left mb-4 ">Microsoft, Alphabet and Goldman Sachs have objected to tokenized versions of their shares trading on OKXICE. The joint venture between <a href="https://jrkripto.com/en/exchanges/okx" target="_blank" rel="noopener noreferrer" class="text-primary underline">OKX</a> and New York Stock Exchange owner Intercontinental Exchange disclosed the additional names in its latest notice.</p><p class="text-left mb-4 ">According to OKXICE’s official notice dated October 19, the number of companies objecting has reached 16. Qualcomm, Caterpillar, McDonald’s and Western Digital also joined the list in the latest update. However, the document does not explain each company’s reasons or specify when they submitted their objections.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Seven more companies join the objection list</h2><p class="text-left mb-4 ">The platform’s October 15 notice listed nine companies. Cerebras Systems, AppLovin, Applied Digital, Rocket Lab and CoreWeave were among them. Verizon, Applied Optoelectronics, Broadcom and UnitedHealth also appeared in that notice.</p><p class="text-left mb-4 ">Seven more companies therefore joined the list during the four days between the two notices. The new names span banking, industrial equipment and restaurants, alongside technology. AI infrastructure and technology companies featured prominently in the earlier list.</p><p class="text-left mb-4 ">Microsoft, Alphabet and Goldman Sachs appear in the consolidated notice published by the platform. However, the document does not explain their broader positions on tokenization technology. Their objections therefore do not establish that they reject every model of tokenized stock trading.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">The 63 tickers represent 62 companies</h2><p class="text-left mb-4 ">Comparing the original trading roster with the objection list reveals an important distinction. OKXICE’s October 4 document contains 63 tickers representing 62 companies. Alphabet appears twice, under GOOG and GOOGL.</p><p class="text-left mb-4 ">The same document separately records Cerebras’s objection. However, Cerebras does not appear on the original 63-ticker trading roster. The claim that “17 companies withdrew from the 63 tokenized stocks” therefore conflates two separate lists.</p><p class="text-left mb-4 ">The current objections cover 16 companies and 17 tickers in total. Of those, 15 companies and 16 tickers appear on the original roster. Comparing the lists shows that 47 companies on the initial roster have no disclosed objection so far. That does not mean those companies have explicitly endorsed the platform.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">The platform plans to bring stocks onto the blockchain</h2><p class="text-left mb-4 ">OKXICE aims to bring retail and institutional investors together on a single tokenized securities platform. ICE and OKC USA each hold a 50% stake in the joint venture.</p><p class="text-left mb-4 ">The platform plans to use permissioned Uniswap v4 liquidity pools on X Layer. Users will be able to trade tokenized stocks against supported stablecoins through these pools. The system will use an automated market maker model instead of the order books found on traditional exchanges.</p><p class="text-left mb-4 ">Participation requires identity verification, sanctions screening and wallet checks. Operating on a blockchain therefore does not mean anyone can trade without restrictions. The platform will grant access only to wallets that complete the required checks.</p><p class="text-left mb-4 ">The model also requires one-to-one backing by underlying shares. The initial notice requires investors to retain equivalent shareholder rights, including dividends and voting rights. The tokenization provider will hold the underlying shares through a registered broker-dealer.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">The official notice does not mean SEC approval</h2><p class="text-left mb-4 ">OKXICE plans to operate under a temporary exemption framework from the U.S. Securities and Exchange Commission. However, the platform’s official document sets out important limits to its regulatory status.</p><p class="text-left mb-4 ">According to the document, OKXICE is not registered with the SEC for activities covered by the exemption. The SEC has also not endorsed the merits or accuracy of the disclosures. The platform further states that it will not be subject to Regulation NMS, which governs the traditional U.S. stock market.</p><p class="text-left mb-4 ">SEC oversight nevertheless remains in place. The notice explicitly states that operating outside the exemption’s conditions could lead to regulatory enforcement action.</p>

20 Oct 2026
SEC Crypto Proposal Reaches Key Deadline: $75 Million Exemption on the Table

SEC Crypto Proposal Reaches Key Deadline: $75 Million Exemption on the Table

<p class="text-left mb-4 ">The public comment period for the U.S. Securities and Exchange Commission’s (SEC) crypto asset proposal closes today. The draft, titled “Regulation <a href="https://jrkripto.com/tr/analytics" target="_blank" rel="noreferrer" class="text-primary underline">Crypto </a>Assets,” aims to change how token projects raise capital. It proposes a registration exemption for eligible issuers raising up to $75 million annually.</p><p class="text-left mb-4 ">The SEC’s official schedule lists October 20, 2026, as the deadline for public comments. However, this date does not mark the rules’ entry into force. The agency still lists the regulation as a proposal.</p><p class="text-left mb-4 ">The process matters for startups seeking funding through token sales in the United States. The draft centers on a tailored offering framework for certain investment contracts involving crypto assets. Its scope therefore falls short of granting blanket permission for all crypto transactions.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Two Separate Funding Routes for Crypto Projects</h2><p class="text-left mb-4 ">The SEC proposes two exemptions as alternatives to existing registration requirements. The first would allow eligible startups to offer up to $5 million over four years. The second would cover fundraising of up to $75 million in each 12-month period.</p><p class="text-left mb-4 ">These thresholds create separate funding routes for projects of different sizes. Companies would still need to meet the relevant conditions and provide investors with required disclosures. The proposal preserves prohibitions against fraud and market manipulation for issuers using either exemption.</p><p class="text-left mb-4 ">The higher fundraising limit also comes with financial statement and ongoing reporting requirements. The SEC thus seeks to improve access to capital while requiring information that helps investors assess projects.</p><p class="text-left mb-4 ">In its rationale, the agency argues that existing rules do not adequately address crypto projects’ characteristics. Network development and growing token adoption, in particular, create needs that differ from traditional financing models. According to the SEC, this mismatch can complicate transaction planning and constrain innovation.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Tokens’ Legal Status Also Takes Center Stage</h2><p class="text-left mb-4 ">Alongside the fundraising exemptions, the draft includes a conditional “safe harbor” mechanism. This addresses circumstances in which a crypto asset would cease to be subject to an investment contract.</p><p class="text-left mb-4 ">The SEC’s approach distinguishes a project’s initial sale from its later development stages. The agency notes that an asset initially subject to an investment contract may eventually leave that scope. However, the draft makes this transition subject to specific conditions.</p><p class="text-left mb-4 ">This distinction matters for token issuers seeking to understand their subsequent obligations. It also aims to help investors assess the legal status of the assets they purchase. The proposal does not automatically grant every token an exemption.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Academics Raise Investor Protection Concerns</h2><p class="text-left mb-4 ">Some legal academics, meanwhile, oppose the SEC’s proposed framework. A submission from John Coates, John Coffee and other signatories questions the need for separate crypto regulation.</p><p class="text-left mb-4 ">The academics argue that existing fundraising exemptions already offer several options. They also warn that giving companies greater flexibility over disclosures could weaken investor protection.</p><p class="text-left mb-4 ">Their objections also focus on investors’ ability to compare projects. According to the signatories, allowing issuers broad discretion to determine which information matters creates risks. They therefore urge the SEC to address fundamental shortcomings and submit a revised proposal.</p><p class="text-left mb-4 ">The SEC’s comment file shows that a range of market participants has joined the process. It includes submissions from representatives of Bitwise, Hyperliquid Policy Center, Chainalysis and AIMA. Their participation shows that the debate extends beyond token development teams.</p><p class="text-left mb-4 ">Today’s deadline marks an important point in the proposal’s public comment process. However, the SEC’s final regulation will determine the precise exemptions available to companies. The current official page does not announce final approval or an effective date.</p>

20 Oct 2026
JPMorgan Launches Its Digital Dollar on Ethereum

JPMorgan Launches Its Digital Dollar on Ethereum

<p class="text-left mb-4 "><a href="JPMorgan has brought its dollar-denominated deposit token, JPM Coin (JPMD), to Ethereum for institutional clients. " target="_blank" rel="noreferrer" class="text-primary underline">JPMorgan has brought its dollar-denominated deposit token, JPM Coin (JPMD), to Ethereum for institutional clients. </a>The bank shared details of the expansion in a statement on Monday, October 19. JPMD is now available for institutional payments on <a href="https://jrkripto.com/tr/coin/eth" target="_blank" rel="noreferrer" class="text-primary underline">Ethereum</a>, following its launch on Base.</p><p class="text-left mb-4 ">The move expands JPMorgan’s efforts to bring traditional financial services onto blockchain infrastructure. JPMD represents existing deposits held at the bank on a public blockchain. This structure allows institutional clients to make payments directly onchain.</p><p class="text-left mb-4 ">The token now supports peer-to-peer transfers within the Ethereum Virtual Machine (EVM) ecosystem. The bank’s statement specifically names Base and Ethereum among the supported networks. However, the service targets institutional clients.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Why Did JPMorgan Choose Ethereum?</h2><p class="text-left mb-4 ">In a statement shared with The Block, Kinexys by JPMorgan highlighted Ethereum’s liquidity. The division said the network’s established pool of tokenized assets also influenced its decision. Together, these factors made Ethereum a natural next network for JPMD.</p><p class="text-left mb-4 ">JPMorgan first launched JPM Coin on Base in November 2025. The Ethereum expansion broadens the blockchain infrastructure supporting the token. It also brings the bank’s deposit-based payment product into a wider onchain ecosystem.</p><p class="text-left mb-4 ">The choice of Ethereum also connects with the bank’s other products on the network. JPMorgan’s asset management division previously launched tokenized money market funds on Ethereum. JPMD adds another service to the bank’s institutional financial activities on the blockchain.</p><p class="text-left mb-4 ">However, the announcement does not include a general rollout for retail investors. JPMorgan presents the Ethereum expansion as a service addressing institutional clients’ payment needs. Using a public blockchain therefore does not mean the product is available to everyone.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">JPM Coin Represents Bank Deposits Onchain</h2><p class="text-left mb-4 ">JPMD is backed by existing bank deposits held at JPMorgan. The token provides a digital representation of those deposits on a public blockchain. The bank says the product aims to improve speed and efficiency in onchain payments.</p><p class="text-left mb-4 ">This structure enables institutional clients to use bank deposits in blockchain-based payment processes. JPMorgan defines its use case around payments that take place directly onchain. Ethereum support adds another network to this payment infrastructure.</p><p class="text-left mb-4 ">Peer-to-peer transfer support is among the JPMD features highlighted in the announcement. Institutional users can transfer the token within the supported EVM ecosystem. Base and Ethereum are the two networks explicitly listed in the bank’s statement.</p><p class="text-left mb-4 ">Emma Landriault, global head of Kinexys Labs, highlighted the practical impact of tokenized financial infrastructure. According to Landriault, this infrastructure is already reshaping liquidity management and settlement processes. Digital asset workflows are also undergoing changes.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Kinexys Surpasses $4 Trillion in Total Transaction Volume</h2><p class="text-left mb-4 ">JPMorgan also shared transaction figures for its Kinexys platform in the statement. The platform’s cumulative transaction volume has exceeded $4 trillion. Its average daily transaction volume has reached $7 billion.</p><p class="text-left mb-4 ">These figures cover the Kinexys platform’s overall activities. The bank does not present them as JPMD’s transaction volume on Ethereum. The platform’s total volume should therefore be considered separately from the new Ethereum expansion.</p><p class="text-left mb-4 ">The bank launched its first tokenized money market fund on Ethereum in December 2025. It then introduced a second fund in May 2026. JPM Coin’s arrival on Ethereum expands the bank’s activities on the network following those launches.</p><p class="text-left mb-4 ">Matthew Dawson, co-founder of Ethereum Institutional, also connected the development with the bank’s earlier initiatives. Dawson noted that JPM Coin was already live on Base. He also emphasized that the Kinexys platform itself uses Ethereum Virtual Machine technology.</p><p class="text-left mb-4 ">According to Dawson, these developments show institutional finance moving onto public, verifiable infrastructure. JPMorgan’s latest announcement adds another example of bank deposits entering this environment. Ethereum now hosts both the bank’s tokenized funds and its deposit token.</p>

19 Oct 2026
Three Companies Add More Bitcoin and Ethereum to Holdings

Three Companies Add More Bitcoin and Ethereum to Holdings

<p class="text-left mb-4 ">Strategy, Strive and Bitmine announced new cryptocurrency purchases on Monday, October 19. Strategy bought 267 Bitcoin, Strive acquired 1,223 <a href="https://jrkripto.com/tr/coin/btc" target="_blank" rel="noopener noreferrer" class="text-primary underline">Bitcoin</a>, and Bitmine purchased 12,535 Ethereum. All three companies continued expanding their crypto holdings through different capital management strategies.</p><p class="text-left mb-4 ">The announcements show that the companies are also focusing on cash management and financing. Strategy repurchased STRC shares while buying Bitcoin. Strive continued its financing efforts, while Bitmine supported its Ethereum accumulation with staking activities.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Strategy buys Bitcoin and repurchases STRC shares</h2><p class="text-left mb-4 ">Strategy spent $22.1 million on 267 Bitcoin between October 12 and 18. Its average purchase price, including transaction expenses, was $82,900 per coin. The latest acquisition brought its total holdings to 848,517 BTC.</p><p class="text-left mb-4 ">The company has spent $64.02 billion on its Bitcoin holdings to date. Its average acquisition cost across the entire portfolio stands at $75,446 per Bitcoin. Strategy funded $22 million of its latest purchase through MSTR share sales.</p><p class="text-left mb-4 "> <figure class="my-6"> <img src="https://minio-api-1.jrkripto.com/blog/ekran-g-r-nt-s-2026-10-19-162402-3efd2020.webp" alt="Ekran görüntüsü 2026-10-19 162402.png" width="auto" height="auto" class="w-full rounded-lg border" /> </figure> </p><p class="text-left mb-4 ">During the same period, the company repurchased approximately 1.94 million STRC preferred shares. It spent $193.1 million on these repurchases and paid another $45.5 million in preferred dividends.</p><p class="text-left mb-4 ">These expenditures reduced its total dollar assets by approximately $239 million to $5.28 billion. That figure includes a $4.83 billion payment reserve and $447.3 million in cash for general purposes.</p><p class="text-left mb-4 ">Strategy’s management also expanded its preferred securities repurchase program. The program’s total authorization increased from $2 billion to $3 billion. Following the latest transactions, approximately $1.16 billion remained available under the program.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Strive’s latest purchase brings holdings to 36,818 Bitcoin</h2><p class="text-left mb-4 ">Strive CEO Matt Cole announced that the company purchased 1,223 Bitcoin between Wednesday and Friday. It paid an average of $81,734 per Bitcoin. The reported volume and average price imply a purchase worth approximately $100 million.</p><p class="text-left mb-4 ">The latest transaction increased Strive’s total Bitcoin holdings to 36,818 BTC. The company expanded its holdings again after announcing two earlier major purchases. These three acquisitions totaled 7,356 Bitcoin.</p><p class="text-left mb-4 ">However, the latest announcement of 1,223 BTC does not cover all of Strive’s purchases last week. The company previously disclosed buying another 2,822 Bitcoin on October 12 and 13. Its total purchases for October 12–16 therefore reached 4,045 Bitcoin.</p><p class="text-left mb-4 ">This distinction matters when comparing the companies’ weekly acquisition rates. Strategy’s reported purchase of 267 BTC covers October 12–18. Strive’s latest announcement covers only its Wednesday-to-Friday transactions during the same week.</p><p class="text-left mb-4 ">Cole also said he expected proceeds from the SATS preferred share offering to settle on Tuesday. Strive plans to maintain an 18-month dividend reserve. The company is therefore setting aside funds for future payment obligations while expanding its Bitcoin holdings.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Bitmine’s Ethereum holdings exceed 6.04 million</h2><p class="text-left mb-4 ">On the Ethereum side, Bitmine announced that it purchased 12,535 ETH over the past week. Its total Ethereum holdings reached 6,041,481 ETH as of October 18. Bitmine said this represented approximately 4.9% of the total ETH supply.</p><p class="text-left mb-4 ">The company continues to approach its target of accumulating 5% of Ethereum’s supply. Chairman Tom Lee said its weekly purchases have continued without interruption. According to Lee, Bitmine has bought ETH every week since launching its Ethereum treasury strategy on June 30, 2025.</p><p class="text-left mb-4 ">Bitmine also uses a substantial portion of its Ethereum holdings for staking. The company’s staked holdings reached 5,067,309 ETH. This represents approximately 84% of its total Ethereum holdings.</p><p class="text-left mb-4 ">Based on current staking data, the company estimates approximately $309 million in annualized revenue. However, this figure does not represent guaranteed future earnings. Ethereum’s price and staking yields could change the actual amount.</p><p class="text-left mb-4 ">Bitmine’s crypto assets, cash, marketable securities and other investments have a combined value of $15.1 billion. Its cash and marketable securities stand at $582 million.</p>

19 Oct 2026
Switzerland Approves Its First Spot Bitcoin ETF
Switzerland Approves Its First Spot Bitcoin ETFabout 7 hours ago
Microsoft, Google and Goldman Sachs Reject Tokenized Stock Plan
Microsoft, Google and Goldman Sachs Reject Tokenized Stock Planabout 8 hours ago
SEC Crypto Proposal Reaches Key Deadline: $75 Million Exemption on the Table
SEC Crypto Proposal Reaches Key Deadline: $75 Million Exemption on the Tableabout 10 hours ago
JPMorgan Launches Its Digital Dollar on Ethereum
JPMorgan Launches Its Digital Dollar on Ethereum1 day ago
Three Companies Add More Bitcoin and Ethereum to Holdings
Three Companies Add More Bitcoin and Ethereum to Holdings1 day ago
Switzerland Approves Its First Spot Bitcoin ETF
Switzerland Approves Its First Spot Bitcoin ETFabout 7 hours ago
Microsoft, Google and Goldman Sachs Reject Tokenized Stock Plan
Microsoft, Google and Goldman Sachs Reject Tokenized Stock Planabout 8 hours ago
SEC Crypto Proposal Reaches Key Deadline: $75 Million Exemption on the Table
SEC Crypto Proposal Reaches Key Deadline: $75 Million Exemption on the Tableabout 10 hours ago
JPMorgan Launches Its Digital Dollar on Ethereum
JPMorgan Launches Its Digital Dollar on Ethereum1 day ago
Three Companies Add More Bitcoin and Ethereum to Holdings
Three Companies Add More Bitcoin and Ethereum to Holdings1 day ago

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