Germany’s main savings bank network launches Bitcoin trading
Germany’s main savings bank network launches Bitcoin tradingCustomers pay an order fee plus a spread, while direct transfers to personal wallets remain excluded.
German savings-bank customers can now buy Bitcoin inside the Sparkasse app, with DekaBank holding the keys. The rollout starts with participating banks rather than the whole network, and its transfer rules exclude personal self-custody wallets. Bank distribution is expanding, but access still depends on where customers bank and how they want to hold their coins. Switzerland has also approved its first Swiss-law retail Bitcoin ETF, without yet naming an issuer or trading date. Meanwhile, Glassnode’s latest positioning data show traders paying more for bullish leverage even as spot selling persists. Top NewsGermany’s main savings bank network launches Bitcoin tradingDeka launched the service on October 19 for adult current-account holders at participating Sparkassen; five banks were listed as of October 20. Bitcoin, Ether, Solana, XRP and POL are available, with each buy or sell charged €0.99 plus a spread whose rate is absent from the pricing sheet. Deka permits outbound transfers only to specified providers, and has disclosed no customer uptake figures. Switzerland approves landmark Bitcoin ETF after ruling trading volume sufficientFINMA granted a fund-specific diversification exemption for direct Bitcoin exposure. Custody and sales safeguards still apply, while the regulator’s announcement leaves the issuer, fees and trading start date unspecified. Bitcoin’s next selloff could be amplified by the traders still betting on its recoveryGlassnode’s October 19 report put futures open interest at $36.4 billion as long-side funding payments rose 49.4% over the week. The combination leaves leveraged buyers vulnerable if spot selling forces position closures. What We’re Watching
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