Bitcoin spot ETFs saw $65.4M outflows; Sberbank approved for crypto trading; Binance shuttering mining services; SkyAI tender offer rejected; Morgan Stanley delays tokenized equity to Q1 2027.
Regulation & Gov ·
Bitcoin spot ETFs recorded $65.40 million in net outflows on October 12, with BlackRock's IBIT leading the decline. Separately, Russia's largest bank Sberbank received approval to trade cryptocurrencies after joining the Bank of Russia's crypto exchange register, complementing its earlier digital depository listing. The bank plans to launch trading products to all clients on December 1 and is already testing BTC, ETH, and USDT transactions in its app.
The regulatory framework underpinning Sberbank's approval marks a shift from Russia's 2022 proposal to ban domestic crypto exchanges. A law effective September 1 instead established a regulated market with banks, brokers, and exchanges operating under registered intermediary requirements. From July 2027, all crypto transactions must route through registered intermediaries, effectively prohibiting peer-to-peer settlements via Russian bank accounts. Domestic crypto payments remain banned throughout.
Meanwhile, Binance announced it will shut down its mining pool and cloud mining services, and SkyAI rejected a forward bid while planning a tender offer of up to $201 million at $3 per share for 95% of shares and warrants. Morgan Stanley delayed its rollout of tokenized equity support to the first quarter of 2027.