Crypto Market Roundup: ETF Reversal and Institutional Payments
Chang.K·Oct 26, 2026·3 min read
Bitcoin ETFs post $635.6M in daily outflows as JPM Coin expands to Ethereum, Mesh partners with Visa and 24X reports another Bitcoin trade.
U.S. spot Bitcoin ETFs recorded a sharp daily flow reversal last week, while institutions expanded their use of digital asset infrastructure. JPM Coin reached Ethereum, Mesh announced a Visa partnership, and 24X reported another Bitcoin spot trade involving Standard Chartered.
Bitcoin ETFs See $635.6M Daily Outflow
U.S. spot Bitcoin exchange-traded funds recorded $635.6 million in net outflows in last Thursday's trading session, ending a run of three positive sessions. BlackRock's IBIT lost $254.1 million and Fidelity's FBTC lost $217.5 million. Ark Invest and 21Shares' ARKB recorded another $109.4 million in outflows, while Morgan Stanley's MSBT added $2.3 million. The figure describes one session rather than the full week's balance.
JPM Coin Expands to Ethereum
J.P. Morgan's Kinexys business brought JPM Coin, its U.S. dollar deposit token, to Ethereum last week. The expansion adds the Layer 1 network alongside Base and supports peer-to-peer transfers between institutional clients. JPM Coin uses the ticker JPMD and represents bank deposits. Access remains tied to the bank's institutional clients, even though the token operates on public blockchain infrastructure.
Mesh and Visa Plan Wallet Payments
Mesh announced a partnership with Visa to connect crypto and stablecoin balances in participating wallets with conventional merchant payments. The planned service provisions a Visa credential behind the scenes, with Mesh arranging transaction funding and conversion. Merchants would receive standard payments without changing their checkout hardware. The partnership targets Visa's acceptance network, but that network's reach should not be read as a count of live Mesh users or deployments.
24X Executes Another Institutional BTC Trade
24X Bermuda announced another completed Bitcoin spot transaction on its multi-asset platform last week. Standard Chartered acted as liquidity taker and Wintermute as liquidity provider. The venue described it as its second consecutive spot-cryptocurrency client trade, following an earlier transaction involving Cumberland DRW as provider. The announcement identifies the participants and their roles, but does not disclose trade size, execution price or settlement terms.
