Schwab Expands Crypto Listings as Bitcoin Surges Past $80,000
Charles Schwab's $13 trillion asset management arm has expanded its crypto listings beyond Bitcoin and Ethereum, adding SOL, AVAX, and LINK to its offerings. This move follows a growing trend of institutional interest in digital assets over the past two years.
Circle, a prominent stablecoin issuer, minted approximately 5 billion USDC in a single week, marking one of its largest weekly issuance pushes yet. This development has been viewed as a positive sign for crypto markets, with some analysts noting that the increase in stablecoin supply can lead to increased liquidity and potential buy pressure.
The price of Bitcoin surged past $80,000 per unit on Thursday, driven by Treasury buybacks and concerns over yield suppression. Some market participants have warned against intervention, with Stanley Druckenmiller stating that it could have unintended consequences. Meanwhile, Coinbase and Better have launched bitcoin-backed mortgages, which allow qualified homebuyers to cover their cash down payment by borrowing against Bitcoin instead of selling it.