Deutsche Bank, Germany's largest bank, is preparing to launch cryptocurrency custody services within weeks, according to Reuters. The service will initially support Bitcoin and Ethereum before expanding to stablecoins and Asian markets in 2027.
Simultaneously, Charles Schwab, a $13 trillion financial services firm, has officially launched Bitcoin and Ethereum trading for eligible clients. The expansion makes BTC and ETH available to approximately 40 million accounts on the same platform used for stocks and bonds trading.
These moves represent a notable convergence between traditional finance and cryptocurrency markets. The timing coincides with Bitcoin struggling to maintain levels above $80,000, and Spot Bitcoin ETFs experiencing net outflows, including four days of outflows from BlackRock within a single week.
Institutional Adoption and Market Performance
Bitcoin closed the third quarter strongly despite recent market uncertainty. Spot Bitcoin ETFs recorded over $6 billion in net inflows during Q3, marking the best quarterly performance of the year to that point.
In Q3, Bitcoin climbed more than 40% compared to the Nasdaq's 0.8% gain, demonstrating significant outperformance relative to traditional stock market indexes. This relative strength has made Bitcoin increasingly attractive to institutional investors seeking alternatives amid macroeconomic uncertainty.
Outlook for Q4
The expansion by Deutsche Bank and Charles Schwab is expected to increase institutional and retail access to Bitcoin. As macroeconomic uncertainty persists heading into the final quarter, Bitcoin's continued outperformance relative to traditional market indexes may draw further institutional attention and support key price levels.
