Bitcoin surpasses $96,000, boosted by institutional interest. Charles Schwab plans spot crypto trading within a year. 21Shares partners with Sui to enhance crypto offerings, and Eric Trump confirms USD1 stablecoin for MGX’s Binance investment.
Fast Summary: Bitcoin’s price soared to over $96,000 on May 1, signalling a robust recovery and solidifying its position in institutional portfolios, aided by consistent institutional buying. Meanwhile, Charles Schwab plans to launch spot cryptocurrency trading within a year, aiming to engage with the expanding market. Additionally, 21Shares announced a partnership with Sui to enhance institutional adoption, and Eric Trump confirmed the use of USD1 stablecoin for MGX’s substantial investment in Binance.
Article Body: Bitcoin has made headlines again, surging past $96,000 on May 1, 2025. This is quite a jump considering it hit a low of $78,900 back in February. The recent increase of 21% from February and even 28% from last month’s low marks a notable turnaround. Analysts are pointing fingers at Bitcoin’s shifting status from a speculative asset to a more integral part of institutional portfolios. Steady buying from treasury firms and ETF inflows seem to be fuelling this interest.
In another significant development, Charles Schwab’s CEO announced on May 1 that the company is set to launch spot cryptocurrency trading in the next 12 months. This strategic move reflects Schwab’s ambition to penetrate the booming crypto market. By expanding its digital asset services for both retail and institutional investors, Schwab looks to solidify its foothold in this ever-evolving financial landscape.
Meanwhile, 21Shares, known for its crypto exchange-traded products (ETPs), has teamed up with Sui, a layer-1 blockchain, aiming to aid institutional adoption. This partnership comes as both players seek to broaden their influence globally. They plan to roll out new products and research reports together, indicating a growing interest in Sui’s scalable and efficient infrastructure.
Lastly, at the Token2049 event in Dubai, Eric Trump shared some notable news regarding the Trump family’s venture into cryptocurrency. He announced that the World Liberty Financial USD (USD1) has been selected as the stablecoin for MGX’s hefty $2 billion investment in Binance. This revelation follows earlier announcements about MGX’s intentions to take a significant stake in the leading crypto exchange, marking a crucial step in crypto integration into their investment strategies.
